MONTREAL, QUEBEC – (NEWSFILE – June 13, 2018) – Peak Positioning Technologies Inc. (CSE: PKK) (“Peak” or the “Company”) today announced that its financial services subsidiary, Asia Synergy Financial Capital (“ASFC”), has now extended loans to almost 1,500 SMEs in China.
In less than 30 days of ASFC being in operation, and as of today, a total of 1,492 Chinese SMEs and entrepreneurs have received a combined 72.9M RMB (approximately $14.8M CAD) in loans from ASFC to help grow and manage their businesses. For the most part, these SMEs are former clients of the Company’s business partner Jiu Dong Ltd., which has almost two decades of experience in commercial lending in China. ASFC uses a proven set of credit rules and keeps the average loan amount relatively low to keep loan default rates to a minimum, an approach that has served Jiu Dong very well over the years.
“Some people may find it surprising that ASFC was able to lend to so many businesses so quickly”, commented Johnson Joseph, Peak’s President and CEO. “But in fact, even though the company had not yet been created, our team in China was already hard at work with Jiu Dong several weeks prior to the official launch of the company preparing the transactions announced today. So, when ASFC was finally launched, all that was left to do was finalize some paperwork”, Mr. Joseph went on to say.
The loans extended by ASFC have an average term of 20 months and will net ASFC an average annual interest rate of 10%.
About Peak Positioning Technologies Inc.:
Peak Positioning Technologies Inc. is an IT portfolio management company whose mission is to assemble, finance and manage a portfolio of promising companies and assets in some of the fastest-growing tech sectors in China, including fintech, e-commerce and cloud-computing. Peak provides a bridge for North American investors who wish to participate in the continued digitization of China’s industrial sectors through the latest advancements in technology. For more information: http://www.peakpositioning.com
CHF Capital Markets
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President and CEO
Peak Positioning Technologies Inc.
Phone: 514-340-7775 ext.: 501
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