AmericasMart.com and UPS Capital Corp. Announce First Of Its Kind Financing.ATLANTA--(BUSINESS WIRE)--July 6, 2000 Leaders of wholesale and financing markets unveil plans for unique credit line AmericasMart.com, the business-to-business website for the exhibitors and buyers of AmericasMart Atlanta, has expanded the buying potential of AmericasMart exhibitors and buyers through an exclusive partnership with UPS Capital Corp., the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. arm of UPS. Together, AmericasMart.com and UPS Capital are co-branding a hybrid private label credit line "The AmericasMart.com Account" that will offer buyers quick and easy purchasing options and provide exhibitors with financial savings. AmericasMart.com and UPS Capital made the announcement at a media briefing today to coincide with the beginning of AmericasMart Atlanta July Market. AmericasMart Atlanta is the nation's largest wholesale market offering specialty gift, home furnishings furnishings the extra type or quantity of hair on the head, tail, ears or legs, specified for a particular breed. For example, the feathers in setters, the beard in Bearded collies, the eyebrows in Schnauzers. , area rug area rug n. A rug that covers a limited area of floor space in a room. and apparel products. The wholesale market with more than forty years experience, AmericasMart Atlanta annually serves more than 5,000 exhibitors and 200,000 retail buyers from 72 countries. AmericasMart.com is an independent trading exchange created to enable transactions between buyers and vendors. Helping to facilitate the actual transaction between buyer and exhibitor marks a first for AmericasMart Atlanta and UPS Capital, and adds extra value to AmericasMart.com's e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. solutions. This new financial option, which offers an unsecured Unsecured A loan or equity interest that is given without any guarantee of payment, performance, satisfaction or opportunity for return from the recipient. No property, interest or security is used as collateral in either a guarantee or a pledge. , revolving line of credit Revolving line of credit A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years. and includes a credit card, enables exhibitors who honor As a verb, to accept a bill of exchange, or to pay a note, check, or accepted bill, at maturity. To pay or to accept and pay, or, where a credit so engages, to purchase or discount a draft complying with the terms of the draft. this account to obtain immediate transaction authorizations based on the status of buyers' accounts. "Manufacturers and buys worldwide recognize AmericasMart Atlanta as the global industry leader with four decades of experience. But, experience is at its best when it serves as the foundation for launching the future. Today, AmericasMart exhibitors and retailers are assured that they can conduct e-commerce facilitated through the financial options made possible by the partnership with UPS Capital," said John C. Portman, Jr., chairman of AMC (Advanced Mezzanine Card) See AdvancedTCA. , Inc., parent company of AmericasMart and AmericasMart.com AmericasMart.com chief executive officer, Joe Farrugia added, "By offering The AmericasMart.com Account, AmericasMart.com and UPS Capital can establish the rates and fees exhibitors will pay to conduct transactions. We plan to offer a lower rate than exhibitors normally pay. This will help all of our customers, especially small businesses, who will appreciate the financial benefits the line of credit offers." AmericasMart.com and UPS Capital further extend their credit capabilities to buyers and exhibitors alike by offering a MasterCard(TM) business credit card, which can be used at the more than 17 million locations worldwide where MasterCard(TM) is accepted. The credit card option provides AmericasMart.com customers with an economical way to add functionality to their purchasing processes Purchasing Purchasing is the formal process of buying goods and services. The Purchasing Process can vary from one organization to another but there are some key elements that are common throughout The process usually starts with a 'Demand' or requirements . AmericasMart.com buyers and exhibitors will have the option of offering their employees separate credit cards with individual lines of credit. AmericasMart.com and UPS Capital will add functionality to the card by making a number of Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the tools available such as expense reports for employee cardholders, transaction tracking and management reporting. Additional features will be made available. "The benefits of our program have universal application. We believe it adds value to any company seeking a more efficient and convenient way to run its business," said Bob Bernabucci, president, UPS Capital. "We are pleased to join with AmericasMart.com to offer a unique program that helps small businesses, many of whom have been UPS customers for decades." AmericasMart.com (www.americasmart.com) is an independent online global marketplace providing e-commerce and informational services for exhibitors (wholesalers, manufacturers and sales representatives) and buyers (retailers) of AmericasMart, home of the nation's largest gift, home furnishings, area rug and apparel markets. In addition to the electronic showrooms that are segmented into nine product categories for user convenience, AmericasMart.com provides services such as online order placement, market research, industry news and market travel for buyers and exhibitors during and between markets and trade shows, adding e-commerce efficiency, convenience and reach. UPS Capital Corporation is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of UPS (NYSE NYSE See: New York Stock Exchange : UPS). Its mission is to provide a comprehensive menu of integrated financial products and services that enable companies to grow their business. UPS Capital's growing product portfolio is designed to deliver a one-stop solution to the capital needs of any enterprise. UPS Capital also offers the following products: Next Day Leasing, C.O.D. Enhanced Services Enhanced service is service offered over commercial carrier transmission facilities used in interstate communications, that employs computer processing applications that act on the format, content, code, protocol, or similar aspects of the subscriber's transmitted information; , Distribution Finance, and Global Trade Finance. Founded in 1998, UPS Capital is based in Atlanta, Ga., and resides on the Web at www.upscapital.com. |
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