Carbiz Opens Credit Centre.News Editors/Business Editors PALMETTO palmetto or cabbage palmetto Tree (Sabal palmetto) of the palm family, occurring in the southeastern U.S. and the West Indies. Commonly grown for shade and as ornamentals along avenues, palmettos grow to about 80 ft (24 m) tall and have fan-shaped leaves. , Fla.--(BUSINESS WIRE)--May 3, 2004 Richard Lye, President of Carbiz Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CZ) is pleased to announce the opening of Carbiz Auto Credit Inc., in Palmetto Florida. Carbiz Auto Credit Inc. is the first phase of an aggressive expansion plan recently announced by Carbiz Inc. Carbiz Auto Credit will generate revenue by originating, funding and managing short-term debt Short-term debt Debt obligations, recorded as current liabilities, requiring payment within the year. for consumers with low income or poor credit. This incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. expansion plan will begin to demonstrate a revenue contribution to the company in the second quarter of this fiscal year. Carbiz plans on opening a second credit center later this year. Richard Lye, President of Carbiz, commented, "I expect the impact of this expansion program to be significant in the last two quarters of this year, we look forward to ramping up operations over the next few weeks." ABOUT CARBIZ INC. Carbiz is a leading provider of Internet and software solutions to the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. . Carbiz's suite of business solutions include dealer software products focused on the finance, sub-prime finance, buy-here pay-here finance solutions, lead generation, Internet and training services. Carbiz has provided thousands of products to dealers in the U.S., Canada, and other countries and currently supports over 3000 dealers with a recurring revenue model plus individual product sales. Forward-Looking Statements All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of Carbiz Inc. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has in no way passed upon the merits of the proposed transaction and neither approved nor disapproved the contents of this press release. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion