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LOAN AMERICA FINANCIAL CORPORATION COMPLETES SALE OF $12 MILLION OF ADDITIONAL CLASS B COMMON STOCK

 MIAMI LAKES, Fla., June 4 /PRNewswire/ -- Loan America Financial Corporation (NASDAQ-NMS: LAFCB), a publicly owned residential mortgage banking firm, has completed its sale of 1.2 million shares of Class B common stock at $10 per share.
 The underwriting group was managed by The Robinson-Humphrey Company, Inc.
 Loan America's Class B common stock, which now has 3,766,464 shares outstanding, is traded on the NASDAQ National Market System under the symbol LAFCB.
 John S. Kuczwanski, president of Loan America, stated, "The proceeds from this offering will be used to support our growth in both loan production and servicing portfolio."
 Loan America operates a wholesale mortgage banking network through which it offers a wide selection of residential first mortgages to independent mortgage brokers and other mortgage originators across the nation.
 -0- 6/4/93
 /CONTACT: John S. Kuczwanski, president of Loan America Financial Corporation, 305-557-9282; or John K. Schulte of Schulte, Ross & Aguilar, 305-856-1442, for Loan America Financial Corp./
 (LAFCB)


CO: Loan America Financial Corporation ST: Florida IN: FIN SU:

AW-JB -- FL003 -- 5407 06/04/93 11:33 EDT
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Publication:PR Newswire
Date:Jun 4, 1993
Words:179
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