SOURCE: Angel Acquisition Corp.

April 27, 2010 09:30 ET

Angel Acquisition Corp Initiates Joint Venture Discussions With Top Banking Institutions

CARSON CITY, NV--(Marketwire - April 27, 2010) -  Angel Acquisition Corp (OTCBB: AGELE) launched preliminary discussions recently with several of the top banking institutions in the country to consummate joint venture agreements with these financial entities in the near term. 

"These discussions show that the leading banks in the industry are now embracing the viability of micro-financing and micro-lending as services vital to the recovery and rebuilding of the US economy," said Steven Bonenberger, CEO of Angel Acquisition Corp. "Obviously, due to the sensitive nature of these discussions I am not at liberty to be more specific. Suffice it to say that these developments demonstrate a commitment by each of these institutions to those entrepreneurs who come to us with their dreams when they have nowhere else to turn. They also clearly illustrate that as we grow our local economies organically, brighter days lie ahead for our great country. Just as we were thrilled about our partnership with Microsoft, we are excited and look forward to building profitable and mutually beneficial relationships with these community-minded financial institutions."

Micro-lenders and micro-financing institutions (MFI's) provide loans to recipients that would not otherwise be possible under traditional lending methodologies. The loan amounts generally range from $1,000 to $25,000. These organizations have seen immense growth due to the global economic downturn during the past 2 years as conventional lending entities struggle to achieve the significant revenue and profit levels that were enjoyed prior to the downturn. Angel Acquisition Corp is dedicating resources, assets and expertise to establish best practices and be a leading provider of micro-finance services for US based entrepreneurs.

Darryl Bradshaw, former Vice President of Loss Mitigation Services with JP Morgan Chase and now the executive liaison and director of his own financial and legal services firm, Titanium 1 Consulting Group, said, "I truly believe in the mission of Angels in Action (www.angelsinaction.tv).

"Some of the country's largest banks have already partnered with organizations like Angels In Action to provide the inspiration and the means to those visionary entrepreneurs who want to build their communities and their local economies from within. My firm provides consulting services to some of these institutions, and I can say that the methodologies of Angels In Action (www.angelsinaction.tv) are not only great ideas but in my estimation an absolute necessity to restart the engine of our economy: America's small businesses. In my 20 plus years of corporate banking experience and having personally dealt with some of the top executives in the industry, I can say the time for micro-financing has never been more urgent. Angels In Action is positioning itself to be an industry leader by executing its prime directives while at the same time delivering profitability to its investors and partners. Therefore, in my opinion, a joint venture with Angels In Action makes more than just good sense, it makes good business sense." 

From time to time, the Company may issue news releases that contain 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be 'forward-looking statements.' 'Forward-looking statements' are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.

Contact Information