SOURCE: World Assurance Group Inc.

February 01, 2010 08:15 ET

World Assurance Group (WDAS.OTC) Subsidiary ANAV Holdings to Launch New Subsidiary to Focus on Purchase Order Financing

WDAS to Provide Short-Term Credit to Small and Midsize Companies That Sell Everything and Anything Even if the Loans Are Vastly More Expensive Than Traditional Ones From Banks

NEW YORK, NY--(Marketwire - February 1, 2010) - World Assurance Group (PINKSHEETS: WDAS) announced today that its subsidiary ANAV Holdings Corporation is launching a new subsidiary to focus on the Purchase Order Financing.

Purchase order financing (or PO Funding) is a short-term commercial finance option that provides capital to pay suppliers upfront so companies don't have to deplete cash reserves. Purchase order financing is designed for growing businesses with little access to working capital and/or poor cash flow. The type of business that qualifies is usually a producer, distributor, wholesaler or reseller of manufactured products.

Jonathan B. Morgan, President of WDAS, stated, "With the lack of financing currently available for small and medium sized business, with lines of credit and bank loans not filtering to those companies that need it, we stand prepared to start offering these services to keep small business in order and to allow companies to recapitalize effectively with the right amount of working capital."

About World Assurance Group Inc (PINKSHEETS: WDAS)

World Assurance Group through its wholly owned subsidiary ANAV Holdings Corporation intends to participate in all areas of real estate transactions, including direct ownership, co-investment with other institutions or developers, as well as indirect participation through the acquisition of distressed debt and/or non-performing loans with the eventual goal of control of the underlying assets. For more information please visit

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