SOURCE: The Italian Oven Inc.

September 10, 2009 00:00 ET

Soluciones Faciles S.A. Announces It Was Chosen by www.prestamos.cr to Provide Loans to Customers

DOYLESTOWN, PA--(Marketwire - September 10, 2009) - The Italian Oven, Inc. (PINKSHEETS: IOVE), soon to be named Accredited Business Consolidators Corp., announced that its affiliate, Soluciones Faciles, S.A., a Costa Rican corporation, was chosen by www.prestamos.cr as a provider of loans to its customers. Presently, www.prestamos.cr is the largest online loan matching service for Costa Rican residents.

Soluciones Faciles provides payday or microloans, known locally as "prestamos personales" or "credito urgente" to Costa Rican residents. Loans funded by Soluciones Faciles are provided to customers who need short term funds, but have verifiable income sources that enable them to make the required payments.

Providing loans to customers of www.prestamos.cr significantly increases the number of potential customers available to Soluciones Faciles. Specifically, www.prestamos.cr accepts an initial loan application from the customer. After reviewing the information provided, www.prestamos.cr matches the application with a local or international lender. If Soluciones Faciles approves the loan, it pays www.prestamos.cr a small commission. If the loan is denied, Soluciones Faciles returns the lead to www.prestamos.cr and they are free to have a different lender provide and service the loan.

Based on current application statistics, the arrangement could add several thousand loan customers to Soluciones Faciles' portfolio by mid-2010. With most customers obtaining three or more loans per year, and an average profit in excess of $100 per short term microloan, the arrangement should increase revenues.

ABOUT THE ITALIAN OVEN

The Italian Oven, Inc., is a diversified holding corporation. The Company is in the process of changing its name to Accredited Business Consolidators Corp. IOVE share structure: Common shares: 936,399,600 consisting of 500,000,000 restricted shares belonging to My Pleasure Limited, United Kingdom, public float shares of 325,161,800 (held by CEDE & Company), certificate shares: 111,237,800 (70,546,600 restricted, 40,691,200 unrestricted). No new common shares will be issued prior to January 15, 2010 per binding resolution.

This is not an offer to buy or sell securities. Any statements made are forward-looking statements subject to risks and uncertainties. The statements included herein are made as of the date hereof, and the company undertakes no obligation to update publicly such statements to reflect subsequent events or circumstances. Actual results could differ materially from anticipated results.

Contact Information

  • Contact:

    Investor Relations
    The Italian Oven, Inc.
    ir@theitalianoveninc.com
    267-864-7737
    Fax: 267-371-5168
    Twitter: italianoven