FAVO CAPITAL INC - FAVO STOCK NEWS

FAVO Capital has appointed Vaughan Korte as its new Chief Financial Officer, succeeding Paul Norman. Korte, who has over 17 years of finance experience, previously held a senior role at Adidas overseeing finance for 60 countries. CEO Vincent Napolitano expressed enthusiasm about Korte joining the team, citing his past advisory role. This leadership change aims to strengthen FAVO's internal processes and enhance shareholder value through improved risk management and strategic initiatives.

FAVO Capital (OTC PINK:FAVO) submitted its Q1 2021 financial statements, marking a key step towards achieving Pink Current status on OTC Markets. Highlights include originating over 650 new Merchant Cash Advances and participating in approximately $80 million of business funding. Advance receivables rose significantly from $496k in Q4 2020 to $2.2 million in Q1 2021. The adjusted EBITDA stood at $95,800, reflecting initial startup costs. The company reported loss reserves at 8.3%, with actual losses below 2%.

FAVO Realty Inc. (OTC PINK:FAVO) has reported significant developments over the last seven months, raising over $3 million in debt to support small businesses. This funding initiative, in collaboration with over 20 direct funders, has helped provide $90 million to more than 900 small businesses. FAVO's participation includes extending $3.1 million in working capital, with an expected return of over $4.3 million in the next seven months. The company's loss rates remain under 3%, significantly below industry averages. CEO Vincent Napolitano expresses optimism about ongoing opportunities in the funding ecosystem.