LONG BEACH, Calif., Oct. 29, 2008 (GLOBE NEWSWIRE) -- City Loan, Inc. (OTCBB:CYLN) ("City Loan"), in a drive to increase their product distribution, announced today an alliance in the pay day advance market that is projected to be another strong revenue stream. Inland Empire's Pay Day Advance Stores, owned by Empire Marketing Media, is another milestone in City Loan's plan to increase sales distribution of their car loan product through relationships that stand to serve a high demand of customers most productively.
Of this new alliance, President and CEO, William Atkinson states, "We are on track to build our distribution network in the most efficient and productive way. We feel that the Pay Day Advance Stores market is an ideal fit for our product and will generate a great deal of revenue with little to no increase in our operating costs."
In accordance with City Loan's sales expansion plan, Pay Day Advance Stores stand to be a valuable business partner with five locations that will now act as sales locations for City Loan products. Over the course of the last few weeks, City Loan has built relationships with companies that serve a similar market and have a targeted audience for City Loan's car title loan product.
Empire Marketing Media has said of the new partnership, "We have 5 locations throughout the Inland Empire and with the addition of our Car Title Lending partnership with City Loan, this product helps us create new revenue streams. We project that, by partnering with City Loan, we will generate another $250,000 annually in new loan business."
Further information on City Loan Inc. is available at http://www.cityloanfastcash.com and http://www.microstockprofit.com
About the company:
City Loan Inc.'s business consists of providing auto title loans and auto pawn loans to consumers who own their cars free of any debt and wish to borrow against the equity in their cars. City Loan serves customers who may have been rejected by traditional lenders, despite carrying substantial asset value in their vehicles, and provides an alternative solution for their cash needs. City Loan has successfully maintained low levels of credit losses, thanks to its GPS-based technology solution for tracking vehicles. Since City Loan typically extends loans worth no more than 50% of the auction value of the underlying vehicle, there is significant cushion to prevent against losses in the unlikely event of default.
Forward-Looking Statements
The information in this news release includes certain forward-looking statements that are based upon management's expectations and assumptions about certain risks and uncertainties that can affect future events. Although management believes these assumptions and expectations to be reasonable on the date of this news release, these risks and uncertainties may cause actual events to differ material from management's those contained in this news release. The risks and uncertainties include, but are not limited to, continuing as a going concern, availability and cost of our present vendors and suppliers, and absence of any change in government regulations or other costs associated with data transmission over the Internet or termination of transmissions in foreign countries.