BOULDER, Colo., Jan. 12, 2004 (PRIMEZONE) -- CapSource Financial, Inc. (OTCBB:CPSO) announced it had closed on a loan in the amount of $400,000 from Marshall Bank of Minneapolis, Minnesota. The proceeds from the loan will be used to finance inventory acquisition for CapSource's Mexican subsidiary, RESALTA. Through its RESALTA subsidiary based in Mexico City, CapSource has the exclusive right to sell Hyundai truck trailers and related parts and equipment in Mexico. Hyundai Translead is a U.S. subsidiary of Hyundai, the South Korean construction, engineering and manufacturing company. RESALTA distributes Hyundai products through a number of locations across Mexico.
The loan is secured by RESALTA inventory and is guaranteed by Randolph M. Pentel, the company's Chairman and majority shareholder. The loan is for a one-year term and bears an interest rate of 6.5%.
In addition, CapSource announced that its common stock has been accepted for trading on the OTC Bulletin Board under the symbol CPSO. CapSource completed its initial public offering on July 3, 2003, via the sale of 348,339 shares at $1.75 per share through Public Securities, Inc. of Spokane, Washington.
CapSource Financial, Inc. was incorporated in 1996 to take advantage of North American Free Trade Agreement (NAFTA) and the increased economic activity that NAFTA triggered when the world's largest free trade area was created by linking 406 million people in Mexico, the U.S. and Canada producing more than $11 trillion worth of goods and services. Mexico is now the United States' second largest trading partner with an average of $650 million in goods crossing the border each day. U.S. trade with Mexico has increased nearly 500 percent - from $48 billion to $239 billion since the passage of NAFTA. The vast majority of this trade moves by truck.
In addition to its RESALTA subsidiary, CapSource owns and manages a lease/rental fleet of over-the-road truck trailers and related equipment through its REMEX subsidiary, also based in Mexico City.
Visit the company's website:www.capsource-financial.com