SOURCE: American Community Development Group
TAMPA, FL--(Marketwire - Oct 1, 2012) - American Community Development Group, Inc. (PINKSHEETS: ACYD)
The Board of Directors of American Community Development Group Inc. announces the Company has obtained a new $125,000 acquisitions line of credit from Equitas Group LLC. The credit line terms and conditions include that the credit line advances will be to the lender's escrow agent's account to be only used for acquisition closings. According to the agreement, acquisitions are defined as real estate properties in connection with the operations of the Company and acquiring other companies either in whole, asset purchases, franchises, etc. The credit line allows the Company to evaluate and purchase local operating businesses that will result in increased revenues and the hiring of the non-profits' clients that are housed in the Company's real estate properties. It will also allow the Company to increase the number of real estate properties that will also result in increased revenues. The credit line amount may be increased with a written amendment to the acquisitions credit line agreement that is approved by both the Company and the lender.
Both the Board and Management believe this is a positive accomplishment and one that the Company can build upon to further the Company's operations. At the same time, this will also enhance the Company's ability to acquire other companies or their assets in the continual process of becoming a Public Holding Company.
About American Community Development Group, Inc.
American Community Development Group, Inc. is a for-profit corporation founded to provide economic support and management guidance to the non-profit community to assist their support of various economically distressed citizens. ACYD believes in the concept of "social entrepreneurship" as stewards of our investors' and our own resources while also creating strong economic returns on capital.
ACYD is acquiring interests in multi-family, affordable housing and other high occupancy commercial real estate properties. ACYD will break new ground as a national provider of these affordable housing services by specializing in residents that have been previously under-served. For further information view our website, www.americancommunitydevelopmentgroup.com.
About Equitas Group LLC
Equitas Group LLC is a boutique investment group based in Broken Arrow, OK that invests in micro-cap and small-cap public company opportunities.