DALLAS, July 31, 2013 /PRNewswire/ -- LIG Assets, Inc. (OTCPK: LIGA), a Company focused on residential and commercial real estate, announces that it has agreed to partner with Streamline Funding based in Austin, Texas for asset based lending so that it can significantly expand its residential real estate ownership and hard money lending portfolio. No upside limit has been provided on the line of credit. The credit line is unrelated to agreements with the Strategic Alliance that is focused on the commercial real estate market.
Between interest rate spreads, fees, default swaps, and other revenue sources associated with this lending, LIG Assets anticipates netting about 9 to 10% per year verses money borrowed. No LIGA common stock has been pledged or is tied to this funding in any way.
Jeff Love, President and CEO of LIG Assets, Inc. stated, "This new credit line is another milestone partnership that will allow us to aggressively compete in the current robust and improving residential housing market in Texas, and significantly add to our portfolio. At the same time, we continue to negotiate with our current lender to secure better lending terms that will increase our bottom line earnings."
Streamline currently specializes in funding loans between $100K - $3MM. The firm has programs for land, residential property and commercial property including rehab / re-developments and new construction. The company's core focus is on the four primary Texas Markets including the Austin, San Antonio, Houston and Dallas/ Ft. Worth, MSA's. This new alliance with LIG Assets, Inc. will help Streamline continue to expand its existing loan operations into these major markets.
About Streamline Funding
Streamline Funding is a Texas mortgage broker firm specializing in originating hard money loans on investment real estate in select Texas markets. The mission of Streamline Funding is to be the premiere hard money lending firm in Texas, providing superior customer service to our clients. Streamline Funding is a wholly-owned subsidiary of Noble Capital and can be found at www.StreamlineFunding.com.
About LIG Assets, Inc.
LIG Assets, Inc., based in Dallas, TX, is a Company focused on residential and commercial real estate. Through our Strategic Alliance with Texas Real Estate Hedge Fund, MMR Realty Advisors, InterContinental Real Estate Partners and other funders, LIG Assets has expanded its focus on multifamily, retail, hotel, and office properties with valuations between $1 million and $100 million. LIG Assets, Inc. trades on the pink sheets under the ticker symbol "LIGA". For additional information, please visit LIG Assets corporate website: www.ligassetsinc.net.
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
LIG Assets, Inc.
1700 Pacific Ave. Suite 2600
Dallas, TX 75201
SOURCE LIG Assets, Inc.