Preferred Capital, LLC Announces Operating Company Name Change
Wilmington, DE, Preferred Capital, LLC January 3, 2005 - announced that it has changed the name of its operating company from Star Business and Industrial Development Corp. (BIDCO), also commonly known as Star Bidco, to Preferred Capital BIDCO, Inc. The new company plans to market under the name Preferred Capital. "The name change will allow us to better accomplish our overall mission, which is to brand Preferred Capital as the most recognized alternative SBA lender in its markets. The planned name change was part of our acquisition of Star Bidco and restructuring of that company" says Rocco P. Perate, President and CEO of Preferred Capital BIDCO, Inc. "Our core business, lending within the SBA 7(a) programs, has never been stronger and we plan to increase our SBA 504 lending in 2005. The 504 program offers long-term fixed rates, often 20 year fixed rates, and will assist in positioning us as an SBA industry leader," stated Perate.

Back