NEW YORK, Jan. 28, 2022 (GLOBE NEWSWIRE) -- Starfleet Innotech, Inc. (OTC: SFIO) has received a letter of interest from the Export-Import Bank of the United States (EXIM), in support of SFIO’s real estate development projects in the Philippines.
In their letter, EXIM, the official export credit agency of the United States, expressed interest in extending financing of up to $28.75 million, towards SFIO’s medical and retirement resort in Montemaria, Batangas, just south of Metro Manila in the Philippines. Potential debt financing from EXIM would be eligible for a maximum repayment term of seven years.
This follows a series of partnerships and exploratory talks SFIO has spearheaded towards non-dilutive debt financing for its various projects. SFIO is currently engaged with a number of local banks in the Philippines to secure similar financing arrangements for their real estate developments, including a bayside, eco-friendly tech village in Batangas.
These projects play a crucial role in the global asset management company's strategy of collaborative innovation towards building better communities. Profits from these high-yield projects are intended to be reinvested into future growth, helping carry the group towards their plans to uplist from the US OTC Markets to the NASDAQ by 2024.
https://www.globenewswire.com/news-release/2022/01/28/2375106/0/en/SFIO-receives-letter-of-interest-from-US-EXIM-Bank-for-up-to-28-75-M-in-debt-financing.html