October 13, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Anchor Funding Services, Inc. (OTCBB: AFNG) said that it has completed a rescission on its previously announced asset acquisition of Brookridge Funding LLC. Under the terms of the rescission agreement, Anchor received around $783,000 from the sale of its 80% interest in Brookridge.

According to Anchor, the rescission of the Brookridge transaction provides significant benefits to Anchor including a reduction of interest expense resulting in annualized savings of around $160,000; and the opportunity to expand its accounts receivable funding and purchase order financing as a combined product offering to current and prospective clients of Anchor (exclusive of clients of Brookridge), without the burden of the Brookridge overhead.

Florida-based Anchor provides accounts receivable funding, purchase order financing and credit management services to small and mid-size U.S. businesses.

=========

Equity research on any public company is available through the Shareholders Research Alliance (go to http://www.investrend.com/synd0004 for more information).  Real-time, streaming research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://investrend.stocksmart.com/ss/html/hpcompany.html).  Current valuation analysis research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://www.valuengine.com/rep/searchsrep?pid=42&srchfor=).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public other companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation from subject entities, companies, equities, or representatives thereof, for its news, opinions or distributions. Further disclosure is posted at the FinancialWire(tm) website (at http://www.financialwire.net/disclosures.php and http://www.financialwire.net/2010/04/23/safe-harbor/). Additional resources for investors are also accessible via the FinancialWire(tm) website (at http://www.financialwire.net/2010/04/23/investor-resources/). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Copyright © MMX, FinancialWire(tm); All rights reserved.

[hlmsmlh] [bnkngnknb] [nwdlsldw] [bsnnssb] [dvcmntnmc] [ftrdnwswnd] [prfssnlsrvctsrc] [sstsllffs] [mrgrsacqstns]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.