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WerbungRoanoke Technology Corp. Announces Early Repayment of SBA Loan
PR Newswire - December 10, 2004 08:30ROCKY MOUNT, N.C., Dec 10, 2004 /PRNewswire-FirstCall via COMTEX/ -- Roanoke Technology Corp. (OTC Bulletin Board: RNKE) announces it has repaid its SBA loan in full.
On Tuesday, December 7th, 2004, Roanoke Technology Corp. repaid in full its SBA loan. The final payment on the loan would have been due on November 1st, 2007. By repaying the loan three years early, the company has eliminated a substantial amount of interest.
RNKE C.E.O. David Smith commented, "Having paid off our small business loan three years ahead of schedule has saved us a considerable amount of long term revenue as well as reduced our monthly expenses. This is just one of many measures we are taking to strengthen RTC's financial stability."
Note: "Safe Harbor" Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company' expectations with regard to the future impact on the company's results from new products in development are forward looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
SOURCE Roanoke Technology Corp.
John Hicks of Sussex Avenue Partners LLC Associates,760-918-5592http://www.RoanokeTechnology.comCopyright (C) 2004 PR Newswire. All rights reserved.
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