Press Release
December 11, 2001
OCEANSIDE, CA -- Monterey Financial Services Inc., a leading provider of financial services to the vacation ownership
industry, has been granted a $20 million line of credit by Sunrock Capital Corp. of Philadelphia, Pa., announces
Robert Steinke, president and CEO. The credit line replaces its previous $12.5 million line from Finova Capital
Corp.
According to Steinke, Monterey's rapid growth made the increase essential. "Our new credit line represents
a 65 percent increase in our financial resources-at far lower costs-and also affords us the opportunity to expand
into Canada," he says. As a result of the increase, Monterey will be announcing several new ventures over
the coming months, including its entry into the Canadian marketplace. "We are aggressively seeking new opportunities
in the timeshare sector," Steinke says.
Since its 1990 inception, Monterey has grown at an average rate of 25 percent per year. Steinke attributes the
steady increases to the company's audited financial statements, sound management and marketing practices, and a
diversified portfolio. In addition to finance, Monterey operates an industry-leading collections division, along
with a substantial loan servicing operation.
Monterey Financial Services of Oceanside, Calif., provides financial services for the timeshare, health, music,
and other industries. Its financial statements have been audited for the past six years by Deloitte & Touche,
a big-five accounting firm. For more information, visit the company's Web site, www.montereyfinancial.com.
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Contact: Bob Steinke/Monterey Financial Services Inc. Phone (800) 456-2225 ext. 3522 or Judy Kenninger/Kenninger Communications Phone (317) 858-8744 or e-mail kenncomm@aol.com