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Heritage Capital Credit Corporation Prepares Commercial Projects for BCLOC Trust Funding

12:17 pm   -   March 5th, 2007

Heritage Capital Credit Corporation has announced recently that after four years building an origination infrastructure, its subsidiary Independent Capital Credit Corporation has 10 of its original 26 customers’ commercial projects ready for pre-closing and funding by the BCLOC Trusts. These transactions total $298 million. Independent Capital Credit Corporation anticipates adding more of the original customers’ commercial projects to the list or replacing them with new ones in order to reach the total funding obligations of $740 million.

Each commercial project loan is processed using a national rating agency’s guidelines and seeks a shadow rating before it is placed into the BCLOC Trust Special Purpose Entity, which is controlled by an affiliate and is wrapped with a financial guaranty contract to protect the institutional investors from loss of principal and interest on the securities. The Special Purpose Entity is a business formed by the affiliate solely in order to accomplish the specific task of funding the BCLOC Trusts, which will fund the commercial projects.

The origination infrastructure is only possible because of the original Heritage Capital Credit Corporation shareholders who have invested approximately $3 million over the past four years. This unique infrastructure allows no default before the customers’ commercial project loans mature and no loss to the investor that funds each BCLOC Trust.

The company is accepting loan applications. For more information regarding financing real property assets, visit www.independentcapitalcreditcorp.com

About Heritage Capital Credit Corporation
Heritage is a holding company which through its subsidiary, Independent Capital Credit Corporation, is engaged in the commercial property lending business as well as in other financial services that are in large part associated with the real estate industry.

For more information about the BCLOC, visit our websites: www.HeritageCapitalCreditCorp.com and www.IndependentCapitalCreditCorp.com.



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