Montreal, Quebec--(Newsfile Corp. - July 2, 2019) - Peak Positioning Technologies Inc. (CSE: PKK) (OTC PINK: PKKFF) ("Peak" or the "Company") today announced that its Asia Synergy Credit Solutions ("ASCS") subsidiary, which provides commercial lending outsourcing services to banks and other lending institutions, recently began servicing loans to micro and small-sized enterprises on behalf of Hua Xia Bank ("HXB").
Headquartered in Beijing, HXB () is China's 14th largest commercial bank with over CAD$490B in assets, 968 branches and over 42,000 employees in 40 cities across China.
All HXB loans serviced by ASCS will be guaranteed by ASCS loan insurance partner, Wuxi Union SME Guarantee Co. Ltd ("WU"), under the terms and conditions of the existing agreement between WU and ASCS. The first loan serviced by ASCS on behalf of HXB, for the amount of 300,000 RMB (approximately CAD$58,000), was issued on June 28, 2019.
HXB becomes the tenth financial institution and the second bank to either outsource a portion of its small business commercial lending activities to ASCS or use Peak's Cubeler Lending Hub platform to help with their small business commercial lending activities.
About Peak Positioning Technologies Inc.:
Peak Positioning Technologies Inc. is an IT portfolio management company whose mission is to assemble, finance and manage a portfolio of promising companies and assets in some of the fastest-growing tech sectors in China, including fintech, e-commerce and cloud-computing. Peak provides a bridge for North American investors who wish to participate in the continued digitization of China's industrial sectors through the latest advancements in technology. For more information:
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Forward-Looking Statements / Information:
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