Anchor Funding Services, LLC Enters into a Senior Accounts Receivable Credit Facility with Greystone Commercial Services L.P.

BOCA RATON, Fla. — Anchor Funding Services, Inc. (OTC Bulletin Board: AFNG) is pleased to announce that its operating subsidiary, Anchor Funding Services, LLC, has entered into a $7 million senior Accounts Receivable (A/R) Credit Facility with a maximum amount of up to $9 million with lender approval. This funding facility is based upon Anchor’s submission and approval of eligible accounts receivable. This facility replaces our current Textron facility and provides for increased flexibility to finance factoring advances and working capital needs. The agreement contains customary representations and warranties, certain covenants, events of default and limitation, among other provisions.

Morry F. Rubin, Chairman and CEO, stated, "we are very pleased given the tight credit markets to execute this senior Accounts Receivable Credit Facility with Greystone because it increases and solidifies our funding capability and enables us to maximize A/R factoring opportunities during the current credit crisis. Anchor finances businesses that have difficulty obtaining accounts receivable funding from traditional financial sources such as banks. With the reductions in credit available to small and mid-size businesses, we are continuing to add new accounts monthly."

About Anchor
Anchor provides innovative accounts receivable funding to small and mid-size U.S. businesses. Our funding facility which is based upon creditworthiness of accounts receivable, provides rapid and flexible financing to support small businesses’ daily capital needs.