Omega Commercial Finance Corporation (OTCMKTS:OCFN) provided updates on its advancement towards eventually positioning itself for a prospective up-listing to a larger exchange via its execution of growth plan involving various mergers and acquisition, and partnerships.

The highlights

Recently Omega Commercial agreed on a deal to associate with EFO Financial Group, LLC that will take over the lending unit from Omega Capital Street, LLC. It will permit Omega Capital Street to emphasize on the structured finance industry for company and to offer effective property-level capitalization and financing solutions by exclusively quarterbacking capital market prospects within the broader market that’s relegated to beyond CRE operations.

EFO Financial Group, LLC has validated in-house viable real estate loaning platform to create, underwrite, close and service premium lending prospects. They have directly created senior secured and DIP loans across the U.S. and have supported loans well over $100 million. The loans comprising any future loans are and will be protected by income-producing assets, including light-industrial assets, neighborhood retail centers, apartments and offices, along with non-income generating land acquisition and advancement and ground-up building projects.

In September, Omega Commercial led by Timothy R. Fussell, the EVP of Business Affairs, had agreed for a Non-Binding LOI with an investor for a SPA transaction rated at $3.12 per share. The completion of the SPA is expected in this month and will help lead a newly established Joint Venture with an OTCBB associate that has recently bought nearly $220-million in Life Settlement properties YTD. Hence, the JV shall operate and intend to buy novel non-correlated asset of life settlement policies. It can be done in the form of Net Insurance advantages through the JV associate’s proprietary business process.

Omega Commercial strengthened its growth initiative in October by implementing a Non-Binding LOI with a company looking for an SBIC license to get access to low cost capital to eventually leverage and get minimum $150-million in SBA and SBIC low-cost debentures.