discount car rental las vegas

Car Rental Direct (CRD), the fast growing automobile rental subsidiary of MAII Holdings, Inc. (OTCBB:MAII), announced that it has obtained a new $10 million line of credit from Ford Motor Credit Corp.

CRD intends to use the credit line to finance the acquisition of additional vehicles for its locations in the Los Angeles, San Diego, Las Vegas and Phoenix markets. CRD’s fleet utilization rate is running at approximately 85% and the company expects to open five additional locations during the first quarter 2002. CRD currently operates 20 locations.

Most Popular Articles in Business
Research and Markets : Tesco Plc - SWOT Framework Analysis
Do Us a Flavor - Ben & Jerry’s Issues a Call for Euphoric New Flavors
eBay made easy: ready to start an eBay business? These 5 simple steps will …
Katrina’s lawsuit surge: a legal battle to force insurers to pay for flood …
Wal-Mart’s newest distribution center opened last month near the southwest …
More »

advertisement

“We are pleased to be working with Ford to expand the CRD fleet and we appreciate the faith that Ford has shown in us,” stated Chris Tyler, Chief Executive Officer of MAII Holdings, Inc. “This additional financing line will give us a strong boost in expanding our fleet. Demand for our product has been increasing faster than our ability to supply and with the additional flooring line from FMC we will now be able to absorb much of the demand and continue our strong pattern of growth.”

About MAII Holdings, Inc.

MAII Holdings, Inc. is led by a management team with expertise in the business solutions industries. The Company’s focus is in the growth and management of specialized technology companies that serve consumer and business-to-business markets. A wholly owned subsidiary, Car Rental Direct, is emerging as a leader in the replacement segment of the automobile rental industry, providing vehicles for businesses and consumers via short- and long-term rental contracts.

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by MAII Holdings, Inc.) contains statements and other matters that are forward-looking. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, actual results may differ materially from those expressed in any forward-looking statements made by MAII Holdings, Inc. For a description of additional risks and uncertainties, please refer to the MAII Holdings, Inc. filings with the Securities and Exchange Commission, including MAII Holdings, Inc.’s Form 10-k.

discount car rental las vegas