THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Wednesday, January 18, 1995 TAG: 9501180515
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
SOURCE: (Staff)
LENGTH: Short : 20 lines
The Foothill Group Inc. announced Tuesday that its asset-based lending subsidiary, Foothill Capital Corp., has executed a definitive agreement for buy the assets of Flagship Financial Corp. The purchase is subject to the approval of Federal Trade Commission, which is expected by Jan. 31, 1995. Richmond-based Flagship Financial Corp. is an asset-based lender with approximately $20 million in loans outstanding. It has additional business development offices in Columbia, Md. and Charlotte, N.C. by CNB