Artfest International, Inc. (OTCBB: ARTI) announces new financing options are now available for member art purchases. In cooperation with a major National Bank, Artfest International, Inc. is making available to its members the Artfest Visa and MasterCard. Collectively this financing alternative will offer a line of credit ranging from $500.00 to $25,000.00 depending on an individual’s credit merit. A card holder will have the ability to exclusively purchase art from Artfest Galleries with 0% interest for twelve (12) months, as well as use anywhere MasterCard and Visa is accepted. The card has no annual fee, applicants can expect approval within 72 hours, as it provides for deferred or low minimum monthly payments.
“An Art Channel Galleries member will typically generate over $6,500.00 per year, to which this new line of credit is expected to add at least another 1,000 members and therefore drive revenues to new heights,” commented Edward Vakser, Artfest CEO.
“From past experience, we at Art Channel, our Media division, were able to compel Art revenues in excess of $150 million for one of our clients in the span of one year. At this point, we feel confident that our sales experience can be translated to our current and newly-arriving members,” stated Angie Tassan, Artfest CMO.
Artfest International, Inc. expects the innovative program involving the Artfest Visa and MasterCard to assist our members in making art purchases during these trying economic times. This will enable our members to participate in the company’s ongoing product promotions and special purchase packages that are directed towards introducing a select number of acclaimed artists to our members.
On a separate entry we feel obligated to report standing to our pending acquisition of Charity Sports Distributor, Inc. Having completed a meticulous due diligence process in the first quarter 2009, we are awaiting final approval to our line of credit. The transaction will transpire on a non-dilutive basis whereby we will be issuing restricted stock to the accredited party.
The application form for the Artfest MasterCard and Visa is available online on the Artfest International, Inc. website www.artfestinternational.com.
