Advanta posts $3.6 million August net loss on $2,000 interest income

By Caroline Salls

Pittsburgh, Oct. 1 - Advanta Corp. posted a $3.6 million net loss for August on $2,000 in net interest income, according to its monthly operating report filed Friday with the Securities and Exchange Commission.

In comparison, the company reported a $3.27 million net loss for July on $1,000 in net interest income.

Advanta had $25.76 million in cash at Aug. 31, down from $28.65 million at the end of July.

Spring House, Pa.-based Advanta provides credit cards to small businesses through Advanta Bank Corp. The company filed for bankruptcy on Nov. 8, 2009 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 09-13931.

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