Exhibit
99.3




FOR
IMMEDIATE RELEASE-August 14, 2008





Anchor
Funding Services, Inc. reports fiscal 2008-second quarter results





Boca
Raton, FL (PR Newswire)/August 14, 2008 – Anchor Funding Services, Inc. (OTC
Bulletin Board Symbol “AFNG”) announced today its results for its second quarter
of 2008.  The company reported 2008 second quarter finance revenues
and net loss of $273,516 and $(284,372) as compared to finance revenues and net
loss of $75,638 and $(162,641) for the comparable prior year
period.  The Company also reported six month 2008 finance revenues and
net loss of $485,177 and $(707,253) as compared to finance revenue and net loss
of $175,744 and $(290,548) for the comparable period of the prior
year.  The increase in net loss is attributable to the company’s
investments in various sales initiatives, marketing and operations personnel,
and increases in general and administrative costs and compliance costs as a
public reporting company.





Morry F.
Rubin, CEO stated that “We have made investments over the last year in various
sales and online and offline marketing initiatives which are beginning to have a
positive impact.  We anticipate further revenue growth throughout the
year as we continue to benefit from credit contraction associated with the
current business lending environment.  While growing organically, we
are continuing to look for strategic acquisitions of other North American
factoring firms.”





Factoring
is the purchase of a company’s accounts receivable, which provides businesses
with critical working capital so they can meet their operational costs and
obligations while waiting to receive payment from their
customers.  This is particularly important for small businesses
experiencing rejections and delays from banks which are increasingly tightening
their credit requirements.





Anchor is
continuing to benefit from the current credit problems experienced by banks and
other financial institutions.  Banks face continued pressure to exit
troubled loans and rebuild their balance sheets.   As a result,
lending criteria has tightened across the spectrum making it increasingly
difficult for small businesses to obtain working capital.  Through our
sales force and marketing efforts we are implementing various ways to obtain
business opportunities from bank rejections and turndowns.  Unlike a
bank, Anchor is not as focused on the credit quality of its clients, but is more
focused on the creditworthiness of its clients’ customers and validity of their
invoices.  Therefore, Anchor is often able to provide working capital
to small businesses when banks cannot.





Mr. Rubin
also stated that “Within our industry we are targeting specific sectors which
demonstrate high demand for factoring services, such as transportation,
temporary staffing and the energy sector (oil and gas suppliers), among
others.  We will continue to communicate significant developments as
they occur.”





About
Anchor





Anchor
provides innovative accounts receivable funding to small U.S.
businesses.  Our funding facility which is based upon creditworthiness
of accounts receivable, provides rapid and flexible financing to support small
businesses’ daily capital needs.








Additional
Information




For
additional information, a copy of Anchor’s Form 10-Q can be obtained on the
Internet by going to www.sec.gov, clicking “Search for Company filings,” then
clicking “Companies & Other Filers,” typing in our company name and clicking
“find Companies.”






Safe
Harbor Statement Under the Private Securities Litigation Reform Act of
1995.




Certain
statements in this press release constitute “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995.  Such forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual results,
performance or achievements of the company to be materially different from any
future results, performances or achievements express or implied by such
forward-looking statements.  The forward-looking statements are
subject to risks and uncertainties including, without limitation, changes in
levels of competition, possible loss of customers, and the company’s ability to
attract and retain key personnel.





Contact
Morry F. Rubin, Chairman and C.E.O (866) 950- 6669 EXT 302


Email:
Mrubin@anchorfundingservices.com