Saving Investment – LW Larsen Photo http://lwlarsenphoto.com/ Tue, 14 Jun 2022 14:00:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://lwlarsenphoto.com/wp-content/uploads/2021/05/lw-larsen-photo-icon-150x150.png Saving Investment – LW Larsen Photo http://lwlarsenphoto.com/ 32 32 Union Home Mortgage Named Winner of Home Possible RISE Awards by Freddie Mac https://lwlarsenphoto.com/union-home-mortgage-named-winner-of-home-possible-rise-awards-by-freddie-mac/ Tue, 14 Jun 2022 14:00:00 +0000 https://lwlarsenphoto.com/union-home-mortgage-named-winner-of-home-possible-rise-awards-by-freddie-mac/

The company has been recognized for the volume of mortgages granted to low-income borrowers

STRONGVILLE, Ohio, June 14, 2022–(BUSINESS WIRE)–Union Home Mortgage (UHM), a high-growth independent mortgage company with a world-class culture, today announced that Freddie Mac has named the company a 2022 Home Possible RISE Rewards winner in the highest volume category.

Now in its fifth year, the Home Possible Recognizing Individuals for Sustained Excellence (RISE) awards are an annual program that celebrates excellence in creating Freddie Mac Home Possible mortgages, which are loans that offer flexible options and down payments as low as 3% to responsibly increase homeownership opportunities for very low to low income borrowers. The Largest Volume category is reserved for top originators among national and local organizations that originate and/or aggregate the largest number of Home Mortgages Possible. UHM received top honors among regional institutions for the volume of Home Possible mortgages it originated in 2021.

“Union Home Mortgage is committed to making homeownership a reality for individuals and families living within our communities, said Bill Cosgrove, President and CEO of Union Home Mortgage. “We are proud to be recognized by Freddie Mac as a Home Possible RISE award winner for our efforts to increase access to mortgages for borrowers who are too often underserved by traditional lending institutions. responsible access to more inclusive mortgages, UHM is playing the game on the ground and expanding opportunities for creditworthy individuals across our footprint to realize their dream of home ownership.”

Freddie Mac purchased over 130,000 Home Possible mortgages in 2021. Since 2015, the organization has made homeownership possible for over 643,000 families through the purchase of over $126.5 billion Home Possible loans.

Freddie Mac will recognize UHM and other Home Possible RISE award winners at the FreddieMacCONNECT virtual conference on September 20-21.

About the Union Home Mortgage

Union Home Mortgage Corp. (UHM) is a high-growth, independent, full-service retail, wholesale and consumer mortgage company with more than 150 branches across the United States. For 7 consecutive years, UHM has received the Top Workplace award. With a world-class culture that stands out in the mortgage industry, UHM Partners (employees) is guided by a code of conduct that emphasizes respect, open communication and accountability. UHM is an approved direct lender to Fannie Mae, Freddie Mac, FHA, VA, USDA, and other compliant and non-QM lending products, with over $13 billion in responsible lending annually.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220614005713/en/

contacts

Kaila Taton, 440-863-3212
ktaton@uhm.com

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Six easy ways to reduce your debt, from cut loans to flash credit cards https://lwlarsenphoto.com/six-easy-ways-to-reduce-your-debt-from-cut-loans-to-flash-credit-cards/ Sat, 11 Jun 2022 20:27:00 +0000 https://lwlarsenphoto.com/six-easy-ways-to-reduce-your-debt-from-cut-loans-to-flash-credit-cards/

PRICES are skyrocketing from gas pumps to supermarket checkouts, but the pressure on the cost of living is even worse if you are already in debt.

High interest rates mean you risk spending huge sums on repayments without reducing the amount you owe.

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Six Ways to Reduce Your Debt Quickly and Easily

Rosie Murray-West reveals smart switches to clear debt faster and potentially save thousands of dollars. . .

LIGHTEN YOUR LOANS

IF you took out a loan a few years ago, you may be paying more than expected.

Using a new loan at a lower rate to pay off an old one can sometimes make sense.

M&S Bank offers loans with APRs below 4%, compared to an average of 7.4% in June 2020.

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That would mean saving over £340 a year on a £10,000 loan.

But you’ll need to consider the settlement fees that most lenders charge if you cancel your loan early.

This can add up to two months interest, or £122 in the example above.

Not everyone gets the rates advertised by lenders, as these are reserved for those with good credit.

Check which loans you are most likely to get without hurting your score by using an eligibility tool such as the one on moneysavingexpert.com.

RELEASE OF EXERCISE EQUITY

OLDER homeowners who have borrowed against the value of their home with a capital release plan can sometimes see massive savings by switching if they entered into their contract more than three years ago.

Interest rates on equity release plans have dropped dramatically in recent years.

The average switcher saved around £52,000 last year, according to capitalization adviser Age Partnership.

Plans often come with steep prepayment charges, but the switch may be worth it if the savings are greater.

Always consult an independent stock release adviser registered with the Financial Conduct Authority.

REDUCE YOUR MORTGAGE RATE

ALLOWING your mortgage to switch to your lender’s standard variable rate (SVR) at the end of a fixed or trailing agreement could cost you thousands of dollars every year.

The average SVR, according to Moneyfacts, is now 4.91%, while the average two-year fixed rate is 3.25% and five-year 3.37%.

For a £250,000 mortgage, you could save £2,760 a year by switching from a typical SVR to an average two-year solution – and some deals available could save you even more.

Your current lender will also offer you new rates when your agreement expires, so check them out.

If in doubt, take advice from an independent broker.

BLITZ CREDIT CARD BALANCE

Don’t let credit card debt linger. If you only pay the minimum each month, it could take decades to clear.

Making just the average minimum monthly payment of 2.5% on a balance of £5,000 means it would take you almost 38 years to pay off and cost almost £15,000 in total, with a typical interest rate of 22 %.

Upgrade to a balance transfer credit card for an interest-free window of up to 34 months.

Divide the total debt into monthly payments and set up direct debit to ensure you clear the balance during this time. If that’s not possible, try again to switch to a new card.

But not everyone can get the best balance transfer deals because they require a great credit rating.

Rachel Springall, from the comparison site moneyfacts.co.uksaid that even if you can’t make a 0% deal, you can still save thousands of dollars by moving debt to a low-interest card.

Find out which cards you’re most likely to get with the eligibility check at moneysavingexpert.com.

When you transfer your debt to one of these cards, you normally pay a one-time charge of two to three per cent of the balance, or £100 to £150 if you transfer £5,000.

ELIMINATE OVERDISCOVERY FEES

Dipping into your overdraft can be one of the most expensive ways to borrow, with some banks charging 40% interest, almost double the average credit card rate.

Move to a bank with free overdraft. Nationwide’s FlexDirect pays you up to £125 to change and has an interest-free overdraft for the first year. The amount you can borrow depends on your situation.

First Direct’s first account pays Switches £125 and offers £250 free overdraft. Both providers have online eligibility checkers so you can see if you’re likely to qualify – important if you’re already overdrawn.

To pay off larger overdrafts, a money transfer credit card might give you interest-free respite, but beware of fees.

“INTEREST-FREE CREDIT CARDS LET ME BORROW TO GROW MY BUSINESS”

HYPNOTHERAPIST Emma Gosling borrowed £5,000 on a credit card in 2019 to pay a mentor to help her grow her business.

But with an interest rate of 19%, the costs could have skyrocketed.

The 47-year-old from St Albans, Herts transferred that debt to two new credit cards, a move which gave her 27 months interest-free.

She has now cleared the debt without paying a cent in interest.

“I’m glad I used the cards,” Emma said.

“I couldn’t afford to pay for the mentorship up front, so it was a good fit.”

ENERGY AID RISK FROM TENANTS

MORE than half a million tenants may not qualify for government help with their energy bills, warns Citizens Advice.

The charity estimates that one in eight tenants of private landlords, or around 585,000 people, could be affected.

More than half a million tenants may miss out on government help with energy bills, warns Citizens Advice

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More than half a million tenants may miss out on government help with energy bills, warns Citizens AdviceCredit: Getty – Contributor

Tenants cannot claim the £150 warm house rebate if their landlord is managing their bills, and they could also be denied the government’s £400 energy grant in October.

You can only receive cash assistance if you pay your energy supplier directly.

You can try talking to your landlord or managing agent of the shed to see if they’re willing to pass on some or all of it, but there’s no legal obligation to do so.

The charity has seen cases where vulnerable tenants have been denied the long-standing Warm Home discount.

A man with mental health issues who had less than £10 on his prepaid meter could not claim payment because he was not the named payer.

Dame Clare Moriarty, chief executive of Citizens Advice, said: “We are concerned that many tenants will fall through the cracks, putting them at risk of running out of money to help meet bills that soar.”

Tenants who pay their energy bills directly have the right to choose their supplier and have a smart meter installed, but must notify their landlord or rental agent.

If your energy bills are included in your rent, this should be stated in your tenancy agreement, but there may be a ‘fair use’ clause limiting how much you can use.

If your landlord pays for your energy and then resells it to you, he can only charge you for the units of energy you have used and your share of the permanent charge, plus VAT.

A government spokesperson said: “We want energy bill support payments to go to those who end up paying the bills, including tenants in private rental accommodation.

“We are working closely with consumer groups and suppliers to ensure this happens so that from October people receive the £400 deduction they are entitled to.”


THOUSANDS of women could lose huge sums as a result of new state pension mistakes, a former minister has warned.

Sun Money has already called on the government to step up efforts to reimburse around 134,000 pensioners, mostly women, who missed around £1billion due to earlier mistakes.

The Department for Work and Pensions is trying to identify those who were underpaid and fill the gaps, but 40,000 pensioners are thought to have died without getting their due.

The latest mistakes uncovered by former pensions minister Sir Steve Webb, now a partner at consultancy LCP, affect women on the new state pension who previously paid a reduced National Insurance rate known as ” married woman stamp”.

They have the right to claim part of their state pension on the basis of their husband’s contributions.

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But some have been wrongly told they have no rights when in fact they owe more than £4,000 a year.

If you have paid the married woman’s stamp, you can check your rights by calling The Pension Service on 0800 731 0469.


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Nexus is a direct alternative commercial lender that provides financing to businesses that banks are declining. Nexus examines where business owners want to go, rather than where they are now https://lwlarsenphoto.com/nexus-is-a-direct-alternative-commercial-lender-that-provides-financing-to-businesses-that-banks-are-declining-nexus-examines-where-business-owners-want-to-go-rather-than-where-they-are-now/ Fri, 10 Jun 2022 13:59:42 +0000 https://lwlarsenphoto.com/nexus-is-a-direct-alternative-commercial-lender-that-provides-financing-to-businesses-that-banks-are-declining-nexus-examines-where-business-owners-want-to-go-rather-than-where-they-are-now/

Nexus was born out of trading experience in the same scenarios that many business owners face every day. Manufacturing, supply chain, lease upgrades, capitalized equipment acquisitions, running construction and more. Whether cash flow is lagging for accounts receivable or technology, and hardware requires financing, Nexus helps create the stepping stones to get businesses from where they are to where they want to be. Funding opportunities range from $250,000 to $75 million.

They offer financing solutions tailored to each business’s needs and goals while providing insight to help owners make better, positive and repeatable financial decisions as they grow. Nexus is proud to offer impeccable US-based customer support.

Nexus unique services include

1) Immediate approval of the direct decision.

2) 4-hour one-time equipment financing.

3) Tailor-made/personalized financing loans.

4) Operating leases: an operating lease is an expense that remains off-balance sheet.

5) Known as a sole funding source.

6) Equipment loan terms from 6 to 84 months, depending on what suits the customer best.

7) 6-24 months – bridge and private loan.

Testimonials include:

Oz is very knowledgeable in his field. He is able to quickly understand the business models and needs of his clients. It’s a pleasure to work with him, and I also noticed how ready he is to help his teammates to achieve the best results. I highly recommend Oz Yousefian.

“In the 38 years I’ve been in business, there have been many people I’ve enjoyed working with, but only a handful that I truly respect for their work ethic and integrity. Oz Yousefian is one of those special people you don’t often meet in your career. Having the opportunity to work with Oz has shown me that when you have great respect for your client, a synergy develops that makes business relationships almost effortless and enjoyable. Unfortunately, this type of business relationship is a rarity that one can only hope will happen more often.

“Oz is a pleasure to work with. Always has great ideas to take to the next level. Attention to detail while understanding the big picture, he is very professional in his approach and always ready to find ways to solve a challenge. »

According to Oz, “Why Nexus? Keep your finger on the pulse of corporate finance with insights from Nexus Finance.”

About Oz Yousefian, MBA

As an entrepreneurial and highly skilled consultant, global analyst and financial expert with over fifteen years of success in custom finance lending, trade finance and infrastructure sector finance, he is a champion of analytics focused on the data to establish and sustain organizations while rectifying asset management opportunities. Founder of several companies during and just after his BS degree, and later earning an MBA, Oz is known as an analytical, innovative and strategic business owner who leads Nexus as a customer-centric company.

[email protected]

Media Contact

Company Name
Nexus Trade Finance
Contact Name
Oz Yousefian, MBA
Call
(408) 451-3993
Country
United States
Website
https://mynexusfinance.com/

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Comvest Credit Partners leads the refinancing of SMART https://lwlarsenphoto.com/comvest-credit-partners-leads-the-refinancing-of-smart/ Wed, 08 Jun 2022 13:00:18 +0000 https://lwlarsenphoto.com/comvest-credit-partners-leads-the-refinancing-of-smart/

WEST PALM BEACH, Fla., June 08, 2022 (GLOBE NEWSWIRE) — Comvest Credit Partners (“Comvest”), a leading provider of flexible financing solutions for middle market businesses, is pleased to announce that it led the refinancing of SMART Financial (“SMART” or the “Company”), an Orlando, Florida-based pawnbroker. Comvest acted as administrative agent and sole lender in providing SMART with a $68 million senior secured credit facility, which the company will use to refinance existing debt and fund future business growth. SMART has been part of Comvest’s direct lending portfolio since 2016.

SMART operates a network of independent pawnbrokers in the United States and Canada. With nearly 90 locations and six unique brands, SMART is the third largest pawnshop chain in North America.

“This transaction reflects Comvest’s ability to provide substantial and ongoing debt financing support to our portfolio companies,” said Jason Gelberd, Partner, Co-Head of Direct Lending at Comvest. “SMART’s management team has built a strong platform with a proven performance record. Comvest is pleased to have successfully supported SMART’s various growth phases over the past five years and now provide a credit solution tailored to management’s expansion goals. We look forward to continuing to build our long-term relationship with the company.”

About SMART Financial
SMART Financial offers non-recourse, fully-secured pawnbrokers and a wide variety of retail merchandise in stores across North America. For more information, visit www.smartfinancialent.com

About Comvest Credit Partners
Comvest Credit Partners is focused on providing flexible financing solutions to middle market businesses. Comvest provides senior secured, unitranche, junior and mezzanine capital to sponsored and non-sponsored companies to support growth, acquisitions, buyouts, refinancings and recapitalizations. Credit facilities typically range from $25 million to $250 million and more for companies with revenues over $20 million. Comvest has offices located in West Palm Beach, Chicago and New York. For more information, please visit https://www.comvest.com/direct-lending

About Comvest Partners
Comvest Partners is a private investment firm providing equity and debt capital to middle market companies across the United States. Since its inception in 2000, Comvest has invested over $8 billion. Today, Comvest has over $7.6 billion in assets under management. With significant capital resources and an extensive network of industry relationships, Comvest Partners provides companies with financial sponsorship, critical strategic and operational support, and business development assistance. For more information, visit www.comvest.com

For more information please contact:
Jason Gelberd, Partner, Co-Head of Direct Lending, Comvest Credit Partners – j.gelberd@comvest.com

]]> WEST BANCORPORATION INC: Entering into a Material Definitive Agreement, Creating a Direct Financial Obligation or Obligation Under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (Form 8-K) https://lwlarsenphoto.com/west-bancorporation-inc-entering-into-a-material-definitive-agreement-creating-a-direct-financial-obligation-or-obligation-under-an-off-balance-sheet-arrangement-of-a-registrant-financial-statement/ Mon, 06 Jun 2022 12:48:03 +0000 https://lwlarsenphoto.com/west-bancorporation-inc-entering-into-a-material-definitive-agreement-creating-a-direct-financial-obligation-or-obligation-under-an-off-balance-sheet-arrangement-of-a-registrant-financial-statement/

Section 1.01 Entering into a Material Definitive Agreement.

On December 15, 2021, West Bancorporation, Inc. (the “Company”) has entered into a credit agreement (the “Agreement”) and related promissory note (the “Promissory Note”) with National Exchange and Trust Bank (the lender”). The agreement provides that the lender will grant the company a term loan in the amount of
$40.0 million (the “Term Loan”). The term loan matures on February 5, 2027 (the due date “).

The agreement provides for a floating interest rate equal to the Wall Street Journal prime rate plus -1.000% and a floor of 2.250% per annum. The Company may prepay the Term Loan in whole or in part at any time; however, any prepayment in whole or in part under refinancing with another institution is subject to a prepayment premium as described in the Agreement.

Under the terms of the agreement, the Company is required to pay quarterly interest on the outstanding principal balance of the term loan. The Company is required to make quarterly capital repayments commencing on May 5, 2023. All outstanding principal and accrued interest on the term loan are due and payable on the due date.

The Company’s obligations under the Agreement are secured by a first ranking lien on the entire share capital of the Company’s banking subsidiary, west bank (the “Bank”), pursuant to a commercial pledge agreement, dated December 15, 2021between the Company and the Lender (the “Pledge Agreement”).

The agreement, promissory note and pledge agreement contain the customary representations, warranties and covenants for a term loan, including certain financial covenants and capital ratio requirements. The financial covenants of the agreement include, among others, covenants requiring that (a) the Bank maintain a minimum Common Equity Tier 1 capital of at least $250,000,000(b) the company’s total risk-based capital ratio must be at least equal to the percentage that the applicable regulator may establish for a “well capitalized” institution, (c) the Tier 1 leverage ratio of the Bank, the Tier 1 risk-based capital ratio and the Bank’s total risk-based capital ratio must be at least equal to the percentage that the applicable regulator may establish for a “well capitalized” institution and (d) the Bank must maintain a minimum return of 1.00% on assets, on a twelve month basis.

The Agreement, Promissory Note and Pledge Agreement also provide for certain events of default, including, but not limited to, default in payment, breach of representations and warranties and bankruptcy or insolvency proceedings, the occurrence, after any applicable relief period, would allow the Lender, among other things, to expedite payment of all amounts unpaid under the Agreement and the Promissory Note, as the case may be, and to exercise its remedies at the in respect of shares in the capital stock of the Bank subject to the pledge agreement.

The foregoing descriptions of the Agreement, Promissory Note and Pledge Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of the Agreement, Promissory Note and Pledge Agreement. pledge, which are filed as Exhibits 10.1, 10.2 and 10.3, respectively, to this current report on Form 8-K and incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or Obligation Under an Off-Balance Sheet Arrangement of a Registrant.

The information set out in Section 1.01 is incorporated by reference into this Section 2.03 in its entirety.

Item 9.01 Financial statements and supporting documents.





(d)    Exhibits



  10.1     Credit Agreement, dated as of December 15, 2021, by and between West
         Bancorporation, Inc. and National Exchange Bank & Trust

  10.2     Promissory Note, dated as of December 15, 2021, made by West
         Bancorporation, Inc., to and in favor of National Exchange Bank & Trust


  10.3     Commercial Pledge Agreement, dated as of December 15, 2021, by and
         between West Bancorporation, Inc. and National Exchange Bank & Trust

104      Cover Page Interactive Data File (embedded within the inline XBRL
         document)

© Edgar Online, source Previews

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Top 5 Money-Related Changes in June https://lwlarsenphoto.com/top-5-money-related-changes-in-june/ Sat, 04 Jun 2022 01:28:41 +0000 https://lwlarsenphoto.com/top-5-money-related-changes-in-june/

From Loan IMEs, Auto Insurance to Deposits: The Top 5 Money-Related Changes in June

Now that June has begun, many monetary policy changes announced by banks, insurance companies and other agencies last month have come into effect and some will be in place by the end of this month. . All of these changes will have an impact on your budget planning.

Whether you’re taking out a home loan or planning to buy a car or just want to put your hard-earned money into deposits, some key changes took place in June. Some lenders have made key revisions to their home loan interest rates, savings deposit rates and service charges from June.

In addition, car and bicycle owners will now have to pay a higher liability insurance premium. In addition, the penalty amount is doubled to Rs 1,000, if the PAN-Aadhaar link is not completed by June 30. To relieve LPG consumers, the purchase of commercial cylinders has become cheaper this month.

Here are the main changes in June:

1. Lend EMI to increase

Various lenders, including SBI and HDFC, have raised their interest rates on home loans. The State Bank of India (SBI) has raised its interest rates on home loans effective June 1, 2022. The bank has raised the External Benchmark Lending Rate (EBLR) by 40 basis points to 7.05% plus CRP and the repo rate-linked lending rate (RLLR) increased to 6.65% plus CRP.

On ordinary home loans, SBI interest rates range from 7.05% to a maximum of 7.35%. A concession of 5 basis points is granted to women borrowers subject to a minimum RER, ie 7.05%.

HDFC Retail Prime Lending Rate (RPLR), on which its adjustable rate home loans (ARHL) are referenced, increased by 5 basis points, effective June 1. With this 5 basis point increase, the total interest rate hike will be 40 basis points for HDFC home loan borrowers. A basis point is one hundredth of a percentage point.

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Two other lenders ICICI Bank and Punjab National Bank (PNB) have also announced a hike in their marginal cost-based lending rates (MCLR). PNB, a public bank, raised its marginal cost of funds-based lending rate by 15 basis points. The increased rates come into effect on June 1, according to the PNB website.

Private sector lender ICICI Bank has also revised the marginal cost of funds-based lending rate with effect from June 1, 2022, according to its website.

The Bank of India has also increased the marginal cost of funds based lending rate over a certain term with effect from June 1, 2022.

2. Premium for Flagship Insurance Plans PMJJBYPMSBY browsed

The Center has increased the premium of its flagship insurance schemes – Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) to make them economically viable. The revision of premium rates was carried out for the first time in seven years for these two plans.

The premium rate of PMJJBY has been revised upwards to Rs 1.25 per day, which translates into an increase of Rs 330 to Rs 436 per year. The annual premium for PMSBY has been increased from Rs 12 to Rs 20, according to an official statement. The new premium rates come into effect on June 1, 2022.

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3. Be prepared to pay a double penalty, if the PAN-Aadhar link is made after June 30

Taxpayers have until June 30 to bind their PAN and Aadhaar with a late fee of Rs 500, according to a circular issued by the Central Board of Direct Taxes (CBDT). However, if this PAN-Aadhaar link is made on or after July 1, the penalty amount will be Rs 1,000.

With penalty fee, the Center has extended the deadline for linking the PAN card to the Aadhar number till March 31, 2023. The previous deadline was March 31, 2022.

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4. Motor vehicle liability insurance premium increases

Under the revised premium rates, passenger cars with engine capacities of up to 1,000 cc will attract an increased rate of Rs. 2,094. On the other hand, while cars with engine capacities ranging from 1,000 cc to 1,500 cc have to pay a premium of Rs. 3,416, those with an engine capacity above 1,500cc will have premium rates of Rs. 7,897.

For two-wheelers, if the engine capacity is between 150 cc and 350 cc, the premium rate will be Rs. 1,366. Above 350 cc, the premium amount will be Rs. 2,804. One can You can also select three-year insurance plans with separate premium rates.

5. Lower LPG price

The Petroleum Marketing Companies (OMC) have reduced the price of commercial 19kg LPG cylinder by around Rs 135 with immediate effect from June 1. In Delhi, the commercial 19 kg bottle now costs Rs 2,219 from the previous level of Rs 2,355.50 per bottle. In Mumbai, the price of LPG is lowered to Rs 2,171.50 per cylinder from Rs 2,307 while in Kolkata, a consumer will have to pay Rs 2,322 per cylinder instead of Rs 2,455. of Rs 2,508, a customer will have to shell out Rs 2,373 in Chennai.

]]> Texas Powerhouse gets approval to use money from lender at ch. 11 https://lwlarsenphoto.com/texas-powerhouse-gets-approval-to-use-money-from-lender-at-ch-11/ Thu, 02 Jun 2022 20:58:00 +0000 https://lwlarsenphoto.com/texas-powerhouse-gets-approval-to-use-money-from-lender-at-ch-11/
By Vince Sullivan (June 2, 2022, 4:58 p.m. EDT) – The owner of a Texas power plant received approval on Thursday to access cash from its secured lenders when a Delaware judge ruled that the money was necessary to maintain operations and preserve the value of its assets prior to a Chapter 11 sale.

In a virtual court ruling, U.S. Bankruptcy Judge John T. Dorsey dismissed unsecured creditor Direct Energy Business Marketing LLC’s objections to Ector County Energy Center LLC’s request to use cash collateral from its secured lenders, claiming that money is essential. debtor’s bankruptcy plans and terms are…

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business loan for women: how to apply for a business loan for women https://lwlarsenphoto.com/business-loan-for-women-how-to-apply-for-a-business-loan-for-women/ Wed, 01 Jun 2022 05:26:00 +0000 https://lwlarsenphoto.com/business-loan-for-women-how-to-apply-for-a-business-loan-for-women/ Tanvi is a well-known businesswoman who owns a boutique in Delhi. It has consumers across the country and it receives the majority of its business orders through an online platform. His business has grown significantly in recent years. And to keep up, she plans to open a second store, but in another city. However, due to a cash crunch, she has been postponing her intentions for a long time. But recently, her friend told her about business loans for women. Tanvi now wants to know more about the features and application process of this product. So, to help her and other female entrepreneurs who are looking for similar information, here is some valuable information on business loans for women and how to apply.

Key Features of Business Loans for Women

1. Easy availability:

The demand for business loans from the female side of society has steadily increased in recent years. More and more women are coming up with innovative startup concepts, which will require appropriate funding to grow. In light of this, many financial institutions have decided to offer business loans to women.

The lender will easily approve you for a low interest rate if you have a solid business plan, appropriate sales projections, and a solid credit profile.

2. Flexibility in terms of use

Your road as a business owner is strewn with pitfalls. You will need money to solve several problems at once. Sometimes you need funds to replenish stocks and inventories. While other times you will need funds to buy new machines. If you are an established business, you might be interested in acquiring a small start-up.

A business loan for women is designed in such a way that it can easily meet a variety of business requirements. Plus, these loans can be tailored to meet your specific needs. This means that you can apply for a working capital loan depending on your working capital needs. Similarly, a medical professional can also take out a medical equipment loan to purchase advanced medical equipment.

3. Unsecured Loans

The most common challenge women entrepreneurs face is the availability of funds in exchange for collateral. However, this is not the case with a business loan for women.

Funds are readily available until you meet the lender’s minimum qualifying criteria. If you don’t meet the minimum eligibility, consider adding a co-applicant.

A co-applicant can be either your spouse or your business partner.


4. Flexible plan


Business loans for women are available for a flexible tenure. Repayment flexibility allows you to select a term with an EMI amount that best suits your budget.

Your mandate has a direct impact on your budget, so make the best decision possible. Let’s take a look at the table below to help us understand this better.

5. No Profit Sharing:

There are certain scenarios in which women entrepreneurs raise funds through private equity. However, there are a number of downsides to doing so. For example, you will have to share the profits with investors, and the investors will be involved in all aspects of the business. Moreover, whatever decision you make in your business will require the participation of investors. And if your investor isn’t impressed with your concept, you may soon have to reconsider.

So, if you don’t want to be part of the previous situation, a business loan for women is the ideal option. Interest is not requested by the lender. You will only be responsible for repaying the amount borrowed plus interest.

6. Competitive interest rate

Business loan interest rates are determined by your credit profile.

The lender assesses your business finances and liabilities before deciding on your interest rate. In this case, if your business is doing well and has no defaults to its name, it is much easier to obtain financing at low interest rates.

How to apply for business loan for women??
If you think this loan can help you reach new heights, look no further and learn how to get an affordable business loan interest rate.

– Do extensive research to find the ideal lending institution.

– Visit their website and go to the business loans section.

– Check the list of required documents on the business loan page and read the minimum eligibility requirements.

– Complete the online application form and upload all required documents.

– The lender will verify your details.

– If the details are satisfactory, one of their representatives will contact you to obtain the additional information necessary to process the loan.

– Once you have provided the additional details, the lender will initiate a credit assessment. They will send you a proposal letter based on this. The letter will contain information such as the loan amount, interest rate, and any loan-related fees that may apply.

– You must give your written acceptance through the appropriate communication channel.

– After acceptance, the lender will pay the amount to your account shortly.

Here are 5 business loan programs by banks for businesswomen

1. Central Hundred Kalyani

The Central Bank of India offers business and start-up loans to businesswomen to open a new business or expand the current one.

2. MUDRA loan
MUDRA Yojana under the Pradhan Mantri Mudra Yojana (PMMY) program is a government program through which individuals, startups, business owners, as well as female entrepreneurs can take out loans from banks. Under the Mudra Yojana scheme, loans of up to Rs 10 lakh are offered to women for starting a new business or expanding the current one. The loans are offered in three categories – Shishu (up to Rs 50,000), Kishor (Rs 5 Lakh) and Tarun (Rs 5 lak to Rs 10 lakh).

3. Bhartiya Mahila Bank Shringaar and Annapurna Loan Schemes ()
SBI offers women entrepreneurs a wide range of loans for the creation of a new business or for expansion. The two most popular options of this program are Shringaar and Annapurna. The Shringaar loan is given to women entrepreneurs who want to set up beauty salons and the Annapurna loan scheme is intended to set up a catering business or sell packed lunches.



4. Synd Mahila Shakti of
Canara Bank lends to new and current female entrepreneurs. The program is available as a cash credit to meet the working capital needs of new and existing business units or as a term loan program for up to 10 years. A company requesting such a loan must have one or more women holding at least 50% of the financial participation.

5. Shakti Schema of (BOB)
The Shakti program provides loans for a wide range of sectors, including agriculture and related businesses, retail, microcredit, education, housing, as well as businesses in direct/indirect finance, manufacturing and services. The maximum loan amount differs by sector. The loans are offered with no processing fees and with a 0.5% discount on loans up to Rs 5 lakh.

(Entry of the ANI)

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iBorrow provides $20 million in financing for the acquisition of a 232-unit multi-family community in Dallas’ Oak Cliff neighborhood https://lwlarsenphoto.com/iborrow-provides-20-million-in-financing-for-the-acquisition-of-a-232-unit-multi-family-community-in-dallas-oak-cliff-neighborhood/ Fri, 27 May 2022 21:12:29 +0000 https://lwlarsenphoto.com/iborrow-provides-20-million-in-financing-for-the-acquisition-of-a-232-unit-multi-family-community-in-dallas-oak-cliff-neighborhood/

DALLAS, TX – iBorrow, a nationwide private direct lender for commercial real estate, has provided a $20 million loan to support the acquisition of a 232-unit garden-style multifamily community in the Dallas neighborhood of ‘Oak Cliff in Dallas, Texas, according to Brian Good, CEO of iBorrow.

“The borrower had the opportunity to purchase an exceptionally well-located multi-family property in the ever-growing Dallas market,” Good says, noting the community’s proximity to several major thoroughfares and employment centers. “The asset was recently renovated under the previous owner, further strengthening the strength of this investment and the borrower’s ability to capitalize on current and future demand for quality rental housing in Dallas.”

Good notes that the Dallas-Fort Worth market will soon lead the nation in immigration, as it is expected to exceed 70,000 new residents this year. According to a recent report, due to people moving to this metropolitan area, apartment absorption will exceed deliveries in 2022, producing downward pressure on vacancy and supporting rental growth.

“We are very confident in the borrower’s business plan as rental growth in the area continues to reach record highs,” said Good. “In order to meet the tight deadlines of today’s market and seize this rare and highly competitive acquisition opportunity, the borrower needed fast and reliable financing that our team could provide with confidence.”

The community is centrally located within a 15 minute drive of downtown Dallas and close to important industrial jobs along Interstate 20 and Interstate 30. Residents also enjoy convenient access to several shops, restaurants and entertainment options, as well as a DART stop in front of the property.

The community is located at 4542 W Kiest Boulevard in Dallas, Texas.

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What to do while waiting for a possible upcoming student loan forgiveness https://lwlarsenphoto.com/what-to-do-while-waiting-for-a-possible-upcoming-student-loan-forgiveness/ Sun, 22 May 2022 13:00:01 +0000 https://lwlarsenphoto.com/what-to-do-while-waiting-for-a-possible-upcoming-student-loan-forgiveness/

Kool99 | Istock | Getty Images

Contact your lender

The fact that millions of borrowers will have new loan service when payments resume due to industry changes adds a bit of a mess here.

Affected borrowers should receive multiple notices, said Scott Buchananexecutive director of the Student Loan Servicing Alliance, a trade group for federal student loan servicers.

In September, if you mistakenly send a payment to your old repairer, the money must be transferred to your new one, Buchanan said.

Save

Student loan forgiveness, if it occurs, will likely be limited to federal loans only

Marc Kantrowitz

higher education specialist

For example, a write-off of $10,000 would only completely erase the debt for one-third of the borrowers.

As a result, Kantrowitz recommends starting to save money now to lessen the pain of picking up bills.

Delay refinancing

Even though interest rates are low right now, Kantrowitz said borrowers should think twice about refinancing their debt with a private lender.

“Student loan forgiveness, if it occurs, will likely be limited to only federal loans,” he said.

You don’t want to miss out on debt cancellation while pursuing a lower interest rate.

Try to make sure you will qualify for the relief

Millions of people who took out student loans before 2010 under the Federal Family Education Loan program were excluded from the government’s offer to suspend their accrued interest-free payments during the coronavirus pandemic.

It is feared that these borrowers could also be excluded from any student loan forgiveness.

As a result, FFEL loan holders may wish to contact their servicer and group them into the main Direct loan program, which will qualify for the pardon, Kantrowitz said.

The main downside of doing this is that your repayment schedule will be reset and so if you’re close to the end, it might not make sense.

Don’t worry about taxes

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