Low Interest Loans – Win Win Lose http://winwinlose.net/ Fri, 24 Sep 2021 20:44:01 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://winwinlose.net/wp-content/uploads/2021/06/icon-9.png Low Interest Loans – Win Win Lose http://winwinlose.net/ 32 32 Two former employees of the New York branch of a major bank and an accountant charged with loan fraud under the Cares Act | USAO-EDNY https://winwinlose.net/two-former-employees-of-the-new-york-branch-of-a-major-bank-and-an-accountant-charged-with-loan-fraud-under-the-cares-act-usao-edny/ https://winwinlose.net/two-former-employees-of-the-new-york-branch-of-a-major-bank-and-an-accountant-charged-with-loan-fraud-under-the-cares-act-usao-edny/#respond Fri, 24 Sep 2021 20:44:01 +0000 https://winwinlose.net/two-former-employees-of-the-new-york-branch-of-a-major-bank-and-an-accountant-charged-with-loan-fraud-under-the-cares-act-usao-edny/ A criminal complaint was unsealed in Brooklyn federal court earlier this morning and two criminal complaints were filed yesterday indicting Anuli Okeke, Charlene Wint and Hashim Campbell for their involvement in a bank and wire transfer fraud conspiracy related to a system fraudulently more than $ 3 million from the Paycheck Protection Program (PPP) and […]]]>

A criminal complaint was unsealed in Brooklyn federal court earlier this morning and two criminal complaints were filed yesterday indicting Anuli Okeke, Charlene Wint and Hashim Campbell for their involvement in a bank and wire transfer fraud conspiracy related to a system fraudulently more than $ 3 million from the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) programs, both launched by Congress as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act . Wint and Campbell pleaded guilty to US judge Roanne L. Mann on Thursday for conspiracy to commit bank and wire transfer fraud. Okeke was arrested this morning and made his first appearance this afternoon before US Judge Robert M. Levy, who released the defendant on $ 100,000 bail.

Jacquelyn M. Kasulis, Acting US Attorney for the Eastern Borough of New York; Kenneth A. Polite, Jr., Assistant Attorney General for the Department of Justice’s Criminal Division; Michael J. Driscoll, Assistant Director-in-Charge, Federal Bureau of Investigation, New York Field Office (FBI); John Grasso, Special Representative, Social Security Administration, Inspector General’s Office (SSA-OIG); Jay N. Lerner, General Inspector, Federal Deposit Insurance Corporation, Office of Inspector General (FDIC-OIG); Stephen Donnelly, acting Special Representative, Office of the Inspector General for the Board of Governors of the Federal Reserve Systems and the Bureau of Consumer Financial Protection, Eastern Region (FRS-OIG); and Amaleka McCall-Brathwaite, Special Agent-in-Charge, Office of the General Inspector of the US Small Business Administration, Eastern Region Office (SBA-OIG), announced the charges.

“As alleged, the defendants planned to steal millions of funds specifically earmarked by Congress to provide emergency relief to small businesses and vulnerable workers during a global pandemic and time of great economic hardship,” said Acting US Attorney Kasulis. “Together with our law enforcement partners, this agency will vigorously pursue defendants who shamelessly seek to enrich themselves using government programs designed to help those in need during the COVID crisis.”

“Unfortunately, fraudulent systems that exploit the paycheck protection program are all too common. Okeke, Wint and Campbell, as indicted today, join the others before them who have taken upon themselves to personally and illegally benefit from the safeguards offered to small businesses during a global pandemic. They are unlikely to be the last, however, and the FBI and our partners will continue to uncover more such plans and bring their perpetrators to justice, ”said Driscoll, assistant director of the FBI.

“Our office will relentlessly investigate fraud plans and get them to the root,” said McCall-Brathwaite, SBA-OIG’s special agent-in-charge. “SBA’s PPP and EIDL programs are designed to help the country’s small businesses struggling with the challenges of the pandemic. I would like to thank the US Attorney General and our law enforcement partners for their dedication and pursuit of justice. “

“The defendants in this case – two bank clerks from a large financial institution and an accountant – are charged with using the bank’s business for personal gain to fraudulently obtain government guaranteed loans [which were intended to help small businesses during the current pandemic]. We remain committed to working with our law enforcement partners to investigate cases where individuals seek to take advantage of federal aid programs and undermine the integrity of our country’s banks, ”said FDIC Inspector General Lerner.

“We are resolved to hold all wrongdoers accountable for fraudulent activities affecting the Federal Reserve Board’s ability to serve small businesses under the Paycheck Protection Program liquidity facility,” said FRS-OIG Special Agent-in-Charge Donnelly.

The CARES Act is a federal act enacted on March 29, 2020 to provide emergency aid in connection with the economic effects of the COVID-19 pandemic. One source of relief from the CARES Act has been the allocation of funds for the granting of forgivable loans to small businesses for job retention and for certain other expenses through the PPP. The PPP enabled qualified small businesses to obtain unsecured loans on favorable terms that they needed to use for specific expenses, including labor, mortgage interest, rent, and utilities. The PPP provided for loan waiver when the recipient companies spent the proceeds on those specified expenses within a limited period of time and used a certain percentage towards labor costs.

Another resource of the CARES Act was the EIDL program, which provided low-interest finance to small businesses, tenants and homeowners in regions affected by declared disasters. Under the program, EIDL beneficiaries were able to receive small business advances of up to $ 10,000 within three days of applying for an EIDL (EIDL Advance). The amount of an EIDL advance payment was determined based on the number of employees of the applicant. The EIDL advance did not have to be repaid.

As claimed in the accounting records, Okeke, branch manager of a major financial institution, Wint, a manager of the same branch, and Campbell, a tax advisor, along with their co-conspirators, provided false tax documents and helped borrowers complete and submit PPP applications that contained fraudulent information . Although Okeke knew that the PPP applications contained false information, Okeke signed each PPP loan application on behalf of the bank and submitted it for approval. After the loan proceeds were paid off to the borrowers, Okeke, Wint, Campbell, and their co-conspirators received kickbacks from the loan proceeds. In addition, Okeke, Wint, Campbell, and their co-conspirators were involved in preparing fraudulent EIDL applications that fabricated borrowers’ finances, and sometimes seeking out loans to individuals who were not legitimate business owners.

The charges in the lawsuit are allegations and Okeke is deemed innocent unless and until proven guilty.

The government’s case is handled by the Office’s Commercial and Securities Fraud Division and the Fraud Division of the Criminal Investigation Division. U.S. Assistant Attorneys Julia Nestor, Chand Edwards-Balfour, and Lindsay Gerdes of the Eastern District of New York, and Trial Attorney Michael McCarthy of the Fraud Department are with the assistance of U.S. Assistant Attorney Brian D. Morris. the Office’s Property Forfeiture Department responsible for the indictment.

The defendants:

ANULI OKEKE
Age: 49
Bronx, New York

CHARLENE WINT
Age: 54
Bronx, New York

HASHIM CAMPBELL
Age: 41
New York, New York

EDNY file numbers 21-CR-477 (FB), 21-CR-478 (FB) and 21-CR-477 (FB)

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CEE MARKETS forint hits eight-week low as c.bank shifts interest rate hikes to a lower gear https://winwinlose.net/cee-markets-forint-hits-eight-week-low-as-c-bank-shifts-interest-rate-hikes-to-a-lower-gear/ https://winwinlose.net/cee-markets-forint-hits-eight-week-low-as-c-bank-shifts-interest-rate-hikes-to-a-lower-gear/#respond Fri, 24 Sep 2021 08:32:29 +0000 https://winwinlose.net/cee-markets-forint-hits-eight-week-low-as-c-bank-shifts-interest-rate-hikes-to-a-lower-gear/ By Gergely Szakacs BUDAPEST, Sept. 24 (Reuters) – Hungary’s forint hit an eight-week low against the euro on Friday and extended its losses for a third straight session after the central bank slowed rate hikes despite theirs Had raised inflation forecasts. At 0801 GMT, the forint lost 0.3%, leading to losses in Central Europe and […]]]>

By Gergely Szakacs BUDAPEST, Sept. 24 (Reuters) – Hungary’s forint hit an eight-week low against the euro on Friday and extended its losses for a third straight session after the central bank slowed rate hikes despite theirs Had raised inflation forecasts. At 0801 GMT, the forint lost 0.3%, leading to losses in Central Europe and giving up much of its year’s gains. Both the Hungarian and Czech central banks started raising rates in June, raising the forint and krona by about 3% against the euro ahead of Tuesday’s Hungarian interest rate meeting, when the bank raised rates by less than 15 basis points to 1 , 65 raised%. Despite raising its inflation forecast for this year and next, the Hungarian National Bank (NBH) announced that it would continue to raise interest rates in steps of 15 basis points, thereby slowing the rate of rate hikes by 30 basis points after three consecutive increases. The forint has fallen over 1% against the euro since Tuesday and has reduced its annual gains to 1.6%. The krone’s gains still top 3% this year as the debate among Czech interest rate setters shifts towards a faster tightening. “The NBH is in a tight spot as it has to keep raising rates due to high inflation, but they cannot raise too much as it could create a backlash,” said a forex trader in Budapest. “The elections are imminent, a lot of people are in debt and big rate hikes probably wouldn’t be good news for them,” the trader said, adding that potential spillover risks from the Evergrande crisis and rising energy prices also weighed on sentiment. Earlier on Friday, Hungarian Prime Minister Viktor Orban said he wanted to hasten an extra month of payments to retirees as it fueled a pre-election spending spree ahead of what is likely to be the highly competitive election early next year. Last week, Orban also relaxed repayment rules for retail credit card loans and overdrafts as part of an extended debt moratorium, which means that banks are charging lower interest rates on such loans. The Polish zloty lost 0.2% in early trading while the koruna was 0.1% weaker. Budapest stocks also lagged the region with a 0.45% decline as all blue chip stocks were slightly in the red. CEE SNAPSHO AT MARKETS T 1001 CET CURRENCIES Last previous daily change s Bid change in 2021 EURCZK Czech EURHUF Hungary 0 0 EURPLN Polish EURRON Romanian EURHRK Croatian EURRSD Serbian 0 0 Note: Calculated from 1800 daily CET change Last previous daily change s Final change in 2021 .PX Prague 1308.80 1307.55 +0.10% +27.42 00% .BUX Budapest 51714.4 51946.8 -0.45% +22.82 7 6% .WIG20 Warsaw <.WIG20 2316,17 2320,51 -0,19 % +16,74 > % .BETI Bukares 12,476.3 12,395.2 +0.65% +27.24 t 5 8% .SBITO Ljubljan <.SBITO 1173,89 1163,61 +0,88% +30,31 P a P> % .CRBEX Zagreb <.CRBEX 1981,75 1976,03 +0,29 % +13,94 > % .BELEX Belgrade <.BELEX 799,68 798,71 +0,12 % +6.82% 15 15> .SOFIX Sofia <.SOFIX 562.60 561.58 +0.18% +25.71 > % Yield Yield Spread Daily (monetary) change compared to the Bund Change in the Czech Spread Republic CZ2YT = 2 years s CZ5YT = 5 years s CZ10YT s Poland PL2YT = 2 years s PL5YT = 5 years s PL10YT s FORWARD 3×6 6×9 9×12 3M interba nk Czech Republic Hungary Poland Note: are for FRA prices on request ************ *************************** *** ****************** (reporting by Gergely Szakacs; editing by Rashmi Aich)

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Failure to raise the debt ceiling can lead to delays in social security and child tax breaks: What to do if you need money now https://winwinlose.net/failure-to-raise-the-debt-ceiling-can-lead-to-delays-in-social-security-and-child-tax-breaks-what-to-do-if-you-need-money-now/ https://winwinlose.net/failure-to-raise-the-debt-ceiling-can-lead-to-delays-in-social-security-and-child-tax-breaks-what-to-do-if-you-need-money-now/#respond Thu, 23 Sep 2021 17:02:24 +0000 https://winwinlose.net/failure-to-raise-the-debt-ceiling-can-lead-to-delays-in-social-security-and-child-tax-breaks-what-to-do-if-you-need-money-now/ The federal government will soon be unable to meet its financial obligations unless the legislature increases or suspends the debt ceiling before the beginning of the next fiscal year on October 1st. (iStock) According to the Treasury Department, the federal government will soon be unable to meet its financial obligations for the first time in […]]]>

The federal government will soon be unable to meet its financial obligations unless the legislature increases or suspends the debt ceiling before the beginning of the next fiscal year on October 1st. (iStock)

According to the Treasury Department, the federal government will soon be unable to meet its financial obligations for the first time in history if Congress does not raise or suspend the debt ceiling.

The House of Representatives passed a bill between the party lines on Tuesday to suspend the borrowing limit until 2022, and it is likely to face opposition from Republicans in the Senate.

Senate minority leader Mitch McConnell (R-Ky.) Previously stated that no GOP legislature would support raising the debt ceiling. Democratic leaders, including Senate Majority Leader Chuck Schumer (DN.Y.), were quick to point out that Congress had ordered a two-year debt ceiling suspension under the Trump administration.

Treasury Secretary Janet Yellen, in a letter to House Speaker Nancy Pelosi, California, earlier this month urged Capitol Hill lawmakers to address the debt ceiling “through regular ordinance with broad bipartisan support.”

At a time when American families, communities, and businesses are still suffering from the effects of the ongoing global pandemic, it would be especially irresponsible to compromise the full faith and creditworthiness of the United States.

– Treasury Secretary Janet Yellen, September 8 letter to Congress

AOC aims to expand unemployment insurance in the event of a pandemic

It is uncertain whether the current legislation will win enough votes in the Senate to deal with the debt crisis. In a comment published by the Wall Street Journal, Yellen warned of “economic disaster” if the federal government hits the debt ceiling before a budget decision.

About 50 million seniors may temporarily be banned from receiving social security checks as of October, and child tax credits could also be delayed, Yellen said. Federal employees, including military personnel, can remain unpaid.

If you are among the millions of Americans who would be hit by an impending government shutdown, now is a good time to start preparing your finances. Consider a few options for extra cash, including taking out a personal loan or refinancing your existing loans.

Credible’s online marketplace allows you to compare a wide variety of financial products so you can be sure of getting the lowest interest rate for your situation.

3 steps to consider when looking for cash fast

Even if your federal paycheck is suspended or your child tax credit is delayed, you will still have to meet your financial obligations like housing benefits and other bills. Missing the due date for your debt can affect your creditworthiness and result in costly late fees. Consider these loan options if you need cash right now.

3 WAYS HOW INFLATION AFFECTS YOUR WALLET AND HOW TO COMBAT RISING PRICES

Unlock home equity by refinancing your mortgage

With property values ​​at record highs and mortgage rates below 3%, homeowners can cash out their home equity at historically low rates Interest rate with mortgage refinancing.

With a cash-out mortgage refinancing, you take out a major home loan to repay your current mortgage. You can access the difference in cash to pay off debts, balance your budget, or use whatever you want.

For example, if you owe $ 200,000 on your mortgage, but If your home is valued at $ 400,000, you can consider a new $ 250,000 home loan to access $ 50,000 in cash.

Remember that mortgage loan refinancing has disbursements associated with closing costs, which are typically around 1.5% of the loan amount. Also, refinancing to a new, larger mortgage costs more interest payments over the life of the loan. However, if you qualify for a much lower mortgage rate, it can make up for the total cost of the refinancing.

Use Credible’s mortgage payment calculator to estimate your new monthly home payment and decide if this is a smart move for you. You can also pre-qualify to see mortgage refinancing rates from multiple lenders without affecting your creditworthiness.

SENATE BILL AIMS FOR STUDY LOANS IN COMPETITION

Take out a private lump-sum loan

While you may be tempted to write emergency expenses on a credit card, it can be easy to get caught up in a cycle of high-yield revolving debt. As an alternative, consider taking out a personal loan.

Personal loans offer quick, lump-sum financing that you pay back over a set period of months. The interest rates are fixed, so you know exactly how much debt you owe and your monthly payments will stay the same.

Plus, personal loan rates are typically lower than credit cards. The average interest rate on a two-year personal loan for the second quarter of 2021 was 9.58%, according to the Federal Reserve, compared to 16.30% for credit card accounts with interest-bearing interest.

Personal loan interest rates vary widely from lender to lender, depending on the length and amount of the loan, as well as the borrower’s credit history. This is why it is important to shop around with multiple lenders to get the lowest possible interest rate for your situation.

On Credible, you can compare personal lender interest rates in minutes.

DO YOU HAVE BAD CREDIT? YOU MAY PAY FOR HOME OWNERSHIP INSURANCE, STUDY FIND

Lower your student loan payments with refinancing

Federal student loan payments are currently subject to administrative toleration, but that protection does not extend to private student loans. If you’re struggling to make your personal student loan payments, consider refinancing while interest rates are near all-time lows.

Student loan refinancing can help you save money on interest rates, lower your monthly payments, and even get rid of debt faster. Remember, by refinancing your federal student loan into a private loan, you won’t be eligible for federal benefits like COVID-19 deferral and income-based repayment plans.

Use a student loan refinance calculator to see if you can save money on paying your private student loan. If you decide to refinance your student loans, be sure to compare multiple private lenders at the same time on Credible.

$ 1 Billion ADDITIONAL STUDENT LOAN Settlement UNDER PRESIDENT BIDEN EXTENDED

Do you have a finance-related question but don’t know who to contact? Send an email to the credible money expert at moneyexpert@credible.com and your question could be answered by Credible in our Money Expert section.

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The liberal arts doctorate leaves borrowers with nearly $ 200,000 in student loan debt on salaries of $ 40,000, a study found https://winwinlose.net/the-liberal-arts-doctorate-leaves-borrowers-with-nearly-200000-in-student-loan-debt-on-salaries-of-40000-a-study-found/ https://winwinlose.net/the-liberal-arts-doctorate-leaves-borrowers-with-nearly-200000-in-student-loan-debt-on-salaries-of-40000-a-study-found/#respond Wed, 22 Sep 2021 21:49:57 +0000 https://winwinlose.net/the-liberal-arts-doctorate-leaves-borrowers-with-nearly-200000-in-student-loan-debt-on-salaries-of-40000-a-study-found/ items A postsecondary degree can leave borrowers with six-figure student loan balances, but it’s important to remember that government grants aren’t “free money.” Read on to learn more about the average student loan debt and how to pay it off. Budding engineers, doctors, and lawyers must earn an advanced post-secondary degree, which can cost hundreds […]]]>

A postsecondary degree can leave borrowers with six-figure student loan balances, but it’s important to remember that government grants aren’t “free money.” Read on to learn more about the average student loan debt and how to pay it off.

Budding engineers, doctors, and lawyers must earn an advanced post-secondary degree, which can cost hundreds of thousands of dollars. While taking on student loan debt you can pay off in the form of a higher income, That’s not always like that.

A doctorate in the humanities has the lowest payoff potential, according to a new study carried out by Dr. Andrew Gillen, an economist with the Texas Public Policy Foundation. These graduates are tasked with paying off nearly $ 200,000 worth of student loans on a salary of just $ 40,000.

Dr. Gillen compiled data from the Ministry of Education to estimate how many federal student loan graduates have amassed based on their subject of study. Unsurprisingly, some of the largest post-secondary graduate debt balances are in medical fields such as dentistry ($ 138,857), medicine ($ 179,553)) and optometry ($ 178,870).

But among the programs that almost guarantee a well-paying career, some other advanced degrees came at a surprisingly high price: Alternative Medicine ($ 230,103), Dispute Resolution ($ 135,844).) and liberal arts ($ 199,115), for example.

copy-college-graduate-student-loan-debt-by-credential-1.jpg

BIDEN ADMINISTRATION PROBLEMS “FINAL RENEWAL” OF THE STUDENT LOAN PERIOD

While a college degree can open doors to more advanced areas, it is important for students to understand the implications of taking on high student loan debt. Remove six figure debt studying in a relatively poorly paid area can be “disastrous” for graduates, added Dr. Gillen added.

If you are struggling to pay off large college debt, consider your student loan repayment options such as refinancing a private student loan. You can Compare student loan refinancing rates without affecting your creditworthiness with Credible.

EDUCATION DEPARTMENT LAUNCHES INQUIRY TO FIX THE PSLF PROGRAM

What is the average student loan debt?

The average student loan debt per borrower depends on the type of degree. The average amount of debt students take on for a bachelor’s degree is $ 23,000 compared to $ 144,000 for a professional degree.

The total cost of student debt also depends on the academic field. The most expensive course is a PhD in Pharmaceutical Sciences, which leaves graduates with $ 271,378 in federal student loan debt. However, with an average salary of $ 119,806, this career path is more likely to pay off.

In contrast, a master’s degree in accounting on a salary of $ 60,311 leaves the student in debt of $ 28,341. A bachelor’s degree in computer science costs just $ 17,052 but pays off quickly with an average salary of $ 69,338.

College-grad-student-loan-debt-according-credentials.jpg

BIDEN ADMINISTRATION OFFENSE ANOTHER $ 5.8 BILLION OF STUDENT LOAN DEBT

Dr. Gillen said one of the study’s key findings is the high levels of debt borrowers are taking out degrees.

“At the undergraduate level, we have limits on how many students can take in, but what they have done is, for the most part, limited over-indebtedness at the undergraduate level,” he said. “At the graduate level, over-indebtedness is really worrying.”

The state loan limits for students are $ 31,000 for dependent students and $ 57,500 for independent students. but PLUS loans for PhD students don’t have the same credit limits, making it easier to get over-indebted when acquiring a post-secondary degree. Plus, PLUS loans have the highest interest rate of all federal loans at 6.28%.

WHAT TO DO IF YOUR STUDENT LOAN SERVICER IS CLOSED

How to Reduce Student Loan Debt

Spending on student loans can be costly on your budget and prevent you from reaching financial milestones like saving for retirement and buy a house. However, there are ways to pay off your student loan debt faster and even save money in the process. Here are some steps to consider.

STUDIES AT UNIVERSITIES HAVE RISEN 33% SINCE 2000: HOW TO COVER RISING COSTS

Refinancing at low interest rates

When refinancing the student loan, you take out a new student loan with better conditions to repay your current loan. Qualifying for a lower student loan interest rate can help reduce your monthly payments, are debt free faster and save money over the loan term.

With student loan refinancing rates near all-time lows, now is a good time to start refinancing your student loan debt. Well-qualified borrowers who refinanced themselves with Credible for a shorter loan period were able to pay off their debt years faster and Save nearly $ 17,000 over time.

If you have government student loans, keep that in mind Refinancing to a private lender means you lose federal benefits like COVID-19 deferral, income-oriented repayment plans, and student loan allocation programs.

You can Learn more about student loan refinancing and compare the interest rates on Credible.

FAFSA APPLICATIONS FOR THE 2022-23 SCHOOL YEAR OPEN SOON

Sign up for automatic payments

Setting up a direct deposit for your student loans ensures you won’t miss a single payment, but there is an added benefit of signing up for automatic payments. Many lenders offer an Autopay discount in the form of a lower interest rate that can help you save even more money while you pay off your debt.

98% OF PUBLIC SERVICE LOANS REFUSED

Pay more than the minimum to reduce interest costs

Paying your student loan is the minimum you owe, but you can save thousands and pay off your debt faster if you can afford to make more than the minimum payment. Use Credible’s loan calculator to see how you can save money by repaying your loans faster during the life of the loan.

AVOID THE MISTAKES ON THE STUDENT LOAN IF YOU LIVE OUTSIDE THE CAMPUS

Do you have a finance-related question but don’t know who to contact? Send an email to the credible money expert at moneyexpert@credible.com and your question could be answered by Credible in our Money Expert section.

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Personal loan rates fall – 3-year rates fall to their lowest level since July https://winwinlose.net/personal-loan-rates-fall-3-year-rates-fall-to-their-lowest-level-since-july/ https://winwinlose.net/personal-loan-rates-fall-3-year-rates-fall-to-their-lowest-level-since-july/#respond Tue, 21 Sep 2021 19:50:11 +0000 https://winwinlose.net/personal-loan-rates-fall-3-year-rates-fall-to-their-lowest-level-since-july/ Our goal here at Credible Operations, Inc., NMLS Number 1681276, hereinafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote products from our partner lenders who reward us for our services, all opinions are our own. The latest trends in personal loan interest […]]]>

Our goal here at Credible Operations, Inc., NMLS Number 1681276, hereinafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote products from our partner lenders who reward us for our services, all opinions are our own.

The latest trends in personal loan interest rates from the Credible marketplace, updated weekly. (iStock)

Borrowers with good credit who looked for personal loans in the week of September 13, 2021 received a prequalification for both the 3- and 5-year terms compared to the fixed-rate loans of the previous week.

For borrowers with a credit score of 720 or greater who used the Credible marketplace to select a lender in the week of September 13th:

  • The interest rates on 3-year fixed-rate loans averaged 11.14%, down from 11.97% the previous week and 12.10% a year ago. This is the lowest since the week of July 12th, when the average rate was just 10.97%. Last year, The 3-year personal loan interest rates were lowest in the week of August 3, 2020, averaging 10.45%.
  • The interest rates on 5-year fixed-rate loans averaged 14.88%, down from 15.30% the previous week and 14.10% a year ago. 5-year personal loan rates hit a low of 12.62% in the week of May 3, 2021 over the past 12 months.

Personal loans have become a popular way to consolidate and pay off credit card debt and other loans. They can also be used to cover unexpected expenses like medical bills, do a major purchase, or fund home improvement projects.

After rising toward 12% in the week of September 6th on private fixed loan rates for 3 years, they returned to one of their lowest levels of the year last week. The 5-year fixed interest rates also fell to 14.88% – which is significantly less than in the two preceding weeks. Borrowers looking to refinance other high-interest debt should opt for a 3-year personal loan to take advantage of this low interest rate before it goes up.

Whether a personal loan is right for you often depends on several factors, including what interest rate you may qualify for. Comparing multiple lenders and their rates can help ensure that you get the best possible personal loan for your needs.

It’s always a good idea to compare on sites like Credible to understand how much you qualify for and choose the best option for you.

Here are the latest trends in personal loan interest rates from the Credible marketplace.

Weekly personal loan rate trends

The graph above shows average prequalified interest rates for borrowers with a credit score of 720 or higher who used the Credible marketplace to select a lender.

For the month of August 2021:

  • The 3-year personal loan interest rates averaged 11.47%, down from 11.35% in July.
  • The interest rates on 5-year personal loans averaged 14.34%, up from 13.67% in July.

Personal loan interest rates vary significantly depending on creditworthiness and loan duration. If you want to know what type of personal loan rates you can qualify for, you can use an online tool like Credible to compare the options of different personal lenders. Checking your rates doesn’t affect your creditworthiness.

All of the lenders on the Credible marketplace offer fixed rate loans at competitive rates. Because lenders use different methods to evaluate borrowers, it is a good idea to obtain personal loan rates from multiple lenders so that you can compare your options.

Current personal loan rates by creditworthiness

Depending on factors such as your creditworthiness, the type of personal loan you are looking for, and the loan term, the interest rate can vary.

As shown in the graph above, good credit can mean a lower interest rate, and interest rates tend to be higher on loans with fixed rates and longer repayment periods.

This is how you get a lower interest rate

Many factors affect the interest rate that a lender offers you on a personal loan. However, there are a few steps you can take to increase your chances of getting a lower interest rate. Here are some tactics you can try.

Increase creditworthiness

Generally, people with higher credit scores qualify for lower interest rates. Steps that can help you improve your credit score over time include:

  • Pay bills on time. Payment history is the most important factor in determining your creditworthiness. Pay all your bills on time when they are due.
  • Check your credit report. Take a look at your credit report to make sure there are no errors. If you find mistakes, dispute them with the Schufa.
  • Lower your credit utilization. Paying off credit card debt can improve this important credit rating.
  • Avoid opening new credit accounts. Only apply for and open credit accounts that you actually need. Too many tough inquiries about your credit report in a short amount of time can lower your credit score.

Choose a shorter repayment term

The repayment periods for personal loans can range from one to several years. In general, shorter terms come with lower interest rates because the lender’s money is at risk for a shorter period of time.

If your financial situation allows, you can get a lower interest rate by applying for a shorter term. Remember, the shorter term is not just for the benefit of the lender – if you choose a shorter term, you will pay less interest over the life of the loan.

Get a co-signer

You may be familiar with the concept of a co-signer when you have a student loan. If your credit isn’t good enough to qualify for the best personal loan interest rates, finding a co-signer with good credit can help you get a lower interest rate.

Remember, if you default on the loan, your co-signer will be on the hook to repay it. And signing a loan could also have an impact on their creditworthiness.

Compare the rates from different lenders

Before applying for a personal loan, it is a good idea to shop around and compare quotes from different lenders in order to get the lowest interest rates. Online lenders usually offer the most competitive rates – and can pay off your loan faster than a brick and mortar company.

But don’t worry, comparing prices and conditions doesn’t have to be a time-consuming process.

Credibility makes it easy. Just enter how much you want to borrow and you can compare multiple lenders to choose the one that makes the most sense for you.

About believable

Credible is a multi-lender marketplace that enables consumers to find financial products that best suit their particular circumstances. Credible’s integration with leading lenders and credit bureaus enables consumers to quickly compare accurate, personalized credit options – without compromising their personal information or compromising their creditworthiness. The Credible marketplace offers an incomparable customer experience, which is reflected in over 4,500 positive Trustpilot reviews and a TrustScore of 4.7 / 5.

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First-time buyers continue to benefit from lower interest rates https://winwinlose.net/first-time-buyers-continue-to-benefit-from-lower-interest-rates/ https://winwinlose.net/first-time-buyers-continue-to-benefit-from-lower-interest-rates/#respond Tue, 21 Sep 2021 09:31:10 +0000 https://winwinlose.net/first-time-buyers-continue-to-benefit-from-lower-interest-rates/ The South African Reserve Bank, at its last meeting in July, left the repo rate, the rate at which the central bank lends money to banks, at 3.5%. This is the lowest in over 50 years and is the result of consistent cuts from July 2019 that add up to 300 basis points. While low […]]]>

The South African Reserve Bank, at its last meeting in July, left the repo rate, the rate at which the central bank lends money to banks, at 3.5%. This is the lowest in over 50 years and is the result of consistent cuts from July 2019 that add up to 300 basis points.

While low interest rates aren’t always good news (just ask those looking to save), they definitely support a buyers market for potential homeowners.

For many people, the rate cuts meant an opportunity to move from the rental market to property despite the economic turmoil caused by a global pandemic, says Nondumiso Ncapai, Head of Product at Absa Home Loans.

“People began to see the gap between monthly rent payments and the likely repayment of bonds shrinking,” she says. “We saw an increase in requests after the initial bans were relaxed in 2020.”

Increase affordability

As an example, Ncapai points out that the monthly repayments of a R 1 million bond borrowed at a prime rate over 20 years would now be almost R 2,000 less per month than before the rate cut by 300 basis points.

For those who managed to weather the pandemic storm and keep their monthly source of income, this is certainly tempting.

“What happened in the market was actually pretty interesting,” she says. “It has recovered in a way we didn’t expect.”

Ncapai’s department at Absa is responsible for developing products and financial solutions that meet clients’ needs, as well as developing new digital solutions that allow the bank’s clients to work with the Home Loan team in as effortlessly as possible To get in touch. One example is the online channel that now allows customers to apply for a home loan in less than 15 minutes, making the process simple and straightforward even for first-time buyers. Customers also receive a free uninterruptible power supply (UPS) to their new home when they register their home loan with Absa.

Advice for prospective property owners

For the buyers out there who still want to join the homeowners club, she gives some advice.

“A bank will always consider your affordability when assessing your credit needs. So it is very important to make sure that you are making the right decision for you and your situation, ”she says.

“You have to look at your budget and see what you can repay – it depends on buying where you can.”

She urges potential homeowners to plan ahead and save to pay a down payment on their home. If you want some bargaining power over the interest rate, a down payment goes a long way.

“The deposit also helps you save interest over time and shortens the life of the loan. You can see 10% of what you ask the bank to do [for],” She says.

It’s also important to remember all of the other costs associated with buying a property.

“There are costs for registering bonds, transfer costs including transfer fees. There is [also the] Costs that many forget – moving costs. Then there are tariffs, levies, insurance and maintenance, ”says Ncapai.

The decision whether to hold your bond at a floating base rate or to set your repayment rate for a certain period of time (always at a certain price as the bank has to calculate the risk taken) is a personal decision.

“You as a consumer have to decide if you want it at this point,” says Ncapai. “It is important to remember that at any point there will be a fee that you will have to pay if you wish to terminate the fixed rate contract earlier than agreed with the bank. It is therefore important to understand where the market is going, but also what you as a consumer expect from it. “

Get your house in order before you apply

Ncapai believes it is beneficial for potential homeowners to know what the bank will look for when evaluating a bond. When customers know what’s in the spotlight, they can prepare accordingly.

“Start looking at and understanding your income and expenses. The bank will also look at your credit exposure – try to limit the latter, ”she says.

“Use your free annual credit check to understand your own credit status and adjust it if necessary.”

“You can keep track of your expenses and schedule a down payment for the day you contact the bank to apply for a loan,” she says.

Presented by Absa Retail and Business Banking.

Moneyweb does not endorse any product or service advertised in sponsored articles on our platform.

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American Airlines is partnering with Bill Gates to provide $ 100 million for green technology research https://winwinlose.net/american-airlines-is-partnering-with-bill-gates-to-provide-100-million-for-green-technology-research/ https://winwinlose.net/american-airlines-is-partnering-with-bill-gates-to-provide-100-million-for-green-technology-research/#respond Mon, 20 Sep 2021 22:27:43 +0000 https://winwinlose.net/american-airlines-is-partnering-with-bill-gates-to-provide-100-million-for-green-technology-research/ American Airlines will contribute $ 100 million to a new green technology fund led by Bill Gates that aims to stimulate research into technologies that can reduce carbon emissions. Microsoft, Bank of America, Blackrock and General Motors are among other high profile companies that joined the Breakthrough Energy Catalyst fund on Monday. The group aims […]]]>

American Airlines will contribute $ 100 million to a new green technology fund led by Bill Gates that aims to stimulate research into technologies that can reduce carbon emissions.

Microsoft, Bank of America, Blackrock and General Motors are among other high profile companies that joined the Breakthrough Energy Catalyst fund on Monday. The group aims to provide low-interest loans and other low-cost investments to get green technology projects off the ground.

American Airlines, based in Fort Worth, has joined the rest of the aviation industry to achieve high carbon reduction targets over the next 30 years, including targets to eliminate their entire carbon footprint by 2050. However, there is no clear way for American or any other airline to get there based on current technology.

“Climate change is an acute and imminent challenge, and it certainly is the case in aviation,” said Jill Blickstein, managing director of American Airlines, who leads the company’s environmental efforts. “Other transport sectors have a way to decarbonize, but aviation doesn’t.”

The Breakthrough Energy Catalyst Fund and American Airlines’ investment are, in some ways, an admission that current technology is not a solution to the upcoming environmental problems that climate scientists have pointed out.

The emerging electric vehicle and truck industries are not viable for the aviation sector. American Airlines has agreed to invest up to $ 1 billion in a UK manufacturer of experimental short-haul aircraft. But airline executives, including American CEO Doug Parker, have admitted that there is no electrical solution to transport hundreds of people hundreds and thousands of kilometers, as is the case with commercial aircraft.

“A new industrial revolution is needed to avoid a climate catastrophe,” Gates said in a statement accompanying the announcement of the partnerships. “Half of the technology needed to achieve zero emissions either doesn’t exist yet or is too expensive for much of the world.”

But unlike American’s investments in electric aircraft, the company is unlikely to pay off directly financially, even if it opens up the market to more alternative fuels in the future.

“I think we recognize and appreciate the fact that this has the potential to affect the entire aviation industry,” said Blickstein.

It’s no small price to pay for American, which is roughly $ 50 billion in debt after borrowing $ 22 billion to keep the company afloat during the COVID-19 pandemic.

Of the mutual fund’s target areas, American places the greatest emphasis on sustainable aviation fuel, an emerging fuel source that uses recycled waste such as cooking oils to make kerosene. In theory, using sustainable aviation fuel reduces CO2 emissions by around 80%.

American Airlines is committed to purchasing up to 9 million gallons of sustainable aviation fuel over the next three years, and some of the American planes departing from San Francisco International Airport already run on a mix of regular jet fuel and sustainable aviation fuel.

Competing airlines such as Southwest Airlines, based in Dallas, United based in Chicago, and Delta Air Lines, based in Atlanta, have all made commitments on sustainable aviation fuel.

However, the entire sustainable aviation fuel industry only produces about 4.5 million gallons per year, compared to the more than 90 billion gallons of aviation fuel consumed by the global aviation industry.

Sustainable aviation fuel is also three to five times more expensive than traditional aviation fuel, so airlines need more production and lower prices.

“We need the SAF market to grow a thousandfold compared to today,” said Blickstein. “There are fuels made from waste oils, but the production capacities we need are not yet available.”


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SBI, PNB, Canara Bank Home Loan Processing Fee https://winwinlose.net/sbi-pnb-canara-bank-home-loan-processing-fee/ https://winwinlose.net/sbi-pnb-canara-bank-home-loan-processing-fee/#respond Mon, 20 Sep 2021 10:22:11 +0000 https://winwinlose.net/sbi-pnb-canara-bank-home-loan-processing-fee/ New Delhi: The major public banks State Bank of India (SBI), Punjab National Bank (PNB) and Canara Bank offer low interest rates on home loans. This can cheer up home loan seekers over the holiday season as they have the opportunity to own a dream home.Also Read – Karnataka 2nd PUC Results 2021 ANNOUNCED on […]]]>

New Delhi: The major public banks State Bank of India (SBI), Punjab National Bank (PNB) and Canara Bank offer low interest rates on home loans. This can cheer up home loan seekers over the holiday season as they have the opportunity to own a dream home.Also Read – Karnataka 2nd PUC Results 2021 ANNOUNCED on karresults.nic.in, know the steps to review the results here | Direct link inside

SBI, PNB, Canara Bank mortgage rates

  • PNB offers zero percent processing or upfront fees and documentation fees for home loans.
  • The Punjab National Bank also charges an interest rate of 6.80 percent per year on home loans.
  • Borrowers can avail home loans at affordable EMIs from Canara Bank. You will get a permit immediately, said the bank.
  • Canara Bank Home Equity Loans At Affordable EMIs! Apply for a home loan here and get instant approval, ”Canara Bank tweeted.
  • Canara Bank offers 6.90 percent interest on the home loan.
  • SBI has issued creditworthy home loans at 6.70 percent, regardless of the amount. Prior to the festive offering, a borrower who took out a loan of more than Rs 75 lakh had to pay an interest rate of 7.15 percent, according to an IANS report.
  • “With the introduction of the festive offers, a borrower can now take a home loan of any amount at an interest rate of only 6.70 percent. The offer results in a saving of 45 basis points, which corresponds to an enormous interest saving of more than Rs 8 lakh on a loan of Rs 75 lakh with a term of 30 years, ”the IANS report states.
  • That being said, the SBI has removed the distinction between an employed and a non-employed borrower. “Now there is no job-related interest rate premium charged by potential home loan borrowers. This would result in a further interest saving of 15 basis points for non-employed borrowers. “Previously, the interest rate for a non-employed borrower was 15 basis points higher than that for salaried borrowers, according to the IANS report.

Also read – IPL 2022: David Warner, Ravi Ashwin to Jos Buttler – RCB players could buy as a replacement for Captain Virat Kohli at auction Also Read – The Family Man: Manoj Bajpayee celebrates 2 years of the show with a bizarre scene, fans ask “Season 3 Kab Aayega?”

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Mortgage rates are falling, opening the door to refinancing savings a little wider https://winwinlose.net/mortgage-rates-are-falling-opening-the-door-to-refinancing-savings-a-little-wider/ https://winwinlose.net/mortgage-rates-are-falling-opening-the-door-to-refinancing-savings-a-little-wider/#respond Sun, 19 Sep 2021 21:30:00 +0000 https://winwinlose.net/mortgage-rates-are-falling-opening-the-door-to-refinancing-savings-a-little-wider/ Mortgage rates are falling, opening the door to refinancing savings a little wider With projections that mortgage rates will rise before the end of the year, the opportunity for homeowners to save money by refinancing their home loans may soon pass. However, borrowers have been given more time to act. After practically freezing for weeks […]]]>

Mortgage rates are falling, opening the door to refinancing savings a little wider

With projections that mortgage rates will rise before the end of the year, the opportunity for homeowners to save money by refinancing their home loans may soon pass.

However, borrowers have been given more time to act. After practically freezing for weeks in the wake of pandemic economic uncertainty, interest rates on some of America’s most popular mortgage products have fallen again, according to a closely watched survey.

That means another period of historically low mortgage rates. But how long it will take – a couple of days, a couple of weeks – is impossible to know.

30 year fixed rate mortgage

Place house and coins on the wooden table

Puttachat Kumkrong / Shutterstock

The average interest rate on a 30-year fixed-rate mortgage fell from 2.88% to 2.86% last week, mortgage giant Freddie Mac reported Thursday.

Although the change was minimal, it’s still more activity than the rates have seen in a while.

“It’s Groundhog Day for mortgage rates as they have been practically unchanged for over two months,” said Sam Khater, Freddie Mac’s chief economist. “The hold pattern in interest rates reflects the market’s view that the outlook for the economy has deteriorated somewhat due to the recovery of new COVID cases.”

But today’s challenges are just not in the same league as the total panic that crippled much of the US economy last year. And the positive economic news affects mortgage rates more than the bad.

Keep this in mind: The government’s latest job report was particularly disappointing, as it showed that August created far fewer than 235,000 jobs.

But since the report was released on September 3, the 30-year fixed rate has barely moved. In contrast, the far brighter July jobs report resulted in an almost immediate spike in mortgage rates.

It doesn’t take an overwhelming amount of positivity to move rates up.

15 year fixed rate mortgage

The average rate on 15-year fixed-rate mortgages saw a more marked decline last week, from 2.19% to 2.12%. At the same time a year ago, the 15-year festival averaged 2.35%.

The 15 year slump is particularly gratifying for homeowners considering refinancing. Due to the shorter term, you will pay less interest during the term of your loan and own your home sooner than with a term of 30 years.

A shorter loan period means higher monthly payments, so 15 year mortgages are not for everyone. But the potential savings make the loans worth considering.

It’s important to remember that Freddie Mac’s numbers are just an average, which means there are lenders out there offering even lower rates than Freddie reported.

5/1 adjustable mortgage rates

Advantages and Disadvantages of Fixed Rate Mortgages and Variable Rate Mortgages.

Vitalii Vodolazskyi / Shutterstock

Bucking the trend of tiny declines, five-year floating rate mortgages, or 5/1 ARMs, rose last week.

The average rate for a 5/1 ARM increased from 2.42% to 2.51%. Although ARM rates have increased, at this point they are still much lower than they were last year when they averaged 2.96%.

ARMs are interesting products. Your interest rate is fixed for the first phase of the loan, but is adjusted up or down regularly thereafter.

For example, a 5/1 ARM starts with a five-year fixed income period. After that, your lender adjusts your interest rate every year.

Prices are expected to rise

A positive housing market concept and a graphic

Tyler Olson / Shutterstock

Nobody knows exactly when it will come, but the end of low mortgage rates and refi bonanza for millions of homeowners is coming.

The latest rate forecast by Freddie Mac sees the 30-year fixed rate this year averaging 3.1%, which means a steady increase over the next three months. The Mortgage Bankers Association industry group predicts that the 30-year maturity will reach 3.3% in the fourth quarter of this year – and 4% in the summer of 2022.

Much of what happens to interest rates depends on future action by the Federal Reserve.

The Fed has helped keep mortgage rates low in two ways: by keeping its benchmark interest rate, known as the federal funds rate, near zero; and by buying billions of dollars’ worth of bonds and mortgage-backed securities.

The federal funds rate is unlikely to move until the economy is COVID-free, but the Fed could begin rolling back its purchase program before the end of the year.

Corey Burr, senior vice president at TTR Sotheby’s International Realty in Washington, DC, expects the Fed’s throttling to raise interest rates on 10-year government bonds, which directly affect mortgage rates, by about half a percentage point.

“This will increase mortgage rates by half an eighth or five-eighth point,” predicts Burr.

How to get an extremely low interest rate from a lender

Focused young family couple listening to African American mortgage lender.

fizkes / shutterstock

To make sure that you are refinancing your mortgage at the lowest interest rate that you can get, you need to shop around. Lenders can offer very different rates. So take a moment to compare rates from at least five lenders and see who is offering the best rate for your budget.

In order to convince a lender to offer you a low interest rate, a solid credit history is required. Take a quick, free look at your credit history and see if you would benefit from a small loan repairs before applying for your loan

Once you have refinanced your mortgage, you can use the savings to top up your overall finances by either paying off debts or investing through an app that helps you build your portfolio with just “change”.

If you are not interested in refinancing or are not comfortable with it, you can still cut the cost of owning a home. When it is time to renew your home insurance, get quotes from multiple insurers to make sure you don’t overpay.

This article is for information only and is not intended as advice. It is provided without any guarantee.

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Prepared for growth, Home BancShares in Texas is off to a happy start https://winwinlose.net/prepared-for-growth-home-bancshares-in-texas-is-off-to-a-happy-start/ https://winwinlose.net/prepared-for-growth-home-bancshares-in-texas-is-off-to-a-happy-start/#respond Sun, 19 Sep 2021 07:09:30 +0000 https://winwinlose.net/prepared-for-growth-home-bancshares-in-texas-is-off-to-a-happy-start/ Getting happy may just be the beginning for Home BancShares Inc. in Texas. Conway Bank announced Wednesday that it will pay $ 919 million in shares to purchase Happy Bancshares Inc. of Amarillo, Texas. The transaction, which is expected to close in the first quarter of next year, anchors Home BancShares deep in the heart […]]]>

Getting happy may just be the beginning for Home BancShares Inc. in Texas.

Conway Bank announced Wednesday that it will pay $ 919 million in shares to purchase Happy Bancshares Inc. of Amarillo, Texas. The transaction, which is expected to close in the first quarter of next year, anchors Home BancShares deep in the heart of Texas and gives the lender a strong foundation to expand its operations in the state with additional merger and acquisition opportunities.

In addition, Arkansas Bank says it is “creating a panhandle-to-panhandle dominant Southern institution,” citing its strong market presence in Florida, Home BancShares’ largest and most prolific market. Upon closing, Home BancShares is expected to have $ 24 billion in assets, $ 14 billion in loans and $ 19 billion on deposits.

With a $ 919 million acquisition, Home is making a Texas-sized bet that it can deliver solid results by bringing its western neighbor into its operation.

“If we can do as well as Florida’s panhandle for us, we will put an end to it and do very well,” said Terry French, chairman and chief executive officer of Centennial Bank, on a conference call with industry analysts following the deal presented.

The leap across the border now brings Home BancShares to two of the fastest growing states in the country. The 2020 census found that Texas was the third fastest growing state in the nation over the past decade, with a population growth of nearly 16%. Florida ranked seventh with a population growth of 14.6%.

Texas alone offers a target group-rich environment – the takeover includes banks in Austin, Fort Worth and a suburb of San Antonio. World Population Review ranks these cities in the top five fastest growing metropolitan areas in the United States.

In fact, the Interstate 35 corridor connecting Austin to San Antonio has exploded in the past decade. For example, the city of New Braunfels on the northeast tip of San Antonio grew 56% according to 2021 census data.

In addition to a growing population, Texas offers a banking market that is “fragmented and should offer more M&A opportunities” for Home BancShares, bank analysts from Stephens Inc. reported the transaction. Analysts found that the Texan market includes 31 banks with assets between $ 2 billion and $ 10 billion, compared to just 14 combined in Arkansas and Florida, Home’s two largest legacy markets.

Home BancShares complements a proven Happy Bancshares acquisition team. The Texas bank has expanded its activities in the pan primarily through acquisitions, purchasing four banks since January 2020 with assets between $ 58 million and $ 795 million. John Allison, Chairman and Chief Executive Officer of Home, is familiar with the Texan marketplace as he served as a director of First Commercial Corp., which operated in the state.

In a presentation on the deal, Home BancShares said the deal presents an “opportunity to better compete in future consolidations in Texas.”

Allison noted that consolidation and integration of the two companies is a priority now, although future purchases are being considered. “We are constantly looking for M&A,” he told bank analysts on Wednesday’s conference call.

All of these factors make for a warm welcome to Home and Happy combined operations.

On Thursday, Stephens increased his earnings per share for the combined company from $ 1.58 to $ 1.65 for 2022 and raised his earnings per share forecast for 2023 from $ 1.66 to $ 1.80. The investment banking firm also raised Home BancShares’ price target to $ 29 per share from $ 27.

BANKING GUIDE

Executives from Little Rock Venture Center and Simmons Bank are hosting a lunch workshop Tuesday to help small businesses learn more about building an effective relationship with their bank.

The hour-long session covers topics such as figuring out exactly what a small business bank needs and what factors affect credit.

Small business owners are learning to speak the language of bankers so that operators can stay one step ahead when applying for credit.

The Simmons Board includes Dee Davenport, Senior Vice President and Trust Manager; Carole J. Smith, senior vice president and business development officer; and David Stogsdill, Head of Divisional Marketing.

OFFICE SALES

Acadia Properties of Little Rock has purchased an office building on 11219 Financial Center Parkway for $ 2.15 million.

Acadia, registered to Ali Raja, purchased the 32,767-square-foot Financial Park Place building near the Interstate 630-430 intersection in West Little Rock.

Hermitage Development Corp., which sold the property, was represented by Clark Irwin at Colliers of Arkansas. Acadia was represented by Reed Gibbons with the RPM Group.

“This property obviously benefits from great visibility from Financial Center Parkway and its freeway access,” Irwin said in a statement. “Additionally, the western Little Rock office market within central Arkansas MSA continues to perform well, making this a good investment property for its new owners.”

MORE MONEY AVAILABLE

The U.S. Small Business Administration is increasing the amount borrowers can apply for through the Covid-Related Economic Injury Agency’s catastrophe loan program.

Starting October 8, small business owners, including farms and nonprofits in all states, can apply for up to $ 2 million under the initiative. Loans are capped at $ 500,000.

The loans come directly from SBA and must be repaid. The low interest fixed rate loans are designed to help small businesses overcome the economic damage caused by the pandemic by providing working capital to cover operating costs. Loans have a term of 30 years and payments can be deferred for the first two years, with interest accruing.

Working capital includes regular payments for business expenses such as payroll, rent or mortgage, utilities, and other ordinary business expenses. The loans can also be used to settle business debts at any time.

Further information or an application can be found at covid19relief.sba.gov.

Ideas or Recommendations column? Thoughts or Thoughts to Follow? Contact me at amoreau@adgnewsroom.com or at 501-378-3567.

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