figurines net – The Dreamsicles http://thedreamsicles.com/ Thu, 23 Sep 2021 01:24:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://thedreamsicles.com/wp-content/uploads/2021/06/favicon-12-150x150.png figurines net – The Dreamsicles http://thedreamsicles.com/ 32 32 Exorbitant loan rates leave consumers struggling – Boston 25 News https://thedreamsicles.com/exorbitant-loan-rates-leave-consumers-struggling-boston-25-news/ https://thedreamsicles.com/exorbitant-loan-rates-leave-consumers-struggling-boston-25-news/#respond Thu, 23 Sep 2021 01:24:00 +0000 https://thedreamsicles.com/exorbitant-loan-rates-leave-consumers-struggling-boston-25-news/ BOSTON – Many people who are struggling to make ends meet are looking for quick loans online to be successful. Carlos Maldonado needed the money quickly to pay some bills. He went online and found Integra Credit. “It sounded very honest, so I just kept clicking,” said Maldonado. But Maldonado asked for help after noticing […]]]>

BOSTON – Many people who are struggling to make ends meet are looking for quick loans online to be successful.

Carlos Maldonado needed the money quickly to pay some bills. He went online and found Integra Credit.

“It sounded very honest, so I just kept clicking,” said Maldonado.

But Maldonado asked for help after noticing he had to pay an interest rate of over 100%.

“This is what they sent me,” Carlos Maldonado said, showing his loan documents.

He was approved for a loan of $ 2,500 and then noticed that after making the payments he still had a high balance. Maldonado asked for documents and found he had to pay an interest rate of 141% and the cost of the loan was $ 3,200. In total, he is expected to repay $ 5,700.

“141% just doesn’t make sense to the dumbest person in the world,” Maldonado said.

The Consumer Financial Protection Bureau has received 20 complaints about Integra Credit from dissatisfied customers in the past two years. A consumer claimed he was charged 275% interest.

“Lenders are certainly taking advantage of people’s desperation and their need to lock them into high interest rate loans like this,” said consumer lawyer Jared Lee.

Lee says that in some states, Maldonado’s loan would have a capped interest rate, but he says some online lenders have found a way around state-regulated rate limits.

“There is actually a practice commonly known as bank leasing where non-bank entities use a chartered bank just to create a loan and then transfer that loan to the entity that actually makes the loan,” Lee said.

Integra Credit uses a bank in Utah, where there is no limit on the rates that lenders can charge borrowers.

“Legislative efforts are underway to explore the possibility of a cap on domestic interest rates, and this is something consumers should consider and decide their opinion,” Lee said.

Integra Credit did not respond to requests for comment.

Maldonado says the high rate loan keeps him from paying for his diabetic needs. “This company takes the money I’m supposed to put in on drugs, giving it to them just doesn’t make sense.”

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Jamestown obtains a loan for a water distribution project https://thedreamsicles.com/jamestown-obtains-a-loan-for-a-water-distribution-project/ https://thedreamsicles.com/jamestown-obtains-a-loan-for-a-water-distribution-project/#respond Wed, 22 Sep 2021 17:22:30 +0000 https://thedreamsicles.com/jamestown-obtains-a-loan-for-a-water-distribution-project/ BISMARCK, ND (NDDEQ) – The North Dakota Department of Environmental Quality (NDDEQ) has provided loans for water supply and sanitary sewer projects to two communities through the Fund Programs renewables from the state in August. Jamestown received a loan of $ 1,991,000 from the State Revolving Drinking Water Fund (DWSRF) to replace parts of the […]]]>

BISMARCK, ND (NDDEQ) – The North Dakota Department of Environmental Quality (NDDEQ) has provided loans for water supply and sanitary sewer projects to two communities through the Fund Programs renewables from the state in August.

Jamestown received a loan of $ 1,991,000 from the State Revolving Drinking Water Fund (DWSRF) to replace parts of the existing water distribution system. As a result, three blocks of pipes will be enlarged and ten blocks will be replaced with pipes of the same size. This project will ensure the safe transmission of water to residents.

Wahpeton received a state revolving fund for water sanitation of $ 1,964,000 and a DWSRF loan of $ 1,103,000 for the replacement of a water main, storm sewer and aging sanitary. This project will ensure the safe transmission of water, sanitary wastewater and stormwater to residents.

The United States Environmental Protection Agency provides part of the funding for SRF programs, which provides loans at below market interest rates to political subdivisions for the funding of projects authorized under the Clean Water Act and the Safe Drinking Water Act. SRF programs operate nationwide to provide funds to maintain and improve the infrastructure that protects our vital water resources.

Loans are granted to projects on the NDDEQ priority projects list based on the eligibility and repayment capacity of the projects.


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Couple Describe ‘Anguish’ Upon Getting Forgiven On Student Loan – NBC4 Washington https://thedreamsicles.com/couple-describe-anguish-upon-getting-forgiven-on-student-loan-nbc4-washington/ https://thedreamsicles.com/couple-describe-anguish-upon-getting-forgiven-on-student-loan-nbc4-washington/#respond Tue, 21 Sep 2021 23:33:07 +0000 https://thedreamsicles.com/couple-describe-anguish-upon-getting-forgiven-on-student-loan-nbc4-washington/ While many people may have been able to put student loan payments on hold during the pandemic, some of those bills are starting to come again later this year. “The mental anguish caused by all of this has been pretty significant,” said Ann Wysock. Last spring Mike and Ann Wysock and their three children were […]]]>

While many people may have been able to put student loan payments on hold during the pandemic, some of those bills are starting to come again later this year.

“The mental anguish caused by all of this has been pretty significant,” said Ann Wysock.

Last spring Mike and Ann Wysock and their three children were planning to move to Scotland for new jobs, but had to leave on two shifts. Ann Wysock had an unfinished business with a student loan officer.

“When we found out that everything they had told us from the start was not true, this emotional upheaval was horrible,” she said.

Ann and Mike Wysock enrolled in the federal government’s Public Service Loan Forgiveness Program (PSLF) after earning a doctorate in physiotherapy. This involves a 10-year obligation to work in the public service, as Ann Wysock did as a therapist in public schools and her husband did in a clinic for patients with neurological trauma.

In return, the student loan debt is canceled. For the Wysocks, that was a total of $ 400,000.

But as Mike Wysock says, “Rules are everywhere, and they willfully make it hard to follow.”

“People have told the federal government by the thousands to look into this entrepreneur,” he said.

The entrepreneur, FedLoan Servicing, oversees the loans of 8.5 million student borrowers, but online comments from attendees show things may not be going so well for registrants.

Massachusetts lashed out at the service agent, accusing him of handling defaults that hurt borrowers. FedLoan did not admit any wrongdoing and settled this matter.

FedLoan said “the vast majority of allegations” in the case were “unfounded”.

After completing their 120-month contract, the Wysocks say that FedLoan fulfilling its end of the bargain has become a job in itself.

“For over 10 years we have submitted – with exceptional detail – our tax forms, our employment certification forms which they review over and over and over again,” said Mike Wysock.

According to recent data, around 5% of borrowers who applied to the PSLF program administered by FedLoan were approved.

“Accountability just doesn’t exist for these service providers, and they manage billions of dollars,” said Mike Wysock.

In July, FedLoan announced that it would not renew its contract with the federal government at the end of the year.

“Federal loan programs, as administered by the US Department of Education, have become increasingly complex and difficult,” said a spokesperson.

Those who are currently pursuing the PSLF through FedLoan will eventually be matched with a new lender. In the meantime, keep track of the payments, including the amount and eligible employment.

Complaints can be filed with the Consumer Financial Protection Bureau if there are any issues when switching over for a federal student loan. It has a streamlined process, is very easy to use, and the status of the complaint can be tracked.


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Stamp Duty Exemption on Extended Eligible Loan Restructuring / Rescheduling Agreements https://thedreamsicles.com/stamp-duty-exemption-on-extended-eligible-loan-restructuring-rescheduling-agreements/ https://thedreamsicles.com/stamp-duty-exemption-on-extended-eligible-loan-restructuring-rescheduling-agreements/#respond Tue, 21 Sep 2021 10:25:26 +0000 https://thedreamsicles.com/stamp-duty-exemption-on-extended-eligible-loan-restructuring-rescheduling-agreements/ The Stamp Duty (Exemption) Decree (No.11) 2021 [P.U.(A) 367/2021] (‘Exemption order‘) which exempts eligible instruments from loan or financing agreements relating to the restructuring or rescheduling of loans or financing between borrowers or customers and financial institutions was published in the Official Journal on September 15, 2021 and is deemed to be entered into force […]]]>

The Stamp Duty (Exemption) Decree (No.11) 2021 [P.U.(A) 367/2021] (‘Exemption order‘) which exempts eligible instruments from loan or financing agreements relating to the restructuring or rescheduling of loans or financing between borrowers or customers and financial institutions was published in the Official Journal on September 15, 2021 and is deemed to be entered into force on July 1, 2021.

For the purposes of the exemption order, “restructuring or rescheduling”Means any modification made to the existing repayment terms of a loan or financing agreement under a concession granted by a financial institution1 due to the inability of the borrower or client to meet the existing repayment schedule due to deteriorating financial conditions.

To benefit from the exemption, the following conditions must be met:

  1. An exemption request must be submitted;
  2. The loan instrument or financing agreement relating to the restructuring or rescheduling of a loan or financing between a borrower or a client and a financial institution must be executed from July 1, 2021 but no later than December 31, 2021;
  3. The existing loan instrument or financing agreement has been duly stamped under Section 22 or Section 27 of the First Schedule of the Stamp Act 1949;
  4. The loan instrument or financing agreement relating to the restructuring or rescheduling of a financing loan must not contain the element of value added to the original amount of the loan or financing under the loan instrument or the existing financing agreement; and
  5. The exemption request must be accompanied by the relevant document relating to the restructuring or rescheduling of the loan or financing concerned.

Regarding the condition in paragraph 4, it should be noted that any increase in the loan or funding over the original amount foreseen under the existing loan instrument or funding agreement will result in disqualification. of the instrument or agreement of the stamp duty exemption under the exemption order. However, any interest or profit accrued on restructured or rescheduled payments is not considered an additional item of value over the original amount of the loan or financing under the existing loan instrument or financing agreement.

comments

The exemption from stamp duty under the exemption order is a continuation of the measures introduced under the Stamp Duty (Exemption) Decree (No. 2) 2020 [P.U.(A) 165/2020], as amended and extended by Decree on stamp duty (exemption) (n ° 2) 2020 (amendment) 2021 [P.U.(A) 27/2021]. This initiative will go a long way to help companies looking to restructure or reschedule their existing loans or financing due to the lingering financial difficulties resulting from the Covid-19 pandemic.

However, it should be noted that in order to qualify for a stamp duty exemption under the exemption order, an applicant must prove to the stamp office that the restructuring or rescheduling of repayment terms under a existing loan instrument or financing agreement is due. the inability of the applicant to meet the existing repayment schedule due to deteriorating financial conditions.


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KBRA releases ABS auto loan indices for August 2021 https://thedreamsicles.com/kbra-releases-abs-auto-loan-indices-for-august-2021/ https://thedreamsicles.com/kbra-releases-abs-auto-loan-indices-for-august-2021/#respond Mon, 20 Sep 2021 21:10:00 +0000 https://thedreamsicles.com/kbra-releases-abs-auto-loan-indices-for-august-2021/ NEW YORK–(COMMERCIAL THREAD) – Kroll Bond Rating Agency (KBRA) publishes its auto loan ABS indices for August 2021. August remittance reports showed a slowdown in credit performance in securitized auto loan pools during the July fundraising period, likely more due to seasonality than a change in fundamentals . Early stage defaults (30-59 days late) in […]]]>

NEW YORK–(COMMERCIAL THREAD) – Kroll Bond Rating Agency (KBRA) publishes its auto loan ABS indices for August 2021.

August remittance reports showed a slowdown in credit performance in securitized auto loan pools during the July fundraising period, likely more due to seasonality than a change in fundamentals . Early stage defaults (30-59 days late) in KBRA’s Prime Auto Loan Index increased 5 basis points (bps) month-over-month (MoM) to 0.82% , while late-stage defaults (over 60 days late) increased 1bp to 0.27%. At the same time, early and late defaults on the KBRA non-prime auto loan index rose 9bp and 10bp on MoM, respectively, to 6.77% and 3.53%. Annualized Net Losses (ANL) also tend to increase in both indices from the previous month, but remained below last year’s levels as the sharp increase in the value of used vehicles this year helped to stimulate loan recoveries.

Click on here to view the report.

About KBRA

KBRA is a full service credit rating agency registered in the US, EU and UK, and is designated to provide structured finance ratings in Canada. KBRA ratings may be used by investors for regulatory capital purposes in several jurisdictions.


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CoreVest Announces Expansion of Its Correspondent Channel For Commercial Lending With Pricing Of Its First Bridge Loan Securitization | national news https://thedreamsicles.com/corevest-announces-expansion-of-its-correspondent-channel-for-commercial-lending-with-pricing-of-its-first-bridge-loan-securitization-national-news/ https://thedreamsicles.com/corevest-announces-expansion-of-its-correspondent-channel-for-commercial-lending-with-pricing-of-its-first-bridge-loan-securitization-national-news/#respond Mon, 20 Sep 2021 10:30:00 +0000 https://thedreamsicles.com/corevest-announces-expansion-of-its-correspondent-channel-for-commercial-lending-with-pricing-of-its-first-bridge-loan-securitization-national-news/ NEW YORK, September 20, 2021 / PRNewswire / – CoreVest American Finance, LLC (“CoreVest”) today announced it is expanding its channel of commercial lending correspondents after pricing of CoreVest’s inaugural securitization of bridge loans on assets transitional housing. The securitization, CAFL-2021-RTL1, had an initial capital balance of $ 270 million and represents an interest in […]]]>

NEW YORK, September 20, 2021 / PRNewswire / – CoreVest American Finance, LLC (“CoreVest”) today announced it is expanding its channel of commercial lending correspondents after pricing of CoreVest’s inaugural securitization of bridge loans on assets transitional housing.

The securitization, CAFL-2021-RTL1, had an initial capital balance of $ 270 million and represents an interest in a pool of loans secured by transitional single-family, two-family, multi-family, condominium and mixed-use properties. The borrower’s strategies include aggregating rents, repairing and reversing, and building housing units from scratch. Although the transaction represents CoreVest’s first residential transitional loan securitization, it is the 18e issue on the CAFL securitization platform and enjoyed significant market support from both CoreVest’s investor base for CAFL securitizations backed by single-family rental loans and new entrants into the space. About 7.5% of loans came from the third party correspondent channel.

To support the growth of the platform through third-party creators, CoreVest hired Marc Heenan as Senior Vice President of Lender Partnerships to lead the increased effort. Marc joins CoreVest with over 20 years of experience in finance and real estate, including developing over 300 lender relationships for PeerStreet, a leading investment platform in the single-family rental and real estate market. bridging loans.

“Marc has considerable experience in the field and brings his considerable talents to CoreVest at a time when we are seeing increased demand for the commercial lending product in the capital markets,” said Christophe Hoeffel, president of CoreVest. “The execution of CAFL-2021-RTL1 supports the continued growth of the third party origination channel to meet investor demand. We anticipate that the acquired assets will be securitized with the original CoreVest products both in the bridging lending industry and within the 30-year stabilized DSCR Loan Company. “

Beth o’brien, CEO of CoreVest, said of the expansion: “Marc is a proven entrepreneur and CoreVest is an innovative market player who, since its inception, has opportunistically provided liquidity to third-party originators to complement its direct lending activities. see what Marc can accomplish by expanding this channel with the full support of a leading platform in the market. “

About CoreVest

CoreVest is the leading lender to residential real estate investors nationwide. It offers long-term loans for stabilized rental properties as well as short-term bridging loans, investment lines of credit and rental construction programs. With over 10 billion dollars in loans financed and 100,000 units financed, CoreVest offers attractive rates, rapid deadlines and certainty of closing. The company works directly with borrowers and brokers. For more information visit www.corevestfinance.com or contact us on LinkedIn, Facebook Where Instagram.

Media contact

Tuan pham

1-949-344-7884

tuan.pham@cvest.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/corevest-announces-expansion-of-its-correspondent-channel-for-business-purpose-loans-with-the-pricing-of-its-inaugural-bridge- loan-securitization-301380160.html

SOURCE CoreVest American Finance, LLC



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Biden did not cancel student loans, but does not pay for student loan forgiveness https://thedreamsicles.com/biden-did-not-cancel-student-loans-but-does-not-pay-for-student-loan-forgiveness/ https://thedreamsicles.com/biden-did-not-cancel-student-loans-but-does-not-pay-for-student-loan-forgiveness/#respond Sun, 19 Sep 2021 23:01:24 +0000 https://thedreamsicles.com/biden-did-not-cancel-student-loans-but-does-not-pay-for-student-loan-forgiveness/ President Joe Biden (Photo by Brook Christopher / WireImage) Wire picture President Joe Biden hasn’t canceled your student loans, but don’t pay for your student loan cancellation. Here’s what you need to know – and what it means for your student loans. Student loans If you follow the latest headlines on student loans, you know […]]]>

President Joe Biden hasn’t canceled your student loans, but don’t pay for your student loan cancellation.

Here’s what you need to know – and what it means for your student loans.

Student loans

If you follow the latest headlines on student loans, you know that Biden has not embraced full-scale student loan cancellation. Despite pressure from Senator Elizabeth Warren (D-MA) and Senate Majority Leader Chuck Schumer (D-NY) to cancel up to $ 50,000 in student loans, Biden chose to focus on canceling targeted student loans. Since becoming president, Biden has canceled more student loans than any president. This includes $ 10 billion in student loan cancellations, including $ 1.5 billion in student loans canceled in this way and $ 5.8 billion in canceled student loans for student loan borrowers with total and permanent disabilities. . (Find out here how to apply for a student loan forgiveness). Without a large-scale student loan forgiveness, you might be wondering, “Should you stop paying your student loans?” If you haven’t got your student loan forgiveness, you might be tempted to pay a company to help you with your student loan forgiveness. Why? The lack of large-scale student loan cancellations has resulted in some student loan borrowers falling victim to potential student loan scams. Here is what you need to know in order not to lose money:

1. There is no Biden student loan forgiveness

If someone promises you “Biden Student Loan Cancellation”, that’s a scam. The term “Biden student loan cancellation” refers to student loan cancellation through the US Department of Education for your federal student loans. Biden’s student loan cancellation also refers to the student loan cancellation adopted by Biden under applicable law. Therefore, “Biden student loan cancellation” refers to the cancellation of the federal student loan through the federal government. No business can cancel your student loans. Don’t believe a company that promises student loan forgiveness. (However, here’s how to get a student loan discount). A typical scam involves a company – usually through an email or ad – that promises to cancel your student loans through the Biden student loan forgiveness program. Here’s the thing: There is no Biden student loan forgiveness through a business. This scam resembles the Public Service Loan Forgiveness program, which Congress created and which President George W. Bush, not Biden, enacted in 2007. However, only the US Department of Education can cancel your student loans through the Public Service Loan Forgiveness program. , not a private company. (Biden Student Loan Cancellation Means 3 Things For Your Student Loans).



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Evergrande gave workers a choice: lend us money or lose your bonus https://thedreamsicles.com/evergrande-gave-workers-a-choice-lend-us-money-or-lose-your-bonus/ https://thedreamsicles.com/evergrande-gave-workers-a-choice-lend-us-money-or-lose-your-bonus/#respond Sun, 19 Sep 2021 06:27:36 +0000 https://thedreamsicles.com/evergrande-gave-workers-a-choice-lend-us-money-or-lose-your-bonus/ When struggling Chinese real estate giant Evergrande ran out of cash earlier this year, it turned to its own employees with a strong case: Those who wanted to keep their bonuses should give Evergrande a short loan. term. Some workers have asked friends and family for money to lend to the company. Others borrowed from […]]]>

When struggling Chinese real estate giant Evergrande ran out of cash earlier this year, it turned to its own employees with a strong case: Those who wanted to keep their bonuses should give Evergrande a short loan. term.

Some workers have asked friends and family for money to lend to the company. Others borrowed from the bank. Then, this month, Evergrande suddenly stopped repaying the loans, which had been billed as high-interest investments.

Today, hundreds of employees joined panicked homebuyers to demand reimbursement from Evergrande, rallying outside the company’s offices across China to protest last week.

Once China’s most prolific real estate developer, Evergrande has grown into the country’s most indebted company. It owes money to lenders, suppliers and foreign investors. He owes unfinished apartments to homebuyers and has racked up over $ 300 billion in unpaid bills. Evergrande faces lawsuits from creditors and has seen its shares lose more than 80% of their value this year.

Regulators fear that the collapse of a company the size of Evergrande will cause upheavals throughout China’s financial system. Yet, so far, Beijing has not intervened with a bailout, having promised to teach the indebted corporate giants a lesson.

Angry protests by homebuyers – and now the company’s own employees – could change that calculation.

Evergrande is at the mercy of buyers of nearly 1.6 million apartments, according to one estimate, and could owe tens of thousands of its employees money. While Beijing remains relatively silent on the future of the company, those who are owed money say they are getting impatient.

“We’re running out of time,” said Jin Cheng, a 28-year-old employee from the eastern city of Hefei, who said he invested $ 62,000 of his own money in Evergrande Wealth, the investment arm of the company, on demand. senior management.

As rumors circulated on the Chinese internet that Evergrande could go bankrupt this month, Mr. Jin and some of his colleagues gathered outside provincial government offices to pressure authorities to intervene.

In the southern city of Shenzhen, homebuyers and employees crowded into the lobby of Evergrande’s head office last week and screamed for reimbursement. “Evergrande, give back my money that I earned with blood and sweat!” some could be heard screaming in video footage.

Mr. Jin said employees at Fangchebao, Evergrande’s online platform for real estate and auto sales, have been told that each department should invest in Evergrande Wealth on a monthly basis.

Evergrande did not respond to a request for comment, but the company recently warned it was under “enormous” financial pressure and said it had hired restructuring experts to help determine its future.

It hasn’t always been that way.

For more than two decades, Evergrande has been China’s largest developer, making money out of a real estate boom on a scale the world has never seen. With each success, Evergrande has expanded into new areas: bottled water, professional sports, electric vehicles.

Banks and investors cheerfully invested the money, betting on China’s growing middle class and its appetite for homes and other properties. More recently, real estate has come under intense scrutiny from Chinese regulators who want to end the boom years and have forced the industry to start paying down debt.

The idea was to reduce the exposure of Chinese banks to the real estate sector. But in the process, regulators withdrew the money developers like Evergrande needed to finish building homes, leaving families without the homes they had already paid for.

“The Chinese financial system is really complex and when you see cracks like this you realize the impact it could possibly have on society,” said Jennifer James, investment manager at Janus Henderson Investors. “If Evergrande were to disappear tomorrow, it could be a socially systemic problem. “

Ms James and other investors said they only heard about Evergrande’s wealth management strategy involving its employees this month, when the company disclosed that he owed $ 145 million in repayments.

Evergrande has attempted to sell parts of his vast empire to raise new funds, but said last week he was “not sure the group would be able to close such a sale”. He accused the media of triggering panic among homebuyers with negative coverage.

But Evergrande’s funding channels started to dry up long before last week. According to employee interviews, state media reports and corporate documents seen by The New York Times, the company began forcing staff members to help bail it out as early as April, when she started selling short term loans.

About 70 to 80 percent of Evergrande employees across China were asked to donate money that would then be used to help fund Evergrande’s operations, Liu Yunting, consultant for Evergrande Wealth, recently told Anhui. Online Broadcasting Corporation, a public news group.

A version of this interview went offline on Friday. Anhui Online Broadcasting did not respond to a request for comment.

The scope of the campaign and the amount of money it could have raised was unclear. Employees were told to each invest a certain amount of money in Evergrande Wealth products, and if they didn’t, their performance pay and bonuses would be tied up, the employees told Anhui.

Company management said the investments were part of “supply chain finance” and would allow Evergrande to make payments to its suppliers, Liu said in his interview with Anhui. “Because we, the employees, had to fill a quota, we asked our friends and families to put in some money,” he said.

Mr. Liu said his parents and in-laws invested $ 200,000 and that he invested around $ 75,000 of his own money in Evergrande Wealth.

Even before the protests last week, Evergrande was on the wrong side of Beijing. At the end of last month, its executives were called to a meeting with regulators. Officials of major banking and insurance supervisory bodies in China Recount leaders to settle their huge debt in order to maintain the stability of the Chinese financial market.

The authorities’ biggest concern is the unfinished apartments at Evergrande. The company has nearly 800 developments underway in more than 200 cities across China.

Evergrande, which has often pre-sold apartments to raise funds before their completion, may still have to deliver up to 1.6 million properties to homebuyers, according to a Barclays estimate.

Under close scrutiny, Evergrande convened its senior executives earlier this month and asked them to publicly sign what he called a “military order” – a commitment to complete unfinished real estate developments.

Wesley Zhang and his family are among the hundreds of thousands of families still waiting for their apartments, and they are hopeful that the company will be able to deliver. Mr. Zhang, 33, joined other homebuyers who protested in Hefei last week after learning that Evergrande also owed its employees money.

“Everyone is anxious, we are like ants on a hot pan, having no idea what to do,” Mr. Zhang said, using a Chinese expression to describe the distress of seeing a investment of $ 124,000 potentially disappearing. He said he hoped the protests would spur the government to act before it was too late.

“We hope this will prompt the central government to pay enough attention,” Zhang said. “Then someone would come out to intervene. “


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How my government will spend $ 5 billion on a new loan https://thedreamsicles.com/how-my-government-will-spend-5-billion-on-a-new-loan/ https://thedreamsicles.com/how-my-government-will-spend-5-billion-on-a-new-loan/#respond Sat, 18 Sep 2021 18:12:08 +0000 https://thedreamsicles.com/how-my-government-will-spend-5-billion-on-a-new-loan/ In total, 15 projects, spread across the country’s six geopolitical zones, are to be financed with more than $ 4 billion from multilateral institutions, as part of the medium-term (rolling) external borrowing plan 2018-2021, according to the Presidency. President Muhammadu Buhari had asked the Senate to approve sovereign loans of 4.054 billion dollars and 710 […]]]>

In total, 15 projects, spread across the country’s six geopolitical zones, are to be financed with more than $ 4 billion from multilateral institutions, as part of the medium-term (rolling) external borrowing plan 2018-2021, according to the Presidency.

President Muhammadu Buhari had asked the Senate to approve sovereign loans of 4.054 billion dollars and 710 million euros as well as grant elements of 125 million dollars for the proposed projects.

According to the president’s letter, sovereign loans will come from the world Bank, Agence française de développement (AFD), China-Exim Bank, International Fund for Agricultural Development (IFAD), Credit Suisse Group and Standard Chartered / China Export and Credit (SINOSURE).

The President’s request to the Senate listed 15 proposed pipeline projects, objectives, period of implementation, benefiting states, as well as implementing ministries, departments and agencies (MDAs).

A breakdown of the “ Addendum to Proposed Pipeline Projects for the 2018-2021 Medium-Term (Rolling) External Borrowing Plan ” shows that the World Bank is expected to finance seven projects, including the $ 125 million grant for ” Better education services for all ”.

The Global Partnership for Education grant is expected to increase equitable access for out-of-school children and improve literacy in target states.

The grant, which will be implemented by the Federal Ministry of Education and the Commission for Universal Basic Education (UBEC), will strengthen accountability for results in basic education in Katsina, Oyo and Adamawa states. .

Other projects that will be financed by the World Bank are the State Program on Public Finances, Transparency, Accountability and Sustainability for Results as well as the Agro-Industry Support Project, productivity, improvement and improvement of livelihoods.

The beneficiary states of the agro-food project are Kogi, Kaduna, Kano, Cross River, Enugu and Lagos, with the Federal Ministry of Agriculture and Rural Development being the executing ministry.

The objective of the project is to improve the agricultural productivity of small and medium-sized farmers and improve added value along priority value chains in the participating states.

Likewise, the World Bank is also funding the Nigeria Sustainable Water Supply, Sanitation and Hygiene (WASH) project in Delta, Ekiti, Gombe, Kaduna, Katsina, Imo and Plateau states, for the next five years.

The project, when completed, is expected to improve rural water supply, sanitation and hygiene nationwide with a view to achieving the Sustainable Development Goals (SDGs) for water supply and sanitation by 2030.

Under the External Borrowing Plan, World Bank-supported projects also include Nigeria’s COVID-19 Preparedness and Response Project (COPREP), under the supervision of the Federal Ministry of Health and the Nigerian Center for disease control (NCDC).

The project, which has an implementation period of 5 years, will respond to threats posed by COVID-19 through the purchase of vaccines.

In addition, no less than 29 states are listed as beneficiaries of the Agro-climatic Resilience in the Arid Zone Landscape project, which is expected to reduce natural resource management conflicts in Nigeria’s dry and semi-arid ecosystems.

The beneficiary states of the project co-financed by the World Bank and the European Investment Bank (EIB) are: Akwa Ibom, Borno, Oyo, Sokoto, Kano, Katsina, Edo, Plateau, Abia, Nasarawa, Delta, Niger, Gombe, Imo , Enugu, Kogi, Anambra, Niger, Ebonyi, Cross River, Ondo, Kaduna, Kebbi, Jigawa, Bauchi, Ekiti, Ogun, Benue, Yobe and Kwara.

The World Bank is also funding the Livestock Productivity and Resilience project in no less than 19 states and the Federal Capital Territory (FCT).

China EXIM Bank is expected to finance the construction of the Apapa-TinCan Island Port Branch, as part of the Lagos-Ibadan Railway Modernization Project.

The French Development Agency will finance two projects, including the national digital identity management project and the Kaduna rapid bus transport project.

The digital identity project will be co-financed with the World Bank and the EIB.

READ ALSO : APC and PDP fight over Buhari’s new loan application

The value chain development program to be financed by IFAD and implemented in Anambra, Benue, Ebonyi, Niger, Ogun, Taraba, Nasarawa, Enugu and de Kogi will empower 100,000 farmers, including over 6,000 and 3,000 processors and traders respectively.

The loan facility to be provided by the European ECA / KfW / IPEX / APC will be devoted to the construction of the Standard Track Rail (SGR) connecting Nigeria to the Republic of Niger of Kano-Katsina-Daura-Jibiya-Maradi with a branch to Dutse.

The specific title of the project, Kano-Maradi SGR with a branch in Dutse, has an implementation period of 30 months and will be implemented by the Federal Ministry of Transport.

The China Development Fund for Africa through the Bank of China is expected to provide a loan facility of $ 325 million for the establishment of three energy and renewable energy projects, including the Phase 1 and II solar cell production facility, production of electrical transformers, plants 1, II, III and high voltage testing laboratory.

The National Agency for Scientific and Technical Infrastructure (NASENI) will implement the project aimed at increasing local capacities and capacities in the development of energy and renewable technologies and infrastructure.

Credit Suisse will finance major industrialization projects as well as micro, small and medium enterprise projects to be executed by the Bank of Industry while SINOSURE and Standard Chartered Bank will provide funds for the provision of solar energy infrastructure. 17 MW hybrid for the National Assembly (NASS) complex.

The project, with an implementation period of five years, is expected to address the ‘power supply deficit of NASS and reduce the higher overhead costs associated with the operation and maintenance of fossil fuel generators (installed capacity of 25 MW) to supply the assembly complex ”.

Garba Shehu

Senior Special Assistant to the President

(Media and advertising)

September 18, 2021

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To the. Judge Sends Loan Action Against Tribal Co. to Arbitration https://thedreamsicles.com/to-the-judge-sends-loan-action-against-tribal-co-to-arbitration/ https://thedreamsicles.com/to-the-judge-sends-loan-action-against-tribal-co-to-arbitration/#respond Sat, 18 Sep 2021 01:12:00 +0000 https://thedreamsicles.com/to-the-judge-sends-loan-action-against-tribal-co-to-arbitration/ By Andrew Westney (September 17, 2021, 9:12 p.m. EDT) – An Alabama federal judge has referred to arbitration a woman’s proposed class action claiming that a company owned by the Oglala Sioux tribe charged excessive interest for online loans, claiming that his own victory against the company did not allow him to pursue his broader […]]]>
By Andrew Westney (September 17, 2021, 9:12 p.m. EDT) – An Alabama federal judge has referred to arbitration a woman’s proposed class action claiming that a company owned by the Oglala Sioux tribe charged excessive interest for online loans, claiming that his own victory against the company did not allow him to pursue his broader claims in federal court.

U.S. District Chief Justice Kristi K. DuBose, in an order, on Thursday approved an American Arbitration Association panel ruling that Alabama resident Lillian Easley’s loan contracts with the company WLCC II, which operates as the online lender Arrowhead Advance, were void.

But Judge DuBose rejected Easley’s offer to file claims for a proposed class of Alabama loan clients who …

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