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April 17, 2021

Loans

Business owners of color faced greater challenges getting loans amid pandemic, report finds — even when they were a low credit risk

CBS News
CBS News – For more and to sign up click here Eliuth Guzman’s catering business was providing 1,000 lunches a week to downtown Chicago offices before COVID-19. It was a major victory for the business owner, who had been rejected for financing by banks numerous times leading up to 2019.......

Qatar National Bank’s Q1 net profit falls 7% as provisions climb

Reuters
DUBAI, April 11 (Reuters) – Qatar National Bank (QNB) , the biggest lender in the Gulf, said on Sunday its first quarter net profit fell by 7% from a year earlier to 3.3 billion riyals ($906 million) as it booked 1.4 billion riyals in “precautionary” loan loss provisions. The bank’s......

Georgia voting law, Chauvin trial, and student loans: Top columns

USA Today
USA TODAY – For more and to sign up click here USA TODAY In today’s fast-paced news environment, it can be hard to keep up. For your weekend reading, we’ve started in-case-you-missed-it compilations of some of the week’s top USA TODAY Opinion pieces. As always, thanks for reading, and for your feedback. — USA TODAY Opinion......

Forgiving $50,000 in student loans is a bad idea for Biden and America

USA Today
USA TODAY – For more and to sign up click here USA TODAY Some prominent Democrats, including Senate Majority Leader Chuck Schumer and Sen. Elizabeth Warren, are pressuring President Joe Bidento forgive up to $50,000 in student loan debt by issuing an executive order. This is a bad idea on so many levels......

U.S. Treasury’s Yellen says with aid, Hispanic firms can lead recovery

Reuters
FILE PHOTO: U.S. Treasury Secretary-designate Janet Yellen in Wilmington, Delaware, U.S., December 1, 2020. REUTERS/Leah Millis/File Photo WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Tuesday that she believes Hispanic entrepreneurs can help lead the United States out of crisis if longstanding barriers to their access to capital......

World Bank re-engages with Sudan following arrears clearance

Reuters
KHARTOUM (Reuters) – The World Bank will shortly begin the process of allocating some $2 billion in grants to Sudan, a bank official said, representing the country’s return to the international financial system after decades of isolation. Priority areas for the funds will be defined following meetings early next month,......

UK ministers reject Sanjeev Gupta’s bailout plea – FT

Reuters
FILE PHOTO: Liberty Steel’s Sanjeev Gupta smiles outside the company’s Liberty Steel processing mill in Dalzell, Scotland, Britain April 8, 2016. REUTERS/Russell Cheyne (Reuters) – British ministers have rejected a request from mining magnate Sanjeev Gupta for a 170 million pound emergency loan to prevent his group, GFG Alliance, from......

Small businesses have 2 more months to apply for forgivable PPP loans. Here’s what you need to know

CNBC
CNBC – For more and to sign up click here A small business owner in Chinatown, San Francisco Source: CNBC The Senate on Thursday passed the PPP Extension Act of 2021 with overwhelming support, extending the deadline for the Paycheck Protection Program to May 31 from March 31. Passage of......

United Wholesale Mortgage says its crosstown war with Quicken Loans is paying off

CNBC Real Estate
The CEO of United Wholesale Mortgage on Wednesday defended a recent controversial move in a crosstown battle with rival Quicken Loans. UWM earlier this month said it would no longer work with any mortgage brokers who also conducted business with Quicken and another competitor, Fairway Independent Mortgage in Wisconsin. “I......

Germany extends liquidity aid for pandemic companies until year-end

Reuters
BERLIN (Reuters) – Germany has extended its liquidity aid program for pandemic-hit companies until the end of this year, the finance and economy ministries said on Thursday as Europe’s largest economy is struggling to contain a third wave of coronavirus infections. The government also decided to lift the upper limit......

Mesa West Capital Originates First Loans Out of Newly Formed Special Situations Platform

@BreaknNews
   123 N Wacker LOS ANGELES – March 23, 2021 – — Mesa West Capital has funded $47 million in mezzanine capital to finance separate commercial real estate transactions in Chicago and San Diego.  Both loans were part of overall debt packages with first mortgage loans originated by Wells Fargo......

Boeing enters into $5.28 billion revolving credit agreement

Reuters
FILE PHOTO: The Boeing logo is displayed on a screen, at the New York Stock Exchange (NYSE) in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid/File Photo (Reuters) – Boeing Co said on Monday it had entered into a $5.28 billion, two-year revolving credit agreement, as the U.S. planemaker contends......

Boeing enters into $5.28 billion revolving credit agreement

Reuters
FILE PHOTO: The Boeing logo is displayed on a screen, at the New York Stock Exchange (NYSE) in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid/File Photo (Reuters) – Boeing Co said on Monday it had entered into a $5.28 billion, two-year revolving credit agreement, as the U.S. planemaker contends......

Exclusive: U.S. plans to send four million doses of AstraZeneca vaccine to Mexico, Canada – official

Reuters
WASHINGTON (Reuters) – The United States plans to send roughly 4 million doses of AstraZeneca’s COVID-19 vaccine that it is not using to Mexico and Canada in loan deals with the two countries, an administration official told Reuters on Thursday. FILE PHOTO: A vial with the AstraZeneca’s coronavirus disease (COVID-19)......

U.S. Senate confirms Fudge as Biden’s housing, urban development secretary

Reuters
FILE PHOTO: U.S. Rep. Marcia Fudge, U.S. President-elect Joe Biden’s nominee to head the Department of Housing and Urban Development, speaks after Biden announced her nomination among another round of nominees and appointees during a news conference at his transition headquarters in Wilmington, Delaware, U.S., December 11, 2020. REUTERS/Mike Segar......

New rules for self-employed and gig workers applying for PPP loans are out. Here’s what you need to know

CNBC
CNBC – For more and to sign up click here chee gin tan | E+ | Getty Images The Small Business Administration on Wednesday released a new application and loan calculation formula for Paycheck Protection Program loans for self-employed and gig workers. For these small businesses, it will mean larger......

Chinese fintech platforms should meet capital requirements in two years

Reuters
FILE PHOTO: China’s top banking regulator Guo Shuqing speaks to reporters on the sidelines of the National People’s Congress (NPC) at the Great Hall of the People in Beijing, China, March 5, 2019. REUTERS/Thomas Peter BEIJING (Reuters) – China’s financial technology companies have a maximum of two years to meet......

UK consumer credit slumped as new lockdown hit in January: BoE

Reuters
FILE PHOTO: A general view shows The Bank of England in the City of London financial district in London, Britain, November 5, 2020. REUTERS/John Sibley//File Photo LONDON (Reuters) – British consumer borrowing fell at its fastest pace in January since May last year as the country went back into a......

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