Small Loan – 4 Walls And A View http://4wallsandaview.com/ Mon, 27 Jun 2022 19:29:44 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://4wallsandaview.com/wp-content/uploads/2021/06/icon-5.png Small Loan – 4 Walls And A View http://4wallsandaview.com/ 32 32 SBA expands small business pool with new rule change | PLC Bass, Berry & Sims https://4wallsandaview.com/sba-expands-small-business-pool-with-new-rule-change-plc-bass-berry-sims/ Mon, 27 Jun 2022 19:29:44 +0000 https://4wallsandaview.com/sba-expands-small-business-pool-with-new-rule-change-plc-bass-berry-sims/ On June 6, the U.S. Small Business Administration (SBA) issued a final rule changing its methodology for calculating small business size using an employee-based size standard and allows businesses participating in its loans to business, disaster loans, surety and small Business Investment Company (SBIC) programs allow the option to choose to use a three- or […]]]>

On June 6, the U.S. Small Business Administration (SBA) issued a final rule changing its methodology for calculating small business size using an employee-based size standard and allows businesses participating in its loans to business, disaster loans, surety and small Business Investment Company (SBIC) programs allow the option to choose to use a three- or five-year revenue average to determine eligibility. The final rule will come into effect on July 6, 2022.

First, the rule, amending 13 CFR § 121.106, increases the calculation period for employee-based height standards from 12 months to an average of 24 months and applies to all SBA small business and socio-economic programs. . The change implements Section 863 of the National Defense Authorization Act (NDAA) of 2021, amending Section 3(a)(2)(C)(ii)(I) of the Small Business Act.

Notably, the rule will not provide a transition period during which companies can choose to calculate their size using the 12-month or 24-month period, as allowed by the SBA with the implementation of the Small Business Runway. Extension Act of 2018 (SBREA). The SBA argues that a transition period is not necessary at this stage of the economic recovery, as employment “returns to pre-pandemic levels.”

The SBA believes the rule will allow businesses “to better adjust to short- and medium-term increases in employment” and deliver its programs to an increased number of beneficiaries enabling the small business community and the economy in general to better recover from the COVID-19 pandemic. In addition, “the SBA [expects] 24-month employee average is lower than the 12-month average for most companies,” resulting in 435 companies “extending or regaining” status and approximately $158 million in additional contracts given to small businesses.

Some commentators have expressed concern that the rule would direct more funding to small and medium-sized businesses with the resources to supplant smaller businesses. The SBA pushed back against criticism, arguing that the 24-month average period is a better overall measure of company size and that the new assessment period provides a “broader track.” [for businesses] to grow and become competitive for federal opportunities. In addition, the SBA anticipates that the expanded pool of potential recipients will prompt the federal government to reserve more contracts for small businesses.

Second, the new rule changes the rules for calculating the size of businesses participating in the SBA’s business loan, disaster loan, bonding, and small business investment (SBIC) programs. When the SBA implemented SBREA, the agency changed its receipt-based size standards for everything except its business and disaster loan programs. The new rule extends these changes to the programs mentioned above, allowing companies to choose to calculate their average annual revenue using a three-year or five-year average.

The SBA hopes that choosing the average will result in more companies being eligible to benefit from the agency’s programs. For example, businesses that recently lost eligibility may regain status, and growing businesses will most likely be able to continue to benefit from SBA programs.

The rules and regulations regarding eligibility for SBA programs are numerous and can be confusing. Misrepresentation of size standards can lead to a ban from competing on specific contracts, criminal investigations and fines. The Defense Criminal Investigations Office of the Inspector General of the Department of Defense has made investigating cases of misrepresentation an agency priority. As we discussed in a previous blog post, after obtaining credible evidence of violations due to distorted size standards, government contractors are required to disclose such violations in writing. It is essential that businesses follow and understand the relevant SBA rules before certifying as a small business.

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Best Small Business Loans for Gigsters https://4wallsandaview.com/best-small-business-loans-for-gigsters/ Sat, 25 Jun 2022 23:53:39 +0000 https://4wallsandaview.com/best-small-business-loans-for-gigsters/ As a gigster, you probably come across many situations where you need money that you don’t have on hand. You want to start a new business, but you need an expensive machine or equipment. Or maybe you want to expand a current business but don’t have the necessary capital. Whether you want to start a […]]]>

As a gigster, you probably come across many situations where you need money that you don’t have on hand. You want to start a new business, but you need an expensive machine or equipment. Or maybe you want to expand a current business but don’t have the necessary capital.

Whether you want to start a new business idea, invest in real estate for an ongoing business, or need funds for another reason, a small business loan can help you achieve your professional goals.

This article discusses some common types of small business loans and the best lender options for finding financing today.

Key points to remember

  • With the wide variety of small business loans, you’re sure to find one that meets your needs.
  • Kabbage offers the most flexible loan options for small businesses.
  • Fundera offers low-risk SBA loans to help businesses build credit.
  • BlueVine provides small business loans to those with low credit scores.
  • FundingCircle offers the best term loans for small businesses.
  • Kiva provides the best microloans to unbanked borrowers.
  • OnDeck offers term loans with the possibility of disbursement on the same day.

Types of Small Business Loans

Many financing options exist for small business loans. What’s best for you depends on your credit, collateral, and situation. Review the types of loans below to learn more about some of the more common types.

Term loans

When they hear the word loan, most people think of a term loan. The lender gives the borrower a lump sum, which the borrower repays in fixed monthly installments with interest. Most auto loans, home loans, and personal loans fall into the term loan category.

Unlike some types of loans that limit where the money goes, term loans offer flexible financing for anything you might need. You can use a term loan to finance large equipment purchases, pay new employees, or cover day-to-day expenses.

Commercial mortgages

Business owners purchase commercial real estate using commercial mortgages. These loans work the same way as other term loans with the lending of a lump sum and the repayment via fixed monthly installments. You can use a commercial mortgage to purchase commercial property, renovate an existing property, or even refinance another commercial real estate loan.

SBA Loans

Backed by the government, Small Business Administration (SBA) loans provide capital at lower interest rates and less risk to the borrower. These loans are very useful, but the application process is often long. Approval for an SBA loan can take months, so reconsider this option if you need cash fast.

Commercial lines of credit

Many business owners are opting for lines of credit over traditional loans to borrow only what they need. Lines of credit offer revolving credit limits and only charge interest on what you withdraw. If you need variable amounts of money over a long period of time, a business line of credit can help you maintain your cash flow.

Microcredits

Business owners who need a small amount of money take out microloans of up to $50,000. Some microloan lenders charge ridiculously high interest rates, but you can find affordable microloan with the right lender.

The type of small business loan you need depends on your business and your circumstances. For example, an SBA loan may be the perfect financing option if you need a low-risk loan with low interest rates and fees.

Small Business Loans for Gigsters

Below you will find a list of the best small business loans offered by private lenders. These options include term loans, lines of credit, SBA loans, microloans, and loans with low credit score requirements.

Kabbage: the most flexible loans

If you need capital but aren’t sure how much, Kabbage offers a great solution. Kabbage customers are approved for a certain amount of financing, provided through a line of credit.

Since you don’t have to take out the entire loan amount all at once, you only pay interest on what you’ve spent. Kabbage provides maximum flexibility by allowing business owners to borrow what they need when they need it rather than taking out an excessive term loan.

Fundera: Best SBA Loans

If getting into debt makes you nervous, try an SBA loan for government support, lower interest rates and reduced fees. Fundera offers SBA loans to help small business owners with limited credit histories and lower credit scores.

BlueVine: Best loans for bad credit

BlueVine is another small business loan option if your credit score needs improvement. This private lender offers financing for small businesses with FICO scores as low as 530. If you need capital but don’t qualify for many loans, BlueVine can provide the financing you need.

FundingCircle: Best Term Loans

FundingCircle offers small business loans up to $250,000. They only require a minimum credit score of 600 and can offer same-day disbursement depending on where you live and your loan amount. However, business owners in Nevada, North Dakota, and South Dakota are not eligible for loans from FundingCircle.

FundingCircle doesn’t charge prepayment fees, so you won’t be penalized for making prepayments on your loan.

Kiva: the best microloans

If you’re an unbanked business owner, you’re probably struggling to qualify for business loans. Kiva offers interest-free microloans between $1,000 and $15,000 to help these business owners get the financing they need. Kiva does not require a minimum credit score, but they do need investors in the form of friends and family members.

OnDeck: the best loans on the same day

If you need same-day financing, consider OnDeck. This private lender offers business owner loans with same-day disbursement (up to $100,000 in some states). OnDeck only requires a minimum credit score of 600 and offers loans up to $250,000.

Find a small business loan from these top lenders to jump-start your efforts to achieve your goals, whether you’re starting a new business or need capital for a current small business. If you’re looking for more tips for running a small business, click this link to check out some of them. essential business finance advice Nearside small business banking experts.

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Meet America’s Richest Self-Made Women, How Two Africans Overcame Their Biases to Build a Billion-Plus Startup for Small Business Owners https://4wallsandaview.com/meet-americas-richest-self-made-women-how-two-africans-overcame-their-biases-to-build-a-billion-plus-startup-for-small-business-owners/ Wed, 22 Jun 2022 10:00:00 +0000 https://4wallsandaview.com/meet-americas-richest-self-made-women-how-two-africans-overcame-their-biases-to-build-a-billion-plus-startup-for-small-business-owners/ Introducing this week’s bi-weekly edition of The Pursuit newsletter, bringing the latest small business and entrepreneur news and commentary straight to your inbox on Wednesday mornings. Click here to subscribe to the newsletter list! In recent news, Forbes launched its eighth annual list of America’s Richest Self-Made Women, a ranking that highlights the entrepreneurial success […]]]>

Introducing this week’s bi-weekly edition of The Pursuit newsletter, bringing the latest small business and entrepreneur news and commentary straight to your inbox on Wednesday mornings. Click here to subscribe to the newsletter list!

In recent news, Forbes launched its eighth annual list of America’s Richest Self-Made Women, a ranking that highlights the entrepreneurial success and fortunes of the 100 richest and most successful businesswomen.

Of the 100 members of the list, 38 are worth less than in 2021, but 51 are richer, including 7 newcomers and 7 women returning to the ranks after previously dropping out. A newcomer to the list is fashion entrepreneur Paige Mycoskie, whose Aviator Nation brand took off during the pandemic as TikTok teens embraced the Venice Beach vibe by grabbing her beloved $160 smiley face sweatpants and his $190 retro rainbow stripe hoodies. Every Aviator Nation garment is designed by Mycoskie and handcrafted in a California factory. Sales have grown from $70 million in 2020 to $110 million in 2021, and the brand expects that number to at least double by 2023.

Also new to the list is Lucy Guo, an artificial intelligence expert and co-founder of Scale AI, which she created in 2016 with Alexandr Wang. Guo got his start with a nearly 6% stake in Scale AI, which was valued by private investors at $7.3 billion in 2021. Guo and Wang were on the Forbes 30 Under 30 list in 2018, the same year that Guo left the artificial intelligence company. She co-founded startup venture capital firm Backend Capital in 2019 and in April this year launched Moment, which she describes as a “web3 platform for creators”.

Another newcomer to the list is Emma Grede, the first black woman to serve as an investor on ABC. shark tank. She’s CEO of Good American, the inclusive fashion brand she launched with Khloe Kardashian in 2016. She’s founding partner and chief product officer of Kim Kardashian’s shapewear brand Skims, of which Grede’s husband is CEO. Grede also founded marketing agency ITB Worldwide in 2008.

To see the full list, click here, and to meet the newcomers, click here.


Spotlight on History

How two Africans overcame their prejudices to create a startup worth billions

Two young Ugandans and Ghanaians in their twenties thought there was a fortune to be made by bringing transnational financial services to Africa’s 1.2 billion people. With 5 million users, San Francisco-based Chipper Cash is just getting started: the company has so far raised $300 million from a list of blue-chip VCs, most recently in November at a valuation of $2.2 billion.

Key quote: “I believe deeply in the role of entrepreneurship and capitalism in improving the lives of people who live in developing countries.”—Ham Serunjogi, Co-Founder and CEO of Chipper Cash


In other news, Forbes released its seventh annual Fintech 50 list, which includes 25 newcomers. Crypto companies and startups trying to make banking services cheaper and more accessible for small businesses performed particularly strongly. Learn about the pioneers who make up this year’s most innovative startups in personal finance, investing, payments and crypto.

Latina superstar Jennifer Lopez recently announced a new partnership with nonprofit Grameen America, which provides loans, financial literacy training and credit building to low-income women. The actress will help mentor the organization’s network of more than 150,000 women-led small businesses in Latin American communities. It will also help Grameen pursue its goal of providing $14 billion in loan capital to some 600,000 Latino entrepreneurs by 2030.

A thriving ecosystem has emerged for startups during the pandemic, with some 380 out of 100,000 American adults becoming new entrepreneurs each month in 2020 alone, according to the US Chamber of Commerce. If you’re looking to grow your business, consider conducting a skills audit of your employees to target the skills you lack. To attract the best talent, create a recruitment section, promote diversity and offer telecommuting. Here are six good hiring practices.

Having trouble setting the right price for your products? Forbes Contributor Rhett Buttle offers five approaches, such as premium pricing and bundles, to help small business owners maximize profits. Psychological pricing – like placing cheaper or edible products inside scope of the checkout line has also been proven to boost sales.

A new venture capital firm called The General Partnership has raised $240 million for a fund that the company’s founders say will be used to support startups over longer-term periods. The young company brings services to its clients that many VCs wouldn’t offer until they grow up, taking a new approach that the founders say works, but with limitations.

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Bank/non-bank partnerships could come under CFPB scrutiny https://4wallsandaview.com/bank-non-bank-partnerships-could-come-under-cfpb-scrutiny/ Mon, 20 Jun 2022 15:53:02 +0000 https://4wallsandaview.com/bank-non-bank-partnerships-could-come-under-cfpb-scrutiny/ Delivery the opening speech Last week at the Consumer Federation of America’s 2022 Consumer Assembly, CFPB Deputy Director Zixta Martinez said the CFPB is “looking closely” at rent-a-bank programs. Assistant manager Martinez said that “[s]some lenders attempt to use [relationships with banks] to evade state interest rate caps and licensing laws by pretending that the […]]]>

Delivery the opening speech Last week at the Consumer Federation of America’s 2022 Consumer Assembly, CFPB Deputy Director Zixta Martinez said the CFPB is “looking closely” at rent-a-bank programs.

Assistant manager Martinez said that “[s]some lenders attempt to use [relationships with banks] to evade state interest rate caps and licensing laws by pretending that the bank, rather than the non-bank, is the lender. She said “lenders employing bank leasing programs have unusually high default rates, raising questions about whether their products fail borrowers.” She said the CFPB’s consumer complaints database “reveals a range of other significant consumer protection issues with certain loans associated with banking partnerships.”

To date, the CFPB’s enforcement action has only raised “renting a charter” issues in the context of tribal lending, notably in its enforcement action against CashCall. The CFPB lawsuit broke ground by alleging UDAAP violations based on CashCall’s efforts to collect loans allegedly void in whole or in part under state law. The CFPB complaint alleged that the loans in question, which were made by a tribal-affiliated entity, were void in whole or in part under state law because, based on the substance of the transactions , CashCall was the “de facto” or “true” lender and as such charged excessive interest and/or failed to obtain the required license.

The district court agreed with the CFPB that since CashCall was the “true lender” on the loans, the tribe affiliated with the loans did not have a sufficient relationship with the loans for the court to enforce the tribal choice provision. of the law in loan agreements. and there was no other reasonable basis for the choice of tribal laws. As a result, the district court found that CashCall engaged in a deceptive practice within the meaning of the CFPA when servicing and collecting the loans by creating the false impression that the loans were enforceable and borrowers were obligated to repay. loans in accordance with the terms of their loan agreements.

On appeal, the Ninth Circuit ruled that the district court was correct in refusing both to give effect to the choice of law provision and to apply the law of the borrowers’ home states, thereby resulting in the invalidity of loans. He characterized the role of the tribal entity in the transactions as “economically non-existent” and having “no purpose other than to create the appearance that the transactions had a connection to the tribe”. According to the Ninth Circuit, “the only reason the parties chose to [tribal] right [in the loan agreements] was to pursue CashCall’s plan to avoid state usury and licensing laws.

It should be noted, however, that the Ninth Circuit expressly rejected the use of a “genuine lender” theory as the basis for its decision. In response to CashCall’s objection to the district court’s finding that it was the “true lender” of the loans, the Ninth Circuit said that “[t]To the extent that CashCall invokes cases involving banks, we note that banks present different considerations because federal law prevents certain state restrictions on the interest rates charged by banks. Commenting that “[w]We do not consider how the result here might differ if [the tribal entity] had been a bank”, the Ninth Circuit said that “we need not employ the concept of ‘genuine lender’, much less establish a general test for identifying a ‘genuine lender’. “In his view, for the purposes of the choice of law issue, it was sufficient to consider the “economic reality” of loans which “reveal[ed] that the tribe had no substantial connection to the transactions.

More importantly, the Ninth Circuit rejected CashCall’s argument that a finding of deceptive practice under the CFPA could not be based on deception about state law. He found no support for the CFPA’s argument and noted that while the CFPA prohibits the establishment of a national attrition rate, the CFPB had not done so in Call for funds because each state’s usury and licensing laws still applied.

Ms. Martinez’s comments raise the possibility that the CFPB is now trying to use the UDAAP outside the tribal context to challenge non-banks involved in banking partnerships alleging violations of state usury and laws on licensing based on the theory that the partnership is a “rent-banking scheme. However, since many of the banks involved in such partnerships are smaller banks over which the CFPB has no authority supervisory or enforcement (i.e. banks with $10 billion or less in assets), the CFPB should manage potential concerns that the FDIC, the primary federal banking regulator, may have if the CFPB had to challenge such partnerships.

Non-bank/bank partnerships are currently under siege in several directions. Four Democratic members of the California state legislature recently sent a letter to the FDIC urging the agency to take action against FDIC-supervised banks that partner with non-bank lenders to offer installment loans. at high cost. On June 1, 2022, a class action lawsuit was filed against fintech lender Opportunity Financial, LLC (OppFi) in a federal district court in Texas in which the named plaintiff alleges that OppFi engaged in a “rent- a-bank” with a state-chartered bank to provide loans at rates higher than allowed by Texas law. OppFi is also engaged in litigation in California state court where the California Department of Financial Protection and Innovation is trying to apply California usury law to loans made under the partnership of OppFi with a state-chartered bank alleging that OppFi is the “true lender” on the loans.

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Small Payday Loans Online No Credit Check https://4wallsandaview.com/small-payday-loans-online-no-credit-check/ Sat, 18 Jun 2022 17:29:25 +0000 https://4wallsandaview.com/small-payday-loans-online-no-credit-check/ Small payday loans online without a credit check Get 100% cash advance online even with bad credit. The best service for fast loans! Loans A credit check can sometimes be applied to some payday loans as well. A credit check is generally not required for many payday loans, but may be requested if the loan […]]]>

Small payday loans online without a credit check

Get 100% cash advance online even with bad credit. The best service for fast loans!

Loans

A credit check can sometimes be applied to some payday loans as well. A credit check is generally not required for many payday loans, but may be requested if the loan is over $10,000. Some lenders require applicants to have a driving record. However, others do not. Your credit score will almost certainly be higher anyway, and your current credit score may not be worth the cost of the loan. Some payday lenders require a social security number or other biometric information for their borrowers. Despite the credit check, you can take small payday loans online without credit check and do it so easily today. You can do it faster and more cost effectively.

Other providers have no minimum deposit or other payment requirements. Once you’ve approved, you’ll receive a confirmation screen and a check in the mail. If your bank hasn’t approved any of your credit cards or you’re a victim of identity theft, you can always contact the lender and ask them to review the information. If the seller hasn’t sent you funds for the debt amount by the time you get to the bank, it’s common for them to simply refund the deposit and return nothing to you.

You will not be charged any fees for refunding the money. Keep in mind that when someone is in a temporary financial crisis, they have no way to recover a cash advance. You won’t be penalized by the lender if you don’t get the promised $300 within seven to ten days of approval. This delay in getting your money is an unfortunate thing for many. If you are able to receive money that you need urgently, use cash advances available for immediate use. These loans offer an inexpensive way to get your money now without having to wait for a credit check. To put it bluntly, it is small online payday loans no credit check and you can take it today. This type of loan is easier to obtain than a bank loan with a lot of paperwork and time.

Why are these types of loans so popular?

Lenders pay a lot of attention to ensuring that the borrower will be able to pay the repayment. With instant loans, you can pay off your payday money in as little as a few minutes. Online Payday Loans, Banks, and Savings Accounts Online loans are available from a variety of credit unions, small and large businesses, and banks. Online loans generally make it easier to get cash advances approved, but there are a few downsides. They can be expensive if you have a large amount, you need to pay early, they can have high interest rates, and they require more frequent paperwork and security such as ID or a guarantor. If you are considering getting a loan, you can always get a small payday loan online without a credit check and it will always benefit you.

Online Payday Loans, Banks, and Savings Accounts Online loans are available from a variety of credit unions, small and large businesses, and banks. Online loans generally make it easier to get cash advances approved, but there are a few downsides. They can be expensive if you have a large amount, you need to pay early, they can have high interest rates, and they require more frequent paperwork and security such as ID or a guarantor.

But online payday loans offer the opportunity to earn more money as an employer with these online loans. You don’t need to have a perfect work history. Some companies allow employees to pay their payroll taxes online with a credit statement and the government will take care of receiving their pay online. If you find yourself in an emergency situation that requires cash, you may want to consider using a cash advance to get cash quickly if you are $500 short or need to get out. quickly from a bad situation.

Monthly fees may be waived for some borrowers, but the loan is generally expensive. The credit scores that companies use to assess the risk of using these types of loans generally do not have the same precision that is used when reviewing a credit score.

Types of loans

The other way to make money fast is through payday loans and cash advances. In this situation, you have a much more limited time to pay off the debt or withdraw the funds as soon as possible. The two most common types of payday loans you come across are cash advances and withdrawals. Cash Advance Payday Cash Advance is a quick way to get cash.

This type of loan is often used to collect charges from your credit card account or to pay a loan from an ATM. Usually, cash advances and cash advances are not used for personal purposes, but for the purpose of withdrawing your money quickly. This type of payday loan gives you up to 10% of the loan principal amount at cash advance rates. Many cash advance lenders charge a higher interest rate than you can receive on your credit card. However, the interest rate is usually very low and often less than 5%. Also, you don’t have to worry about checking your credit history, that’s not the case here, where you can get payday loans no denial direct lenders only and this best way to get quick cash already today.

You won’t have a full credit history before getting a loan. However, instant loans are designed to make it easy for you to pay off debt quickly. The best rate can be made possible with a cash advance loan. Other instant loans Instant loans can be used to make payments on credit cards, student loans or mortgages. You will have an instant interest rate to repay the loan.

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SellersFunding launches two financing solutions for small businesses https://4wallsandaview.com/sellersfunding-launches-two-financing-solutions-for-small-businesses/ Fri, 17 Jun 2022 07:13:34 +0000 https://4wallsandaview.com/sellersfunding-launches-two-financing-solutions-for-small-businesses/ SellersFunding launches two financing solutions for small businesses By Edlyn Cardoza Today Asset-based loan offer Credit subscription E-commerce SellersFunding, a leader FinTech provider for e-commerce sellers, announces the addition of two new products to its robust working capital product line, invoice factoring and purchase order (PO) financing. Invoice factoring and purchase order financing help SellersFunding […]]]>

SellersFunding launches two financing solutions for small businesses

By Edlyn Cardoza

Today

  • Asset-based loan offer
  • Credit subscription
  • E-commerce

SellersFunding, a leader FinTech provider for e-commerce sellers, announces the addition of two new products to its robust working capital product line, invoice factoring and purchase order (PO) financing.

Invoice factoring and purchase order financing help SellersFunding clients grow their wholesale footprint. Product flexibility will allow SellersFunding to expand its offering to businesses outside of the e-commerce space.

“As SellersFunding is already a trusted source for long-term non-dilutive financing, the introduction of products such as factoring and purchase order financing was the natural evolution to further help customers meet their their cash needs,” says Abhi Chakraborty, Vice President of Credit at SellersFunding. “Because credit underwriting and customer onboarding practices are similar across our product offering, we plan to quickly expand our asset-based lending offering to businesses that have demonstrated robust sales. and a history with their account debtors.”

Through the beta deployment of these new products, SellersFunding initiated deals of up to $25 million with a global mineral water company, a US-based sports retailer and a US-based equipment manufacturer. United whose account debtors include well-known outlet stores such as Costco and Sam’s Club, grocery chains such as Publix, sporting goods retailers such as Academy Sports and Outdoors, and beverage companies such as Anheuser Busch in the United States and abroad.

The Company plans to provide these solutions to domestic and international small businesses through relationships with new and existing partners, brokers and its existing portfolio of customers.

SellersFunding is a global fintech company focused on helping e-commerce sellers grow. The company’s digital platform offers financial solutions that streamline global trade in markets, including working capital, cross-border cash management and business valuation.

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New $5.7 Million Loan Program to Help Atlanta Small Businesses Build Wealth and Secure Equity https://4wallsandaview.com/new-5-7-million-loan-program-to-help-atlanta-small-businesses-build-wealth-and-secure-equity/ Tue, 14 Jun 2022 20:43:01 +0000 https://4wallsandaview.com/new-5-7-million-loan-program-to-help-atlanta-small-businesses-build-wealth-and-secure-equity/ Mayor Andre Dickens announced a new $5.7 million Atlanta stimulus loan program on June 14 to help small businesses. (Invest Atlanta) A new $5.7 million low-interest loan program aims to help Atlanta small businesses build wealth and avoid displacement in a turbulent economic market. The program is part of a city initiative to help especially […]]]>
Mayor Andre Dickens announced a new $5.7 million Atlanta stimulus loan program on June 14 to help small businesses. (Invest Atlanta)

A new $5.7 million low-interest loan program aims to help Atlanta small businesses build wealth and avoid displacement in a turbulent economic market. The program is part of a city initiative to help especially racially and ethnically diverse business owners who have have been disproportionately affected by the COVID-19 pandemic.

Name it Atlanta Recovery Loan Program (ARLP)it is the first of four initiatives that United Way of Greater Atlanta in conjunction with Invest Atlanta, the city’s economic development agency, will roll out as part of the “Atlanta Open for Business Fund” supported by a $20 million donation from Wells Fargo.

Fed Small Business, which includes small business research and analysis by the 12 reserve banks of the Federal Reserve System, reported last year that 93% of Asian-owned businesses were the most likely to report an expected drop in sales in 2020 due to the pandemic. Declines in sales were also reported by 86% and 85% of black- and Hispanic-owned businesses, respectively, while 79% of white-owned businesses reported declining sales, according to the report.

“Without adequate funding to survive disruptions like the pandemic, most small businesses struggle to sustain their businesses, let alone secure assets to grow them,” Mayor Andre Dickens said in a press release. . “This program will be another invaluable asset in helping Atlanta residents build a resilient foundation for their businesses.”

The maximum ARLP direct loan amount is $25,000 to $100,000 at an interest rate of no more than 3% for up to seven years. Eligible businesses include existing businesses with fewer than 500 employees, partnerships or sole proprietorships, and nonprofit organizations focused on diverse communities that lead or support diverse communities. Businesses in all commercial areas of the City of Atlanta, including those operating on City of Atlanta-owned properties, are eligible.

“This resource is a strategy to help small businesses purchase property and business assets for growth so they can build generational wealth and increase economic mobility that improves their communities,” said Dr. Eloisa Klementich, President. and CEO of Invest Atlanta, in the press release. .

Milton Little, President and CEO of United Way of Greater Atlanta added, “The Atlanta Recovery Loan Program will help advance a more equitable recovery from the pandemic by breaking down the race and ZIP code barriers that can prevent many entrepreneurs from converting increased income into wealth. .”

Other Atlanta Open for Business initiatives to be announced later this year are:

• Asset Building Assistance – working with nonprofit organizations, including in South and West Atlanta, this effort will recruit experts to develop asset building strategies for approximately 200 small businesses, such as the transition from renting or leasing commercial space to owning it.

• Exterior Improvement Grants – grants of up to $50,000 for exterior improvements for small businesses that have the ability to contribute 20% of their project.

• Commercial Property Growth – capital to help small business owners with rising rental costs, including down payment assistance grants of up to $200,000 for the purchase of real estate commercial.

To learn more about the Atlanta Recovery Loan Program and to apply, businesses should visit www.investatlanta.com/atlantarecovery.

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The collaboration provides guidance to Hispanic small businesses and startups https://4wallsandaview.com/the-collaboration-provides-guidance-to-hispanic-small-businesses-and-startups/ Mon, 13 Jun 2022 05:09:50 +0000 https://4wallsandaview.com/the-collaboration-provides-guidance-to-hispanic-small-businesses-and-startups/ Photo submitted Hispanic Small Business Panel To support Latino-owned businesses in Northwest Arkansas and the River Valley, a Hispanic Small Business Panel was held May 26 at the University of Arkansas Economic Development Center of Fort Smith, located in the Bakery District in Fort Smith. The panel, presented in Spanish, was moderated […]]]>



Photo submitted

Hispanic Small Business Panel

To support Latino-owned businesses in Northwest Arkansas and the River Valley, a Hispanic Small Business Panel was held May 26 at the University of Arkansas Economic Development Center of Fort Smith, located in the Bakery District in Fort Smith.

The panel, presented in Spanish, was moderated by Carolina Mejia, bilingual business consultant with the Arkansas Small Business and Technology Development Center at the University of Arkansas, Fayetteville, sponsored by Arvest Bank and led by Bill Sabo, director of the center of development.

Panel participants included Laurencia Valdez of Arvest Bank, Tammy Pacheco of Alfa & Omega Multiservices and Edwin Nieto of PG Roofing & Construction Inc. The discussion focused on developing skills in management, financing, start-up and pre-planning, cash flow management, marketing, social media, legal issues, tax planning and women-owned businesses.

“Starting a business is hard enough, but when a language barrier adds complexity, it can cause someone to give up on their dream of owning their own business,” Sabo said.

Panelists offered advice to event attendees on ways to save money and boost credit to be more attractive to potential lenders, track income and expenses, hire specialists to help them through all the unfamiliar accounting and bookkeeping processes, learn to delegate and focus on what you do best.

According to the Arkansas Small Business and Technology Development Center, there are more than 4.65 million Latino-owned businesses in America, generating an estimated $700 billion in revenue annually, which has a significant impact on the American economy.

For more information or a consultation, contact Carolina Mejia, U of A Bilingual Consultant for Arkansas Small Business and Technology Development Center, at cm117@uark.edu or call 479-575 -5148.

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Mortgage rates today, June 11 and rate predictions for next week https://4wallsandaview.com/mortgage-rates-today-june-11-and-rate-predictions-for-next-week/ Sat, 11 Jun 2022 14:14:36 +0000 https://4wallsandaview.com/mortgage-rates-today-june-11-and-rate-predictions-for-next-week/ Today’s Mortgage and Refinance Rates Yesterday, average mortgage rates climbed exceptionally quickly. And what had been a modestly bad week for these rates turned into a really terrible week. Read on for the grisly details. Mortgage rates often fall after an unusually sharp change. And I shouldn’t be surprised if they pull back a bit […]]]>

Today’s Mortgage and Refinance Rates

Yesterday, average mortgage rates climbed exceptionally quickly. And what had been a modestly bad week for these rates turned into a really terrible week. Read on for the grisly details.

Mortgage rates often fall after an unusually sharp change. And I shouldn’t be surprised if they pull back a bit next Monday and Tuesday, but don’t expect them to recoup all or even most of yesterday’s losses. From next Wednesday, it is not known where they will move. Because crucial Federal Reserve announcements (more on those below) are due that day.

Current mortgage and refinance rates

Program Mortgage rate APR* To change
30-year fixed conventional 5.762% 5.785% +0.11%
15-year fixed conventional 4.845% 4.875% +0.18%
20-year fixed conventional 5.775% 5.812% +0.21%
10-year fixed conventional 4.781% 4.866% +0.11%
30-year fixed FHA 5.554% 6.296% +0.23%
15-year fixed FHA 5.07% 5.477% +0.06%
30-year fixed PV 5.019% 5.235% -0.05%
15-year fixed VA 5.622% 5.975% Unchanged
Pricing is provided by our partner network and may not reflect the market. Your rate may be different. Click here for a personalized quote. See our rate assumptions here.


Should you lock in a mortgage rate today?

Don’t lock in on a day when mortgage rates look set to drop. My recommendations (below) are intended to provide longer-term suggestions on the general direction of these rates. Thus, they do not change daily to reflect fleeting sentiments in volatile markets.

Last week I wrote here: “Markets continue to show unusual volatility.” Boy, was it true. The magnitude of yesterday’s mortgage rate hike was not unprecedented. But it was extremely rare.

We could (without guarantee) see some interesting falls early next week. But on Wednesday afternoon, the Federal Reserve will release a report and hold a press conference. And mortgage rates could move in response to that. Whether they go up or down will depend on what the Fed says. But I guess large, sustained drops are unlikely.

And so, my personal rate lock recommendations remain:

  • TO BLOCK if closing seven days
  • TO BLOCK if closing 15 days
  • TO BLOCK if closing 30 days
  • TO BLOCK if closing 45 days
  • TO BLOCK if closing 60 days

However, with so much uncertainty right now, your instincts could easily turn out to be as good as mine, or even better. So let your instincts and personal risk tolerance guide you.

What’s Moving Current Mortgage Rates

According to data from Mortgage News Daily (MND), the average rate for a 30-year fixed-rate mortgage rose 30 basis points yesterday (one basis point equals one-hundredth of 1%). In other words, they went from 5.55% to 5.85%. This is truly an extraordinary increase in just one day.

This rise was driven by a worse than expected consumer price index released yesterday morning. In early May, investors had reason to hope that inflation was stabilizing. That’s why mortgage rates fell for about three weeks that month.

But yesterday’s index showed inflation continuing to climb – and at its fastest pace in 40 years. Mortgage rates ended the day at their highest level since November 2008, according to the MND.

Yesterday, investors had in mind the Fed’s reaction to the new inflation data. He has a two-day meeting starting next Tuesday. And it will wrap up the next day with a statement and screenings (2 p.m. ET) and a press conference (2:30 p.m. ET). These events are always followed closely by the markets. But I doubt many have been watched more carefully than this one will be.

What could the Fed do?

What might the bad news look like? Well, the Fed could announce that it will raise rates more often and by larger amounts. We are already expecting a 0.5% rise next week and another after its July meeting. Could he enter such increases for the three other meetings it will hold this year? Could that even make one or more of those 0.75% increases? We will find out next Wednesday.

We’ll also know on that day if yesterday’s inflation report affected the Fed’s thinking about its holdings of mortgage-backed securities (MBS) – the type of bond that largely determines rates. mortgages. Last Wednesday, his holdings were worth $2.7 trillion. And that gives it tremendous power over those rates.

The Fed has already announced that it will reduce its holdings of MBS, which should put upward pressure on mortgage rates. But if it accelerates those plans – and perhaps announces that it will start selling MBS sooner than expected – that could push those rates even higher.

What this means for mortgage rates

The markets are already expecting a tightening of the Fed’s line next Wednesday. And yesterday was their price in this expectation. If the real line is softer than expected, mortgage rates could fall that day. If they are roughly in line with these expectations, these rates could hardly move.

However, if the Fed gets unexpectedly aggressive, it could be a bad day – and week and month – for these rates. We are already dangerously close to 6% mortgage rates this morning.

Economic reports next week

Next week will likely be dominated by this Wednesday’s announcements from the Federal Open Market Committee (FOMC), which we discussed in detail in the last section. And that risks overshadowing the important economic report of the week, retail sales in May, which is due out just hours before Fed events.

Naturally, anything related to inflation will attract investors’ attention. That includes the New York Fed’s inflation projections for the next one and three years, due Monday. And Tuesday’s producer price index.

The potentially most important reports below are highlighted in bold. The others are unlikely to move the markets much unless they contain surprisingly good or bad data.

  • Monday – New York Fed Inflation Expectations in the next one and three years
  • Tuesday – Producer price index for the final request
  • Wednesday – FOMC statement, projections and press conference. More May retail sales
  • Thursday — May starts. Plus, new weekly unemployment insurance claims through June 11
  • Friday — May Index of industrial production, including capacity utilization

Everything revolves around Wednesday.

Mortgage interest rate forecast for next week

I wouldn’t be at all surprised if mortgage rates were to drop next Monday and Tuesday. Such declines are common – although far from inevitable – after strong increases like yesterday’s. Don’t expect these rates to be more than a fraction (if any) of their Friday losses.

Next Wednesday and after is another story. As explained in detail above, everything will depend on what the Fed says on that day.

Mortgage and refinance rates generally move in tandem. And the removal of unfavorable market refinancing charges last year has largely eliminated the gap that had grown between the two.

Meanwhile, another recent regulatory change has likely made mortgages for investment properties and vacation homes more accessible and less expensive.

How your mortgage interest rate is determined

Mortgage and refinance rates are typically determined by prices in a secondary market (similar to stock or bond markets) where mortgage-backed securities are traded.

And it depends heavily on the economy. Thus, mortgage rates tend to be high when things are going well and low when the economy is struggling.

Your part

But you play an important role in determining your own mortgage rate in five ways. And you can affect it significantly by:

  1. Shop around for your best mortgage rate – They vary widely from lender to lender
  2. Boost your credit score – Even a small bump can make a big difference to your rate and payments
  3. Save the biggest down payment possible – Lenders like you to have real skin in this game
  4. Keep your other borrowings small — The lower your other monthly commitments, the higher the mortgage you can afford
  5. Choose your mortgage carefully – Are you better off with a conventional, conforming, FHA, VA, USDA, jumbo or other loan?

Time spent getting these ducks in a row can earn you lower rates.

Remember it’s not just a mortgage rate

Be sure to factor in all of your homeownership costs when calculating how much mortgage you can afford. So focus on your “PITI”. It’s your Pprincipal (repays the amount you borrowed), IInterest (the price of the loan), (the property) Jaxes, and (owners) Iinsurance. Our mortgage loan calculator can help you.

Depending on your type of mortgage and the amount of your down payment, you may also need to pay for mortgage insurance. And that can easily hit three figures every month.

But there are other potential costs. So you will have to pay homeowners association dues if you choose to live somewhere with an HOA. And, wherever you live, you should expect repair and maintenance costs. There is no owner to call when things go wrong!

Finally, you will have a hard time forgetting closing costs. You can see those reflected in the annual percentage rate (APR) that lenders will quote you. Because it spreads them effectively over the term of your loan, making it higher than your normal mortgage rate.

But you may be able to get help with those closing costs. and your down payment, especially if you are a first-time buyer. Lily:

Down payment assistance programs in every state for 2021

Mortgage Rate Methodology

Mortgage reports receive daily rates based on selected criteria from multiple lending partners. We arrive at an average rate and APR for each loan type to display in our chart. Because we average a range of prices, it gives you a better idea of ​​what you might find in the market. In addition, we average rates for the same types of loans. For example, fixed FHA with fixed FHA. The result is a good overview of the daily rates and their development over time.

The information contained on The Mortgage Reports website is provided for informational purposes only and does not constitute advertising for products offered by Full Beaker. The views and opinions expressed herein are those of the author and do not reflect the policy or position of Full Beaker, its officers, parent company or affiliates.

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Man convicted of $4.1 million COVID-19 relief fraud | Takeover bid https://4wallsandaview.com/man-convicted-of-4-1-million-covid-19-relief-fraud-takeover-bid/ Thu, 09 Jun 2022 21:38:08 +0000 https://4wallsandaview.com/man-convicted-of-4-1-million-covid-19-relief-fraud-takeover-bid/ A federal jury in Detroit today convicted a Michigan man of a wire fraud and money laundering scheme to obtain more than $4.1 million in Paycheck Protection Program (PPP) loans ) and Economic Disaster Loans (EIDLs) guaranteed by the Small Business Administration (SBA) under the CARES (Coronavirus Aid, Relief, and Economic Security) Act. According to […]]]>

A federal jury in Detroit today convicted a Michigan man of a wire fraud and money laundering scheme to obtain more than $4.1 million in Paycheck Protection Program (PPP) loans ) and Economic Disaster Loans (EIDLs) guaranteed by the Small Business Administration (SBA) under the CARES (Coronavirus Aid, Relief, and Economic Security) Act.

According to court documents and evidence presented at trial, Johnny Ho, 41, of Novi, engaged in a conspiracy to submit falsified PPP and EIDL loan applications in order to obtain COVID-19 relief funds that he he had no right to receive. Evidence showed that Ho, owner of Northville-based Diva Nails & Spa III LLC, submitted inflated payroll information and otherwise falsified loan application information. Ho personally submitted two fraudulent PPP and EIDL loan applications seeking nearly $350,000 in funds to help small businesses and their employees affected by the COVID-19 pandemic. In total, Ho and his co-conspirators submitted 29 different fraudulent PPP and EIDL loan applications on behalf of 16 companies totaling more than $4.1 million.

Ho was found guilty of one count of conspiracy to commit wire fraud, two counts of wire fraud and two counts of money laundering. He is due to be sentenced on September 27 and faces up to 20 years in prison for each of the wire fraud charges and up to 10 years in prison for money laundering. A federal district court judge will determine any sentence after considering US sentencing guidelines and other statutory factors.

Assistant Attorney General Kenneth A. Polite, Jr. of the Justice Department’s Criminal Division; US Attorney Dawn Ison for the Eastern District of Michigan; Special Agent in Charge James A. Tarasca of the FBI Field Office in Detroit; and Special Agent in Charge Sharon Johnson of the SBA-Office of Inspector General (SBA-OIG) made the announcement.

The case was investigated by the FBI and the SBA-OIG.

Attorney Patrick J. Suter of the Criminal Division’s Fraud Section and Assistant U.S. Attorney Ryan A. Particka for the Eastern District of Michigan are prosecuting the case.

On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to mobilize Department of Justice resources in partnership with government agencies to scale up enforcement and prevention efforts. pandemic-related fraud. The task force strengthens efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies administering relief programs to prevent fraud by augmenting and integrating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and by sharing and leveraging information and knowledge gained from previous enforcement efforts. For more information about the department’s response to the pandemic, please visit https://www.justice.gov/coronavirus.

Anyone with information about alleged attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) hotline via the NCDF’s online complaint form at address https://www.justice.gov/disaster-fraud /formulaire-de-plainte-en cas-de-catastrophe-ncdf.

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