Online loans – Blog Campcee Fri, 11 Jun 2021 16:50:11 +0000 en-US hourly 1 Online loans – Blog Campcee 32 32 FSC plans to let businesses apply for loans online Fri, 11 Jun 2021 16:00:00 +0000

  • By Kao Shih-ching / Journalist

The Financial Supervisory Commission (FSC) is considering allowing more types of corporate clients to apply for loans online to help them overcome the COVID-19 pandemic without creating a loophole for money laundering, a- she said Thursday.

The commission currently only allows sole proprietorships – businesses owned by one person – to apply for loans entirely online because their ownership structure is straightforward and it is easier for lenders to complete knowledge reviews. client (KYC) on businesses and their owners.

As banks have adjusted branch hours since a nationwide Level 3 COVID-19 alert began last month and more small businesses are required to apply for relief loans amid growing infections, the FSC is considering relaxing its regulations, bank bureau chief secretary Phil said. Tong (童 政 彰) said on a video conference.

“The commission could allow businesses owned by two or three people to apply for loans online, as it shouldn’t be too difficult for banks to perform KYC on three people,” Tong said.

Banks should review the credit and financial profiles of individual shareholders and exercise due diligence on companies before approving a loan application, Tong said.

The FSC has asked the Bankers Association to put in place measures to facilitate such a practice, while the institution must also change disciplinary guidelines for its members, he said.

To prevent money laundering, the commission would not consider allowing other types of businesses, such as those owned by more than three shareholders or owned by another company, to apply for loans online, as the KYC conduct and due diligence would be more difficult. , he said.

The FSC has approved a Bankers Association proposal for banks to offer loans to existing corporate clients who have applied for loans online, as lenders already have their profile and the risks of money laundering or default. would be weaker, Tong said.

Meanwhile, more than 403,000 businesses and individuals requested NT $ 3.49 trillion ($ 126.31 billion) in relief loans on Wednesday last week, according to FSC data yesterday.

Comments will be moderated. Keep comments relevant to the article. Comments containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. The final decision will be at the discretion of the Taipei Times.

Source link

]]> 0
10 great ideas to improve life in small and medium cities Thu, 10 Jun 2021 22:23:00 +0000

The Future of Everything covers the innovation and technology that is transforming the way we live, work and play, with monthly issues on health, money, artificial intelligence and more. This month it’s Cities & Real Estate, online from June 4 and in the newspaper on June 11.

For those who want to know what the United States might look like 20 years from now, a look at a handful of small and medium-sized cities offers clues. As mayors seek to fill gaps in their budgets, help people who have lost their jobs, or fix crumbling infrastructure, they turn to ideas that would have been unthinkable decades ago. They’re testing ambitious social programs, including universal income and repairs, adding sensors to everything from sewers to streetlights, and testing autonomous shuttles.

American cities have always been testing labs for new ideas, but the Covid-19 pandemic has accelerated the pace of innovation. The pandemic has created a ‘sense of urgency’ to address issues such as economic inequality, lack of child care and unequal internet access, says Debbie Cox Bultan, CEO of NewDEAL, a network of progressive elected officials .

Bold and controversial ideas are often easier to test in cities than at the federal level, where legislative obstruction and partisan deadlock make it difficult to pass laws. Their supporters hope that if they work they will eventually spread across the country. “These local initiatives are nimble,” says Robin Street Simmons, a former Evanston, Ill., City councilor, who led the campaign for a repair program in the city. “We are able to respond quickly and hear precisely from our neighbors whom we serve. “

Here’s a look at 10 great ideas being tested in small and mid-sized cities across the United States.

Source link

]]> 0
Linked Finance secures an additional 5 million euros to lend to SMEs Thu, 10 Jun 2021 05:05:28 +0000

The non-bank lender, Linked Finance, has secured an additional € 5 million in funds to lend to businesses under the government’s Covid-19 credit guarantee program.

The peer-to-peer lending platform claims to have already funded more than € 10 million in loans to small and medium-sized business (SME) clients since January, when it became the first non-bank lender to offer loans through the government program.

The funds are administered through the Strategic Banking Corporation of Ireland, which makes low cost credit available to Irish SMEs.

The € 2 billion credit guarantee program – the largest ever state-backed loan guarantee in Ireland – offers an 80% government guarantee to participating lenders to enable Irish businesses to access loans at low interest rate when responding to the impacts of Covid-19.

It has been announced in recent months that the CGS will remain open for applications until the end of the year.

“The award of a second tranche demonstrates the success of the alternative lenders participating in the program and shows the improvement in the range of options available to companies looking to access finance quickly and efficiently in a transparent online process,” Niall O’Grady, CEO of Linked Finance said.

Linked Finance also announced the launch of a new SME Recharge Loan that will provide pubs, restaurants, hosts and cafes with a loan of up to € 50,000 to help them reopen, restock and rehire as pandemic restrictions. are relaxed.

Hotels reopened from June 2 and bars and restaurants also reopened for outdoor service.

The loan term is 13 months, with no repayment in the first month.

Source link

]]> 0
Asia Capital Real Estate (ACRE) grants $ 51.5 million loan to mixed-use luxury community in Chicago’s West Loop submarket Wed, 09 Jun 2021 12:00:00 +0000

CHICAGO–(COMMERCIAL THREAD) –Asia Capital Real Estate (ACRE), a global private equity and real estate debt firm, today announced it has entered into a $ 51.5 million loan to support the refinancing and redevelopment of The Duncan, a multi-building luxury community in the neighborhood Chicago’s West Loop / Fulton Market.

Issued through ACRE’s “ACRE Credit” debt fund, the loan will help refinance the 260 unit property owned by Chicago developer, owner and institutional operator CEDARst. The 2.5-year loan term provided by ACRE includes two one-year extension options and has a loan-to-value ratio of 75.8%.

“Despite the many challenges the industry has faced over the past year due to COVID-19, The Duncan’s strong performance and location during the pandemic is testament to CEADARst’s ability to deliver high quality developments. and the resilience of the West / Fulton Loop. sub-market ‘, said Daniel Jacobs, head of creation of ACRE. “We are proud to grant this loan and look forward to a long and productive partnership in the years to come.

Located at 1515 West Monroe St., The Duncan consists of two multi-level buildings – one four-story and another six-story connected by the second floor. The Duncan preserves its historic charm, providing tenants with architectural features that aren’t too expensive to replicate in new construction, while also introducing modern amenities. The mixed-use community includes 8,350 square feet of retail, coworking space, a cocktail bar, and a fitness center. The large hall will be shared with the FROTH Café, the reception concept of CEDARst managed by The Heritage Group. Recreational facilities will include basketball and volleyball courts, an indoor running track, a wet / dry sauna, an indoor swimming pool and a gym with a boxing ring.

The buildings, originally constructed in the early 1900s, have recently been reallocated in two phases – 150 units were commissioned in July 2020 and the remaining 110 units were delivered in October 2020. The property also benefits from its location in the growing West Loop neighborhood, home to many Fortune 500 companies, including the headquarters of major corporations Google, McDonald’s and Mondelez. The West Loop / Fulton Market area is booming with retail, a thriving restaurant scene, and vibrant nightlife, making it one of the area’s most demanded neighborhoods. As a major foodie destination, West Loop / Fulton Market is home to several Michelin star restaurants and celebrity chef restaurants.

Through a series of equity and debt funds, ACRE manages more than $ 1.8 billion in assets in the form of private real estate investments and loans. The company specializes in value-added multi-family opportunities and invests in affordable housing workforce and assets in strategic growth markets. ACRE’s unique approach to managing its diverse portfolio of multi-family properties includes an intentional focus on creating added value for residents that extends beyond the four walls of their homes. By creating a sense of community among residents through social impact investments and sustainable green measures, ACRE effectively improves tenant retention and generates stable, cash-generating properties.

About Asia Capital Real Estate (ACRE)

Founded in 2011, Asia Capital Real Estate (ACRE) is a global real estate private equity firm that manages institutional investor and family office capital through a series of private equity and debt funds and currently manages over $ 1.8 billion in assets under management. Since its inception, ACRE’s acquisition, development and lending efforts have focused on 22,000 units across 78 properties in 33 cities. ACRE’s strategies focus on direct investments in real estate and credit and are focused on high growth markets in the United States, with additional properties currently under development in South East Asia and the United Kingdom . ACRE manages a global portfolio of multi-family housing with offices in Atlanta, New York and Singapore.


CEDARst applies a vertically integrated approach to the development of residential assets in the United States. CEDARst has been a pioneer in the development of multi-family micro-units in Chicago, identifying unmet demand for high-quality, affordable apartments. CEDARst markets its entire portfolio under a single brand: FLATS®. All APARTMENTS® The properties offer a cohesive resident experience, with carefully designed, hospitality-focused and community-focused spaces that set them apart from the competition.

Source link

]]> 0
Non-performing loans: agreement reached on EU rules for selling non-performing loans to third parties Tue, 08 Jun 2021 19:19:07 +0000

European Parliament negotiators agreed with the Council on common European standards regulating the transfer of bad debts from banks to secondary buyers while protecting the rights of borrowers.

Negotiators agreed on harmonized binding provisions for all member states. They have ensured that borrowers are not worse off following the transfer of their credit agreement and member states can maintain or introduce stricter rules to protect consumers.

NPL secondary markets

The measures agreed promote the development of professional secondary markets for credit contracts originally issued by banks and qualified as non-performing. Third parties (credit buyers) could buy such NPLs throughout the EU. Credit buyers (eg investment funds) do not create new credit, but buy existing non-performing loans at their own risk. They therefore do not need special authorization but will have to comply with the borrower protection rules.

Supervised debt collection

Credit managers are legal entities acting on behalf of credit buyers and managing rights and obligations under a non-performing credit agreement, such as the collection of payments or the renegotiation of contract terms. EP negotiators ensured that they should obtain authorization and be subject to control by the competent authorities of the Member States. Member States should also ensure that there is an up-to-date publicly available list or national register of all credit managers. In order to protect consumers, all credit buyers will be required to have a credit manager appointed by a host country for consumer portfolios. In addition, buyers of credit from third countries will also need to appoint a credit manager for SME portfolios in order to protect entrepreneurs.

Protect borrowers

The uniform level of protection for borrowers who cannot pay their debts, agreed upon during negotiations, requires credit buyers and credit managers to provide accurate information, respect and protect the personal information and privacy of borrowers, and refrain from any harassment, coercion or undue influence.

Prior to the first collection of debts, a borrower will also have the right to be informed in a clear and understandable manner on paper or other durable medium of any transfer of the rights of a creditor. The information should include a transfer date, identification, contact details and authorization of a new credit manager or credit service provider, as well as detailed information about the amounts owed by the borrower. In addition, the borrower should be informed of where he can submit complaints.

Esther de Lange (PPE, NL), the co-rapporteur, said: “It is a great relief that we can finally continue the work to solve the challenge of bad loans held by banks. Friday night’s deal can help us prevent the economic downturn during the corona crisis from turning into another banking crisis. This directive will create a European secondary market for problematic loans and at the same time ensure that the people who have taken out these loans are treated fairly.

MEPs assured that borrowers should not be worse off following the transfer of their credit agreement. To this end, the fees and penalties charged by the services, including transfer fees, cannot change and no additional fees can be imposed other than that related to this credit agreement. In addition, the contract and obligations between a credit manager to a credit buyer should not be altered by the outsourcing of credit service.

Irene Tinagli (S&D, IT), President and Co-Rapporteur of ECON, said: “With this directive, we make it clear that the development of a real, efficient and well-regulated European secondary market for NPLs must go hand in hand with all possible efforts on the part of creditors to restore credit performance and the highest possible level of protection for borrowers. This is even more important now that we are still suffering the consequences of the COVID-19 pandemic; we cannot risk the recovery being jeopardized by decisions that penalize households and businesses.

Finally, negotiators agreed to take into account a borrower’s individual situation such as a mortgage tied to a residential property and the ability to repay a loan while deciding on action. These steps may include partial refinancing of a credit agreement, changing the terms of the agreement, extending loan terms, currency conversions, and other means to facilitate repayment. Member States can apply the measures that work best for borrowers under national schemes, but should have an appropriate set of measures at national level.


Addressing any possible future build-up of non-performing loans (NPLs) is essential to strengthen the banking union and ensure competition in the banking sector, as well as to maintain financial stability and encourage banks to lend in order to create jobs. , stimulate growth and support the post-COVID-19 recovery in the EU.

NPLs are generally defined as loans that are either more than 90 days past due or are unlikely to be fully repaid.

Next steps

The Parliament, the Council and the Commission are currently working on the technical aspects of the text. Subsequently, the agreement must be approved by the Committee on Economic and Monetary Affairs and by Parliament as a whole.

Source link

]]> 0
Auto and student loans fuel US consumer loan surge in April Mon, 07 Jun 2021 23:26:28 +0000


Google to pay $ 270 million in antitrust settlement with French regulators

Google has agreed to pay around $ 270 million in fines and change some business practices in a deal announced Monday with French antitrust regulators who accused the company of abusing its dominance of the advertising market. online. The French competition authority said the deal was the first time an antitrust regulator has directly targeted Google’s online advertising infrastructure, a platform that many websites around the world rely on to sell advertisements. The fine is paltry compared to Google’s overall business – its parent company, Alphabet, earned $ 41 billion last year – but French authorities have hailed the concessions because they affect technology and practices at the core business activities. In the United States, Google is facing a similar antitrust review over its online advertising technology by a group of state attorneys general, as well as the UK antitrust regulator. French regulators have said Google has used its position as the world’s largest internet advertising company to harm news publishers and other internet ad sellers. Authorities said a service owned by the Silicon Valley giant and used by others to sell internet advertising was giving Google companies preferential treatment, thereby undermining competition. As part of the deal, French authorities said, Google agreed to end the practice of giving preferential treatment to its services and changing its advertising system so that it could work more easily with other services. Google has not admitted to wrongdoing, but said in a statement it will make changes to increase the transparency of its online advertising systems and make the technology more interoperable with other services. – NEW YORK TIMES


SEC says it’s watching for signs of meme stock manipulation

The United States Securities and Exchange Commission says it is scanning markets for signs of manipulation and other misconduct as AMC Entertainment Holdings Inc. and other memes stocks continue to soar . “SEC staff continue to monitor the market in light of the continued volatility of certain stocks to determine if there have been market disruptions, manipulative transactions or other improper behavior,” the agency said. in a statement emailed Monday. “In addition, we will act to protect retail investors if violations of federal securities laws are found.” AMC resumed its bullish path on Monday, ending two consecutive days of decline. The action – like GameStop Corp. before her – became the darling of retail traders. The boom in the movie theater chain comes despite questionable fundamentals, leading regulators to fear that investors could suffer substantial losses if the stock plunges. online message boards to trick other investors into joining the rally. BLOOMBERG NEWS


Scorching heat in key agricultural regions pushes up prices for canola and corn

Dry-weather cooking of key agricultural areas, from America’s breadbasket to the grain regions of Brazil, is fueling a new surge in crop prices, from corn to canola. Stifling heat in the Canadian prairies stretching to the northern plains and parts of the Midwest is raising new concerns for crops as global supplies are already well balanced. The heat propelled corn futures to their highest level since mid-May, extended the rally in canola oil to a record high and pushed soybean prices up the most in more than three weeks . The heat of the past week has further depleted soil moisture already low in some growing areas of North America, and this was made worse by equally high temperatures over the weekend, said Tobin Gorey, agricultural strategist at the Commonwealth Bank of Australia. Drought is also hampering some Russian grain regions, and worsening drought has withered Brazil’s maize crop. Good conditions are needed throughout the northern hemisphere’s growing season to replenish global stocks depleted by record Chinese demand and previous weather problems. Heightened concerns about crops precede a monthly US Department of Agriculture report on Thursday, which analysts said will show further reduction in global stocks of wheat and corn. BLOOMBERG NEWS


Trump allies acquire cable networks as part of TV campaign

A group of investors led by Hicks Equity Partners, a firm with ties to the Republican National Committee and the Trumps, are taking over cable channels in an attempt to create a family-owned television empire. The buyers, calling themselves GAC Media, announced Monday the acquisition of Great American Country from Discovery Inc. The network, which is available in about 40 million homes, has sold for about $ 90 million, according to one person. close to the file. GAC Media has also acquired Ride TV, a 24-hour channel dedicated to equestrian sports. The effort is supported by the private equity arm of the Hicks family business and will be led by cable television veteran Bill Abbott. Previously, Abbott was President and CEO of Crown Media, owner of Hallmark Channel. Thomas Hicks Jr. is co-chair of the Republican National Committee and friend of Donald Trump Jr. GAC Media should not change the programming of either channel to focus on political commentary, said the person, who has asked not to be identified because the case is private. For Discovery, the sale is part of an effort to focus on the company’s biggest cable channels and explore options for its less watched, according to the person. Discovery, which is slated to merge with WarnerMedia next year, plans to turn its DIY network into a Magnolia network. The Hallmark Channel is perhaps best known for its annual Christmas Movie Marathon. Abbott left in January 2020 after a controversy on the Hallmark Channel removing ads featuring same-sex marriage. The network then reversed its decision and apologized. BLOOMBERG NEWS

Source link

]]> 0
Are you looking for a gold loan? Avoid informal lenders Mon, 07 Jun 2021 06:30:51 +0000

Gold loans shine a little brighter this fiscal quarter. The latest data from the Reserve Bank of India (RBI) shows that gold lending has increased 82% since March of last year.

Experts believe the surge in gold pledges can be attributed to the intense economic distress caused by the COVID-19 pandemic. As lakhs lost their savings in COVID treatment, many small and medium-sized businesses are seeking capital to overcome the huge losses suffered since 2020.

Gold has been considered an age-old form of investment in the country, especially in southern India. It is one of the largest gold markets in the world. Indians prefer gold not only for its monetary value, but also because of a certain emotional attachment. Gold ornaments are passed down from generation to generation and are used as collateral to raise capital quickly.


According to the World Gold Council, the average Indian household owns 84% ​​of its wealth in real estate and other physical assets, 11% in gold and the remaining 5% in financial assets. The dependence of rural households on physical assets such as gold has been the result not only of the love of gold, but also of low banking penetration until recently.

Read also : Must Read: How To Rebuild Your Emergency Corpus For COVID Times

Organized and unorganized sectors

Indians generally prefer to pledge gold rather than sell it because the yellow metal has emotional significance to them. Traditionally, they have mortgaged their gold to local lenders and pawn shops for short-term expenses. In recent years, banks and non-bank financial corporations (NBFCs), which form the organized sector of the gold lending landscape, have provided loans for gold. However, the majority of the market is still dominated by the unorganized sector.

A report titled “Return of Gold Financiers in India’s Organized Lending Market,” published by the accounting firm KPMG, stated that the organized gold lending market comprising banks (public, private, petty finance and cooperatives), NBFCs and of Nidhi companies contributes only 35 percent of the Indian gold lending market.

The Managing Director and CEO of Manappuram Finance Ltd., Vice President Nandakumar, said in a report: “This business was the preserve of the unorganized sector, pawn shops and pawn shops who operated in the tracks and the pawn shops. lanes across the country, away from the oversight of regulators and politicians. manufacturers. Indeed, India’s regulatory and policy-making establishment (as well as banking sector policymakers) were largely uninformed about gold lending and the importance of so many Indians. ordinary. The unorganized sector is still preferred for gold lending as the actors are known to deliver money quickly with little documentation, making it easier for the unbanked population without a credit score to get a loan.

C:  Users  User  Desktop  KPMG.JPG
Source: KPMG

The dangers of pledging gold in the unorganized sector

High interest rates: The main disadvantage of pledging your gold with the local lender is the high interest rate. Since players are unregulated, lenders are very likely to be financially exploited by lenders.

Read also : Should we invest money on Amazon, Netflix, Tesla and Twitter?

While NBFCs charge an interest rate of 11-24% and banks charge between 7-15% per annum, local lenders charge between 25-50% for the same period.

An official working with a large public sector bank said: “Besides the low interest rates, the process of getting gold loans from banks has also become easier, as customers can now apply for a loan online. . The process does not take more than an hour. With the Pradhan Mantri Jan Dhan Yojana, a large part of the previously unbanked population now has bank accounts, making it easier for us to enter the market. “

The major NBFCs provide home gold loans where an agent goes to clients’ homes to appraise gold assets. Unlike banks, they take more risk and lend to customers with low credit ratings.

Read also : Want to know your net worth? This is how you can find out

Low assurance of recovering valuables: Formal institutions follow a transparent process for returning your gold after the term has ended. You can rest assured that after the loan repayment period, your valuables will be returned to you.

An official who deals with gold lending at a national bank said: “In the event of default by a gold lender, it is the prerogative of the bank to get rid of the gold and get his money back. Therefore, a standard procedure is followed before gold is declared non-performing asset (NPA) and auctioned. After a few reminders to the borrower, a notification is published in the newspapers regarding the auction in order to give the customer every chance to get his gold back. These processes do not exist in the informal sector, making local lenders less responsible for collateral.

Dubious valuation: You are more likely to get the true valuation of your assets in banks and NBFCs than in the unorganized sector. The loan amount that can be raised against gold depends on the value of the gold, and pawn shops can easily take customers for a ride quoting a lower price of the pledged valuables.

No fixed LTV: The loan-to-value ratio (LTV) is the amount of loan-to-gold that you can avail on the value of the gold you own. “This value was set by the RBI at 75 percent. But lenders in the unorganized sector are not required to follow this and often offer a lower LTV, ”said a branch manager of an NBFC.

Sensing the distress in the economy, the RBI had raised the LTV to 90 percent for banks last year, so people could raise more money against the yellow metal.

security: Once you have pledged your gold coins, bars or ornaments to a regularized institution, you can be assured that the assets will be stored safely. Banks and NBFCs invest in high-end security systems to protect mortgaged valuables. In the event of theft, they are required to compensate their customers for the losses. But this assurance can hardly be given in the informal market.

Source link

]]> 0
Fast, cheap loans set to disrupt the $ 1.9 trillion mortgage market Sun, 06 Jun 2021 03:58:18 +0000

Many have tried to disrupt home lending in a similar fashion in Australia, with limited success. But Wilson argues that banks will face a key competitive battle in the fight against non-bank lenders such as Athena Home Loans and Nano, both of which use technology to provide fast, low-cost mortgages through online channels. .


He says that over the next three to five years, the mortgage market could experience the kind of disruption Uber has inflicted on taxis.

To be fair to the big banks, they are starting from a position of enormous strength and they will not back down from a mortgage battle.

They have very established brands, cheaper funding than their smaller competitors, and huge budgets for technology and marketing. Major foreign banks such as Citi, HSBC and ING have competed in Australian retail banking for decades without making major inroads. So what is different today?

Those who are convinced that a great upheaval is coming say the essential difference is that the technology is more powerful and that the transition to digital banking has been accelerated by COVID-19.

Nano, a digital lender founded by former Westpac executives Andrew Walker and Chris Lumby, claims to have a fully digital process that can complete an approval for low-risk loans in under 10 minutes.

Walker says Nano can pump approvals this fast because it uses algorithms to sift through clients’ bank details, instead of requiring payslips and bank statements. It also targets low risk loans.

The argument is that automated approvals are disruptive because they are not only more convenient for clients, but also considerably less expensive for the lender.

All good points, but won’t banks with deep pockets just be able to deploy technology similar to that of their fintech challengers?

They’re definitely trying, thanks to multibillion-dollar tech spending and their own in-house venture capital units.


But those who predict a wave of mortgage disruption, like James Cameron, partner of Airtree Ventures, point out that banks have often struggled with major technological transformations. Cameron, whose fund is invested in mortgage lender Athena, says banks are in some ways “victims of their own success.” These are huge institutions that have been around for many decades, if not centuries, so rapid change doesn’t come naturally.

Banks are still scrambling to change, and analysts expect them to continue investing in their own fintech ideas, teaming up with fintechs, and potentially buying off competitors.

It should also be remembered that banks successfully responded to new competitors in the mortgage market in the 1990s, when brokers such as Aussie Home Loans and non-bank lenders such as Wizard and RAMS entered the scene.

Some well-respected banking observers, such as Jefferies analyst Brian Johnson, are also unconvinced that banks are vulnerable to a wave of mortgage disruption. Johnson points out that the “neobank” model has barely turned off the lights and believes the real disruption will come in the small and medium-sized business sector.

Despite this, international experience and big changes in areas such as consumer lending suggest that mortgages will inevitably face a digital upheaval.

At the very least, the mortgage market appears to be on the cusp of a wave of digital innovation aimed at simplifying loan application.

Whether this takes some of the shine off the Big Four’s home loan profit factories will depend on how the incumbents react to the threat.

The Market Recap newsletter summarizes the exchanges of the day. Get it every weekday afternoon.

Source link

]]> 0
Struggling With Student Loans Lifestyles Sat, 05 Jun 2021 15:00:00 +0000

DEAR ANNIE: I met a man about four years ago. We started dating a week after we met, at her insistence. Well after we were together a year I found out that he was texting with a girl online and had been for several months. She didn’t want him. Then, a month later, I heard that he cheated on me with someone from work who was in his twenties, the same age as his daughter. I confronted him, but he refused to admit he was guilty. However, I have caught him exchanging sex messages with a few other girls online since then. He says he has never met them in person.

Guess my question to you is, is it worth trying to keep this man in my life? I love him and he says he loves me, but part of me is no longer in love with him. If I’m being honest, I’ve been feeling this since I heard about his cheating on this young lady. What do you think, Annie: Should I put it on the sidewalk on garbage day? My heart tells me to stay, but my mind wants me to tell it to get lost. – Confused girlfriend

DEAR CONFUSED: Listen to your mind on this one. Not only did he cheat on you more than once (daring posts count as cheating), he also showed no interest in really fixing things up on you. Life is short and your time is too precious to waste it on someone who doesn’t value it. Although at first it might seem difficult to live without him, eventually you will look back and wonder how you lived with him for as long as you did.

DEAR ANNIE: I’m in my last year of high school and I’m struggling financially at the moment. I plan to go to community college but even so I would still have to pay $ 2,000 out of my pocket because for some reason they are having trouble viewing my free federal student aid application form.

I am very overwhelmed, and I don’t even know what to do now. If I quit school for a year to work and save money, it will be very difficult for me to readjust to a student’s lifestyle. If I don’t, I’ll have to take out a loan, and I don’t even know if I can afford to pay it back. I have five children to take care of (my little brothers and sisters). Is there some sort of solution to this? I know that when I am stressed and overwhelmed it is very difficult for me to see obvious answers to my problems, and I tend to think too much. I just need a few tips and advice and a little walkthrough. My whole family is counting on me to get through this educationally. So I really need a stable, well-paying job that can support a family.

I would really appreciate any help you can offer. – Embarrassed and overwhelmed

DEAR EMBARRASSED: Far from being embarrassed, you should be proud. You invest in your education and start a new chapter in your life while helping to take care of your family. Don’t be dissuaded from starting school just because you feel overwhelmed with student loan applications. Navigating the student loan system can be a challenge, even for people who have done so before. It’s only natural that you need some guidance in the process. Fortunately, the Federal Student Aid Information Center exists for this purpose. Contact their hotline at 800-433-3243 for expert assistance. Well done and best wishes to you.

Source link

]]> 0
Interest-free loans are now a thing – here’s how the options available in South Africa stack up Sat, 05 Jun 2021 04:23:10 +0000

Lay-by companies in South Africa

  • Interest-free loans, like the new wait models, are increasingly common in South Africa, especially among online merchants.
  • Buyers most often just pay a deposit and receive the goods in advance – with several weeks to pay off the balance, without accruing interest.
  • However, they are usually limited to one low value purchase at a time and are subject to fines if you are unable to pay on time.
  • Here’s how three new-style local waiting options stack up.
  • For more stories go to

Interest-free loans to repay purchases of specific items are increasingly common in online and physical stores in South Africa.

At least three local businesses, LayUp, PayJustNow and Payflex, are now competing to offer buyers an engaging approach to the otherwise archaic hold option. These redesigned on-hold services allow buyers to make a deposit, in the case of two or more goods received in advance, and then pay the balance owed over the following months – at no additional cost.

For buyers, this is largely a no-catch deal. After signing up and receiving approval, you will simply need to pay an agreed down payment (usually in the range of 25%) and then meet your subsequent payment deadlines each month thereafter.

Unlike traditional rest areas, subsequent payments don’t inflate the price of what you buy, and there are no fees to pay either. Some will even release the goods with just the small deposit paid. Provided you don’t violate the deal, this essentially amounts to an interest-free loan to pay off one or more items from a specific retailer.

There are obviously some limitations. The first being that it looks like these new parking companies are working hard to lock retailers into exclusive deals, which means limited leeway in choosing who takes care of your parking lot.

Membership of large retailers is also relatively limited – for now. While stores like Edgars, Pro Shop, Cotton On, and Cape Union Mart flirt with these options, some limit their integration into the online-only space. This means that most of the retailers that the local hold businesses have subscribed to are all pretty random businesses and ecommerce sites that you may never have heard of.

This, it seems, is part of the business model of this new wave of hold businesses. Their sales pitch is primarily aimed at merchants – with promises like: “Convert up to 60% more customers today”, “Increase sales” and “Increase average order value to 25 % “.

This is a particularly attractive option for niche stores looking to increase their online presence and hopefully generate more sales. And in most cases, they also aren’t required to pay relief processing companies anything up front, or take any risks, to offer their clients interest-free payments. Instead, they take a commission from the merchant on every sale they make – usually around 5%.

The risk to consumers is that stores may – at some point – decide that the cost of interest-free payments should be borne by buyers, much like smaller independent stores that historically included a surcharge for credit card payments. or cash rebates. But for now, it looks like it’s not happening, and most stores are happy to swallow that cost in the hopes that it will be offset by the improved conversion rate.

The talk to buyers is equally compelling, but not without some pretty detailed terms and conditions that will keep you in the loop if you don’t make your payments. While companies claim their late payment penalties are low, given the equally low value of purchases, they aren’t always surprising – in the worst case scenario, you could end up with another R375 on top of your loan of R1 500, for example.

As with normal credit accounts, you will also need to build a reputation for yourself if you want to extract real value from the service. Initial purchases are limited to one at a time for nominal amounts of around R 1,000 to R 1,500 – but each time you prove your ability to repay them you will earn the right to receive higher limits and spend more. simultaneous orders.

Here’s how LayUp, PayJustNow and Payflex compare

Waiting comparison table

Waiting comparison table

Receive a daily update on your mobile phone. Or get the best of our site by email

Go to the Business Insider home page for more stories.

Source link

]]> 0