Financial Affairs – Radical Philosophy http://radicalphilosophy.org/ Wed, 29 Sep 2021 22:29:17 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://radicalphilosophy.org/wp-content/uploads/2021/05/radical-philosophy-icon-150x150.png Financial Affairs – Radical Philosophy http://radicalphilosophy.org/ 32 32 Deployment of the HASCAP reduced rate loan in progress https://radicalphilosophy.org/deployment-of-the-hascap-reduced-rate-loan-in-progress/ https://radicalphilosophy.org/deployment-of-the-hascap-reduced-rate-loan-in-progress/#respond Thu, 08 Apr 2021 02:38:33 +0000 https://radicalphilosophy.org/deployment-of-the-hascap-reduced-rate-loan-in-progress/

Financial institutions have started rolling out low-interest loans promised to commercial operators facing financial strains from the pandemic. As announced in the federal government economic declaration Last fall, loans of $ 25,000 to $ 1 million will be available under the Highly Affected Sectors Credit Availability Program (HASCAP), fully guaranteed by the Business Development Bank of Canada (BDC).

HASCAP is aimed at previously financially stable small and medium-sized businesses in Canada that have experienced a 50% or more drop in revenue due to COVID-19-related reasons. Loans are intended to support the continuation or resumption of business activities and cannot be used to repay or refinance existing debt. Businesses with more than one location, such as hotels, restaurants, or retail outlets, may be eligible for multiple loans up to a maximum of $ 6.25 million.

“We know that the second wave of this virus continues to weigh on many workers and businesses. HASCAP is providing new support to people in the sectors most affected – such as tourism, hospitality, the arts and culture – so that they can weather this storm and be ready for a strong recovery, ”said Minister of Foreign Affairs. Finances Chrystia Freeland.

Major financial institutions are expected to start administering HASCAP on February 1, and more lenders are expected to join us by mid-month. The loans will have a term of 10 years at an interest rate of 4%, and approved borrowers will be able to defer principal payments for up to 12 months from initial receipt.

To be eligible, businesses can show proof that they have been eligible for the Canada Emergency Wage Subsidy (CUS) and / or the Canada Emergency Rent Grant (CERS) at least three of the eight months preceding their application. Alternatively, some businesses that were not eligible for the ESRB or SSUC may be accepted if they can provide financial statements showing three months where year-over-year revenue has declined by at least 50 percent over the course of the year. of the previous eight months.

While potential borrowers are required to apply through their primary financial institution, they will also need to complete an online form providing “high level information” for BDC. “This information will help the Government of Canada understand which companies are seeking assistance under this program,” the accompanying information states.

“We know that even the most resilient businesses continue to face incredible challenges,” notes Mary Ng, Minister of Small Business, Export Promotion and International Trade.

HASCAP will be open for applications until June 30, 2021.

Source link

]]>
https://radicalphilosophy.org/deployment-of-the-hascap-reduced-rate-loan-in-progress/feed/ 0
Opinion: Food or medicine? The Dangerous Choice Many Seniors Must Make https://radicalphilosophy.org/opinion-food-or-medicine-the-dangerous-choice-many-seniors-must-make/ https://radicalphilosophy.org/opinion-food-or-medicine-the-dangerous-choice-many-seniors-must-make/#respond Thu, 08 Apr 2021 02:38:22 +0000 https://radicalphilosophy.org/opinion-food-or-medicine-the-dangerous-choice-many-seniors-must-make/

You need to keep a roof over your head, keep food in the fridge, and keep track of your medications. But what if you can’t afford all three? What are you doing? The choices are difficult and potentially dangerous.

It’s like that for many Americans, according to a study by GoodRx, a Santa Monica. California-based healthcare company that tracks prescription drug prices across the country.

In 2020, note Amanda Nguyen, Ph.D., a GoodRx health economist, nearly 40% of those polled said paying for prescriptions was financially difficult. Writing in a corporate blog, she added that “over 20% said they struggled to pay for basic necessities like food and shelter as a result.”

The COVID-19 pandemic, which has put millions of Americans out of work, has obviously made matters worse. Job loss usually means loss of health insurance, forcing people to cut their savings, take on debt “and (make) potentially dangerous changes to their prescribed drug regimen,” Nguyen writes.

In January, another GoodRx poll indicated that the the price of 832 drugs increased by an average of 4.6%. Of these, the company’s Tori Marsh MPH said, 822 were brand name drugs, 175 were specialty drugs (meaning they were probably expensive to start with) and the rest were professionally administered drugs. health care (available only under the supervision of a healthcare professional). . The overall increases appear to be the biggest in years, she said.

The prices of some drugs are rising even faster. The world’s best-selling drug Humira, an anti-inflammatory drug used to treat rheumatoid arthritis, psoriasis and Crohn’s disease, increased 7.4% in January and 21% in the past three years, according to Marsh. Humira is a cash dispenser for its manufacturer, AbbVie Inc., which has stated that it is responsible for $ 5.152 billion in net revenues in the fourth quarter of 2020 only. The Food and Drug Administration has actually approved five generic versions of Humira, but so far these “biosimilars” (as the industry calls generics) have yet to stop the AbbVie slurping train.

The GoodRx study covered all age groups, but there is no doubt that this kind of price increase can be especially overwhelming for older people, who are likely to be out of the workforce and overly dependent. social security. As I mentioned before, the the average social security recipient receives $ 1,543 per month this year– up just 1.3% from a year ago – and for millions of Americans, it’s the only source of income they have.

So when the cost of a needed drug increases at a faster rate than that, tough choices have to be made.

Marsh says that’s what a lot of people do.

“In 2020, 20.7% of people reported getting into debt or declaring bankruptcy because of the cost of their prescription drugs. Borrowing from friends or family was the most common financial action (16.8%), followed by obtaining loans (5.0%), taking out another mortgage (1.2 %) and bankruptcy (1.0%).

Imagine having to mortgage your house or file for bankruptcy because the combined cost of keeping a roof over your head, food in the fridge, and medicine in the bathroom cabinet is too high. I have a feeling that is not what the term “golden years” is meant to mean.

What can be done about all of this? America’s health care system is a gargantuan mess. We spend more on health care – twice the average for developed countries in fact – but the results are worse, according to that depressing Commonwealth Fund report. Believe me: he’s a downer.

And yet, some proposals revolve around the idea of ​​spending even more money. As a candidate, Joe Biden suggested lowering the age of eligibility for Medicare from five years to 60. But most Americans – 85% of Democrats and 69% of Republicans – want him be lowered further, to only 50 years. according to a 2019 Kaiser Family Foundation survey.

Where will the money come from? Medicare finances are already shaky. Its Hospital Insurance Trust Fund, for example, will not have enough money to cover all benefit costs from 2024 — around the corner. What happens when millions of new beneficiaries are added to the system? Significantly higher taxes would seem to be the painful answer. Good luck getting a big tax hike from Congress anyway.

And even though the Medicare eligibility age remains at 65, thousands of Americans are becoming eligible daily. Tough choices for millions of people (food, rent, medicine, and more) await. Tell me your story. Do you have to make choices like this? Between food / rent and your medicine? I won’t identify you if you prefer. My email: RetirebetterMarketWatch@gmail.com.

Source link

]]>
https://radicalphilosophy.org/opinion-food-or-medicine-the-dangerous-choice-many-seniors-must-make/feed/ 0
Business opportunities, current trends, market challenges and industry analysis by 2021-2028 – Le Courrier https://radicalphilosophy.org/business-opportunities-current-trends-market-challenges-and-industry-analysis-by-2021-2028-le-courrier/ https://radicalphilosophy.org/business-opportunities-current-trends-market-challenges-and-industry-analysis-by-2021-2028-le-courrier/#respond Thu, 08 Apr 2021 02:38:14 +0000 https://radicalphilosophy.org/business-opportunities-current-trends-market-challenges-and-industry-analysis-by-2021-2028-le-courrier/

Market Research Inc Reports Globe recently added a report on the Peer-to-Peer Lending Market (P2P) which contains a brief analysis of the market size, sales forecast and regional landscape of this industry. The report also highlights the main challenges and current growth strategies pursued by leading companies that are part of the dynamic competitive spectrum of this industry.

The most recent Peer-to-Peer Lending Market (P2P) The report is a comprehensive analysis of this industry sector and contains enough information on various parameters such as current market dynamics, market share, industry size, periodic results, current compensation, expected growth prospects and estimates. Profit margins accumulated by the market over the forecast period

Main key players:

  • Reached
  • Fundraising circle
  • Prosper
  • CircleBack loan
  • Peerform
  • Loan Club

The research report includes the profiles of top sellers of the company’s competitors, their data, transaction revenue, revenue share, transaction volume and buyer volume are also specified. The conclusions provided in this report are of great value to the major players in the industry. The base of several key regions such as North America, Latin America, Asia-Pacific and Africa, as well as specific areas on the basis of productivity and demands. Much of the report talks about existing technologies and how they influence the growth of the market.

Request to obtain the sample of the report: https://www.marketresearchinc.com/request-sample.php?id=25779

The main types of products are:

  • Business loans
  • Ready for consumption

The main applications are:

Based on region

  • North America (NA) – United States, Canada and rest of North America
  • Europe (EU) – UK, Germany, France and rest of Europe
  • Asia-Pacific (APAC) – China, Japan, India and rest of APAC
  • Latin America (LA) – Brazil and the rest of Latin America
  • Middle East and Africa (MEA) – Middle East and Africa

Get a discount on the report: https://www.marketresearchinc.com/ask-for-discount.php?id=25779

Reasons why you should buy this report

This report provides an accurate analysis of changing competitive dynamics

  • It provides a forward-looking perspective on different factors that are driving or restraining the growth of the market.
  • It provides an eight-year forecast evaluated on the basis of how the market is predicted to grow.
  • It helps to understand the key product segments and their future.
  • It provides an accurate analysis of changing competitive dynamics and allows you to stay ahead of your competition.
  • It helps in making informed business decisions by having a comprehensive view of the market and performing in-depth analysis of market segments.

This research study examines current market trends related to demand, supply and sales, in addition to recent developments. The main drivers, constraints and opportunities have been covered to provide a comprehensive picture of the market. The analysis presents detailed information on the development, trends and industry policies and regulations implemented in each of the geographic regions. Furthermore, the overall regulatory framework of the market has been comprehensively covered to provide stakeholders with a better understanding of the key factors affecting the overall market environment.

For any request / report related to personalization: https://www.marketresearchinc.com/enquiry-before-buying.php?id=25779

Contents:

  • Peer-to-Peer Lending (P2P) Market Overview
  • Industry Impact of Peer-to-Peer Lending (P2P) Market
  • Competition in the peer-to-peer (P2P) lending market
  • Peer-to-Peer Lending (P2P) Market Production, Revenue by Region
  • Supply, Consumption, Export and Import of Peer-to-Peer Lending (P2P) Market by Region
  • Peer-to-Peer Lending (P2P) Market Production, Revenue, Price Trend by Type
  • Peer to Peer (P2P) Lending Market Analysis by Application
  • Manufacturing Cost Analysis of Peer-to-Peer Lending (P2P) Market
  • Internal chain, sourcing strategy and downstream buyers
  • Marketing strategy analysis, distributors / traders
  • Analysis of market effect factors
  • Peer-to-Peer Lending (P2P) Market Forecast (2021-2028)
  • Annex

About Us

Market Research Inc is far-sighted in its point of view and covers considerable ground in global research. Local or global, we closely monitor both markets. Trends and competing assessments sometimes overlap and influence each other. When we talk about market intelligence, we mean an in-depth, knowledgeable view of your products, market, marketing, competition, and customers. Market research companies are leading the way in developing thought leadership on a global scale. We help your product / service become the best it can be through our thoughtful approach.

Contact us

Market Research Inc

Author: Kevin

Address in the United States: 51 Yerba Buena Lane, ground floor suite,

Interior Sunset San Francisco, CA 94103, USA

Call us : +1 (628) 225-1818

Write U.S: sales@marketresearchinc.com

Source link

]]>
https://radicalphilosophy.org/business-opportunities-current-trends-market-challenges-and-industry-analysis-by-2021-2028-le-courrier/feed/ 0
SBI Adani I case French Amundi threatens to sell SBI bonds on proposed loan for Adani coal mine of 5,000 cr https://radicalphilosophy.org/sbi-adani-i-case-french-amundi-threatens-to-sell-sbi-bonds-on-proposed-loan-for-adani-coal-mine-of-5000-cr/ https://radicalphilosophy.org/sbi-adani-i-case-french-amundi-threatens-to-sell-sbi-bonds-on-proposed-loan-for-adani-coal-mine-of-5000-cr/#respond Thu, 08 Apr 2021 02:38:02 +0000 https://radicalphilosophy.org/sbi-adani-i-case-french-amundi-threatens-to-sell-sbi-bonds-on-proposed-loan-for-adani-coal-mine-of-5000-cr/

French Amundi threatens to sell SBI bonds on proposed loan for Adani coal mine of 5,000 cr | Photo credit: IANS

Highlights

  • SBI approved $ 1 billion loan to finance Carmichael Adani coal mine project in Queensland following Prime Minister Modi’s visit to Australia in 2014
  • Carmichael is a thermal coal mine under construction in the Galilee Basin in central Queensland
  • Adani was granted the right to extract coal in 2010. Since then, the project has been the subject of controversy.

New Delhi: French company Amundi, which is one of the State Bank of India’s (SBI) largest investors in India, threatened to sell the SBI green bonds it held unless it ended its operation. planned loan of 5,000 crore rupees to the Carmichael coal mine in Adani in Australia.

“We believe that SBI should not fund this project. Ultimately it is their decision but we were extremely clear that if they decided to do so, we would immediately divest ”, Director of the Institutional Clients & ESG Division, Jean Jacques Barberis, was quoted by a global press service.

“The financing of the mine would be in” total contradiction “with the activities of the SBI financed by its green bond, he added.

“We have engaged SBI by asking them not to participate (in the loan) and now we are awaiting their response,” he said.

Amundi, which owns the SBI green bonds as part of its Amundi Planet Green Emerging Fund, said it recently learned that the public lender is going to finance the controversial coal mine project in Australia.

The billion dollar Carmichael Adani coal mine project in Queensland, Australia has been the center of much controversy since its inception as activists because of the environmental issues it poses.

The development comes days after Samsung Securities, the investment arm of the South Korean conglomerate, announced that it would not support the project after it was targeted by protesters for having links with the miner. of coal.

Earlier this week, the first International One Day Match (ODI) between India and Australia in Sydney was briefly interrupted after two protesters appeared on the pitch with placards against the SBI coal mine project. and Adani Carmichael.

Six rounds after the start of Australia’s innings, protesters marched to the center of the ground with signs reading ‘No Billion Dollar Loan Adani’.

The protesters wore a t-shirt with slogans such as “#StopAdani”, “Stop Coal” and “#StopAdani”. Several anti-Adani protesters also gathered outside the Sydney Cricket Ground.

Source link

]]>
https://radicalphilosophy.org/sbi-adani-i-case-french-amundi-threatens-to-sell-sbi-bonds-on-proposed-loan-for-adani-coal-mine-of-5000-cr/feed/ 0
Understand the risks, costs before taking out a personal loan https://radicalphilosophy.org/loan-paid-in-24-hours-how-quickly-can-you-get-a-loan/ https://radicalphilosophy.org/loan-paid-in-24-hours-how-quickly-can-you-get-a-loan/#respond Thu, 08 Apr 2021 02:37:44 +0000 https://radicalphilosophy.org/understand-the-risks-costs-before-taking-out-a-personal-loan-advises-bbb/

ST. LOUIS, Mo. (May 11, 2020, BBB press release) – When cash is tight and bills loom, some consumers turn to payday loans. If not approached with caution, these loans can snowball into large debt, with high interest rates and collection tactics under pressure. Better Business Bureau (BBB) advises consumers to understand the risks before borrowing.

Borrow payday loans

Payday loans involve borrowing money against your next paycheck. Borrowers write a check for the amount they want to borrow, plus finance charges, and receive the money. The average loan term is around two weeks, but loans can – and often are – renewed. Visit the 24-hour loan offer of BridgePayday.

Payday loans can come with exorbitant fees; ongoing finance charges are $ 15 or $ 30 for every $ 100 borrowed, and annual interest rates can run into the hundreds. In Missouri, the maximum interest rate for a payday loan is 462% APR, although state law limits the total interest and charges for the term of a payday loan – including all renewals – 75% of the original loan amount. Illinois law caps payday loan interest rates at 404% APR. These high interest rates can force these borrowers to renew the loan and pay new fees every two weeks until they can finally save enough to pay off the principal and get out of debt.

Look for payday lenders

“Payday lenders can attract people who might not be able to get a credit card or a bank loan, but they can create a dangerous cycle of debt,” said Michelle L. Corey, President and CEO from the management of BBB St. Louis. “Consumers need to understand the costs before borrowing. ”

BBB received over 1,200 complaints about payday lenders in 2019. Many complaints were about high interest rates, as well as difficulties in canceling a loan agreement or getting reimbursed for automatic payments withdrawn in error. In April 2020, a man from St. Louis told BBB he prepaid a loan from a local payday lender, but the lender continued to call him about the daily interest and offer him a different reimbursement amount.

Besides, BBB scam tracker has received numerous reports of online payday loan scammers fooling desperate borrowers into wiring them upfront fees, but not receiving any funds in return. A St. Louis consumer said he lost $ 200 after being contacted by a payday lender who asked him for an upfront fee in the form of two gift cards.

Tips to help consumers become savvy borrowers:

  • Do your homework before you borrow. View the lender’s BBB company profile at bbb.org. It includes the history of the company’s complaints and how they were handled, customer reviews and more.
  • Beware of the upfront costs. Some short-term loan providers ask for a post-dated check to cover the amount you borrowed plus interest and fees. However, if a lender asks for this cash fee before giving you any money, stay away, especially if it is an online lender who requests money by wire transfer, who cannot to be found.
  • Limit the amount you borrow. Borrow only what you know you can repay with your next paycheck. Most companies will allow you to “renew” the balance for several weeks or months, but will charge you a fee all the time. This may require you to owe several times the original amount you borrowed.
  • Know your rights. Payday lenders are required to disclose certain information before taking out a loan. This information includes the cost, the interest rate payable, and the specific fees that will be paid.
  • Read the fine print. Pay attention to the costs and consequences of non-payment. Will the company allow you to make arrangements if you cannot pay?
  • Keep your documentation. Many consumers report receiving calls from collection agencies long after paying off a payday loan. Some calls are simple mistakes, but others are scammers’ attempts to collect debt that is not due. Protect yourself by having documents proving that all loans are repaid in full.
  • Know who to turn to. If you believe a lender has committed fraud or abused you, file a complaint with BBB and the Federal Trade Commission.
]]>
https://radicalphilosophy.org/loan-paid-in-24-hours-how-quickly-can-you-get-a-loan/feed/ 0
Canada Silver closes flow-through private placement https://radicalphilosophy.org/canada-silver-closes-flow-through-private-placement/ https://radicalphilosophy.org/canada-silver-closes-flow-through-private-placement/#respond Thu, 08 Apr 2021 02:37:18 +0000 https://radicalphilosophy.org/canada-silver-closes-flow-through-private-placement/

COQUITLAM, BC, April 7, 2021 / CNW / – Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) announces that the Company has closed a non-middleman private placement by issuing 2,021,276 flow-through units (“FT units”) at a price of $ 0.47 per FT Share generating gross proceeds of $ 950,000.

Each FT unit is composed of one flow-through common share of the Company and one half warrant. Each whole warrant will entitle its holder to purchase one additional common share of the Company at an exercise price of $ 0.58 per share, for a period of two years from closing, subject to approval by the TSX Venture Exchange (“Exchange”).

The Company paid research costs in the amount of $ 66,500 and issued 141,490 warrants in connection with FT’s private placement. The intermediation vouchers are under the same conditions as the financing vouchers. Research commissions are subject to the approval of the Stock Exchange.

All securities issued under the private placement will be subject to a four-month holding period and one day expiring on August 8, 2021 in accordance with applicable Canadian securities laws.

About Canada Silver Cobalt Works Inc. www.canadasilvercobaltworks.com

Canada Silver Cobalt Works released the very first resource in Gowganda Camp and Large Cobalt Camp in May 2020. A total of 7.56 million ounces of silver in inferred resources including very high silver content (8,582 grams per uncut tonne or 250.2 ounces / tonne) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of approximately 400 meters have been identified. The discovery remains open in all directions (1A and 1B are approximately 800 meters east of the Capitol mine workings) (mineral resources that are not mineral reserves have not demonstrated economic viability) (see press release from Canada Silver Cobalt Works May 28, 2020. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020 and a signing date of July 13, 2020.

The flagship Canada Silver Cobalt mine and the 78 km² Castle property have strong exploration potential for silver, cobalt, nickel, gold and copper in the prolific production history Gowganda high-grade silver district Northern Ontario. With underground access to Castle, a pilot plant to produce cobalt-rich gravity concentrates on-site, a processing facility (TTL Laboratories) in the town of Cobalt and a proprietary hydrometallurgical process known as Re-2Ox for creation of technical grade cobalt sulfate as well as nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt is strategically positioned to become a Canadian leader in silver-cobalt.

“Frank J. Basa”
Frank J. Basa, ing.
Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release may contain forward-looking statements, including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of title deeds, potential process of recovery of minerals, etc. Forward-looking statements deal with future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in these statements.

SOURCE Canada Silver Cobalt Works Inc.

Cision

Show original content: http://www.newswire.ca/en/releases/archive/April2021/07/c5528.html

Source link

]]>
https://radicalphilosophy.org/canada-silver-closes-flow-through-private-placement/feed/ 0
Small businesses still need major help from government and patrons https://radicalphilosophy.org/small-businesses-still-need-major-help-from-government-and-patrons/ https://radicalphilosophy.org/small-businesses-still-need-major-help-from-government-and-patrons/#respond Thu, 08 Apr 2021 02:36:52 +0000 https://radicalphilosophy.org/small-businesses-still-need-major-help-from-government-and-patrons/

More than a year since the Coronavirus pandemic First resulted in restrictions on Garden State businesses, New Jersey’s main streets remain vulnerable.

An updated COVID-19 survey from the National Federation of Independent Businesses provides insight into the outlook among small business owners, many of whom continue to seek temporary government help and need more customers to feel safe and secure. visit.

Thirteen percent of small employers surveyed in March said they will have to go out of business if current economic conditions do not improve over the next six months. The percentage is down from 25% in December, but it is expected, experts say, as more small businesses close.

Compared with January 2020, the number of small businesses currently open in New Jersey is down 38.7%, according to the New Jersey Business & Industry Association. At the same time, their turnover is down 42%.

About a third of small employers polled by the NFIB said they did not expect economic conditions to improve completely until 2022. Another 11% said this will not happen until after 2022.

“We need to build consumer confidence,” said Eileen Kean, New Jersey state director at NFIB, at New Jersey 101.5. “We have to get people to stop ordering online and say, ‘I can go to this store. “We’ve created a whole new mindset about how to live.”

Of the companies that received loans from the 2020 Paycheck Protection Program, 74% requested a loan forgiveness, according to the NFIB survey. Of those who received a first-draw PPP loan last year, 42% have already applied for a second-draw PPP loan.

Only 2% of small employers said they will require vaccination of their employees. Forty-five percent said they will encourage vaccination. Thirty-five percent of owners said they won’t get the vaccine themselves – 44% said the same in December.

Have you seen them? Most Wanted in Ocean County

Source link

]]>
https://radicalphilosophy.org/small-businesses-still-need-major-help-from-government-and-patrons/feed/ 0
Federal watchdog investigates Senator Ted Cruz’s efforts to change pandemic loan program https://radicalphilosophy.org/federal-watchdog-investigates-senator-ted-cruzs-efforts-to-change-pandemic-loan-program/ https://radicalphilosophy.org/federal-watchdog-investigates-senator-ted-cruzs-efforts-to-change-pandemic-loan-program/#respond Wed, 07 Apr 2021 23:17:43 +0000 https://radicalphilosophy.org/federal-watchdog-investigates-senator-ted-cruzs-efforts-to-change-pandemic-loan-program/

A federal watchdog for pandemic relief funding is asking for information about Texas Senator Ted Cruz’s efforts to change a loan program. The requirements for the program were changed shortly after Cruz wrote to managers. The changes benefited Cruz’s major donors.

The Federal Reserve’s Main Street Lending Program has provided loans to businesses suffering from the economic effects of the pandemic. According to a December report in the the Wall Street newspaper, shortly after Cruz wrote to Fed Chairman Jerome Powell and former Treasury Secretary Steve Mnuchin in April, two key loan program requirements were changed.

These changes enabled Cruz’s two major financial donors to secure a federal-backed loan of $ 35 million. Texas billionaires Farris and Dan Wilks’ ProFrac Holdings LLC received the loan while buying or increasing their stakes in other oil and gas companies.

Now Brian D. Miller, the Special Inspector General for Pandemic Recovery, is asking the Treasury Department of Cruz’s office communications. The inspector also wants to know the rationale for the change in the loan program.

“While recent reports do not allege malpractice, they relate to the management of investments made by the secretary under CARES. [Act] – a central area of ​​jurisdiction for the special inspector general for pandemic recovery, ”Miller wrote to a Treasury Department lawyer last month.

The letter was annexed to the inspector’s report recent quarterly report to Congress.

An email from Cruz’s office at KERA highlighted the economic damage the pandemic has caused to an already struggling oil and gas industry.

“With the price of oil at -37 $, energy producers on the verge of bankruptcy and tens of thousands of blue-collar workers in Texas whose jobs are at stake, Senator Cruz has worked to ensure that small and medium-sized businesses are directly affected. by the economic impacts of this pandemic have had access to emergency liquidity, ”said spokeswoman for Cruz, Maria Jeffrey Reynolds. “The result of his leadership has been a program that has helped about 25 US energy producers, including about a dozen in Texas, and helped protect more than 300,000 oil and gas jobs in Texas.”

Do you have any advice? Email Bret Jaspers at bjaspers@kera.org. You can follow Bret on Twitter @bretjaspers.

KERA News is made possible by the generosity of our members. If you find this report useful, consider donate tax deductible today. Thank you.

Update: February 3, 2021 at 5:57 p.m. CST

This story has been updated to include comments from Senator Ted Cruz’s office.


Source link

]]>
https://radicalphilosophy.org/federal-watchdog-investigates-senator-ted-cruzs-efforts-to-change-pandemic-loan-program/feed/ 0
MDJM has received the prequalification notice of a sales agency service project https://radicalphilosophy.org/mdjm-has-received-the-prequalification-notice-of-a-sales-agency-service-project/ https://radicalphilosophy.org/mdjm-has-received-the-prequalification-notice-of-a-sales-agency-service-project/#respond Wed, 07 Apr 2021 23:17:42 +0000 https://radicalphilosophy.org/mdjm-has-received-the-prequalification-notice-of-a-sales-agency-service-project/

TIANJIN, China, April 7, 2021 / PRNewswire / – MDJM LTD (Nasdaq: MDJH) (the “Company” or “MDJH”), an integrated real estate services company in China, today announced that it has received a prequalification notice from Tianjin Infrastructure Investment Group, for a sales agency services project for the construction program located in Zhangguizhuang District, Tianjin, China. Only two of the six companies that participated in the tender were shortlisted and the Company is currently in the process of signing the sales agency contract with Tianjin Infrastructure Investment Group. Tianjin Infrastructure Investment Group, a state-owned enterprise specializing in the financing, investment, construction and operation of major urban infrastructure, owns a wide range of land plots in the urban area, the crown and the suburbs of Tianjin with a total of 17 projects covering 563 hectares of land available for sale.

“MDJH has adhered to an efficient management model, and we have been recognized by Tianjin Infrastructure Investment Group, the leading real estate company in Tianjin, which lays a solid foundation for future cooperation between the two parties. We are delighted about this cooperation with Tianjin Infrastructure Investment Group. ” said Mr. Siping Xu, Chairman and CEO of MDJH.

About MDJM LTD

With branches in Tianjin, Chengdu, Suzhou and Yangzhou, China, MDJH provides primary real estate agency services to real estate developer clients, as well as real estate consulting and independent training services as required. The Company also provides tourism development services, including real estate marketing and planning services, real estate agency services and advertising planning services. For more information about the company, please visit: http://ir.mdjhchina.com.

About Tianjin Infrastructure Investment Group

Established in 2004 with the direct approval of Tianjin Municipal Government, Tianjin Infrastructure Investment Group is a fully state-owned enterprise specializing in the financing, investment, construction and operation of large urban infrastructure. It raises funds for urban construction by cultivating listed companies, issuing corporate bonds and attracting strategic investors, and operates urban construction assets with concessions granted by the government. More information can be found at: https://www.tj-chengtou.com/.

Forward-looking statements

This announcement contains forward-looking statements. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections regarding future events and financial trends which, in the opinion of the Company, could affect its financial condition, results of operations and strategy. business and financial needs. In addition, there is uncertainty as to the continued spread of the COVID-19 virus or the appearance of another wave of cases and the impact this could have on the Company’s operations. Investors can identify these forward-looking statements by using words or phrases such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “have the” intention ”,“ plan ”,“ believe ”,“ potential ”,“ continue ”,“ is / are likely to ”or other similar expressions. The Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as required by law. While the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot guarantee that such expectations will prove to be correct, and the Company cautions investors that actual results may differ materially from anticipated results and encourages investors to review other factors that may affect its future results in the Company’s annual report on Form 20-F and in its other documents filed with the Securities and Exchange Commission.

Investor contact:
Sherry Zheng
Weitian Group SARL
E-mail: [email protected]
Telephone: +1 718-213-7386

SOURCE MDJM LTD

Related links

http://ir.mdjhchina.com

Source link

]]>
https://radicalphilosophy.org/mdjm-has-received-the-prequalification-notice-of-a-sales-agency-service-project/feed/ 0
Practical advice to support distressed loan portfolios https://radicalphilosophy.org/practical-advice-to-support-distressed-loan-portfolios/ https://radicalphilosophy.org/practical-advice-to-support-distressed-loan-portfolios/#respond Wed, 07 Apr 2021 23:17:40 +0000 https://radicalphilosophy.org/practical-advice-to-support-distressed-loan-portfolios/

The chaotic economic environment brought about by the coronavirus pandemic has led to an increase in struggling businesses. Lenders and creditors face an unprecedented challenge of managing a high volume of distressed loans.

Legal teams that support lenders should quickly assess best practices for dealing with these distressed loans,
while navigating tight budgets and a hazy recovery schedule.

Attend our webinar on August 26 at 1 p.m. ET / 10 a.m. PT and hear from our experts in turnaround, loan restructuring and special asset management. They will share their combined knowledge on how to solve this growing problem.

The discussion will focus on:

  • Manage challenges for businesses with high volumes of commercial loans in the midst of an economic crisis
  • Prioritize key customers and manage deteriorating relationships
  • Support loan teams and special asset groups dealing with distressed commercial loans
  • Anticipate deterioration of loan portfolios, including drafting and managing large-scale forbearance
  • Respond to unique concerns, including preference disputes and real estate-specific challenges

Presenters:
Marc Allon, Axiom Financial & Bankruptcy Lawyer
Jack Lundstedt, Lawyer Financial Restructuring & Commercial Contracts Axiom

Moderator:
David Feldman, Director of Solutions Marketing, Axiom

By submitting the form below, you agree to receive communications from Above la Loi and its partners.

Source link

]]>
https://radicalphilosophy.org/practical-advice-to-support-distressed-loan-portfolios/feed/ 0