Month: September 2021

SBA enhances disaster loan program citing Delta variant challenges

The Small Business Administration on Thursday announced improvements to its disaster loan program in an effort to help more small businesses access financial support from the government as the Delta variant of COVID-19 continues to trip up business operations nationwide. 

For one, the SBA is raising loan limits in its Economic Injury Disaster Loan program — low-interest loans to be paid back over 30 years — from $500,000 to $2 million. Funds may be used for any operating expenses, including purchasing equipment and making payments on debt.

The SBA is also deferring repayment of the loans for two years after

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China plans to break up Ant’s Alipay and force creation of separate loans app – FT

Sept 12 (Reuters) – Beijing wants to break up Alipay, the hugely popular payments app owned by Jack Ma’s Ant Group, and create a separate app for the company’s highly profitable loans business, the Financial Times reported on Sunday.

The plan will also see Ant turn over the user data that underpins its lending decisions to a new credit scoring joint-venture, which will be partly state-owned, the newspaper reported, citing two people familiar with the process.

State-backed firms are set to take a sizeable stake in Ant’s credit-scoring joint venture for the first time, three people told Reuters last week.

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City finance director quits after one week | Government

Katie Mull, the director of finance for the City of St. Joseph, quit Tuesday afternoon, said City Manager Bryan Carter.

Mull’s first day on the job was Aug. 30. Carter said she did not give a reason as to why she left the job so soon.

Mull graduated from Missouri Western State University with a Bachelor of Science degree in business management/accounting. Her previous job was in the private sector. Her salary as the city’s finance director was $127,000.

Amy Cohorst, the city’s human resources director, has been named interim finance director.

Carter said the city will post the job

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Solar Loans 101: How to Get Low Interest Rates

Many homeowners can benefit from
installing solar panels, harnessing the sun’s energy to help reduce or even eliminate their dependence on traditional utilities. Although solar panels can be expensive, solar loans make residential systems more accessible to homeowners.

Indeed, if you live in an area that gets consistent year-round exposure to the sun, solar panels can be an effective way to lower your home’s energy costs while minimizing your environmental footprint. The biggest obstacle to solar adoption is the initial
cost of solar panels.

All in, solar panel installation costs typically range from $10,000 to $35,000. In this article, we’ll

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How the Taliban might finance their new Afghan government

Now that the Taliban have reportedly taken full control of Afghanistan and begun forming a government, a looming challenge awaits: How will they keep their country and economy afloat financially?

For the past 20 years, the U.S. government and other countries have financed the vast majority of the Afghan government’s non-military budget – and every cent of the fighting force that melted to the Taliban so quickly in August 2021. Now, with American aid likely out of the question and billions in central bank foreign reserves frozen, the Taliban will have to find other means to pay for

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Inside the cult of crypto

Chris DeRose was noodling away on the internet when he stumbled over an intriguing post on Slashdot, a forum for extremely online hyper-geeks like himself.

“How’s this for a disruptive technology,” a user wrote on July 11 2010, enthusiastically describing a decentralised, peer-to-peer digital currency with no central bank, no transaction fees and beyond the reach of any government. Using computers to solve cryptographic puzzles would earn people “bitcoins”.

DeRose was intrigued yet unconvinced by the concept. The young Floridian programmer struggled to see what utility it might serve. Many others on the forum were also sceptical. “Hey thanks for

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5-year personal loan rates tumble, 3-year rates hit highest point since June

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own.

The latest trends in interest rates for personal loans from the Credible marketplace, updated weekly. (iStock)

Borrowers with good credit seeking personal loans during the week of Sept. 6, 2021 prequalified for rates that rose for 3-year terms and fell for 5-year terms compared to the previous week’s fixed-rate

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EXCLUSIVE U.S. Treasury, financial industry discuss cryptocurrency ‘stablecoins’

WASHINGTON, Sept 10 (Reuters) – The U.S. Treasury Department met with a number of industry participants this week to quiz them about the risks and benefits posed by stablecoins — a rapidly growing type of cryptocurrencies, the value of which is pegged to traditional currencies, according to three people with direct knowledge of the meetings.

Washington policymakers are alarmed at the rapidly expanding cryptocurrency market which exceeded a record $2 trillion in April. As of Friday, the market cap of stablecoins stood at roughly $125 billion, according to industry data site CoinMarketCap. It is unclear which financial regulations apply to

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UCLA basketball sub Jaylen Clark to have his own cryptocurrency

Jaylen Clark, a UCLA basketball reserve, will be the first collegiate athlete to have his own cryptocurrency, he announced on his YouTube page Thursday.

Clark, who averaged 2.5 points per game last season for a UCLA squad that lost to Gonzaga in the Final Four, said he worked with Rally, a personal cryptocurrency company, to create $JROCK. He said he’ll market $JROCK to his more than 22,000 YouTube subscribers and 59,000 Instagram followers.

“I already trade all the time,” he told ESPN. “I’m active on my Robinhood account.”

Added Clark: “I feel like it’s a great way to educate people

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Don’t Overpay For Model 3 Or Model Y

If you’re in the market for an electric car, there’s a good chance you’re considering a Tesla Model 3, or perhaps even a Tesla Model Y. These cars aren’t cheap, and they’ll make a nice dent in your monthly budget, though you’ll save money on fuel and maintenance over a gas car. You can choose to lease them, which will bring down the monthly payment and impact your budget less. However, in the end, leasing will cost you extra.

Tesla offers all of its vehicles for purchase and for lease. Currently, its financing rate is advertised at 2.49 percent for

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