Low interest loans – Preme Kvihan http://premekvihan.net/ Wed, 01 Dec 2021 10:30:52 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://premekvihan.net/wp-content/uploads/2021/10/profile.png Low interest loans – Preme Kvihan http://premekvihan.net/ 32 32 Low interest loans are the key to growth https://premekvihan.net/low-interest-loans-are-the-key-to-growth/ Fri, 26 Nov 2021 05:19:54 +0000 https://premekvihan.net/low-interest-loans-are-the-key-to-growth/ At the official opening of the 20th Conference of Financial Institutions (COFI) hosted by the Bank of Tanzania (BoT), the President said that many countries are facing crises due to the pandemic as most of the activities economies have been crippled due to blockages to control the spread of the virus. “As a country, we […]]]>

At the official opening of the 20th Conference of Financial Institutions (COFI) hosted by the Bank of Tanzania (BoT), the President said that many countries are facing crises due to the pandemic as most of the activities economies have been crippled due to blockages to control the spread of the virus.

“As a country, we must come up with measures to save our economy which has been hit hard by the pandemic epidemic,” she said, noting that economic growth fell to 4.8% from 6, 8% over the past five years on average.

The tourism sector has been hit hard by the coronavirus lockdowns, she said, urging conference attendees to come up with recommendations that would be used by the government to facilitate stronger growth.

“May I call on financial institutions to provide long-term loans at reduced interest rates to help revitalize the economy which has been hit hard by COVID-19. The private sector is still struggling due to the lack of bank loans, ”she said.

The government has engaged with international financial institutions for debt relief and requested low-interest loans to revitalize the economy, the president said, noting that by controlling COVID-19, the government government was continuing the vaccination campaign, and many people had traveled to receive the jabs in all areas.

Finance and Planning Minister Dr Mwigulu Nchemba said more efforts are needed to revitalize the economy as steps need to be taken to regain the economic growth rate of 6.8%. Banks and financial institutions can innovate and put in place plans for young people to get loan capital, he said.

“Financial institutions must come up with alternative suggestions to allow the government to establish policies in the next fiscal year,” the minister insisted, praising the president’s efforts to save the economy, such as paying arrears to suppliers and suppliers. service providers, as well as the reimbursement of withholding taxes. arrears.

The minister stressed the need for Tanzanians to develop a culture of saving money through banks, noting that this would stimulate the economy.

Professor Florens Luoga, Governor of the Bank of Tanzania, said that at this year’s rally, financial institutions marked the 20th anniversary of the forum’s establishment in 1980, taking the opportunity to bring the rally to one minute of silence in memory of the former governor. , Teacher. Benno Ndulu.

Financial institutions have used the forum to exchange ideas on the development of the country’s economy and the financial sector itself.

“Tanzania has not been spared from the adverse effects of COVID-19 although it has chosen not to impose a lockdown,” he said, also observing that economic growth fell to 4.8 % in 2020.

Tourism sector revenues fell by more than half to $ 714.5 million last year, after a 60% drop in sightseeing tours with 620,867 tourist arrivals, he said.

Loans to the private sector decreased to 4.3% in FY2020 / 2021, compared to 8.1% of all loans in 2019/2020 linked to an increase in nonperforming loans (NPLs), he said. he adds.


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HCM City to Provide Low Interest Loans to Homeowners to Help Modernize Workers’ Pensions https://premekvihan.net/hcm-city-to-provide-low-interest-loans-to-homeowners-to-help-modernize-workers-pensions/ Fri, 26 Nov 2021 04:05:39 +0000 https://premekvihan.net/hcm-city-to-provide-low-interest-loans-to-homeowners-to-help-modernize-workers-pensions/ The HCM City Construction Department has suggested that the city provide financial assistance to homeowners to help them repair or upgrade their boarding houses where hundreds of thousands of workers live in the city. A pension for workers in HCM City. Many low-income workers live in poor quality pensions and need better housing. HCM City […]]]>

The HCM City Construction Department has suggested that the city provide financial assistance to homeowners to help them repair or upgrade their boarding houses where hundreds of thousands of workers live in the city.

A pension for workers in HCM City. Many low-income workers live in poor quality pensions and need better housing.

HCM City has 22 industrial parks and export processing zones, as well as Sai Gon High-Tech Park and Quang Trung Software Park, with around 420,000 workers. Most of them are migrants from neighboring provinces and need rental accommodation.

Many low-income workers have to rent cheap rooms built by local households and individuals, with small spaces and poor living conditions.

The department has developed an inspection plan for residential schools in the city. Its working groups will carry out inspections and classify boarding schools according to boarding standards set by the department in 2020.

Pensions must have an average space of at least five square meters per person. They should have doors and windows to maximize ventilation and absorb natural light. If a toilet is inside the bedroom, it must be separated by a partition with a sleeping area.

Based on the real situation, the groups will come up with solutions to improve the quality of guesthouses to rent for workers.

Unsanitary dwellings will be classified according to the level of violation of construction standards regarding the area, structure, natural ventilation, lighting, environment or hygiene.

The city plans to offer bank loans at preferential interest rates to homeowners to help them renovate rooms or build new rooms for workers to rent at reasonable prices.

Le Van Thanh, former head of the sociocultural research department of the City Development Research Institute, told the Tuổi Trẻ (Youth) newspaper that the city should help homeowners easily access low-interest loans. preferential interest.

In 2011, the city launched a preferential credit program for households and individuals to obtain bank loans to build or repair their boarding houses.

However, only a few homeowners participated as it is difficult to qualify for the loans.

Tax breaks and other benefits should be considered, Thanh said.

The city should also call on businesses to help improve workers’ housing.

“Companies could offer financial support to their workers to help them pay their rent. Workers must commit to renting qualified, not low-quality housing, ”he said.

Workers who receive assistance must register the address of their rental accommodation for the audit, and if the latter is in violation of the standards, companies will cut the assistance.

Pensions that do not meet the standards will not be allowed to open. Owners will be fined if they violate the requirements and could lose their business license if multiple violations are repeated.

“The city should have a roadmap and steps for implementing supportive policies, starting in areas where large numbers of workers live,” he said.

In the long term, the city government should reserve land for housing workers in areas with many factories and large production facilities, he said.

It should also simplify administrative procedures related to the construction of housing for workers and offer tax incentives for a certain period for companies that build housing for workers.

Source: Vietnam News

HCM City seeks ways to help laid-off workers and poor survive pandemic

HCM City seeks ways to help laid-off workers and poor survive pandemic

Financial assistance programs and the free provision of rice and other essentials are among the many initiatives taken by the government and charities to help workers affected by the COVID-19 pandemic.

Landlords lower rents to help unemployed people

Landlords lower rents to help unemployed people

Landlords in many localities have reduced or exempted rents for tenants who lost their jobs or experienced financial hardship due to the COVID-19 pandemic.


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DEP provides $ 45 million in low-interest loans for dam safety and flood mitigation projects that improve climate resilience (21 / P037) https://premekvihan.net/dep-provides-45-million-in-low-interest-loans-for-dam-safety-and-flood-mitigation-projects-that-improve-climate-resilience-21-p037/ Fri, 19 Nov 2021 00:45:00 +0000 https://premekvihan.net/dep-provides-45-million-in-low-interest-loans-for-dam-safety-and-flood-mitigation-projects-that-improve-climate-resilience-21-p037/ (21 / P037) TRENTON – With New Jersey facing unprecedented threats of flooding and severe weather from climate change, the Murphy administration is making $ 45 million in low-interest loans available to county and local governments. municipalities as well as private dam owners for projects that will properly ensure these structures protect lives and property […]]]>

(21 / P037) TRENTON – With New Jersey facing unprecedented threats of flooding and severe weather from climate change, the Murphy administration is making $ 45 million in low-interest loans available to county and local governments. municipalities as well as private dam owners for projects that will properly ensure these structures protect lives and property by complying with strict state dam safety standards.

The state is making $ 40 million in funding for dam rehabilitation projects under the state dam restoration loan program. An additional $ 5 million is provided through the Inland Waters Loan Program, which funds flood mitigation projects such as dredging and river restoration.

“New Jersey is committed to becoming more resilient in the face of unprecedented challenges of more frequent and intense weather and flooding,” said Environmental Protection Commissioner Shawn M. LaTourette. “This funding will allow owners of private and municipal dams to undertake environmental infrastructure projects that provide greater spillway capacity that is critical to public safety, especially as precipitation continues to become more severe due to of our changing climate. ”

To be eligible, a project must be undertaken by a county or municipal government or related agency. Private dam owner projects are required to have a county or municipal government agreeing to be a co-applicant. The deadline for applications is December 30. For more information on loan applications and the DEP Dam Safety Office, visit www.nj.gov/dep/damsafety/

In New Jersey, most dams were built for recreation and / or water supply. Few are built strictly for flood control. It is the responsibility of dam owners to ensure that they are maintained and operated safely, in accordance with state standards. The loans made available now are intended to help owners of dams classified as “fair” or “poor” and in need of structural safety improvements.

New Jersey is one of the few states that provides funds for dam upgrading and maintenance through periodic surety bonds that ensure a stable source of funding for these types of projects. Over the decades, DEP has provided nearly $ 180 million in funding under the two bond programs. The last round of funding took place in 2017.

The provision requiring county or municipal governments to be a co-applicant for private projects allows the respective governing body to levy taxes on the owners if the owner of the dam does not repay the loan. Loans are made available periodically as funding becomes available as previous loans are repaid.

New Jersey rates dams based on the potential for property damage and / or loss of life if the dam ruptures:

  • Class I (high risk): Failure can result in death and / or significant material damage.
  • Class II (significant risk): failure can cause significant material damage, but no loss of life is expected.
  • Class III and smaller Class IV (low risk): Failure is not expected to result in loss of life or significant property damage.

In addition, DEP has the following rating system for current dam safety conditions:

  • Satisfactory: No existing or potential shortcomings in dam safety are recognized. Acceptable performance is expected under all applicable loading conditions (static, hydrological, seismic) in accordance with applicable regulatory criteria. Minor maintenance items may be required.
  • Fair: acceptable performance is expected under all required loading conditions (static, hydrological, seismic) in accordance with applicable dam safety regulatory criteria. Minor deficiencies may exist which require corrective action and / or secondary studies or investigations.
  • Bad: A dam safety fault is recognized for any required load condition (static, hydrological, seismic) in accordance with the applicable dam safety regulatory criteria. Corrective action is needed. Bad also applies when further studies or critical investigations are needed to identify any potential failure in dam safety.
  • Unsatisfactory: considered dangerous. A dam safety fault is recognized and requires immediate or emergency corrective action to resolve the problem. Tank restrictions may be necessary.

The DEP requires that high and significant risk dams be inspected every two years – annually for larger dams – and that measures be taken to ensure their safety. Upgrading them to current design standards typically requires a combination of spillway modifications and / or raising or “shielding” the earth embankments that typically line spillways. Shielding may include placing roller compacted concrete or pouring concrete to ensure that the backfill does not wash away and collapse if overflowed.

For more information on the state’s actions to address climate change, including the state’s first climate change resilience strategy and the first science-based report on climate change, visit www.nj.gov / dep / climatechange /

Follow Commissioner LaTourette on Twitter and Instagram @shawnlatur and follow DEP on Twitter @NewJerseyDEP

Photo DEP / Rehabilitation of the Solitude Lake Dam, 2012, High Bridge


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Citrus County Flood Victims Can Apply for Low Interest Loans | Local News https://premekvihan.net/citrus-county-flood-victims-can-apply-for-low-interest-loans-local-news/ Thu, 18 Nov 2021 16:27:00 +0000 https://premekvihan.net/citrus-county-flood-victims-can-apply-for-low-interest-loans-local-news/ Businesses and residents of Citrus County affected by severe storms and floods from September 15 to 19 can now apply for low-interest disaster loans from the United States Small Business Administration (SBA). A state disaster declaration makes loans available for Citrus, Hernando, Levy, Marion and Sumter counties. From January to October, the county received an […]]]>

Businesses and residents of Citrus County affected by severe storms and floods from September 15 to 19 can now apply for low-interest disaster loans from the United States Small Business Administration (SBA).

A state disaster declaration makes loans available for Citrus, Hernando, Levy, Marion and Sumter counties.

From January to October, the county received an average of 66 inches of rain. And during the summer months (June through September), it recorded 49 inches, an all-time record for the rainy season, according to the Southwest Florida Water Management District.

Get more from the Citrus County Chronicle

In September, county commissioners got the ball rolling on these loans by adopting a local declaration of emergency to help residents rebuild their homes damaged by flooding.

Dozens of homeowners appealed to the commissioners at that meeting for relief. Besides the loan program, the board said its hands are tied.

“Businesses and private non-profit organizations can borrow up to $ 2 million to repair or replace real estate, machinery and equipment, inventory and other commercial property damaged or destroyed by a disaster,” said Jon Richards, SBA’s North Florida District Director.

Loans of up to $ 200,000 are available for homeowners to repair or replace damaged or destroyed real estate, said Kem Fleming, director of the SBA’s Field Operations Center East in Atlanta.

“Homeowners and tenants are eligible for loans of up to $ 40,000 to repair or replace damaged or destroyed personal property,” Fleming said.

The SBA will be opening an outreach center for disaster loans at noon on November 29 at the Citrus County Canning Center, 3405 W. Southern St. in Lecanto. This office will close permanently at 4 p.m. on Thursday, December 9.

Here are the hours: 9 a.m. to 6 p.m. Monday to Friday; 10 a.m. to 2 p.m. Saturday, December 4.

Disaster loan information and application forms can also be obtained by calling the SBA client Service Center at (800-659-2955) or by sending an email to DisasterCustomerService@sba.gov.


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DEP provides $ 45 million in low-interest loans for dam safety and flood mitigation projects that improve climate resilience https://premekvihan.net/dep-provides-45-million-in-low-interest-loans-for-dam-safety-and-flood-mitigation-projects-that-improve-climate-resilience-2/ Mon, 15 Nov 2021 20:24:00 +0000 https://premekvihan.net/dep-provides-45-million-in-low-interest-loans-for-dam-safety-and-flood-mitigation-projects-that-improve-climate-resilience-2/ (21 / P037) TRENTON – With New Jersey facing unprecedented threats of flooding and severe weather from climate change, the Murphy administration is making $ 45 million in low-interest loans available to county and local governments. municipalities as well as private dam owners for projects that will properly ensure these structures protect lives and property […]]]>

(21 / P037) TRENTON – With New Jersey facing unprecedented threats of flooding and severe weather from climate change, the Murphy administration is making $ 45 million in low-interest loans available to county and local governments. municipalities as well as private dam owners for projects that will properly ensure these structures protect lives and property by complying with strict state dam safety standards.

The state is making $ 40 million in funding for dam rehabilitation projects under the state dam restoration loan program. An additional $ 5 million is provided through the Inland Waters Loan Program, which funds flood mitigation projects such as dredging and river restoration.

“New Jersey is committed to becoming more resilient in the face of unprecedented challenges of more frequent and intense weather and flooding,” said Environmental Protection Commissioner Shawn M. LaTourette. “This funding will allow owners of private and municipal dams to undertake environmental infrastructure projects that provide greater spillway capacity that is critical to public safety, especially as precipitation continues to become more severe due to of our changing climate. ”

To be eligible, a project must be undertaken by a county or municipal government or related agency. Private dam owner projects are required to have a county or municipal government agreeing to be a co-applicant. The deadline for applications is December 30. For more information on loan applications and the DEP Dam Safety Office, visit www.nj.gov/dep/damsafety/

In New Jersey, most dams were built for recreation and / or water supply. Few are built strictly for flood control. It is the responsibility of dam owners to ensure that they are maintained and operated safely, in accordance with state standards. The loans made available now are intended to help owners of dams classified as “fair” or “poor” and in need of structural safety improvements.

New Jersey is one of the few states that provides funds for dam upgrading and maintenance through periodic surety bonds that ensure a stable source of funding for these types of projects. Over the decades, DEP has provided nearly $ 180 million in funding under the two bond programs. The last round of funding took place in 2017.

The provision requiring county or municipal governments to be a co-applicant for private projects allows the respective governing body to levy taxes on the owners if the owner of the dam does not repay the loan. Loans are made available periodically as funding becomes available as previous loans are repaid.

New Jersey rates dams based on the potential for property damage and / or loss of life if the dam ruptures:

  • Class I (high risk): Failure can result in death and / or significant material damage.
  • Class II (significant risk): failure can cause significant material damage, but no loss of life is expected.
  • Class III and smaller Class IV (low risk): Failure is not expected to result in loss of life or significant property damage.

In addition, DEP has the following rating system for current dam safety conditions:

  • Satisfactory: No existing or potential shortcomings in dam safety are recognized. Acceptable performance is expected under all applicable loading conditions (static, hydrological, seismic) in accordance with applicable regulatory criteria. Minor maintenance items may be required.
  • Fair: acceptable performance is expected under all required loading conditions (static, hydrological, seismic) in accordance with applicable dam safety regulatory criteria. Minor deficiencies may exist which require corrective action and / or secondary studies or investigations.
  • Bad: A dam safety fault is recognized for any required load condition (static, hydrological, seismic) in accordance with the applicable dam safety regulatory criteria. Corrective action is needed. Bad also applies when further studies or critical investigations are needed to identify any potential failure in dam safety.
  • Unsatisfactory: considered dangerous. A dam safety fault is recognized and requires immediate or emergency corrective action to resolve the problem. Tank restrictions may be necessary.

The DEP requires that high and significant risk dams be inspected every two years – annually for larger dams – and that measures be taken to ensure their safety. Upgrading them to current design standards typically requires a combination of spillway modifications and / or raising or “shielding” the earthworks that typically line spillways. Shielding may include placing roller compacted concrete or pouring concrete to ensure that the backfill does not wash away and collapse if overflowed.

For more information on the state’s actions to address climate change, including the state’s first climate change resilience strategy and the first science-based report on climate change, visit www.nj.gov / dep / climatechange /

Follow Commissioner LaTourette on Twitter and Instagram @shawnlatur and follow DEP on Twitter @NewJerseyDEP

Photo DEP / Rehabilitation of the Solitude Lake Dam, 2012, High Bridge


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DEP provides $ 45 million in low-interest loans for dam safety and flood mitigation projects that improve climate resilience https://premekvihan.net/dep-provides-45-million-in-low-interest-loans-for-dam-safety-and-flood-mitigation-projects-that-improve-climate-resilience/ Mon, 15 Nov 2021 20:24:00 +0000 https://premekvihan.net/dep-provides-45-million-in-low-interest-loans-for-dam-safety-and-flood-mitigation-projects-that-improve-climate-resilience/ (21 / P037) TRENTON – With New Jersey facing unprecedented threats of flooding and severe weather from climate change, the Murphy administration is making $ 45 million in low-interest loans available to county and local governments. municipalities as well as private dam owners for projects that will properly ensure these structures protect lives and property […]]]>

(21 / P037) TRENTON – With New Jersey facing unprecedented threats of flooding and severe weather from climate change, the Murphy administration is making $ 45 million in low-interest loans available to county and local governments. municipalities as well as private dam owners for projects that will properly ensure these structures protect lives and property by complying with strict state dam safety standards.

The state is making $ 40 million in funding for dam rehabilitation projects under the state dam restoration loan program. An additional $ 5 million is provided through the Inland Waters Loan Program, which funds flood mitigation projects such as dredging and river restoration.

“New Jersey is committed to becoming more resilient in the face of unprecedented challenges of more frequent and intense weather and flooding,” said Environmental Protection Commissioner Shawn M. LaTourette. “This funding will allow owners of private and municipal dams to undertake environmental infrastructure projects that provide greater spillway capacity that is critical to public safety, especially as precipitation continues to become more severe due to of our changing climate. ”

To be eligible, a project must be undertaken by a county or municipal government or related agency. Private dam owner projects are required to have a county or municipal government agreeing to be a co-applicant. The deadline for applications is December 30. For more information on loan applications and the DEP Dam Safety Office, visit www.nj.gov/dep/damsafety/

In New Jersey, most dams were built for recreation and / or water supply. Few are built strictly for flood control. It is the responsibility of dam owners to ensure that they are maintained and operated safely, in accordance with state standards. The loans made available now are intended to help owners of dams classified as “fair” or “poor” and in need of structural safety improvements.

New Jersey is one of the few states that provides funds for dam upgrading and maintenance through periodic surety bonds that ensure a stable source of funding for these types of projects. Over the decades, DEP has provided nearly $ 180 million in funding under the two bond programs. The last round of funding took place in 2017.

The provision requiring county or municipal governments to be a co-applicant for private projects allows the respective governing body to levy taxes on the owners if the owner of the dam does not repay the loan. Loans are made available periodically as funding becomes available as previous loans are repaid.

New Jersey rates dams based on the potential for property damage and / or loss of life if the dam ruptures:

  • Class I (high risk): Failure can result in death and / or significant material damage.
  • Class II (significant risk): failure can cause significant material damage, but no loss of life is expected.
  • Class III and smaller Class IV (low risk): Failure is not expected to result in loss of life or significant property damage.

In addition, DEP has the following rating system for current dam safety conditions:

  • Satisfactory: No existing or potential shortcomings in dam safety are recognized. Acceptable performance is expected under all applicable loading conditions (static, hydrological, seismic) in accordance with applicable regulatory criteria. Minor maintenance items may be required.
  • Fair: acceptable performance is expected under all required loading conditions (static, hydrological, seismic) in accordance with applicable dam safety regulatory criteria. Minor deficiencies may exist which require corrective action and / or secondary studies or investigations.
  • Bad: A dam safety fault is recognized for any required load condition (static, hydrological, seismic) in accordance with the applicable dam safety regulatory criteria. Corrective action is needed. Bad also applies when further studies or critical investigations are needed to identify any potential failure in dam safety.
  • Unsatisfactory: considered dangerous. A dam safety fault is recognized and requires immediate or emergency corrective action to resolve the problem. Tank restrictions may be necessary.

The DEP requires that high and significant risk dams be inspected every two years – annually for larger dams – and that measures be taken to ensure their safety. Upgrading them to current design standards typically requires a combination of spillway modifications and / or raising or “shielding” the earthworks that typically line spillways. Shielding may include placing roller compacted concrete or pouring concrete to ensure that the backfill does not wash away and collapse if overflowed.

For more information on the state’s actions to address climate change, including the state’s first climate change resilience strategy and the first science-based report on climate change, visit www.nj.gov / dep / climatechange /

Follow Commissioner LaTourette on Twitter and Instagram @shawnlatur and follow DEP on Twitter @NewJerseyDEP

Photo DEP / Rehabilitation of the Solitude Lake Dam, 2012, High Bridge


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How rich people use art, yachts as collateral for low interest loans https://premekvihan.net/how-rich-people-use-art-yachts-as-collateral-for-low-interest-loans/ https://premekvihan.net/how-rich-people-use-art-yachts-as-collateral-for-low-interest-loans/#respond Mon, 08 Nov 2021 08:29:21 +0000 https://premekvihan.net/how-rich-people-use-art-yachts-as-collateral-for-low-interest-loans/ Customers of private banks can borrow against art, yachts and jets, to buy more luxury or to invest. Banks keep a watchful eye on their collateral with annual inspections and maintenance schedules. JPMorgan’s loan officer told Insider how these loans work and what the rich are using them for. The rich can use their wealth […]]]>
  • Customers of private banks can borrow against art, yachts and jets, to buy more luxury or to invest.
  • Banks keep a watchful eye on their collateral with annual inspections and maintenance schedules.
  • JPMorgan’s loan officer told Insider how these loans work and what the rich are using them for.

The rich can use their wealth to finance their passions, and vice versa.

Clients of private banks take out loans against their artwork, yachts, jets, and even participation in a sports team. Whether they use the product to expand their collections or invest in private equity is up to them. It’s also cheaper than selling stocks and hiring


capital gains

taxes, which can total nearly 40% for top earners in high-tax states like California.

The beauty of loans against art and other luxuries is that customers can still benefit from them during the loan. JPMorgan’s private bank allows customers to keep works of art in their homes or, with the bank’s permission, loan pieces to museums.

“These are illiquid assets that you couldn’t do anything with otherwise,” Vince La Padula, global head of loans, deposits and custody at JPMorgan, told Insider. “It’s great that you own it and it’s beautiful and show it off to your friends, but it’s an asset that stays there, and the question is whether you can use the product for something else. “

Loans to the rich are a growth pole for banks. Art lending is a relatively small slice of the pie, but the segment is large and growing. Deloitte estimates that banks’ combined art loan portfolios will reach between $ 20.7 billion and $ 23 billion this year and grow 9.4% next year.

JPMorgan’s exposure to the fine art market is around $ 5 billion, according to La Padula. Some of the most popular artists among their loan portfolio are Picasso, Renoir, Matisse, Cy Twombley, and Lichtenstein.

Banks go to great lengths to protect their collateral

JPMorgan generally requires customers to use at least five works of art as collateral. Loans require third-party appraisal, personal collateral, and home inspections to ensure parts are properly secured and preserved. Loans are usually for one year but can be renewed after another inspection.

“The inspections on the art each year are important,” said La Padula. “Are there any imperfections? Do you put it in a temperature-controlled room? This is all extremely important when you have a $ 100 million coin and I’m managing $ 50 million on it.”

The loan-to-value ratio on art is typically 50-60%, lower than that of titles, which ranges from 70-80%, according to La Padula.

And while it’s faster to get lines of credit on titles, which can also be approved in as little as two days, lending against artwork is a way to profit from an inactive asset with little money. impact for the owner. If you borrow from your wallets, you can usually trade in your accounts, but the transfer of cash or securities must be approved by the lender.

The use of yachts and jets as collateral requires similar inspections. Airplanes have a higher loan-to-value ratio than yachts because they are much easier to sell. Unloading a yacht takes a year to 14 months, depending on La Padula’s experience. Sometimes he asks clients to agree that if the loan is not repaid, the bank is allowed to rent the yacht, as this makes it easier to find a potential buyer.

Lending against assets like fine art and jets isn’t a priority in and of itself, according to La Padula, but rather a way to help these longtime clients get


liquidity

invest in other assets, be it real estate or private equity.

“I don’t want to own the Marlins or the Jaguars. I want to work with the individual,” he said. “It’s part of a puzzle.”

Loans can be used to invest in anything from private equity to real estate

Many clients borrow against their art in order to expand their collections, but these loans are also used to diversify their assets. Lending – against all types of assets – to invest in commercial real estate has become particularly popular, according to La Padula.

Despite headlines stating that working from home has killed the office market, commercial real estate investment has actually surpassed pre-pandemic levels. In the first nine months of 2021, commercial real estate transactions reached $ 462.1 billion, up 10% from the same period in 2019, according to Real Capital Analytics.

“Customers who think long term ask if they can buy the dip,” La Padula said. “Is there an asset that is undervalued? While the buildings were closed, we had clients looking at these assets in New York and LA.”

In the past five to six weeks, properties in Austin, Miami, Fort. Lauderdale, Phoenix and Scottsdale were the most requested by his customers, and New York will always be “a pretty hot market,” he said.

Since JPMorgan already has detailed information on these private banking clients, including their liquidity, cash flow and charitable obligations, loans to purchase commercial real estate can be approved in about a week.

“If you are buying a troubled property or want to buy an apartment, speed is the most important thing in this market,” he said. “You want to have capital ready to be deployed.”


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Oregon Offers $ 2 Million In Low Interest Loans To Fix Failing Septic Tanks https://premekvihan.net/oregon-offers-2-million-in-low-interest-loans-to-fix-failing-septic-tanks/ https://premekvihan.net/oregon-offers-2-million-in-low-interest-loans-to-fix-failing-septic-tanks/#respond Thu, 04 Nov 2021 18:57:07 +0000 https://premekvihan.net/oregon-offers-2-million-in-low-interest-loans-to-fix-failing-septic-tanks/ Oregon offers $ 2 million in low-interest loans to homeowners and small businesses to repair or replace failing septic systems. Defective septic systems can cause wastewater to rise to the ground or flow into waterways, creating risks to public health and harming natural resources. For the local stories that matter, subscribe today. The Oregon Legislature […]]]>

Oregon offers $ 2 million in low-interest loans to homeowners and small businesses to repair or replace failing septic systems.

Defective septic systems can cause wastewater to rise to the ground or flow into waterways, creating risks to public health and harming natural resources.

For the local stories that matter, subscribe today.

The Oregon Legislature created the loan program in 2016, but funding ran out in June 2020. The Legislature approved the new funding earlier this year.

“By supporting those who struggle to fix failing septic systems, we can not only prevent damage to homes and property, but also improve public health outcomes for all Oregon residents,” the representative said. ‘Oregon, Ken Helm, D-Beaverton, in press release.

The Oregon Department of Environmental Quality partnered with nonprofit lender Craft3 to administer the loans. She has just reopened loan applications.

DEQ estimates that of the 450,000 septic systems used in Oregon, 10-20% fail each year.

Safe water: Salem’s drinking water meets federal standards, but could be safer, says nonprofit group

The loans cover all eligible costs for licensing, design and installation, and also provide for ongoing maintenance when needed. The loans have variable low rates depending on the borrowers’ income and are available to borrowers who may not have perfect credit.

They are available for homeowners and small businesses that use septic systems, such as restaurants, convenience stores, and small manufactured homes or RV parks.

Before the program was suspended, it provided more than $ 3.6 million in loans to 187 Oregon residents and small businesses to upgrade or install septic systems.

Loan recipients were in 92 cities and 28 of Oregon’s 36 counties.

To learn more about the program or to apply, visit Craft3.org/CleanWaterOre.

Tracy Loew is a reporter for the Statesman Journal. She can be reached at tloew@statesmanjournal.com, 503-399-6779 or on Twitter at @Tracy_Loew. Support local journalism by subscribing to the Statesman Journal.

This article originally appeared in the Salem Statesman Journal: Oregon Offers $ 2 Million In Loans To Fix Failing Septic Tanks



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New low-interest loans to growing businesses in Erie and Lebanon counties https://premekvihan.net/new-low-interest-loans-to-growing-businesses-in-erie-and-lebanon-counties/ https://premekvihan.net/new-low-interest-loans-to-growing-businesses-in-erie-and-lebanon-counties/#respond Wed, 03 Nov 2021 14:57:55 +0000 https://premekvihan.net/new-low-interest-loans-to-growing-businesses-in-erie-and-lebanon-counties/ Press Release, Workforce Development Governor Tom Wolf today announced that the Pennsylvania Industrial Development Authority (PIDA) has approved low-interest loans for two companies, located in Erie and Lebanon counties, to help them develop their operations, to better serve their customers and to create and maintain jobs. “Today’s funding is invaluable in helping these two companies […]]]>

Governor Tom Wolf today announced that the Pennsylvania Industrial Development Authority (PIDA) has approved low-interest loans for two companies, located in Erie and Lebanon counties, to help them develop their operations, to better serve their customers and to create and maintain jobs.

“Today’s funding is invaluable in helping these two companies in their next steps to improve their operations and better serve customers,” Governor Wolf said. “PIDA’s affordable loans play a vital role in helping Pennsylvania businesses grow and succeed, helping our economy grow, and creating new jobs and opportunities in surrounding communities. “

In 2021, PIDA approved $ 42,055,382 in low-interest loans that generated $ 97,518,330 in private investment and supported 1,718 jobs created and retained full-time.

The approved projects are as follows:

Erie County
Scott’s Bayfront Hotel, LLC, through the Northwest Pennsylvania Regional Planning and Development Commission, has been approved for a $ 200,000 seven-year loan at a 1.5 percent reset rate for construction and renovation an open-air restaurant and entertainment venue known as Oliver’s Beer. Garden located in Erie City, Erie County. The renovations include site layout, paving, landscaping, outdoor pavilion, fireplaces, tiling, plumbing and electrical work. The total cost of the project is $ 803,647 and the company will retain 55 full-time employees as a result of this project.

Lebanon County
Sterling Machine Technologies, Inc., through the Lebanon Valley Economic Development Corporation, has received approval for a 13-year, $ 400,000 loan at a 2.5% fixed rate to help build a ‘a 3,500 square foot building, purchase used equipment and upgrade existing equipment at their facilities in the Township of South Londonderry. The company is currently renting a facility in Lebanon for its welding department, which creates many logistical problems. Sterling Machine Technologies will address this issue with the construction of the new building on its Palmyra property to consolidate operations on one site. The company will also purchase a used Mazak Model E-650H lathe to resolve lag issues. In addition, the company plans to upgrade one of its most strategic machines, which is currently inoperable due to necessary repairs. The total cost of the project is $ 808,947 and Sterling Machine Technologies has committed to retaining 36 current positions and creating two new full-time jobs within three years.

For more information on the Pennsylvania Industrial Development Authority and other DCED initiatives, visit dced.pa.gov.


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Hogan announces low interest loans available for those affected by Hurricane Ida – CBS Baltimore https://premekvihan.net/hogan-announces-low-interest-loans-available-for-those-affected-by-hurricane-ida-cbs-baltimore/ Tue, 19 Oct 2021 07:00:00 +0000 https://premekvihan.net/hogan-announces-low-interest-loans-available-for-those-affected-by-hurricane-ida-cbs-baltimore/ ANNAPOLIS, Maryland (WJZ) – Governor Larry Hogan on Monday announced federal approval of a disaster declaration that will make low-interest loans available to businesses, nonprofits and homeowners affected by Hurricane Ida. The remnants of Hurricane Ida spawned two confirmed tornadoes over Anne Arundel County that caused extensive damage to homes and businesses. Torrential rains caused […]]]>


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