Low interest loans – Preme Kvihan http://premekvihan.net/ Fri, 23 Sep 2022 12:52:48 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://premekvihan.net/wp-content/uploads/2021/10/profile.png Low interest loans – Preme Kvihan http://premekvihan.net/ 32 32 BB and Agrani Bank sign agreement to provide low-interest loans to movie theater owners https://premekvihan.net/bb-and-agrani-bank-sign-agreement-to-provide-low-interest-loans-to-movie-theater-owners/ Thu, 22 Sep 2022 14:30:00 +0000 https://premekvihan.net/bb-and-agrani-bank-sign-agreement-to-provide-low-interest-loans-to-movie-theater-owners/ Under the leadership of Prime Minister Sheikh Hasina, a Tk 1,000 crore refinancing scheme by Bangladesh Bank is being undertaken to provide low interest long term loans/investments to movie theater owners for renovation and the modernization of existing cinemas and the construction of new cinemas. with a view to reviving the lost heritage of the […]]]>

Under the leadership of Prime Minister Sheikh Hasina, a Tk 1,000 crore refinancing scheme by Bangladesh Bank is being undertaken to provide low interest long term loans/investments to movie theater owners for renovation and the modernization of existing cinemas and the construction of new cinemas. with a view to reviving the lost heritage of the national film industry.

A Memorandum of Understanding was signed between Agrani Bank Ltd and Bangladesh Bank on Wednesday September 21 at the boardroom of Bangladesh Bank to carry out lending activities under the said scheme.

The agreement was signed by Md Murshedul Kabir, Managing Director and CEO of Agrani Bank Limited and Md Abdul Mannan, Director of Offsite Surveillance (DOS) Department on behalf of Bangladesh Bank, reads a press release.

Deputy Governor of Bangladesh Bank AKM Sajedur Rahman Khan, Executive Director and Observer of Agrani Bank Awlad Hossain Chowdhury, Managing Director (Credit) of Agrani Bank Limited Dr Md Abdullah Al Mamun and Chief Deputy Managing Director of the Credit Policy Division Md Abu Hasan Talukder were present at the signing ceremony.

Also, co-manager of respective department of Bangladesh Bank, Md Lutful Haider Pasha, co-manager SM Khaled Abdullah, senior manager of Agrani Bank. Farid Ahmed and other officials from both sides were also present.

It should be noted that under this scheme, owners can take out loans at an interest rate of only 4.50% for the renovation, modernization and construction of new cineplexes in existing cinemas.

They will get loan facility up to a maximum of Tk5 crore for renovation or upgrading of the existing and up to a maximum of Tk10 crore for the construction of a new cineplex.

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Navigant and RI Hispanic Chamber offer low-interest loans to Latinx small businesses https://premekvihan.net/navigant-and-ri-hispanic-chamber-offer-low-interest-loans-to-latinx-small-businesses/ Tue, 20 Sep 2022 02:45:37 +0000 https://premekvihan.net/navigant-and-ri-hispanic-chamber-offer-low-interest-loans-to-latinx-small-businesses/ NAVIGANT CREDIT UNION, the Hispanic Chamber of Commerce of Rhode Island and Papitto Opportunity Connection on Monday announced a new low-interest loan program for Latinx small business owners who may have difficulty obtaining traditional bank loans. Pictured from left to right: Oscar Mejias, CEO of the Chamber; loan recipient Marjorie Ortiz, owner of Marjorie Beauty […]]]>
NAVIGANT CREDIT UNION, the Hispanic Chamber of Commerce of Rhode Island and Papitto Opportunity Connection on Monday announced a new low-interest loan program for Latinx small business owners who may have difficulty obtaining traditional bank loans. Pictured from left to right: Oscar Mejias, CEO of the Chamber; loan recipient Marjorie Ortiz, owner of Marjorie Beauty Studio; Kathleen Orovitz, CEO-elect of Navigant; John Tarantino, managing director of Papitto; and loan recipients Carmen Rodriguez, owner of Lunita House, and Glenda Pagan, owner of Key Treats. / COURTESY OF PERRY GROUP

PROVIDENCE — The state’s largest credit union has partnered with a Hispanic business services group to try to help Latinx small business owners get bank loans.

Navigant Credit Union, the Hispanic Chamber of Commerce of Rhode Island and Papitto Opportunity Connection gathered Monday for an event to announce the launch of the Building Bankable Business Loan Program. The “non-traditional” loan program provides Latinx small business owners and entrepreneurs with access to capital to start or grow their business, recognizing that this group often struggles to obtain traditional bank financing.

Navigant, as a lender, will provide loans of $500 to $5,000 to qualifying startups or small businesses, which can be used as working capital, for gap financing, leasehold improvements, acquisition of land and buildings, refinancing debt and purchasing equipment, among other uses.

Papitto Opportunity Connection will provide $150,000 per year for three years to serve as collateral on all loans approved under the program, while the Chamber will administer the program, said Oscar Mejias, CEO of the Hispanic Chamber.

The program also includes access to business and financial training and technical assistance.

Mejias pointed out that the loan program not only provides recipients with immediate capital, but also helps them develop long-term banking relationships that can help them secure larger loans later.

“We create a credit score for this business and we create a history with a financial institution,” Mejias said.

Latino and Black-owned businesses are statistically less likely to be approved for bank loans or have relationships with traditional financial institutions compared to White-owned businesses.

Although program officials announced the launch on Monday, the program started informally in the spring and has already issued 26 loans to small and micro businesses, Mejias said. He estimated that the program will help at least 150 businesses depending on the funding available.

The loans are capped at an interest rate of 1% and repayable within five years. Businesses must be Latino-owned with fewer than 10 employees and less than $20,000 in annual revenue to be eligible.

For more information or to apply, contact the Rhode Island Hispanic Chamber of Commerce at 401-400-1340 or visit rihispanicchamber.org.

Nancy Lavin is a staff writer for PBN. You can reach her at Lavin@PBN.com.

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Low Interest Loans Available – Hometown Focus https://premekvihan.net/low-interest-loans-available-hometown-focus/ Fri, 16 Sep 2022 16:13:49 +0000 https://premekvihan.net/low-interest-loans-available-hometown-focus/ REGIONAL – Minnesota businesses and residents affected by flooding from April 22 to June 15, 2022 can apply for low-interest disaster loans from the U.S. Small Business Administration, the administrator of the SBA, Isabella Casillas Guzman, September 8. Administrator Guzman made the loans available in response to a letter from Minnesota Governor Tim Walz dated […]]]>

REGIONAL – Minnesota businesses and residents affected by flooding from April 22 to June 15, 2022 can apply for low-interest disaster loans from the U.S. Small Business Administration, the administrator of the SBA, Isabella Casillas Guzman, September 8.

Administrator Guzman made the loans available in response to a letter from Minnesota Governor Tim Walz dated Sept. 1, requesting a disaster declaration by the SBA. Businesses and residents in the declared area can now apply for low-interest disaster loans from the SBA. The statement covers Koochiching County and the adjacent counties of Beltrami, Itasca, Lake of the Woods and St. Louis.

“The SBA is firmly committed to providing the people of Minnesota with the most efficient and customer-focused response possible to help businesses of all sizes, homeowners and tenants with federal disaster loans,” Guzman said. “Getting businesses and communities back up and running after a disaster is our top priority at SBA.”

To help businesses and residents affected by the disaster, the SBA opened a Disaster Loan Outreach Center (DLOC) on September 10 at 360 Hwy. 11 E., international falls. The DLOC is open Monday through Friday from 8 a.m. to 5 p.m. and Saturday from 10 a.m. to 2 p.m. The center is closed on Sundays and will permanently close at 4 p.m. on September 22.

Customer service representatives will be available at DLOC to answer questions about the disaster loan program and assist individuals with their applications. Due to the ongoing COVID-19 pandemic, the SBA has established protocols to help protect public health and safety. All DLOC visitors are encouraged to wear a face mask.

“Businesses and private non-profit organizations can borrow up to $2 million to repair or replace real estate, machinery and equipment, inventory and other assets damaged or destroyed by a disaster,” Brian McDonald said. , District Director of SBA Minnesota.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations, the SBA offers Economic Disaster Loans (EIDLs) to help meet capital needs. turnover caused by the disaster. Economic disaster loan assistance is available whether or not the business has suffered property damage.

“Loans of up to $200,000 are available to homeowners to repair or replace damaged or destroyed property. Homeowners and tenants are eligible for loans of up to $40,000 to repair or replace damaged or destroyed personal property,” said Kem Fleming, director of SBA’s Field Operations Center East in Atlanta.

Applicants may be eligible for an increase in the loan amount of up to 20% of their physical damage, as verified by the SBA for mitigation purposes. Eligible mitigation upgrades may include a safe room or storm shelter, sump pump, French drain, or retaining wall to help protect property and occupants from future damage from a similar disaster.

Interest rates are as low as 2.94% for businesses, 1.875% for nonprofits, and 1.438% for homeowners and tenants, with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial situation.

Applicants can apply online using the Electronic Loan Application (ELA) through the SBA’s secure website at www.disasterloanassistance. sba.gov/ela/s and must apply under SBA #17612.

Disaster loan information and application forms can also be obtained by calling the SBA Customer Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech impediment , dial 7-1-1 to access Telecom Relay Services ) or by emailing Disaster Customer Service@ sba.gov. Loan applications can also be downloaded from www.sba. government/disaster.

Completed applications should be mailed to: US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Rd., Fort Worth, TX 76155.

The deadline for filing property damage return claims is November 7, 2022. The deadline for returning economic injury claims is June 7, 2023.

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MFIs Accept Low Interest Relocation Loans in Run Ta Ek Area https://premekvihan.net/mfis-accept-low-interest-relocation-loans-in-run-ta-ek-area/ Thu, 15 Sep 2022 03:35:58 +0000 https://premekvihan.net/mfis-accept-low-interest-relocation-loans-in-run-ta-ek-area/ An aerial view of the Run Ta Ek area, where around 6,000 households living in or near the Angkor Archaeological Park are expected to relocate, as seen on September 13. The area is located in the commune of the same name in Banteay Srei, province of Siem Reap district. MPS The Cambodian Microfinance Association (CMA) […]]]>

An aerial view of the Run Ta Ek area, where around 6,000 households living in or near the Angkor Archaeological Park are expected to relocate, as seen on September 13. The area is located in the commune of the same name in Banteay Srei, province of Siem Reap district. MPS

The Cambodian Microfinance Association (CMA) has agreed to provide loans with below-market interest rates to residents of UNESCO lands around the Angkor temples in Siem Reap province who voluntarily relocate in the Run Ta Ek area about 20 km northeast of Angkor Wat.

This follows a request by Prime Minister Hun Sen on September 13 asking microfinance institutions (MFIs) to offer such loans, potentially with additional favorable terms, to those who have settled in the area, in the commune of Run Ta Ek from Banteay Srei district. .

The CMA said in a September 14 press release that it “would like to encourage all members of the association operating [nearby] facilitate the provision of new loans on convenient and favorable terms to people who have settled in the Run Ta Ek eco-village at the request of the Royal Government.

“This gesture is the participation of the microfinance sector with the Royal Government in the [interest of maintenance] and the conservation of the Angkor Archaeological Park, a World Heritage Site,” he said.

CMA President Sok Voeun said his association held a meeting with members at the request of the prime minister. “All of our members have accepted the Prime Minister’s request to provide loans at below market interest rates and on reasonable terms to the residents of Run Ta Ek Eco-Village.

“But we will assess the amount of the loan based on the actual repayment capacity of the people who have actually settled there, as well as their income stream.[s],” he said. “We will not give any loan that does not help people, but [instead] give them an additional burden, so we have our officials to assess the real situation.

Voeun, who is also CEO of Sri Lankan company LOLC (Cambodia) Plc, said he had a meeting on September 14 with the regional manager of Siem Reap to provide guidelines which he said aligns with the rules of the association.

“I have just given policy guidance to our branch managers and staff in Siem Reap to work on loans with favorable rates and easing requirements,” he said, reiterating that loan sizes will be based on appraisals.

CMA spokesperson Kaing Tongngy told the Post that the association believes the upcoming specials will improve the livelihoods of those moving to the Run Ta Ek area, “as they may have financial resources to start new businesses and renovate their homes or [build] the news”.

He said the AMC is in talks with members on detailed guidelines and that those operating in and near the area “have accepted the commitment”.

However, like Voeun, Tongngy pointed out that “we cannot set a fixed interest rate, because the rates are based on loan size, loan term and many other conditions.”

The relocation operation to the areas of Run Ta Ek and Peak Sneng – and potentially other areas to be determined – comprises 93,351 plots representing a total of 10,945 ha, located in 114 target villages of 24 communes, in the provincial town of Siem Reap and four districts, according to the Ministry of Land Use Planning, Town Planning and Construction.

Since last month, a total of 1,117 households living in the park have randomly drawn lots to move to the new location. According to Hun Sen, the area is expected to eventually accommodate up to 6,000 households from the Angkor Conservation Area.

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Business women ready to get low interest loans from SME Bank https://premekvihan.net/business-women-ready-to-get-low-interest-loans-from-sme-bank/ Mon, 12 Sep 2022 06:37:54 +0000 https://premekvihan.net/business-women-ready-to-get-low-interest-loans-from-sme-bank/ CWEA Chairman Keo Mom and SME Bank CEO Lim Aun shake hands after signing a memorandum of understanding on September 9. EMS BANK Businesswomen in the Cambodia Women Entrepreneurs Association (CWEA) will be able to access loans at annual interest rates “0.25 percentage points below market” from the Small and Medium Enterprise Bank of Cambodia […]]]>

CWEA Chairman Keo Mom and SME Bank CEO Lim Aun shake hands after signing a memorandum of understanding on September 9. EMS BANK

Businesswomen in the Cambodia Women Entrepreneurs Association (CWEA) will be able to access loans at annual interest rates “0.25 percentage points below market” from the Small and Medium Enterprise Bank of Cambodia Plc (SME Bank), state-owned. Head of CWEA.

CWEA Chairman Keo Mom confirmed the figure to The Post after signing a Memorandum of Understanding (MoU) to that effect with SME Bank CEO Lim Aun on September 9.

Mom, who is also CEO of Ly Ly Food Industry Co Ltd, one of the largest food processing companies in the Kingdom, told The Post that the main objective of the MoU was to establish long-term cooperation. term between CWEA and SME Bank to create and support financial arrangements for women entrepreneurs and promote the growth of small and medium-sized enterprises (SMEs) in the Kingdom.

She said the 0.25 percentage point rebate would give women entrepreneurs access to finance to grow and grow their businesses.

Speaking at the signing ceremony on September 9, Aun of SME Bank also said that the MoU would provide SMEs within CWEA with favorable credit terms to grow and ensure smooth and sustainable operations. .

Meanwhile, SME Bank reported that 148 businesses involved in the tourism value chain – all SMEs – had received $19.86 million in loans under the Tourism Recovery Co-financing Scheme (TRCS) in the country. August 31, or 13.24% of the $150 million budget. . Of that amount, 41%, or just over $8 million, went to women-owned businesses.

Broken down by category, hotels accounted for the most funds, at 25%, followed by guesthouses (23%), restaurants (40%) and other businesses (12%).

The TRCS was rolled out on May 17 to provide a lifeline to businesses involved in the tourism value chain that are considered to have been significantly impacted by the Covid-19 crisis, and is currently being implemented with the support of 19 Participating Financial Institutions (PFIs) . The program’s loan rules and procedures were officially established on July 1, which opened the door to loan applications.

The program was financed by a matching fund between the government and financial institutions, with $75 million from the national budget to be disbursed in the form of loans issued by SME Bank, and the remaining $75 million in the form of loans. granted through PFIs, which include commercial loans. banks and microfinance institutions (MFIs).

The main offers of the project include a maximum interest rate of 6.5% per annum, a grace period of 16 months on principal repayments, a loan term of up to seven years, a loan amount of up to reach $400,000 and the option to receive funds in either riel or US dollars.

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Dallas County hopes to get approval for low-interest SBA loans to help flood-affected people https://premekvihan.net/dallas-county-hopes-to-get-approval-for-low-interest-sba-loans-to-help-flood-affected-people/ Fri, 09 Sep 2022 07:00:00 +0000 https://premekvihan.net/dallas-county-hopes-to-get-approval-for-low-interest-sba-loans-to-help-flood-affected-people/ Dallas County hopes to get approval for low-interest SBA loans to help flood-affected people Last month’s flood damage in Dallas County wasn’t enough to qualify for a federal grant to help victims rebuild, but those who need help can still get cheap loans to rebuild . BALCH SPRINGS, TX – The damage from last month’s […]]]>

The damage from last month’s flooding in Dallas County was not enough to qualify for a federal grant to help victims rebuild.

But those who need help can still get cheap loans to rebuild.

Dallas County leaders went door-to-door in southeast Dallas County on Friday to see who might qualify for these loans.

Some people in the area said they struggled to figure out how to repair the damage.

Dallas County is now waiting to see if the damage qualifies Balch Springs residents for low-interest loans from the Small Business Administration.

But many owners said they couldn’t keep waiting and had been working to rebuild their lives for weeks.

“Bills don’t wait. Debts and bills pile up,” said Vanessa Villas.

Garbage has also been piling up on Villas Street for three weeks.

From sunrise to sunset, she and her husband set out to repair their flood-damaged home themselves.

The Balch Springs couple don’t have insurance.

On Friday, they finished painting the children’s rooms.

“We still have to put in the floors, the trim,” Villas said.

RELATED: Flooding forces residents of Balch Springs to evacuate their homes

On August 22, historic flooding forced homeowners in some Balch Springs neighborhoods to evacuate.

Some residents were trapped and had to be rescued from high water.

Once the water receded, the Villas began to rebuild and have not stopped since, but they are now awash in debt.

“It’s like everyone’s life is going on and our lives are freezing. We’ve been stuck here,” Villas said.

City, county and state emergency management officials visited Balch Springs on Friday.

“In the entire state of Texas, we only had 70 homes destroyed or damaged. The majority were in Dallas County,” Dallas County Judge Clay Jenkins said.

Jenkins was also part of Friday’s storm assessment, now hoping Balch Springs flood victims will qualify for low-interest disaster loans under the SBA program.

Despite its name, the SBA also offers low-interest disaster loans to homeowners.

Gov. Greg Abbott issued a disaster declaration for 23 counties to attempt to qualify for FEMA assistance, but Judge Jenkins said FEMA’s threshold for uninsured losses had not been met.

“We all after listening to the state, and FEMA agreed that SBA was the way to go,” Jenkins said. “I’m disappointed that we can’t get individual help for those affected and only get these low interest loans for them.”

If approved, Jenkins thinks people will be on the ground processing low-interest loans over the next week.

But some don’t wait.

Oscar Rodriguez has been doing some work, still awaiting a final estimate from his insurance.

His 21-year-old house is now completely empty.

“Everything in the house is not well,” he said.

Across the street, the Villas want to reach halfway this weekend to hopefully have some sense of normalcy.

“We had to cut our drywall. That side of the house was untouched,” Villas said. “We had to start. We have three children that we have to bring home.”

If Dallas County is approved for these low-interest loans from the SBA, anyone with flood damage in surrounding counties, such as Tarrant, Ellis, or Collin counties, may also be eligible.

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DC Works to Increase Black Homeownership with Low-Interest Loans and Deferred Repayment https://premekvihan.net/dc-works-to-increase-black-homeownership-with-low-interest-loans-and-deferred-repayment/ Tue, 23 Aug 2022 22:27:48 +0000 https://premekvihan.net/dc-works-to-increase-black-homeownership-with-low-interest-loans-and-deferred-repayment/ Mortgage rates are rising, inflation is at an all-time high — and the District of Columbia is taking steps to boost homeownership, especially among blacks. According The Washington PostDC Mayor Muriel Bowser announced this week that first-time home buyers may be eligible for assistance of up to $202,000 beginning Oct. 1. Funding, which is part […]]]>


Mortgage rates are rising, inflation is at an all-time high — and the District of Columbia is taking steps to boost homeownership, especially among blacks.

According The Washington PostDC Mayor Muriel Bowser announced this week that first-time home buyers may be eligible for assistance of up to $202,000 beginning Oct. 1. Funding, which is part of the district Home Buyer Assistance Program (HPAP), will take the form of a low-interest loan, with homeowners having up to five years to defer payments.

Although the program is not new, the increase is. Prior to the mayor’s announcement, HPAP was allowing qualified home buyers to get a loan of up to $80,000 for a down payment and top-up financing, as well as up to $4,000 for additional grants for home expenses. fencing.

Mayor Muriel E. Bowser is taking steps to boost home ownership among black residents of Washington, DC (Photo: Alex Wong/Getty Images)

“We knew we had to do something to make the program more viable for potential buyers,” Deputy Mayor John Falcicchio said, as reported by The Post. “We wanted our residents to be the best prepared to enter this boiling housing market.”

DC authorities have decided on amounts that would allow people earning up to $109,600 and families of four earning up to $156,550 to qualify for phased assistance. Loan amounts range from $70,000 to $202,000, with the upper limit being a nod to the district’s 202 area code.

City officials are “trying to get more people to buy in the district, to live in the district, with a primary focus on black homeownership,” said Tsega Bekele, chief of staff of the DC’s Department of Housing and Community Development, as reported by The Post. “If you see that $202,000 is available to me for down payment assistance, you might think, ‘Wow, I, too, could buy a house, I think. “”

Black landlord investigating housing discrimination gets higher rating after white co-worker moves in

The program has reportedly helped about 350 people since Bowser took office in 2015, but some participants say some of its requirements — such as getting an approved home inspection — can still make it difficult to stay competitive on the market. booming housing market, like other buyers. might be able to waive an inspection.

Bowser is making other changes in the near future to help address such dilemmas, including forming a new “strike force” to increase Black homeownership and close the racial equity gap in the district; as well as expanding the Homeowners Assistance Fund, which provides assistance with resident mortgages and HOA dues.

“If you look back at where there have been declines in the housing market nationally, we haven’t felt that as much as other regions,” Falcicchio said, according to The Post. The report, citing Bright MLS, said the median home price in the city in July was $646,000.

Interest rates and price hikes are expected to have an outsized effect on black consumers, businesses

Falcicchio added that increasing the maximum amount of assistance potential buyers can receive “puts those who participate in the program on a level playing field in a market where people are looking for that first home which may be a condo or a home that is not at the higher end of what homes can buy in the district.

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SBA low-interest loans available for those affected by August 5 heavy rains and flash flooding | Local News https://premekvihan.net/sba-low-interest-loans-available-for-those-affected-by-august-5-heavy-rains-and-flash-flooding-local-news/ Tue, 23 Aug 2022 04:15:00 +0000 https://premekvihan.net/sba-low-interest-loans-available-for-those-affected-by-august-5-heavy-rains-and-flash-flooding-local-news/ Local businesses and residents affected by heavy rains and flash flooding on August 5 can apply for low-interest disaster loans from the US Small Business Administration. The loans cover those affected in Fayette, Washington, Westmoreland, Allegheny, Somerset, Armstrong, Cambria and Indiana counties. Governor Tom Wolf requested a disaster declaration by the SBA earlier this month, […]]]>

Local businesses and residents affected by heavy rains and flash flooding on August 5 can apply for low-interest disaster loans from the US Small Business Administration.

The loans cover those affected in Fayette, Washington, Westmoreland, Allegheny, Somerset, Armstrong, Cambria and Indiana counties. Governor Tom Wolf requested a disaster declaration by the SBA earlier this month, which led to the availability of low-interest loans.

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Low-interest loans available for victims of August 5 floods in western Pennsylvania https://premekvihan.net/low-interest-loans-available-for-victims-of-august-5-floods-in-western-pennsylvania/ Sat, 20 Aug 2022 00:09:36 +0000 https://premekvihan.net/low-interest-loans-available-for-victims-of-august-5-floods-in-western-pennsylvania/ Residents and business owners in nine western Pennsylvania counties whose property was damaged by the Aug. 5 flood can apply for low-interest loans from the federal government, l ‘State. Flood victims in Westmoreland, Fayette, Allegheny, Armstrong, Butler, Indiana, Somerset, Washington and Cambria counties have been eligible for loans since the US Small Business Administration approved […]]]>

Residents and business owners in nine western Pennsylvania counties whose property was damaged by the Aug. 5 flood can apply for low-interest loans from the federal government, l ‘State.

Flood victims in Westmoreland, Fayette, Allegheny, Armstrong, Butler, Indiana, Somerset, Washington and Cambria counties have been eligible for loans since the US Small Business Administration approved Governor Wolf’s request to put financial assistance to the available to people affected by the floods.

Low-interest loans of up to $200,000 are available to homeowners and tenants to repair or replace damaged or destroyed real estate.

SBA regulations also allow loans of up to $40,000 to repair or replace damaged personal property, including vehicles.

Businesses and nonprofits can borrow up to $2 million to restore damaged or destroyed buildings, inventory, equipment and other physical losses, the state said.

Businesses may be able to obtain loans to pay fixed debts, payroll, accounts payable and other bills that cannot be paid due to the impact of the disaster. This money is available to a business even if it has not suffered flood damage, the SBA said. Borrowers have the option of spreading the repayment over 30 years.

SBA Office at Saint Vincent College

The SBA will open a Disaster Loan Awareness Center in Room 1B of the Fred Rogers Center at Saint Vincent College near Latrobe. The outreach center will be open from 9 a.m. to 6 p.m. Monday to Friday, with the exception of August 24, when it will be open from 11 a.m. to 6 p.m., and September 2, when it will be open on the last day. from 9 a.m. to 4 p.m. It will be open from 10 a.m. to 2 p.m. on August 27 and closed on August 28.

Those seeking information can obtain information and loan applications by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard of hearing) or by emailing at DisasterCustomerService@sba.gov.

Loan applications can be downloaded at sba.gov/disaster. Completed applications should be mailed to: US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to apply for a property damage loan is October 18, while the deadline to apply for an economic disaster loan is May 19, 2023.

Joe Napsha is a staff writer for Tribune-Review. You can contact Joe by email at jnapsha@triblive.com or via Twitter .

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Farmers can apply for low-interest loans to reduce production costs after ARDB agreement https://premekvihan.net/farmers-can-apply-for-low-interest-loans-to-reduce-production-costs-after-ardb-agreement/ Tue, 16 Aug 2022 13:04:21 +0000 https://premekvihan.net/farmers-can-apply-for-low-interest-loans-to-reduce-production-costs-after-ardb-agreement/ Farming communities can consider reducing production costs through low-interest loans following a subsidiary loan agreement between the Agricultural and Rural Development Bank (ARDB) and three financial institutions. The agreement was signed with a commercial bank and two microfinance institutions (MFIs) – Cambodia Post Bank Plc, Chamroeun Microfinance Plc and AMK Microfinance Institution Plc – under […]]]>

Farming communities can consider reducing production costs through low-interest loans following a subsidiary loan agreement between the Agricultural and Rural Development Bank (ARDB) and three financial institutions.

The agreement was signed with a commercial bank and two microfinance institutions (MFIs) – Cambodia Post Bank Plc, Chamroeun Microfinance Plc and AMK Microfinance Institution Plc – under the Cambodia Agricultural Sector Diversification Project (CASDP) on 15 august.

The agreement aims to support the agricultural sector, a pillar of the Cambodian economy, at a time when the world is facing a food crisis.

Cambodian Rice Federation President Song Saran told the Post on Aug. 16 that the funding package reflects the government’s commitment to securing low-interest financing for farmers and farming communities.

“I see this as good news in the new financing environment, which shows that the government is committed to working with financial institutions such as microfinance institutions located close to farming communities, as well as with farmers, to provide easy and efficient financing.

“I support the fact that the ARDB has set this policy to help the farming community as much as possible, by enabling them to access appropriate finance at an appropriate rate of interest,” Saran said.

Mak Chamroeun, Chairman of AgriBee (Cambodia) Plc, also commended the government institution and financial institutions for their efforts in financing the agricultural sector.

“I believe that providing low interest loans to farmers or key players in the agricultural sector is necessary to keep the cost of farmers’ agricultural products low, allowing them to be competitive in the market” , did he declare.

ARDB Deputy Director General Chan Seiha told reporters at the event that CASDP has a capital of $30 million, which is funded by the World Bank to focus on agriculture, with the exception of rice for five years.

“We have collaborated by providing our three partners, of which we are the main one, so that they can work directly [with the farming communities],” he said.

Seiha said the “wholesale” loans made by the ARDB to the three financial institutions are at an interest rate of 5% per annum, with no service charges.

“However, the interest rate that the three institutions offer to customers depends on the policy of each institution, the farmers and the current farming community,” he added.

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