Borrowing – Columbus Chamber http://columbus-chamber.org/ Tue, 04 May 2021 06:53:27 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.2 https://columbus-chamber.org/wp-content/uploads/2021/05/cropped-icon-32x32.png Borrowing – Columbus Chamber http://columbus-chamber.org/ 32 32 Pressley, Warren and Healey team up to push Biden to cancel student loan debt https://columbus-chamber.org/pressley-warren-and-healey-team-up-to-push-biden-to-cancel-student-loan-debt/ https://columbus-chamber.org/pressley-warren-and-healey-team-up-to-push-biden-to-cancel-student-loan-debt/#respond Wed, 07 Apr 2021 23:14:16 +0000 https://columbus-chamber.org/pressley-warren-and-healey-team-up-to-push-biden-to-cancel-student-loan-debt/ Three of Bay State’s most powerful women have joined forces to push President Biden to eliminate up to $ 50,000 in federal student loan debt per borrower as the White House weighs its options. “We are all here to call on President Biden to do the right thing by the movement that elected him,” said […]]]>


Three of Bay State’s most powerful women have joined forces to push President Biden to eliminate up to $ 50,000 in federal student loan debt per borrower as the White House weighs its options.

“We are all here to call on President Biden to do the right thing by the movement that elected him,” said U.S. Representative Ayanna Pressley, adding that student debt cancellation is “essential to a recovery fair, robust and equitable of this pandemic. . “

Pressley, US Senator Elizabeth Warren and state Attorney General Maura Healey separately asked Biden to sign a federal student loan cancellation. On Thursday, they looked for strength in numbers to send their message straight to the top.

“The president has the power to make this change today,” Healey said. “And this is so important because we cannot allow families to be pushed further and further back in the possibility of building their future.”

Biden had previously rejected calls by Progressive Democrats and Senate Majority Leader Chuck Schumer, DN.Y., to cut up to $ 50,000 per borrower, and suggested $ 10,000 instead.

But Thursday, White House chief of staff Ronald Klain says Politico that Biden “didn’t make a decision one way or the other” and asked Education Secretary Miguel Cardona to write a note on the president’s legal authority to write off loan debt students.

“It’s awesome,” Pressley said. “Because in all the conversations I’ve been involved with with the people involved, they don’t even think that this $ 10,000 is of interest to them.”

Pressley and her comrades believe Biden has the executive power to write off debt under the Higher Education Act – and she said this was a “direct mandate” from the “diverse coalition” that sent him to the White House.

“If you want to talk about the role black women played on the ballot and at the ballot box, black women are the most educated and the most burdened with student debt,” Pressley said. “So you can say the words of appreciation. Politics is my language of love – cancel student debt.

There are 855,000 borrowers in Massachusetts who owe a total of $ 33.3 billion in student loans, with an average balance of nearly $ 39,000, officials said.

A borrower, La’Kayla Carpenter, was about to buy her first home when she found out she still had $ 23,000 in debt, and said she was “berated” when she offered her mortgage fees. closing to withdraw his loan from default.

“It would really help people like me,” Carpenter said.

Critics called the massive student loan cancellation unfair for former borrowers who worked hard to pay off their loans.

But Warren dismissed this argument, saying that “our economy would fare better if all the people with student debt could go out and start their own small businesses, able to buy a house.”



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High Court allows troubled Amigo Loans to cap compensation payments | Consumer rights https://columbus-chamber.org/high-court-allows-troubled-amigo-loans-to-cap-compensation-payments-consumer-rights/ https://columbus-chamber.org/high-court-allows-troubled-amigo-loans-to-cap-compensation-payments-consumer-rights/#respond Wed, 07 Apr 2021 23:14:16 +0000 https://columbus-chamber.org/high-court-allows-troubled-amigo-loans-to-cap-compensation-payments-consumer-rights/ High-cost lender Amigo Loans to continue efforts a rescue plan to cap compensation payments for nearly a million customers after the High Court dismissed fears the proposed scheme would harm them unfairly. Amigo, who is giving directors the opportunity to earn £ 7million in long-term bonuses under the deal, said he welcomed the court ruling, […]]]>

High-cost lender Amigo Loans to continue efforts a rescue plan to cap compensation payments for nearly a million customers after the High Court dismissed fears the proposed scheme would harm them unfairly.

Amigo, who is giving directors the opportunity to earn £ 7million in long-term bonuses under the deal, said he welcomed the court ruling, which would allow a meeting with creditors on May 12 to go as planned, followed by a vote. of all customers.

The controversial agreement was not opposed by the regulator, the Financial Conduct Authority, despite concerns that mis-sold customers could receive just over 5% of a successful claim after Amigo capped its compensation pool to a maximum of £ 35million and 15% profits over the next four years.

On weekends, Shadow City Minister Pat McFadden, and the head of the Treasury Select Committee, Mel Stride, said that FCA had questions to answer about how it regulated companies like Amigo and whether it was fulfilling its obligation to protect consumers.

Amigo, which was founded in 2005, but rose to prominence after the demise of the subprime rival Wonga in 2018, was inundated with abuse claims last year after customers accused the company of failing to perform basic financial checks.

The financial ombudsman service found in favor of clients in 88% of some 1,100 cases which has undergone a full review and is owed £ 10million by Amigo as a creditor.

McFadden warned that other high-cost lenders could exploit the FCA’s decision to pull out of telling the court it would not regulate the lender even if the court approves the deal.

“If Amigo is able to avoid repair payments through this mechanism, there is a risk that it will set a precedent for other companies in a similar position,” said McFadden. “And of course, people will be appalled if ordinary borrowers run out of currency while those at the top of the business receive large payments.”

The consumer credit division of home lender Provident Financial has already offered a deal similar to Amigo’s, and other high-cost lenders struggling to keep up with claims may follow suit.

The court heard that the FCA did not support the program, but “there is no current plan to take any further action.” Since we learned last week that the FCA would not oppose the deal, the company’s share price increased by 50% to 16p.

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Amigo warned that unless creditors and customers agree to save him, he will file an administration request and his significant responsibilities will rule out any improper payments made.

The court heard that Amigo would assess the claims using an algorithm and those that were rejected would be subject to further scrutiny. It was estimated that compensation would represent 10% of average claims, the court was told.

Gary Jennison, Managing Director of Amigo, said: “We are delighted that the court has accepted the project to continue. We look forward to our customers having the opportunity to vote and support the program, which we believe is the only real option for customers who are entitled to redress to receive cash compensation.

“Since it is in their best interests and the real alternative is insolvency, we strongly encourage our 700,000 former clients and 300,000 current clients to vote for their money and support the program.”

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Greater Alliance Federal Credit Union Believes In ‘The People Helping The People’ With COVID Relief Loan Offer https://columbus-chamber.org/greater-alliance-federal-credit-union-believes-in-the-people-helping-the-people-with-covid-relief-loan-offer/ https://columbus-chamber.org/greater-alliance-federal-credit-union-believes-in-the-people-helping-the-people-with-covid-relief-loan-offer/#respond Wed, 07 Apr 2021 23:14:16 +0000 https://columbus-chamber.org/greater-alliance-federal-credit-union-believes-in-the-people-helping-the-people-with-covid-relief-loan-offer/ To be eligible for the COVID Relief Loan, borrowers must be a U.S. citizen or permanent resident and live, work, own a business, attend school, volunteer or worship in Bergen or Passaic counties. With so many people out of work and struggling to make ends meet, Greater Alliance Federal Credit Union announced a new fixed […]]]>


To be eligible for the COVID Relief Loan, borrowers must be a U.S. citizen or permanent resident and live, work, own a business, attend school, volunteer or worship in Bergen or Passaic counties.

With so many people out of work and struggling to make ends meet, Greater Alliance Federal Credit Union announced a new fixed loan to help in these difficult times.

COVID Relief Loan offers up to $ 2,500 at a fixed rate, starting at 6.99% APR1 according to Sheryline Ingersoll, director of marketing for Greater Alliance.

And here’s the best part: Consumers can choose not to make any payments for 90 days, giving them time to get back on their feet.

“We understand that right now there are many people in need,” said Ingersoll. “We just want to help people cover their expenses, whether it’s paying rent or buying groceries. Our philosophy is that people help people. ”

This special quick turnaround loan is only for people who have been affected by the novel coronavirus. This includes losing a job due to the pandemic, reduced work hours, quarantine or illness from COVID-19, and caring for a sick family member.

To be eligible, borrowers must be U.S. citizens or permanent residents and live, work, own a business, attend school, volunteer, or worship in Bergen or Passaic counties. They must also have been a member of a credit union for at least 30 days. It is easy to become a member. Consumers can simply connect online to https://www.greateralliance.org/apply/ and open a savings account of at least $ 25.

For consumers unaffected by the virus or for people who need more funds, Greater Alliance also offers personal loans of up to $ 30,000 for qualified borrowers. With a rate as low as 10.24% APR2, borrowers can choose from different terms, ranging from 24 to 84 months, with no prepayment penalties. No collateral, such as a house, is required.

“We have increased the limit from $ 20,000 to $ 30,000 to help people with greater financial need,” said Ingersoll. “It’s a great way to consolidate debt from high interest credit cards or other loans. With this, you have a low fixed monthly payment, instead of paying different interest rates on different credit cards. ”

Ingersoll notes that the personal loan is a much better option than taking a credit card advance, which typically has transaction fees of 3% to 5% and interest rates as high as 25%.

She also cautions consumers to be wary of “payday loans,” which are typically very short term – around two weeks – and carry incredibly high fees. These loans, banned or heavily regulated, typically involve the borrower writing a post-dated check and the payday lender keeping the check until the borrower’s next pay period. The typical annual percentage rate, that is, the rate borrowers pay, averages 400%.

“The personal loan is much more profitable than a cash advance loan,” noted Ingersoll.

COVID and personal loans can be applied for online, with all documents signed electronically using DocuSign. The funds are then deposited directly into a credit union account.

“Applying for these loans can be done online,” Ingersoll said. “You don’t have to go to a branch. ”

People can choose to visit one of the Greater Alliance branches in Paramus and Hackensack to collect a check. The Paterson branch is currently closed as it does not have a drive-thru service. The other two branches operate with drive-thru.

Greater Alliance also offers debt protection on both loans. If a borrower is unable to repay the loan, the plan will cover any balance owed. The cost of the protection plan varies depending on the amount borrowed and the terms of the loan.

In addition, members of the Greater Alliance can receive free financial advice through GreenPath Financial Wellness. Offering comprehensive training and exceptional service, GreenPath helps credit union members with everything from budgeting to paying down debt.

Established in 1937, the Greater Alliance Federal Credit Union was originally a way for teachers to save money and manage their finances. Over the years it has grown to serve the communities of Bergen and Passaic counties and continues to be a strong and stable credit union.

Credit unions are non-profit financial institutions that generally offer lower interest rates on loans and higher interest rates on deposits.

“The profits we make go to our members in the form of lower loan rates and higher deposit rates,” Ingersoll said. “Once you are a member of the credit union, you are a life member. Each member of the credit union has equal stake and one vote, regardless of how much money a member has on deposit. In a credit union, each client is both a member and an owner. ”

The Greater Alliance is also an active member of the community, with its foundation supporting a variety of causes throughout the year including providing scholarships, participating in the annual Breast Cancer Walk and, right now, collecting donations for overwhelmed food banks.

Learn more and apply to www.greateralliance.org/ or call (201) 599-5500.

  1. APR = annual percentage rate. Loan term of 24 months, which would result in 24 monthly payments of $ 4.92 per $ 100 borrowed for eligible applicants at 6.99% APR. All borrowers must have or open savings and are required to maintain a minimum balance of $ 100 in their personal savings account to avoid a monthly fee of $ 15. A full credit check will be required for all borrowers. All advertised rates and conditions are subject to individual qualifying factors and are subject to change without notice.
  2. APR = annual percentage rate. The 10.24% rate refers to eligible individuals based on their creditworthiness. ALL borrowers must have or open savings and are required to maintain a minimum balance of $ 100 in their personal savings account to avoid fees. A full credit check will be required for all borrowers. All advertised rates are subject to individual qualifying factors and subject to change without notice.



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3 stocks that write you a check every month https://columbus-chamber.org/3-stocks-that-write-you-a-check-every-month/ https://columbus-chamber.org/3-stocks-that-write-you-a-check-every-month/#respond Wed, 07 Apr 2021 23:14:16 +0000 https://columbus-chamber.org/3-stocks-that-write-you-a-check-every-month/ Nothing like regular dividends to encourage investors. It’s one thing to get paid quarterly, but getting paid monthly is even better, especially if the return is over 4%. Monthly dividend stocks are often real estate investment trusts (REITs) or business development corporations (BDCs), which tend to be diversified investments. Instead of relying on sales of […]]]>


Nothing like regular dividends to encourage investors. It’s one thing to get paid quarterly, but getting paid monthly is even better, especially if the return is over 4%.

Monthly dividend stocks are often real estate investment trusts (REITs) or business development corporations (BDCs), which tend to be diversified investments. Instead of relying on sales of one or two successful products, they usually have multiple sources of income from multiple companies.

Three monthly payers that I love right now because of their stock growth and high dividend yields are Gladstone Investment (NASDAQ: GAIN), Industrial STAG (NYSE: STAG), and Real estate income (NYSE: O).

Image source: Getty Images.

Hard to lose with an acronym like GAIN

Gladstone Investment shares have risen over 59% in the past 12 months and over 23% since the start of the year. The company increased its monthly dividend from 2.94% in January 2020 to $ 0.07 per share, giving it a yield of 6.71% at its closing price on Thursday. It has distributed a dividend for 186 consecutive months and has not reduced its dividend since 2009.

BDCs like Gladstone provide management assistance and provide short-term loans of $ 20 million to $ 50 million to their clients. Gladstone said his clients are mostly small businesses with a EBITDA between $ 3 and $ 20 million.

Like REITs, BDCs can avoid income tax by distributing 90% of their taxable income to shareholders, which is the main reason their dividends are so good. The downside is that they have to raise capital in the debt and equity markets, which means they may have a hard time raising capital during a prolonged downturn, making them riskier than stocks. classic.

Gladstone focused on a diverse customer base, helping to mitigate some of this risk. As of December 31, it invested in 28 companies in 17 states and 13 industries.

BDCs can be difficult to analyze, but for me the best show steady growth in tangible book value, the value of a company’s total net assets minus the intangibles. Over the past five years, Gladstone’s has increased 23.82% while its total return price has increased 176.8%.

GAIN Total Return Price Chart

GAIN Total return price given by YCharts

Stag Industrial is growing the right way

STAG Industrial is a REIT specializing in industrial commercial real estate. Its shares have risen over 56% in the past 12 months and over 10% in the past year. the the company offers a monthly dividend of $ 0.120833 per share, which equates to $ 1.45 per share per year, giving it a current yield of 4.2%.

The quality of STAG tenants, who understand Amazon, General Service Administration, and Ford, among other things, makes it a safer choice. The company said in a recent report that more than 60% of its tenants have annual revenue above $ 1 billion.

In the fourth quarter, STAG reported that its buildings had an occupancy rate of 96.9% on the total portfolio and 97.2% on the operating portfolio. As of February 10, he had received rent from 99.6% of these buildings for the year ending December 31, 2020.

The company has a lot of momentum behind it. It showed net profit of $ 196.7 million for 2020, a 349% year-over-year increase. The company’s baseline FFO was $ 288.7 million, up 21.6% year-over-year. Much of the property owned by STAG is in warehouses, and the growth of e-commerce has made warehouses a fashionable commodity. According to statistics from the US Census Bureau, e-commerce sales amounted to $ 791.7 billion in 2020, an increase of 32.4% from the previous year. And the e-commerce percentage of retail sales rose to 14% last year, up 3% from the previous year.

Over the past five years, STAG has increased its Total Return Price by 121.9% while increasing its Funds From Operations (FFO) per share by 99.77%.

Realty Income is built to last

No monthly dividend portfolio is complete without the aptly named Realty Income, which has joined the S&P 500 Dividend Aristocrat list in 2020. Realty has delivered a dividend for 607 consecutive months and has increased that dividend for 93 consecutive quarters.

The company’s shares have risen over 42% in the past 12 months and over 4.7% this year. The REIT just increased its monthly dividend to $ 0.235 per share, which represents an annual dividend of $ 2.82 per share and a current yield of 4.33%. This is a business designed for long term investors. If you had invested in the company when it was first listed on the New York Stock Exchange in 1994, you would have an average compound annual return of 15.3%, which compares favorably to S&P 500 average of 10.4% or the Nasdaq Composite average of 11.4% during this period.

Realty Income is large and diverse, with over 6,500 properties holding long term leases and tenants such as Alliance of Walgreen boots, FedEx, Walmart, CVS Health, and General dollar, all of which have a high credit rating. While some of them have faced financial hardship due to the pandemic, Realty Income continues to get paid. It collected contractual rents at the rate of 93.6% in the fourth quarter.

The company has been increasing its adjusted FFO per share for a decade. Last year it was $ 3.39 per share, up from $ 3.32 in 2019.

You don’t have to choose one

There is no reason that investors cannot have these three eggs in their basket. Realty Income is the easier choice because of its reliability and because it should fare better this year as businesses open up. STAG Industrial was able to profit from the explosion of e-commerce last year, and although e-commerce is not growing at the same rate this year, this trend is not declining. It’s also a good bet because of its diverse and elitist tenant base. Gladstone Investment carries more risk than the two REITs, but will also reward investors with a higher dividend yield.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are motley! Questioning an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.



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Entrepreneurs at risk in the event of GFG failure | Whyalla news https://columbus-chamber.org/entrepreneurs-at-risk-in-the-event-of-gfg-failure-whyalla-news/ https://columbus-chamber.org/entrepreneurs-at-risk-in-the-event-of-gfg-failure-whyalla-news/#respond Wed, 07 Apr 2021 23:14:16 +0000 https://columbus-chamber.org/entrepreneurs-at-risk-in-the-event-of-gfg-failure-whyalla-news/ Opposition leader Peter Malinauskas has warned that local contractors and GFG Alliance suppliers could be “left out” if the company collapses. Speaking at a press conference on Wednesday, Mr Malinauskas said contractors risked missing hundreds of thousands of dollars owed for work already undertaken. He called on Prime Minister Steven Marshall to put in place […]]]>


Opposition leader Peter Malinauskas has warned that local contractors and GFG Alliance suppliers could be “left out” if the company collapses.

Speaking at a press conference on Wednesday, Mr Malinauskas said contractors risked missing hundreds of thousands of dollars owed for work already undertaken.

He called on Prime Minister Steven Marshall to put in place “worst case” plans, saying the government should hope for the best and plan for the worst.

Mr Malinauskas said recent developments have given Mr Marshall an opportunity to echo Labor by providing interest-free loans to suppliers affected by GFG’s struggles.

“It would at least give these companies some confidence for the future,” he said.

Since Greensill’s collapse in administration, the $ 50 million pledged to GFG Alliance by the state government has remained on the table, with the Marshall government now that funding is not available for cash flow issues short term.

Mr Malinauskas said the government should not rely on an injection of money that could help make GFG more competitive.

“Why didn’t this money come … we had the Prime Minister sitting on that $ 50 million rather than using it as leverage to provide the capital investments that steel mills need,” he said. he declared.

“The government must convince workers that everything is being done to ensure that their jobs are maintained in the long term.”

Prime Minister Steven Marshall said there had been no call for a rescue from the GFG Alliance, and described it as a company that can “stand on its own feet”.

“The order book is full, productivity has increased, creditors are not blowing up, people are being paid in increasingly shorter deadlines,” he said.

“It’s too early to talk about interest-free loans … but for now let’s not solve a problem that doesn’t exist.”

Meanwhile, Greens Senator Sarah Hanson-Young has called on the federal government to be ready to buy out Whyalla Steel Mills if Sanjeev Gupta fails to refinance his business.

“South Australia’s unemployment rate exceeds that of the nation, if Whyalla Steelworks is not saved it will be even worse,” she said.

“By taking an equity stake, the government could accelerate Whyalla’s transition to manufacturing carbon-free green steel with green hydrogen, continuing South Australia’s role as a global energy leader. renewables and emission reductions.

“It’s a smart investment in jobs, the region and our country’s clean green future.”



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Save Our Stages Act Passes With COVID-19 Stimulus Bill https://columbus-chamber.org/save-our-stages-act-passes-with-covid-19-stimulus-bill/ https://columbus-chamber.org/save-our-stages-act-passes-with-covid-19-stimulus-bill/#respond Wed, 07 Apr 2021 23:14:15 +0000 https://columbus-chamber.org/save-our-stages-act-passes-with-covid-19-stimulus-bill/ After months of fending for themselves, the independent places receive relief. the Save Our Stages Act, a $ 15 billion funding package aimed specifically at independent venues, was signed by President Donald Trump on December 27 as part of a $ 900 billion COVID-19 stimulus bill. The law was drafted after months of lobbying from […]]]>


After months of fending for themselves, the independent places receive relief.

the Save Our Stages Act, a $ 15 billion funding package aimed specifically at independent venues, was signed by President Donald Trump on December 27 as part of a $ 900 billion COVID-19 stimulus bill. The law was drafted after months of lobbying from the National Association of Independent Sites, a coalition of more than 1,200 concert halls across the country – including Gainesville’s High Dive – that pushed for government aid during the pandemic.

the act awards individual grants equal to 45% of the gross income of each independent site as of 2019, with a cap of $ 10 million to each establishment. Eligible expenses under the law include all operating costs from March 1, 2020 to December 31, 2021. According to a NIVA statement, the funding will contribute to the payroll and benefits of site employees, rent and mortgages, utilities, insurance and other business expenses.

For sites like High Dive, this type of government assistance makes the difference between surviving and shutting down permanently. With little to no prior help and more than six months of full shutdown, Pat Lavery, High Dive’s facilities and events manager, struggled to keep the business afloat.

“We are relieved to know that help is finally on the way,” he said.

Despite previous assistance such as the Paycheque Protection Program, the law funds represent the first significant relief from COVID-19 at independent sites. P3 loans to small businesses by the federal government in June did little to alleviate the economic pitfalls High Dive faced during the hiatus, Lavery said.

“It was supposed to last two and a half months, but it only lasted about a month for us,” he said.

Save Our Stages funds will be distributed in the form of grants, while PPP funds have been loaned to businesses. The funding will help the sites not only to keep operating, but also to repay the loans that were given as additional aid at the start of the closures.

In terms of help, no place has done exactly the same. High Dive only received the PPP loan and “a bit” of the Alachua County Coronavirus Aid, Relief and Economic Security Act, Lavery said. Other establishments, such as Crowbar in Ybor City, have received additional support from federal and local governments.

Tom DeGeorge, owner of Crowbar and captain of NIVA’s Florida district, took $ 150,000 Economic disaster loan of the federal government to keep his place alive. The loan, created by the US Small Business Administration specifically for the relief of the economic fallout from the COVID-19 pandemic, supported Crowbar in the short term.

But with a 30-year long maturity period and Crowbar still months away from business as usual, DeGeorge worries the loan may be unpayable for his venue and others like it.

“If we end up with these loans, our businesses will not survive,” he said.

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The importance of the Save Our Stages law comes from its specificity to concert halls. Unlike other small businesses, sites will not be able to immediately reopen to full capacity once the pandemic is over. Instead, they’ll have to wait until every element of the tour’s economy – artists and patrons as well as the venues themselves – is back in place to continue their normal operations.

A return to normal is expected in fall 2021, Lavery said. The act will function as a cushion until then, covering some of the opening costs as High Dive continues to host live broadcasts and remote shows with limited capacity.

The law funds will allow the sites to continue operating at reduced capacity and reopen safely, helping to make up for lost profits both during the shutdown period and with current limited operations. For site owners, that means catching up on bills and maintaining facility maintenance. For employees, that means staying on the payroll for the next several months.

“This is what is really going to save our industry,” Lavery said.

The Independent Florida Alligator has been independent from the university since 1971, your donation today could help #SaveStudentNewsrooms. Consider donating today.



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Walgreens Boots Alliance’s Debt Insights https://columbus-chamber.org/walgreens-boots-alliances-debt-insights/ https://columbus-chamber.org/walgreens-boots-alliances-debt-insights/#respond Wed, 07 Apr 2021 23:14:15 +0000 https://columbus-chamber.org/walgreens-boots-alliances-debt-insights/ During the last three months, the shares of Alliance of Walgreens boots (NASDAQ: WBA) rose 33.82%. Before we look at the importance of debt, let’s take a look at the amount of debt from Walgreens Boots Alliance. Walgreens Boots Alliance Debt Based on Walgreens Boots Alliance’s financial statements as at March 31, 2021, long-term debt […]]]>


During the last three months, the shares of Alliance of Walgreens boots (NASDAQ: WBA) rose 33.82%. Before we look at the importance of debt, let’s take a look at the amount of debt from Walgreens Boots Alliance.

Walgreens Boots Alliance Debt

Based on Walgreens Boots Alliance’s financial statements as at March 31, 2021, long-term debt is $ 11.00 billion and current debt is $ 5.16 billion, or $ 16.16 billion of total debt. Adjusted by $ 1.03 billion in cash equivalents, the company’s net debt stood at $ 15.13 billion.

Let’s define some of the terms we used in the paragraph above. Current debt is the portion of a business’ debt that is due within one year, while long-term debt is the portion due over one year. Cash equivalents include cash and all liquid securities with a maturity of 90 days or less. Total debt is current debt plus long-term debt minus cash equivalents.

To understand a company’s degree of financial leverage, investors look at the debt-to-equity ratio. Considering the Walgreens Boots Alliance total assets of $ 90.92 billion, the debt ratio is 0.18. Generally speaking, a debt ratio greater than one means that a large part of the debt is financed by assets. As the debt ratio rises, the risk of default on loans also increases if interest rates rise. Different industries have different tolerances for debt ratios. A debt ratio of 40% may be higher for one sector and normal for another.

Why are investors turning to debt?

Debt is an important factor in the capital structure of a business and can help it achieve growth. Debt generally has a relatively lower cost of financing than equity, making it an attractive option for executives.

However, due to interest payment obligations, a company’s cash flow can be affected. Having financial leverage also allows companies to use additional capital for their business operations, allowing shareholders to retain excess profits generated by debt capital.

Are you looking for stocks with a low debt ratio? Check out Benzinga Pro, a market research platform that gives investors near instant access to dozens of stock market metrics, including the debt ratio. Click here to find out more.



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The new alliance between Itaú and Rappi will bring greater https://columbus-chamber.org/the-new-alliance-between-itau-and-rappi-will-bring-greater/ https://columbus-chamber.org/the-new-alliance-between-itau-and-rappi-will-bring-greater/#respond Wed, 07 Apr 2021 23:14:15 +0000 https://columbus-chamber.org/the-new-alliance-between-itau-and-rappi-will-bring-greater/ SANTIAGO, Chile, March 29, 2021 (GLOBE NEWSWIRE) – ITAÚ CORPBANCA (NYSE: ITCB; SSE: ITAUCORP) today announced a new alliance with Rappi that will bring greater financial inclusion to Chile. This initiative builds on the experience and support of Itaú and Rappi. This agreement aims to revolutionize the local financial market with simple, innovative and unique […]]]>


SANTIAGO, Chile, March 29, 2021 (GLOBE NEWSWIRE) – ITAÚ CORPBANCA (NYSE: ITCB; SSE: ITAUCORP) today announced a new alliance with Rappi that will bring greater financial inclusion to Chile. This initiative builds on the experience and support of Itaú and Rappi.

This agreement aims to revolutionize the local financial market with simple, innovative and unique digital products, allowing a growing number of individuals to access new financial solutions in an agile and digital way.

With this initiative, Itaú and Rappi seek to democratize financial services, promote greater inclusion and, at the same time, simpler and faster digitization that brings broad benefits to users.

“At Itaú, we want to be where our customers need us and we are delighted to offer them new simple, useful and accessible platforms, making their daily lives easier and guiding them through their financial needs. Itaú and Rappi are recognized digital players, and this alliance will allow us to reach a growing number of individuals, ”said Gabriel Moura, CEO of Itaú Corpbanca.

“This alliance is a big step towards transforming the local financial system, through collaborative work between two companies that are experts in what they do and focused on the digitization of processes and services. Innovation is part of our entrepreneurial DNA and together with Itaú we will now also offer financial solutions, ”said Isaac Cañas, CEO of Rappi Chile.

According to Itaú and Rappi, they expect the new offering of digital financial products and services to be available in the third quarter of this year, through this new business model emerging from this alliance.

About Itaú Corpbanca

ITAÚ CORPBANCA (NYSE: ITCB; SSE: ITAUCORP) is the entity resulting from the merger of Banco Itaú Chile with and in Corpbanca on April 1, 2016. The current ownership structure is: 39.22% owned by Itaú Unibanco, 27.16% owned by the Saieh family and 33.29 % held by minority shareholders. Itaú Unibanco is the sole majority shareholder of the merged bank. In this context and without limiting the foregoing, Itaú Unibanco and CorpGroup have signed a shareholders’ agreement relating to corporate governance, dividend policy (based on performance and capital indicators), transfer of stocks, liquidity and other matters.

The bank is the fifth largest private bank in Chile and, according to its mandate, is the banking platform for future expansion in Latin America, particularly Chile, Colombia and Peru. Itaú Corpbanca is a Chile-based commercial bank with additional operations in Colombia and Panama. In addition, Itaú Corpbanca has a branch in New York and a representative office in Lima. Focused on large and medium-sized businesses and individuals, Itaú Corpbanca offers universal banking products. In 2012, the bank began a process of regionalization and, as of the date hereof, acquired two banks in Colombia ‒Banco Corpbanca Colombia and Helm Bank‒, thus becoming the first Chilean bank with banking subsidiaries abroad. The merger with Banco Itaú Chile and the business combination of our two banks in Colombia represent the continued success of our regionalization process.

As of December 31, 2020, according to the Chilean Financial Market Commission, Itaú Corpbanca was Chile’s fifth-largest private bank in terms of the overall size of its customer loan portfolio, accounting for 9.9% market share. As of the same date, according to the Colombian Superintendent of Finance, Itaú Corpbanca Colombia was the eighth largest bank in Colombia in terms of total loans and the ninth in terms of total deposits, according to local regulatory and accounting principles. As of December 31, 2020, its market share through loans reached 4.0%.

About Rappi

Rappi is a great application that fulfills the role of personal assistant and makes life easier for its users. It was founded by Colombians Simón Borrero (CEO), Sebastián Mejía and Felipe Villamarín in Bogotá in 2015.

In March 2016, she joined Y Combinator, the world’s largest technology company accelerator and was the first company to reach one million orders delivered in Latin America. In the second half of 2018, Rappi was recognized as a unicorn company, valued at US $ 1.0 billion.

In 2019, they received an investment of up to US $ 1.0 billion from SoftBank Group Corp. and SoftBank Vision Fund. This investment is the largest of its kind for a Latin American-based tech company. Rappi has been present in Chile since June 2018, in addition to being present in Colombia, Mexico, Costa Rica, Brazil, Ecuador, Uruguay, Argentina and Peru.

Investor relations – Itaú Corpbanca

+56 (2) 2660-1701 / IR@itau.cl / ir.itau.cl



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Local alliances drive recovery in some cities – Finance & Commerce https://columbus-chamber.org/local-alliances-drive-recovery-in-some-cities-finance-commerce/ https://columbus-chamber.org/local-alliances-drive-recovery-in-some-cities-finance-commerce/#respond Wed, 07 Apr 2021 23:14:15 +0000 https://columbus-chamber.org/local-alliances-drive-recovery-in-some-cities-finance-commerce/ Editor’s Note: Professional New York Times content will now be included with your Finance & Commerce subscription. Not a subscriber? Start your subscription here. As vaccination rates rise and businesses begin to reopen, cities across the country are moving forward cautiously with economic recovery plans to get workers back into offices and revive real estate […]]]>


Editor’s Note: Professional New York Times content will now be included with your Finance & Commerce subscription. Not a subscriber? Start your subscription here.

As vaccination rates rise and businesses begin to reopen, cities across the country are moving forward cautiously with economic recovery plans to get workers back into offices and revive real estate markets hit by the pandemic.

Some mid-sized cities – like Austin, Texas; Boise, Idaho; and Portland, Oregon – might be on the verge of a bounce back faster than others because they’ve developed strong relationships with their local economic development groups. These partnerships have established return plans that incorporate a number of common goals, such as access to affordable loans, relief for small businesses, and a focus on city centers.

Partnerships also encourage investments in infrastructure to attract new business activities. Last week, President Joe Biden announced a $ 2 trillion infrastructure plan to modernize the country’s bridges, roads, transit, railways, ports and airports.

“The stimulus packages create an agenda for the reconstruction of the metropolitan area,” said Richard Florida, a professor at the University of Toronto, who helped prepare a plan for northwest Arkansas.

In Tucson, Arizona, the revitalization plan, which goes into effect this month, calls for assessing the effect of the pandemic on important industries, including biotechnology and logistics. Other provisions recommend recruiting talented workers and preparing so-called ready-to-use sites of 50 acres or more.

Demand is high for industrial sites in Tucson. More than 80% of inquiries for real estate in the city are directed to industrial facilities, according to Sun Corridor, the regional economic development agency that sponsored the stimulus plan. And 65% of requests relate to space for new factories.

City leaders are building on a five-year, $ 23 billion growth plan in industrial and logistics development in the Tucson area, which resulted in the creation of 16,000 new jobs before the pandemic, according to Sun Corridor. Caterpillar and Amazon have established themselves in the region, while Raytheon, Bombardier and GEICO were among the many leading companies that have expanded their operations there.

“In hockey terms, we don’t play where the puck is; we try to skate where we expect it to happen, ”said Joe Snell, President and CEO of Sun Corridor. “We make sure we have the inventory of the sites so that when they come knocking on the door, we can fill the order.”

Other cities are struggling to recover after pandemic restrictions emptied their central business districts. The question is to what extent these city centers will bounce back when the pandemic ends.

“The pandemic has caused great changes in the way we work and in the geography of where we work,” Florida said. “The office as we know it, a workspace, is dead.”

Experts disagree on what will follow. Several economic trends, like the growth in hiring and acceptance of remote work, are colliding, said Richard Barkham, chief global economist at CBRE, the commercial real estate company.

After a 3.5% drop in economic activity in 2020, the U.S. economy is expected to grow 6.5% in 2021, he said, which bodes well for construction. But CBRE also predicts that office workers will spend 36% of their time working remotely, up from 16% before the pandemic.

“We are seeing a temporary slowdown in demand for new office space,” Barkham said. “We’re also seeing that it’s been reduced in two, three, or four years until the centers come back.”

The travel and entertainment industries were shut down during the pandemic, but companies that engaged in innovation, technology and information have exploded, said Tracy Hadden Loh, a member of the Brookings Institution. Growth in office development for tech jobs has been particularly strong in Austin; Charlotte, North Carolina; Phoenix; and San Francisco, she said, adding that building of offices for the knowledge economy would resume after the pandemic.

But she tempered her prediction because of another trend.

The number of square feet per worker has decreased significantly since 1990, ”she said.

Add to that the recent announcements from companies like Google, Microsoft, Target and Twitter regarding remote working, and some cities might see less office building activity.

These challenges are not limited to mid-sized cities. Large metropolitan areas like Los Angeles and New York are certainly in distress, but they have shown the ability in the past to bounce back from calamity. In San Francisco, city officials said there was no way to predict postpandemic construction activity, but expectations were high.

“This is not the first recession here,” said Ted Egan, chief economist for San Francisco. “We expect people to come back to the office.”

But cities that have a strong alliance with business development agencies should recover faster.

For example, the Downtown Austin Alliance, a business development group, holds focus groups and workshops, and conducts interviews and surveys to spark new interest in its downtown office market. Before the pandemic, 11 buildings covering about 3.5 million square feet were under construction, nearly half of all downtown offices.

Tucson also intends to resume construction. In addition to identifying industrial development sites, the Sun Corridor recovery plan calls for the revival of the city’s downtown area.

The pandemic closed 85 downtown restaurants, cut 10,000 travel and tourism jobs, and cut industry revenues by $ 1 billion. The antidote is to persuade city and county leaders to provide loans and grants to small businesses related to the tourism industry at the center of commercial space in downtown Tucson.

Mayor Regina Romero said the city is investing $ 5 million – $ 2 million more than last year – in the city’s tourism marketing group. Tucson also distributed $ 9 million of federal relief legislation passed in March 2020 in grants ranging from $ 10,000 to $ 20,000 to small businesses, many in tourism.

“We work together as a region,” Romero said. “This is one of the most important steps we can take for the recovery.”



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Locust Point Capital closes $ 428 million senior housing debt fund https://columbus-chamber.org/locust-point-capital-closes-428-million-senior-housing-debt-fund/ https://columbus-chamber.org/locust-point-capital-closes-428-million-senior-housing-debt-fund/#respond Wed, 07 Apr 2021 23:14:15 +0000 https://columbus-chamber.org/locust-point-capital-closes-428-million-senior-housing-debt-fund/ Locust Point Capital is bracing for a post-pandemic lending landscape. The Red Bank, New Jersey-based senior lender and investor announced on Monday it was closing its second senior housing debt fund with $ 428 million. The fund exceeded its target and includes commitments from pension funds, endowments, foundations, insurance companies and wealth advisers. Almost 75% […]]]>


Locust Point Capital is bracing for a post-pandemic lending landscape.

The Red Bank, New Jersey-based senior lender and investor announced on Monday it was closing its second senior housing debt fund with $ 428 million. The fund exceeded its target and includes commitments from pension funds, endowments, foundations, insurance companies and wealth advisers.

Almost 75% of the fund’s commitments came from American investors, the balance coming from European investors.

Locust Point’s new fund will continue the lending strategy of its previous offering – providing subordinated debt, preferred shares and opportunistic senior mortgages to owner-operators of housing and senior care facilities in the United States. United. has grown in popularity over the past year, with national and regional banks limiting their loans to existing customers with a proven track record during Covid-19.

Other lenders, including private equity firms, have rushed to fill the void left by the big banks. And Locust Point has been very successful in getting into debt during the pandemic. Transaction volume and loan applications increased 60% to 70% last year, compared to 2019, Managing Director and Founding Partner Dan Contardi mentionned last month during Senior Housing News’ Capital Quarterly webinar series. And the company is finding opportunities to partner with growing owner-operators on more of the capital stack, especially for new construction.

This could prove to be a growth opportunity for the future. As banks return to the lending environment, they demand more recourse from borrowers. Cash-strapped owner-operators may be attracted to private funds offering debt without recourse, at rates ranging from 75 basis points to 100 basis points higher than the interest rates that banks offer with recourse, said Christie Jordan, Regional CFO of Alliance Residential – East Coast. during the webinar.

Locust Point launched its first fund in 2016, with $ 312 million in commitments. Since then, the total value of funded transactions in which the company has participated has exceeded $ 2.25 billion.

“Our pace of new investment reflects the huge opportunity we see today in housing and senior care,” CEO and Managing Partner Eric Smith said in a statement.

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