FILE PHOTO: The European Central Bank (ECB) headquarters building is seen in Frankfurt, Germany July 20, 2017. REUTERS/Ralph Orlowski FRANKFURT (Reuters) – Eurozone banks expect demand for emergency credit to rise again in the second quarter and are expected to respond with looser credit standards as government guarantees and Liquidity measures will come into effect, […]
It’s been almost four years since Fannie Mae and Freddie Mac announced they are changing the standard mortgage application form for the first time in 20 years, but it will be another 11 months before the mortgage industry is required to use the new uniform residential loan application. Fannie and Freddie announced last week that […]
Since the launch of the Paycheck Protection Program on April 3, 2020, until the original committed funds were exhausted on April 16, 2020, 4,975 lenders have approved loans to more than 1.6 million small businesses for more than $342 billion. On April 17, the SBA released a report on the Paycheck Protection Program with additional […]
PORTLAND, Oregon., April 16, 2020 /PRNewswire/ — Eastside Distilling, Inc. (NASDAQ: EAST) (“East Coast“) and Craft Canning + Bottling, LLC, a subsidiary of East Coast (“Craft Canning”, and with East Coastthe “Company”), today announced that it has entered into loan agreements with Live Oak Banking Company (“Live Oak Bank”) under the Paycheck Protection Program (“PPP”) […]
April 14, 2020March 31, 2021pay for collegeFeatured, Student Loans932Susan Shain Updated April 14, 2020 When it comes to borrowing for college, federal student loans should usually be your first stop. But you can’t borrow that much, since the federal government has a maximum student loan amount of $31,000 for dependent undergraduate students and $138,500 for […]
All categories of small business lenders take a nosedive as coronavirus wreaks havoc on economy Until the coronavirus pandemic hit the United States, small businesses were thriving and creating jobs, unemployment was at a 50-year low, consumer confidence was high, and in general the U.S. economy was sluggish. as strong as it has ever been […]
Opinions expressed by Contractor the contributors are theirs. Many small business owners complete their Paycheck Protection Program (PPP) loan applications and run into common questions and hurdles. The immediate question currently revolves around two issues: First, how do I work with my bank or find a bank to submit it to? And secondly, how to […]
Officials across the U.S. banking industry rushed overnight to roll out a massive new government-backed lending program to help small businesses ravaged by the coronavirus pandemic and many have not been able to make it happen before Friday’s deadline given that the Treasury Department released its lending guidelines late Thursday night. The $350 billion federal […]
DALLAS–(BUSINESS WIRE)–Long-time global leader in credit risk management and digital lending, GDS Link, has announced the launch of an online digital loan application for the U.S. Government Payroll Protection Program. The app will allow banks to immediately support their small business customers with a digitized lending experience, removing the need to complete a paper application […]
Borrowing money is a common thing today. You don’t have to be a poor person to take out a personal loan. Even the wealthiest people borrow money. You should be free to borrow money as long as you have a good reason to do so. The common idea is that you should only borrow when […]
When your loan application is rejected, you will need to review your finances and determine where you can improve. (iStock) Regardless of why you applied for your loan, the process can be a bit nerve-wracking, especially if you’re not sure your lender will approve your application. If your lender refuses your request, you may feel […]
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SILICON TRACKS, Utah, November 20, 2019 /PRNewswire/ — Lendio, the nation’s largest business lending marketplace, today released a new report on small business lending in the Northeast. According to the report, business owners in the North East have the highest business loan approval rates in the country. The results are based on small business loan […]
Thinking of applying for a personal loan? Here are the odds of you being approved. Personal loans can be a cost-effective way to borrow. The interest rate on personal loans is often lower than the rate you would pay on other types of debt, such as credit card debt. And you can use the personal […]
In a review of 30,000 small business loan applications sorted by industry over the past year, Biz2Credit surprisingly found that food service and accommodation businesses had the highest loan approval rates highest (51%) in 2018 compared to retail, healthcare, and professional and personal services. According to the study, food and lodging businesses, including hotels, caterers […]
Applying for a personal loan is generally quick and easy, as it is an unsecured financing solution. You can apply online in minutes. However, lenders grant the loan based on certain criteria to ensure that you do not miss repayment. Generally, a good rule to follow is to meet the lender’s eligibility criteria. While this […]
In the initial phase of the digital journey, the target was the urban market, but later HDFC Bank decided to also tackle the semi-urban and rural pockets. Behind all this, the objective was to expand the business and break the myth of the so-called base effect, which slows down the growth rate of […]
The new St. George Bank Home Buying Survey has found that 1.1million Australians compare the excitement of being approved for a home loan to winning the local meat platter raffle . The application process for first-time home buyers, on the other hand, is stressful (51%) and overwhelming (42%). The study also found that Australians who […]
Your credit score isn’t the only factor that lenders consider when deciding whether to approve you for a personal loan. Image source: Getty Images. Your credit score isn’t the only factor lenders consider when deciding whether or not to approve you for a personal loan. When applying for a personal loan, you want to maximize […]
Several people opt for personal loans for various aspects in which one has to meet a variety of financial requirements. The reasons can vary between vacation expenses, payments for higher education, medical bills or any other unforeseen expense that may weigh on the pockets of the individual. Since all other people live hectic lives, it […]
The Biz2Credit Small Business Lending Index for May 2018 reports record loan approvals by banks and institutional lenders. Biz2Credit Loan Index May 2018 The record highs reflect a strong US economy and job growth. The Bureau of Labor Statistics reports that the unemployment rate is currently 3.8%. And wage growth is also seeing the highest […]
Calculating your chances of getting a car loan has become much easier over the years with online tools, like our car loan estimator. However, you must provide accurate information to obtain reasonable estimates. Otherwise, your results will be just a stab in the dark. Why it’s important to know your information Accuracy is important or […]
The 6.1% interest rate on student loans sparks outrage. Rightly so – with a base rate of 0.5% from the Bank of England, charging students 6.1% is outrageous. But the 6.1% rate is just the tip of the iceberg. Because not only are students charged, but the rate is compounded monthly – a mechanism that […]
There are never any guarantees in life, but there are ways to help you get the auto loan you need, even with bad credit. Steps to Ease Your Car Loan Problems Getting a car loan is something you need to be prepared for. Although the requirements you will need to meet will vary by lender, […]
If you are based in New Jersey, you are more likely to be approved for a small business loan. That’s according to a new report from Biz2Credit, which identified New Jersey as the best state for small business loan approval rates. The report found that nearly a quarter (23.4%) of financing requests made by New […]
The latest findings from Experian show that consumers continue to lengthen the terms of their car loan, which is a worrying trend.
What is the maximum loan amount? A maximum loan amount, or loan limit, describes the total amount of money an applicant is allowed to borrow. Maximum loan amounts are used for standard loans, credit cards, and line of credit accounts. The maximum will depend on several factors, including the creditworthiness of the borrower, the term […]
Just because of related myths, consumers generally overlook banks as a financing option when looking for an auto loan. Obtaining a car loan from the bank has become equally fast and economical. Financing your car through a bank benefits you in several ways, including a lower interest rate, saving money, longer repayment terms, and more. […]
NAB today officially launched a new, simpler, easier and more convenient way for customers to get conditional approval for a home loan. NAB goAHEAD allows NAB customers to request conditional approval for a new home loan online 24/7 and receive an instant response. “We save our clients time and stress, and help them bid on […]
It is possible for a consumer with bad credit to get approved for a car loan. These buyers normally only have to go through a dealer who works with special lenders. However, certain conditions must also be met for a borrower to qualify for a bad credit car loan.
The length of time it takes to be considered for an auto loan depends on the lender you work with. However, there are a few general guidelines that most subprime lenders stick to when it comes to approving an auto loan. If you have poor credit, job stability is a key factor in qualifying for […]
Many of our applicants and potential applicants want to know what their subprime auto loan approval amount will be before they even walk into a dealership. We are unable to tell them.
Big banks have long been accused of turning a blind eye to the credit needs of small businesses, but things are looking up now. According to the March 2016 Biz2Credit Small Business Lending Index, monthly analysis of more than 1,000 small business loan applications on Biz2Credit.com, loan approval rates at major banks and institutional lenders […]
For eligible US home buyers, the VA loan may be the best mortgage choice for a purchase. Backed by the U.S. Department of Veterans Affairs and made possible by the GI Bill, the VA Loan allows no down payment, requires no mortgage insurance, and gives applicants access to flexible mortgage guidelines. Also, VA mortgage rates […]
GETTING approved for a mortgage loan is not easy. The level of information required is vast and the whole process takes a long time. That means it’s a process that should only be undertaken by well-organized people, advises Ciaran Phelan, chief executive of the Irish Brokers’ Association. “The level of information required is vast. Be […]
Last June saw an increase in the number of banks approving small business loan applications, compared to the same period last year, according to recent research from Biz2Credit, an online lending marketplace. The study showed that big banks – financial institutions with assets of more than $10 billion – approved 20% of loans to small […]
DOHA: Amid reports of impending reforms to sponsorship law, banks here are preparing to tighten loan terms for expatriates. A leading banker has revealed that banks have sought approval from the Qatar Central Bank (QCB) to toughen the conditions for providing personal loans to expatriates under a liberalized sponsorship and exit permit regime.Discussions with the […]
DOHA: Banks have been told to offer easier repayment terms to citizens who took out loans to apply for a now-terminated state-sponsored equity offering.A large number of nationals, including women, have resorted to bank loans to apply for the initial public offering (IPO) of Mesaieed Petrochemical Holding Company (MPHC).Subscription for the IPO, which was only […]
SALAMANCA at Philadelphia Furniture will be able to take on a long-sought loan on its Rochester Street facility. The Salamanca Industrial Development Agency board agreed on Tuesday to allow the company to resume payments on a former loan from Fancher Furniture Co., freeing up Bruce Erickson, who previously bought out his brother’s share Brian. Philadelphia […]