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The use of our product enables our customers to stay ahead of their competition. We are looking forward to a long-term relationship with the bank’s analytical teams and managers
Tel Aviv, Israel (PRWEB) November 21, 2014
Earnix, a leading provider of integrated pricing and customer analytics solutions for banking and insurance, announced today that Moscow-based Home Credit and Finance Bank, has selected the Earnix Banking solution to enhance the bank’s analytics capabilities and optimize its strategies for its cash loan portfolio.
The Earnix platform helps banks eliminate the “guesswork” when it comes to decision making. Earnix Banking predicts, simulates and optimizes customer interactions to efficiently achieve business goals such as profitability, market growth or long-term customer retention. Home Credit will be implementing the Earnix Banking solution as part of a two phase project, beginning with data analytics and modeling, followed by optimization of its cash loan portfolio and field testing.
“We are extremely proud that Home Credit & Finance Bank, the leading player in POS finance in Russia, selected the Earnix software”, said Amitai Ratzon, VP of Sales at Earnix. “The use of our product enables our customers to stay ahead of their competition. We are looking forward to a long-term relationship with the bank’s analytical teams and managers”.
About Home Credit & Finance Bank, LLC
Apart from a full range of consumer lending products HCFB offers current and saving accounts and a comprehensive range of deposit products, including salary accounts. Having a vast client database, HCFB is successfully utilizing its cross-selling opportunities to further expand its coverage. HCFB utilizes direct mail, telemarketing, on-line sales and various forms of partnerships (e.g. agreements with insurance providers in Russia, third party brokers or via direct collaborations with employers).
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Published: Thursday, November 20, 2014 at 10:23 p.m.
Last Modified: Thursday, November 20, 2014 at 10:23 p.m.
The holiday shopping season is coming up, and people in search of some quick spending capital might strongly consider taking out a payday loan. Think about it — it’s a quick source of cash without the need for the credit checks. It sounds too good to be true.
That’s because it is.
More than 19 million people struggling with their finances take out one of these unsecured personal loans each year without seeing the danger signs pointing to their finances, like insanely high, triple-digit interest rates.
Before funding your post-Black Friday Christmas shopping with a payday loan, look at some of these simpler — and reasonably safer — ways to get some money fast.
1. Take out a payday alternative loan.
Yes, these actually exist. Veridian Credit Union, for example, offers a payday alternative loan with a maximum loan amount of $1,000 and a six-month repayment term at an interest rate of about 20 percent (usually regardless of a borrower’s credit score). While not the lowest interest rate, it’s more manageable than the high interest and short repayment terms of a payday loan. Another option is to consult with your bank or credit union about a small personal loan with better security, terms and interest.
2. Get a cash advance from your credit card.
Another similar yet less expensive option is to contact your credit card carrier for a modest cash advance. Again, the interest rates might not be the lowest, but this time, you’re borrowing against your own credit limit and not some third-party payday provider. If the cash advance option seems too insurmountable to you, simply use your credit card for your holiday shopping and avoid using it again until you’ve paid down your balance.
3. Withdraw from your emergency fund.
If the added interest of using your credit card is too much to deal with, you can always try taking just enough cash from your emergency fund to cover holiday shopping expenses. Since you act as your own lender here, this loan is entirely up to you to repay — but financial discipline is important. Let too much time go by, and you might never get around to replenishing what you borrowed, and you might not have enough money if a real emergency arises.
4. Ask your employer for an advance.
Your job might permit you a cash advance taken from your next paycheck. It’s not a loan, so you won’t have to deal with interest or repayment because it’s money that you have earned. However, keep in mind that if you ask for $200, be prepared for your next paycheck to reflect that difference. It’s also wise not to make a habit of asking for cash advances. Request some holiday overtime; the extra hours can yield you some extra cash.
5. Sell, pawn or auction off unwanted belongings.
Now’s a better time than ever to sell some of those old things taking up space in your house. It could be anything from a used cellphone to furniture, vintage clothing, appliances and more. Go the online route, like eBay, Amazon Marketplace or Craigslist. Visit local pawn shops or thrift stores and see what they’ll offer for your items.
6. Reduce your spending.
In the spirit of the holidays, is there anything you can temporarily cut back on — or eliminate entirely — to gain some Christmas cash? Put your gym membership on hold for a month or two, cook at home more than eating out, and save on gas by taking public transportation. Aim to spend less disposable income on clothes and entertainment. Some financial experts even suggest adjusting the tax withheld from your paycheck so you’ll have more cash available now versus later.
7. Open a holiday savings account.
This is not a source of “quick” money per se, but if you’re in a cash crunch this holiday, open a savings account designed to save money for holiday shopping. Your bank or credit union of choice might have its own version that can give you higher interest and generous deposit limits. Start now and have plenty of reserve money available by Christmas 2015.
Use these tips as a start and brainstorm some more ways you might be able to save money during the holidays. Asking a friend or family member to lend money can be a good option during a financial crunch or crisis, but it’s not always recommended. Borrowing from parents or siblings and then using that money to purchase gifts for them isn’t very considerate.
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RESEARCH TRIANGLE PARK, N.C.–(BUSINESS WIRE)–
NephroGenex, Inc. (NRX), a pharmaceutical company focused on the development of therapeutics to treat kidney disease, announced today that it has closed on a $12 million term loan facility with East West Bank. Funds from the term loan will be utilized for working capital purposes, including the advancement of the Company’s clinical development programs.
Terms of the $12 million loan facility include an immediate $7 million draw, with the additional $5 million available upon the achievement of certain milestones before the end of May 2015. Following the closing of the loan, management expects the Company’s cash position to be approximately $31 million, extending its cash runway further into 2016. The bank facility matures in 2018.
“We are taking this opportunity to strengthen our balance sheet at attractive terms, as we execute on our pivotal Phase 3 program with Pyridorin in diabetic nephropathy,” said Chief Executive Officer Pierre Legault. “This financing gives the Company greater flexibility in reaching an expected successful interim analysis and evaluating options for additional financing or partnering during 2016.”
For more information regarding the term loan facility, see the Company’s Current Report on Form 8-K filed on November 20, 2014.
About Diabetic Nephropathy
Diabetic nephropathy is a chronic, degenerative disease of the kidney caused by diabetes. There are approximately 6 million patients with diabetic nephropathy in the United States (approximately 33% of diagnosed diabetics) and this population is expected to grow. Patients suffering from diabetic nephropathy progress to End Stage Renal Failure (and require dialysis) or death. There are currently no adequate treatments for this disease.
Pyridorin inhibits pathogenic oxidative chemistries, which are collectively elevated in diabetic patients and induce pathological changes implicated in the development of diabetic nephropathy. Pyridorin inhibits a broad range of these chemistries which we believe accounts for its effectiveness in slowing the progression of nephropathy in diabetic patients as shown in our Phase 2 studies. Our lead drug candidate was also found to be safe and well tolerated in these same studies.
About NephroGenex, Inc.
NephroGenex (NRX) is a clinical-stage pharmaceutical company focused on developing therapeutics to treat kidney diseases caused by pathogenic oxidative chemistries. Since our inception, we have collaborated with the leading scientific experts in pathogenic oxidative chemistries to build a strong portfolio of intellectual property and novel acting drug candidates. Our clinical program has been done in collaboration with world leading clinical investigators in kidney disease. Our product pipeline includes an oral formulation of Pyridorin, which is being developed as a chronic, therapeutic agent to slow the progression of diabetic nephropathy, as well as an intravenous formulation of Pyridorin to treat specific types of acute kidney injury.
Cautionary Note on Forward-Looking Statements
This press release contains certain statements that are, or may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “will,” or words of similar meaning and include, but are not limited to, statements regarding the outlook for our future business and financial performance. Forward-looking statements are based on our current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially from those in the forward-looking statements due to global political, economic, business, competitive, market, regulatory and other factors and risks, including the items identified under “Part I—Item 1A—Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2013, filed with the Securities and Exchange Commission (“SEC”) on March 31, 2014, as well as in other filings that we may make with the SEC in the future. The forward-looking statements contained in this press release reflect our current views with respect to future events, and we do not undertake and specifically disclaim any obligation to update any forward-looking statements.
HealthDisease & Medical Conditionskidney diseasediabetic nephropathypharmaceutical company
The Trout Group
Michael Levitan, 646-378-2920
Susan Duffy, 646-513-3119
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