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Buffalo Coal Secures an Additional US$4.0 Million Loan Facility

TORONTO, ONTARIO–(Marketwired – Feb 2, 2015) – Buffalo Coal Corp. (BUF.TO)(JSE:BUC) (“Buffalo” or “the Company”) announces that the Company has signed a term sheet (the “Term Sheet”) to secure an additional US$4.0 million loan facility from Resource Capital Fund V L.P (“RCF”).

Despite the restructuring initiatives which have been implemented throughout the Company during 2013 and 2014 and the financing already secured from RCF, current market conditions and operational performance have necessitated further restructuring and a requirement for additional capital in order to improve operating efficiencies, support the Company’s working capital requirements during the proposed restructuring period and return to profitability, thereby ensuring that Buffalo remains sustainable into the future.

Under the terms set out in the Term Sheet, the US$4.0 million will be advanced as a bridge loan (“the Bridge Loan”), and subject to receiving regulatory and shareholder approvals as may be required (the “Approvals”), will roll over into Buffalo’s existing US$25.0 million convertible loan with RCF (“the Existing Convertible Loan”), under the same terms and conditions except for the proposed amendments to the interest rate and conversion price as set out below and the increased amount available under the loan.

Bridge Loan

The Bridge Loan will be used for capital investments, general working capital and to implement the proposed restructuring process at Buffalo’s operations in Dundee, South Africa, as announced on December 22, 2014. Funds from the Bridge Loan will be available upon satisfaction of the conditions precedent set out in the Term Sheet and will be drawn on an as needed basis.

The Bridge Loan will bear interest at a rate of 15% per annum, payable on the maturity date which is the earlier of the date on which all Approvals are received or June 30, 2015. Subject to receipt of the Approvals, interest will be payable in common shares of Buffalo (“Common Shares”) at a price per share equal to the 20-day volume weighted average price (“VWAP”) as at the date the payment is due.

No establishment fees will be incurred on the Bridge Loan.

Upon receipt of the Approvals, the Bridge Loan will roll into the Existing Convertible Loan (as discussed below). If the Approvals are not received by June 30, 2015, the Bridge Loan and all accrued but unpaid interest due to RCF will be immediately due and payable in cash.

Convertible Loan

Subject to receipt of the Approvals, the Bridge Loan will roll over into the Existing Convertible Loan, resulting in an aggregate US$29.0 million convertible loan facility with RCF (the “Convertible Loan”). The Convertible Loan will have the same terms and conditions as the Existing Convertible Loan, except for the following changes to the interest rate, conversion price and the increased amount available under the loan. The Existing Convertible Loan bears interest at a rate of 12% per annum and is convertible into Common Shares at a price of C$0.1446. Subject to receipt of the Approvals, the interest rate on the Convertible Loan will be increased to 15% per annum and the conversion price will be decreased to C$0.0469, a 25% discount to the 5-day VWAP as at the date prior to the date of release of this announcement.

The Approvals

The issuance of Common Shares to RCF in satisfaction of interest obligations under the Bridge Loan, the conversion of the Bridge Loan, and the adjustment of the interest rate and conversion price on the Existing Convertible Facility are subject to regulatory and shareholder approvals. Buffalo intends to seek approval of its shareholders for these matters at the Annual General Meeting to be held no later than June 30, 2015. As these transactions are related party transactions under Multilateral Instrument 61-101, RCF and its affiliates holding Buffalo Common Shares will not vote on these matters at this meeting.

Other Transaction Terms

The Term Sheet provides that if Buffalo terminates the Bridge Loan or is unable to proceed with the Bridge Loan (other than in instances where Buffalo or any of its subsidiaries are unable to proceed with the Bridge Loan because of the failure to obtain regulatory approvals on the terms set out therein, including, but not limited to, any exchange control approvals or approval by the TSX), Buffalo shall promptly pay to RCF a termination fee of 5.0% of the Bridge Loan amount if the Bridge Loan is not advanced, payable in cash.

The Term Sheet provides that the Bridge Loan will be subject to a number of usual and customary conditions precedent for a transaction of this nature, including the execution of definitive transaction documents and will close on February 28, 2015 or such earlier date as the parties may agree.

About Buffalo Coal

Buffalo is a coal producer in southern Africa. It holds a majority interest in two operating mines through its 100% interest in Buffalo Coal Dundee (Pty) Ltd, a South African company which has a 70% interest in Zinoju Coal (Pty) Ltd (“Zinoju”). Zinoju holds a 100% interest in the Magdalena bituminous mine and the Aviemore anthracite mine in South Africa. Buffalo has an experienced coal-focused management team.

Cautionary Notes:

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the future financial or operating performance of Buffalo and its projects. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Buffalo to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, foreign operations, political and social uncertainties; a history of operating losses; delay or failure to receive board or regulatory approvals; timing and availability of external financing on acceptable terms; not realizing on the potential benefits of the proposed transaction; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of mineral products; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities. Although Buffalo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Buffalo does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

[…]

Avanti Mining Issues Shares in Lieu of Cash for Interest Payable Under Terms of RCF Bridge Loan and RCF …

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug 1, 2014) – Avanti Mining Inc. (TSX VENTURE:AVT) (“Avanti” or the “Company”) announced today that in accordance with the terms of the Amended and Restated Loan Agreement (the “Bridge Loan”) dated July 12, 2013, between Avanti, its wholly-owned subsidiary, Avanti Kitsault Mine Ltd. (“AKM”), CEF (Capital Markets) Limited, Resource Capital Fund IV, LP (“RCF IV”) and Resource Capital Fund VI, LP (“RCF VI”), Avanti has made interest payments in the aggregate amount of US$1,472,222.21 for the period from October 1, 2013 to June 30, 2014 by delivering to RCF IV 13,267,622 common shares and to RCF VI 12,676,066 common shares. In addition, in accordance with the terms of its Preconstruction Loan Agreement dated December 19, 2013 between Avanti, AKM and RCF VI, Avanti has made interest payments in the amount of US$1,102,222.22 for the period from December 20, 2013 to June 30, 2014 by delivering to RCF VI 16,196,231 common shares.

The Company has also paid the Tranche A extension fee of US$500,000.00 and Tranche B establishment fee of US$500,000.00 to RCF IV in accordance with the terms of the Bridge Loan by delivering to RCF IV an aggregate of 21,296,000 common shares. All such shares will be subject to a four-month hold period.

For further information, please visit www.avantimining.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FinanceInvestment & Company InformationLoan Agreement Contact:

Avanti Mining Inc.

Shawn Howarth

Vice President, Corporate Development and Investor Relations

(416) 847-0376

Avanti Mining Inc.

Graham du Preez

Chief Financial Officer

(416) 847-0376

www.avantimining.com […]

St. Louis Treasurer Says Veer Away from Payday Loans « CBS St …

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Foster carer in court over cash loan business that made 'thousands'

A foster carer ran an unlicensed cash loan ‘business’ handing over thousands of pounds to friends before demanding it back with interest, a court heard.

Sandra Lowe, 50, known as ‘Dawn’ is alleged to have made a ‘nice little profit’ running the cash loan and catalogue ‘businesses’ in south Manchester – but the 50-year-old says she acted out of charity.

The mum-of-two, of Hulme , who works as a foster carer for Manchester City Council , denies eight charges of unlawfully engaging in the activities of a consumer credit business without a licence and one charge of blackmail.

Businesswoman Maria Turner, who the court heard was ‘like a sister’ to Ms Lowe, told court that over a seven-year-period she borrowed ‘no more than £50,000’ from her friend to pay mortgage repayments, a tax demands and finance payments on an Audi.

The prosecution say that she ended up repaying £125,000 – and was told she still had £40,000 left to pay back in 2012, in the weeks before Ms Lowe was arrested.

Miss Turner, who runs sandwich shop ‘Mia’s’, at Burleigh Road, Stretford , told the court she now felt an ‘idiot’ for not keeping track of how much she owed Ms Lowe and losing grip of her finances.

She said her financial problems ‘snowballed’ under the ‘enormous pressure’ of running a sandwich shop, a chip shop, an ironing business and nine by-to-let properties.

She said that when her home was repossessed in 2011 she stayed with Ms Lowe, who talked her out of ‘driving off Barton Bridge’.

But she claims that the day after, the defendant made her sign a document saying she still owed her £52,000, despite the fact she had been paying her hundreds pounds a week for several years.

Sobbing, she told court: “When I saw the £50,000 what I owed it kind of sent me to another place. I thought ‘I’ll never do it – I’ll be paying it until I’m seventy.”

It’s alleged that Lowe ‘demanded money with menaces’ between May and July 2012.

Summarising the alleged demands, Miss Turner said: “She said, you better get the money in else I’ll tell your son, I’ll come to the shop and take it out of the till.”

“I was waking up to it and going to bed with it – I was mithered to death”, she said of demands for repayment. Describing the effect of receiving a text from Ms Lowe which read ‘I dont care where it comes from but that £500 needs to go into my account.’

She said: “It was awful, terrible, disgusting. It makes your body shake… you can’t focus, your mind’s in a spin. You want to rob a bank to pay it.”

The prosecution also allege that Ms Lowe ran an unlicensed catalogue business, supplying pals with goods she had ordered from firms such as Kays and Argos at a profit.

Following her arrest, Ms Lowe insisted that she did work for Kays, although the prosecution says the firm has no record of her.

Opening the case, Ben Mills, prosecuting, told the jury: “She says this was all charity work – me loaning money for nothing, me administering all these loans for nothing, Was it out of the goodness of her heart? That’s what you will have to consider in her case.”

Proceeding

More news from the Manchester Evening News

Find out what’s happening where you live with our In Your Area section

Read the Manchester Evening News on your phone – download the Apple MEN App here and the Android MEN App here – and get the paper as an e-edition every morning by subscribing here

[…]

TitleBucks Expands into Smyrna, TN

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Getting a title loan with TitleBucks means you can get the cash you need while maintaining the use of your vehicle.

Smyrna, TN (PRWEB) December 01, 2013

TitleBucks, one of the country’s premier title loan companies, opened its first location in the Greater Smyrna, TN Area on Monday, October 28, 2013. This new location, along with TitleBucks stores across the Southeast, Southwest, and Midwest, offer individuals with little, no, or even bad credit the opportunity to get a cash loan based on collateral, not credit history.

The new store is located next to the Smyrna Bridge at 128 North Lowry Street, Smyrna, TN 37167. Store hours are Monday – Friday from 9:00 a.m. to 7:00 p.m., and Saturday from 10:00 a.m. to 4:00 p.m. and can be reached by calling (615) 625-7945.

“Getting a title loan with TitleBucks means you can get the cash you need while maintaining the use of your vehicle,” said Otto Bielss, Senior Vice President of Operations for TMX Finance. “We encourage individuals who may be in need of instant cash loans to contact the friendly team at our new Smyrna branch.”

About Car Title Loans

A car title loan is a quick way for individuals to obtain the cash they need using their car title, not their credit history. To secure a car title loan with TitleBucks in the state of Tennessee, an individual must have a clear, or lien-free, car title and a government-issued ID. With these items an individual can obtain a car title loan up to $2,500 while still being able to drive their vehicle. Vehicle insurance is not required, there are no credit checks and most loans can be processed in as little as 30 minutes.

About TitleBucks

TitleBucks, a subsidiary of TMX Finance, provides financial products to people without access to traditional credit alternatives. TitleBucks has been a trusted consumer lender for over 14 years, helping thousands of people in getting cash when they need it. Since its inception in 1998, TitleBucks has grown to over 175 stores, spanning 10 states across the Southeast, Southwest, and Midwest, and provides car title loans to hundreds of people each day.

Please visit http://www.titlebucks.com for more information on car title loans and how TitleBucks can be of service.


[…]

Group wants to put cap on payday loan interest rates – WAFB 9 …

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Man forced to dig up wife’s body from front yard

Man forced to dig up wife’s body from front yard

Updated: Friday, November 15 2013 4:29 PM EST2013-11-15 21:29:13 GMT

A Stevenson man is digging up his wife who has been buried in the front yard of their home since 2009, ending his fight to keep her there.
More >>A Stevenson man is digging up his wife who has been buried in the front yard of their home since 2009, ending his fight to keep her there.More >>

I-10 East partially reopened on Atchafalaya Basin Bridge

I-10 East partially reopened on Atchafalaya Basin Bridge

Updated: Friday, November 15 2013 4:02 PM EST2013-11-15 21:02:47 GMT

Multiple crashes on I-10 East between Lafayette and Baton Rouge caused major delays and probably some headaches for drivers Friday morning. Louisiana State Police reported several crashes happened on theMore >>Multiple crashes on I-10 East between Lafayette and Baton Rouge caused major delays and some headaches for drivers Friday morning. Eastbound traffic has been diverted onto US-190 in Lafayette.
More >>

Police say deadly stabbing was self defense

Police say deadly stabbing was self defense

Updated: Friday, November 15 2013 4:41 AM EST2013-11-15 09:41:52 GMT

After further investigation, police Baton Rouge police report that they have determined the death of a stabbing victim was justified on the grounds of self defense.More >>Detectives said they have determined a deadly stabbing Thursday morning was justified on the grounds of self defense.More >>

Karey indicted on lesser charge in shooting death of Lake Charles pastor

Karey indicted on lesser charge in shooting death of Lake Charles pastor

Updated: Friday, November 15 2013 4:48 PM EST2013-11-15 21:48:25 GMT

Woodrow Karey Jr. will face a manslaughter charge instead of a second-degree murder charge in the shooting death of Pastor Ronald Harris Sr. A grand jury met Thursday in 14th Judicial District Court andMore >>A grand jury met Thursday in 14th Judicial District Court and indicted him on the lesser charge. He had been booked on second-degree murder in the case.More >>

Motivational speaker to teens: ‘Dateable girls know how to shut up’

Motivational speaker to teens: ‘Dateable girls know how to shut up’

Updated: Friday, November 15 2013 11:37 AM EST2013-11-15 16:37:15 GMT

RICHARDSON, TX (RNN) – Students at one Texas high school didn’t enjoy their assembly Wednesday, and it wasn’t because they missed classes. Faith-based motivational speaker Justin Lookadoo gave a motivationalMore >>A motivational speaker’s presentation about the rules of dating to a Texas high school prompted social media outcry from many students.
More >> BATON ROUGE, LA (WAFB) –

According to a new survey by the American Association of Retired Persons, Louisiana’s population favors stronger consumer protection laws when it comes to payday loans. AARP is proposing a cap on interest rates charged by payday loan companies.

“I think right now it’s an issue because you have a lot of organizations that realize the harmful effects that payday loans have on the population that they serve. We have a lot of pastors tell us that their church members that are caught in payday loan cycles. AARP says there is a lot of seniors that are caught in payday loan cycles. Even college professors tell us that there are students that are caught in payday loans, says David Greg of The Louisiana Budget Project.

“Two-thirds of people who take out payday loans wind up recycling that payday loan, which means they have to go back and take out a second loan to pay the first loan and a third loan to pay off the second loan,” says Greg.

“Eventually a person in Louisiana who takes out a one hundred dollar loan will pay $270 in fees. They are highly prevalent in Louisiana. For every McDonalds you see on the corner, there’s four payday lenders in that neighborhood. So they outnumber McDonalds four to one, so they’re here and their goal is to try and trap people into long-term cycles of debt,” he says.

AARP Director of Advocacy Andrew Muhl agrees something needs to be done. “There are several states that have banned the practice entirely. We’re not looking at that were looking at simply providing a cap on interest rates,” says Muhl.

Copyright 2013 WAFB. All rights reserved.

[…]

Creative Ways To Finance All Cash Offers

For those looking to make an all cash offer on a property, but do not have the necessary funds ready available, there are some creative ways of financing the money that are worth considering. NY1’s Jill Urban filed the following report.

When buying a home, cash is king.

These days, more all cash offers are being accepted than ever before, leaving many to wonder where all these buyers are getting theirs pots of gold.

“In many cases, an all cash offer isn’t really all cash,” says Jason Auerbach from First Choice Loan Services. “While the seller may be receiving a single check at the closing table, there are many creative ways that people are going about in order to make sure that money is there at the closing table and then later is replaced by a traditional mortgage.”

Auerbach says there are some very creative ways buyers can actually finance an all cash offer, and he’s seeing it more and more.

“In today’s market, we have a lot of people who will get something called a pledged asset loan,” Auerbach says. “They borrow against the monies that are already in the bank. They get that at a very low interest rate, it allows them to close quickly, they buy the apartment ‘for cash,’ and then afterwards they can seek a regular mortgage.”

The pledged asset loan has a floating rate that changes monthly, so most get a regular mortgage, because the rate is more stable.

For those buying a home at the same as selling another, it is possible to get a bridge loan.

“A bridge loan is an excellent option for someone who is selling their home and wants to use the cash from that sale in order to buy a new apartment,” Auerbach says. “You can generally borrow between 50 and 60 percent of the value of the home that you’re selling, and use it to purchase the new home.”

Bridge loans, however, are only for a short period of time and have high rates.

Auerbach also says nowadays many people are getting money from parents or other family members to help front the cash.

Then, they are getting a traditional mortgage after the closing to recoup their assets.

For those who have the cash but don’t want to deplete their accounts, there is also something called a “technical refinance.”

“The technical refinance is if you buy an apartment for all cash, and you want to quickly reimburse yourself, you can now go back into the market immediately after closing and
get a mortgage,” Auerbach says.

So, bottom line, for those that don’t have a pile of cash, but are sick of losing out on apartments to those who do, it may be worth looking into creative ways to finance, which could help make an offer that is right on the money.

[…]

Madonsela probes loan scheme

The public protector, Thuli Madonsela, will conduct a preliminary investigation regarding claims that the company Cash Paymaster Services (CFS) is operating an illegal loan scheme.

According to I-Net Bridge, the Democratic Alliance asked Madonsela to conduct a probe after reports emerged of CFS, which won a multimillion rand tender in 2012 to administrate and distribute social security grants across the country, operating a loan scheme that targeted vulnerable social grant recipients.

Madonsela’s spokesperson, Kgalalelo Masibi, said that the public protector would do an extended assessment and a preliminary investigation. I-Net Bridge quoted her as saying: “Then she needs information from the chairperson of the task team of director generals, and she also needs to speak to three other people, whose names she won’t disclose at this stage.”

According to I-Net Bridge some reports suggested that the interest rates on some of the illegal loans were as high as 50 percent.

[…]

Councils need to crack down on payday loan companies

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In Lambeth, Speedy Cash operatives dressed as kangaroos hand out leaflets, some to children who are barely old enough to walk. Photograph: Ed Davie

The booming payday loan industry demonstrates a fundamental failure to protect our most vulnerable citizens from exploitation. Lenders who charge massive multiples of interest dominating our high streets is bad enough, but now some payday loan companies are aggressively marketing via children and pushing standards to a new low.

In Lambeth’s deprived Coldharbour and Ferndale wards, Speedy Cash operatives dressed as cuddly kangaroos hand out sweets and balloons to children, along with leaflets advertising its loans, which typically charge more than 1,400% APR. They presumably hope the children, some barely old enough to walk, will deliver their leaflets into the hands of financially hard-pressed parents.

Although extortionate payday loans are legal, distributing non-political or religious leaflets without a local authority permit is not, under the Environmental Protection Act 1990. Having been told by council officers that they had written to Speedy Cash telling it to stop, I was incensed to see the kangaroo candy man still approaching children outside its Brixton shop.

To get the Brixton branch to stop there and then, without a letter, I had to threaten to get a police officer. In the shop, one customer, a nurse, told me, forlornly, that she knew she was being ripped off but no one else would give her credit, even though payday loan shops are meant to abide by the same lending rules as banks, building societies and credit unions.

This week, council licensing officers visited Speedy Cash to reinforce my message that it cannot advertise loans in this way. In the near future Lambeth’s healthier high streets commission, set up to help residents make better informed choices when looking for a short-term loan, will report with measures to prevent new payday loan shops.

There is a very good case to refuse these shops planning permission on the grounds that they are unsustainable development. This is where planning officers could take more of an active role. The Local Government Act 2000 says that every local authority has the power to ensure “the promotion or improvement of the economic [and social] wellbeing of their area”.

Evidence suggests that, apart from impoverishing customers who might otherwise support neighbouring businesses, payday loan shops push up rents, making other sorts of less profitable shops unviable. Neighbouring Southwark’s recent attempt to use these grounds for blocking a payday loan shop in London Bridge failed on appeal because it was decided there was a lack of evidence to support this unsustainable development argument.

With a concerted effort, perhaps through the Local Government Association or London councils, I think we could easily collect enough evidence to exclude future loan companies charging extortionate interest rates.

In some US states it is either illegal or not feasible, given state law, to offer high-rate payday loans. Since 2007, a federal law has also capped lending to military personnel at a maximum of 36% APR.

English councils do not have this power, but the House of Lords recently recommended a cap on interest rates to the government. While we wait for time in the legislative programme, we in local government should take what action we can to restrict these drains on our local economy.

However, any action by a council to block, shut down or regulate payday loan companies more tightly must be accompanied by giving potential customers more options for borrowing and support in avoiding debt and poor choices in the first place.

I have been working with policy officers in Lambeth’s welfare team to support our residents to make better financial choices. The answer is to build people’s financial resilience, giving them proper sustainable choice and banking facilities while cracking down on those who would exploit them, legally or otherwise.

If we crack down on free-for-all legal lending without providing a decent alternative and financial education, we will push people into the even less forgiving arms of illegal loan sharks. It would be a sad irony if we managed to control the kangaroos of this market but instead fed the sharks.

Councillor Ed Davie is chair of Lambeth council’s health and adult social care scrutiny committee

This content is brought to you by Guardian Professional. Join the local government network for comment, analysis and best practice direct to you

[…]

Choosing The Right Company For Your Cash Advances | Best …

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Payday loans can be either a blessing or a curse. If it is going to be a blessing, you must know as much as you can about a 1 hour affordable payday loan,easy cash advance loan with monthly payment no doc. You’ll be able to tilt the odds in favor of a positive outcome if you go into the experience well-informed; this article can help you get up to speed.

If you are self-employed, secured personal loans are better options that payday lending. This is due to the fact that payday cash advances are not often given to anyone who is self-employed. Payday lenders require documentation of steady income, and freelancers can rarely provide this, meaning proving future income is impossible.

Remember that the money that you borrow through a payday loan is going to need to be repaid quickly. You need to understand that the money to pay back the loan will be due to the company on your next pay date, usually two weeks. The only time that you might have a little longer is if you get the loan very close to your next scheduled paycheck. The loan will actually be due the following payday, to give you a reasonable amount of time to repay the loan amount back.

TIP! Build a good relationship with your loan firm. This will allow you to borrow again in the future, should the need arise.

Find out what the lender’s terms are before agreeing to a 1 hour affordable payday loan,easy cash advance loan with monthly payment no doc. Lots of loan companies require for you to be employed for a minimum of three to six months. The reason for this is because they want to ensure you are a reliable borrower.

If you have to resort to a 1 hour loan pay day, take the time to shop around. You may feel pressured by your financial situation to get the money fast. If you take just a little time to do research, you can find a loan with a lower rate than others. This saves you a lot of time in the end on higher interest rates that you would have had to pay.

Don’t overuse payday loans. Credit counseling may be up your alley if you are always applying for these loans. Lots of people have resorted to bankruptcy due to their reliance on cash advances. You can avoid this by never taking any out.

Not only do you have to worry about the fees and interest rates associated with payday loans, but you need to remember that they can put your bank account at risk of overdraft. A bounced check or overdraft can add significant cost to the already high interest rates and fees associated with payday loans.

TIP! Avoid applying for a payday loan through the phone. You might need to do an application online.

Payday loans can provide a solution to people who desperately need cash and have no other options. People just need to know as much as they can about their loan before they accept the loan and get the money. These loans have high interest rates, and the fees involved can cause them to be difficult to repay.

Do not just get your bridge loan from the first $1000 payday loans service that you come across. Although you may know where they are located, be sure to check your local listings on where to get lower rates. Just a few minutes of research can save you hundreds of dollars.

Payday Loans

Take the time to do some research. Find a lender that fits you well. Get information on other companies to find a lower rate. Although this could be time consuming, you will probably end up saving tons of money. You may even be able to locate an online site that helps you see this information at a glance.

TIP! You can take a break to re-evaluate your actions and your financial situation at any point in the payday loan application process. It’s important that you are certain about what you need and what you’re getting before you make a commitment.

Prior to applying for payday loans, ensure you have exhausted all other possibilities. You may want to ask friends or family to borrow the funds; if not, try the bank. If you can, you won’t have to get a $1000 payday loans. Such loans ought to serve as a final resort, and should be used only in true emergencies.

If you need a 1 hour loan pay day, be sure it’s paid back completely with your next check or the loan’s due date. It is vital that you do not roll over the loan again. By paying back your loan on your next payday, you will minimize the amount of interest you paid.

There are various methods that $1000 payday loans companies employ to get around usury laws put in place for the protection of consumers. They’ll charge fees that amount to the loan’s interest. This can increase the interest to exorbitant amounts.

A work history is required for pay day loans. Three months of stable work is what many lenders expect before they give you a loan. You’ll need to have some sort of employment verification, such as a pay-stub.

TIP! The average APR for a payday loan is around 650 percent. This differs between states, but the average nationally is that rate.

As mentioned earlier, obtaining payday cash advances can be a blessing or a curse. If you know a lot about this, you might win with a 1 hour affordable payday loan,easy cash advance loan with monthly payment no doc. The guidance in this piece should provide you with the insight you need.

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