Categories

A sample text widget

Etiam pulvinar consectetur dolor sed malesuada. Ut convallis euismod dolor nec pretium. Nunc ut tristique massa.

Nam sodales mi vitae dolor ullamcorper et vulputate enim accumsan. Morbi orci magna, tincidunt vitae molestie nec, molestie at mi. Nulla nulla lorem, suscipit in posuere in, interdum non magna.

Lenders play it safe amid China property woes

Thumbnail

Lenders are expected to stay cautious towards China’s cash-strapped property sector as Shenzhen-based developer Kaisa’s debt woes continue to rattle the market. But they will continue to lend to larger mainland companies.

“Companies from China will remain a major source of business for loan markets this year,” said Sonia Li, head of syndicated loans for Asia at JP Morgan. “But you will see a flight to quality for Chinese borrowers, particularly in light of what is happening in the real estate sector. Lenders will be very cautious to the real estate sector,” she added.

China has become a bigger part of Asia’s loan markets. According to Thomson Reuters data, China was the largest driver for loan growth in the Asia-Pacific region last year, accounting for $141.3 billion in loan volume or about 27% of the total in the region. Infrastructure, project and real estate deals accounted for slightly more than two-thirds of that volume.

Given the increasing exposure banks have to Chinese property, a protracted downturn could have a knock-on effect on the banks. “A lot of mid-sized and big Chinese banks as well as foreign banks have exposure to the China property sector. A big downturn in China real estate market would affect everyone but the mainland banks have the most exposure to the property market,” said Christine Kuo, senior credit officer at Moody’s.

For now, however, the rating agency views Kaisa’s problems as being unique to the company and, at a briefing in Hong Kong on Tuesday, Simon Wong, Moody’s senior credit officer, told reporters that he didn’t think the Shenzhen’s developer’s problems would pose a systemic risk to the sector.

“If the Kaisa case is resolved satisfactorily, such as another developer coming in and potentially buying Kaisa’s assets at fair market value, I think that would also help to ease investors’ concerns,” Wong told reporters.

related

Kaisa given respite but is still in the doghouse Kaisa default triggers broader loan worries Agile woe compounds China’s property problems Cofco Land plans up to $500m placement Loan Week, February 13-18

For now though, investors and lenders are giving the sector a wide berth.

Kaisa had been subject to unexplained bans imposed by the Shenzhen government on the sale of its property projects in Shenzhen. Reports had been circulating that other developers including Fantasia and China Overseas Land & Investment have faced similar bans but the companies have since clarified that the blocked sales are due to administrative procedures by the authorities, and not violations by the companies.

Lenders could also turn wary towards small-cap companies. “China is an important market but we expect more large-cap and higher grade companies this year compared to last year given the concerns over the mid-cap sector,” said Amit Khattar, head of syndicated loans for Asia at Deutsche Bank.

Subordination risk

Kaisa’s problems expose the risks that offshore lenders face. It had initially defaulted on a $51 million loan with HSBC. While it subsequently got a waiver from the British lender, other creditors have frozen some of its onshore bank accounts, and if it came down to a default, onshore lenders would get first dibs on the assets.

Offshore lenders are often subordinated to mainland lenders as the loans are typically issued through offshore holding companies, using the so-called red chip structure.

China’s State Administration of Foreign Exchange (Safe) has made moves to take away some of that subordination risk and, in July last year, relaxed the rules to allow mainland companies to use onshore assets as collateral when raising funds offshore. However, there are restrictions, and Safe has made it clear that the proceeds have to be kept offshore.

“The change in Safe rules means that offshore lenders can get senior secured access to Chinese companies rather than just a red chip structure,” said Khattar. “It is a meaningful development but the number of companies using this has been limited by restrictions over the use of proceeds,” he added.

Lenders have been comfortable lending to offshore holding companies, provided they are perceived to be a strong credit. For example, smartphone company Xiaomi last year tested the market with a debut $1 billion loan, which attracted 29 lenders. Xiaomi is cash rich, with no onshore borrowings.

However, weaker companies are expected to come under more scrutiny now. “Lenders have become more comfortable with loans using offshore holding company structures,” said Deutsche Bank’s Khattar. “But they will be more wary about certain credits,” he added.

This year could be a more challenging one for mainland companies as Taiwanese lenders are keen to keep their exposure to mainland companies down, and could look to diversify to Indian or Southeast Asian companies. “Taiwanese banks were big investors for China loans in the past but they have pretty tight China limits at the moment,” said JP Morgan’s Li.

But amid ongoing market volatility, more companies could start tapping the loan markets as bond yields have risen. “Bond market volatility specially in the high yield market could see more high yield issuers trying to access the loan markets in 2015,” said Khattar.

¬ Haymarket Media Limited. All rights reserved.

Email this Print this Tweet this Send us your tips […]

Flight to safety for lenders amid China property woes

Thumbnail

Lenders are expected to stay cautious towards China’s cash-strapped property sector as Shenzhen-based developer Kaisa’s debt woes continue to rattle the market. But they will continue to lend to larger mainland companies.

“Companies from China will remain a major source of business for loan markets this year,” said Sonia Li, head of syndicated loans for Asia at JP Morgan. “But you will see a flight to quality for Chinese borrowers, particularly in light of what is happening in the real estate sector. Lenders will be very cautious to the real estate sector,” she added.

China has become a bigger part of Asia’s loan markets. According to Thomson Reuters data, China was the largest driver for loan growth in the Asia-Pacific region last year, accounting for $141.3 billion in loan volume or about 27% of the total in the region. Infrastructure, project and real estate deals accounted for slightly more than two-thirds of that volume.

Given the increasing exposure banks have to Chinese property, a protracted downturn could have a knock-on effect on the banks. “A lot of mid-sized and big Chinese banks as well as foreign banks have exposure to the China property sector. A big downturn in China real estate market would affect everyone but the mainland banks have the most exposure to the property market,” said Christine Kuo, senior credit officer at Moody’s.

For now, however, the rating agency views Kaisa’s problems as being unique to the company and, at a briefing in Hong Kong on Tuesday, Simon Wong, Moody’s senior credit officer, told reporters that he didn’t think the Shenzhen’s developer’s problems would pose a systemic risk to the sector.

“If the Kaisa case is resolved satisfactorily, such as another developer coming in and potentially buying Kaisa’s assets at fair market value, I think that would also help to ease investors’ concerns,” Wong told reporters.

related

Kaisa given respite but is still in the doghouse Kaisa default triggers broader loan worries Agile woe compounds China’s property problems Cofco Land plans up to $500m placement Loan Week, February 6-12

For now though, investors and lenders are giving the sector a wide berth.

Kaisa had been subject to unexplained bans imposed by the Shenzhen government on the sale of its property projects in Shenzhen. Reports had been circulating that other developers including Fantasia and China Overseas Land & Investment have faced similar bans but the companies have since clarified that the blocked sales are due to administrative procedures by the authorities, and not violations by the companies.

Lenders could also turn wary towards small-cap companies. “China is an important market but we expect more large-cap and higher grade companies this year compared to last year given the concerns over the mid-cap sector,” said Amit Khattar, head of syndicated loans for Asia at Deutsche Bank.

Subordination risk

Kaisa’s problems expose the risks that offshore lenders face. It had initially defaulted on a $51 million loan with HSBC. While it subsequently got a waiver from the British lender, other creditors have frozen some of its onshore bank accounts, and if it came down to a default, onshore lenders would get first dibs on the assets.

Offshore lenders are often subordinated to mainland lenders as the loans are typically issued through offshore holding companies, using the so-called red chip structure.

China’s State Administration of Foreign Exchange (Safe) has made moves to take away some of that subordination risk and, in July last year, relaxed the rules to allow mainland companies to use onshore assets as collateral when raising funds offshore. However, there are restrictions, and Safe has made it clear that the proceeds have to be kept offshore.

“The change in Safe rules means that offshore lenders can get senior secured access to Chinese companies rather than just a red chip structure,” said Khattar. “It is a meaningful development but the number of companies using this has been limited by restrictions over the use of proceeds,” he added.

Lenders have been comfortable lending to offshore holding companies, provided they are perceived to be a strong credit. For example, smartphone company Xiaomi last year tested the market with a debut $1 billion loan, which attracted 29 lenders. Xiaomi is cash rich, with no onshore borrowings.

However, weaker companies are expected to come under more scrutiny now. “Lenders have become more comfortable with loans using offshore holding company structures,” said Deutsche Bank’s Khattar. “But they will be more wary about certain credits,” he added.

This year could be a more challenging one for mainland companies as Taiwanese lenders are keen to keep their exposure to mainland companies down, and could look to diversify to Indian or Southeast Asian companies. “Taiwanese banks were big investors for China loans in the past but they have pretty tight China limits at the moment,” said JP Morgan’s Li.

But amid ongoing market volatility, more companies could start tapping the loan markets as bond yields have risen. “Bond market volatility specially in the high yield market could see more high yield issuers trying to access the loan markets in 2015,” said Khattar.

¬ Haymarket Media Limited. All rights reserved.

Email this Print this Tweet this Send us your tips […]

Six mantras to get the best car loan deal

Thumbnail

These tips can save a lot of money for every car loan customer

Image: VW Cross Polo. Photograph: Kind courtesy, Volkswagen

Believe it or not, buying a car is still considered a status symbol in India. Though the advent of the small car has created a huge dent in this reputation, but the fact still remains that a car is a cherished dream of every Indian. Owning a car is made simpler by the fabulous offers by various banks and car finance companies in India on almost every car model. Now, you don’t need to book a car (most of the models) in advance, there is no requirement that you pay entire cost of the car in cash, just have a part of the total cost, add some creditworthiness and rest is filled up by a decent car loan.

Almost every car, be it used or new, is financed and accessible to all those who inspire confidence in banks and car finance companies.

With the car loan taking so much importance and lots and lots of information bombarded on the average consumer via different media, it is very easy to get lured into a trap. To know the intricacies of car loans is the only way one can avoid getting into an unwanted situation and later repent in leisure.

Here we take a look at few such things, which can save a lot for every car loan customer.

1. Borrow as little as possible

Remember every paisa you borrow has to be paid back to the bank or finance company with interest. So, the less you borrow the better it will be. In addition, the interest payments will be lesser and loan can be paid off within a short period. This also means that you should pay a good sum as the down payment for your car loan.

Of course, arranging this down payment can be a daunting task, but if you are able to do it without pushing too hard, go for it.

2. Popular models have better interest rates and good tie-ups

If you are looking for a model, which is rarely seen on road, be prepared to shell out more. Higher interest rates, processing fees, down payments and other charges greet those who are looking for an offbeat model. On the other hand cheaper terms make the popular models better option to buy.

Good reputation, great after sales service, and low maintenance make a car popular and backed by a good car loan they become simply irresistible.

3. An on-road price car loan is definitely better than ex-showroom one

Banks providing car loan at on road prices include the registration charges, insurance, road tax and other costs associated with the car purchase thus making it a comprehensive solution. On the other hand if you go for a car loan at ex-showroom price, you will have to shell out the road tax, insurance, registration charges and any other costs from your pocket and this will be in addition to the down payment you have made.

4. Compare and find the lowest interest rate and EMI

The car loan market is very competitive, and there are many players vying for your attention. By all means contact them and ask for quotes. Choose the one, which offers the best deal on your favourite mode.

5. Processing fees and other costs are negotiable

Do you have consistent credit card repayment record? Does the bank see you as a credit worthy individual? In that case, chances are good that with a little negotiation you can get the processing fees waived. Banks want customers who can take a loan and repay it completely with interest. A trouble free customer always has more worth than processing fees.

6. An offer which looks too lucrative can be deceptive

Dealers and small time companies, in order to lure in needy customers, come out with sugar coated offers which appear too unreal. By posing as agents of big lending companies and banks, they take guarantee to provide a car loan for persons with all backgrounds and without any checks on income and other credentials. These offers can land you in big trouble, beware!

Remember, information is power and this applies to the car loans also. The more you know about them, the better equipped you will be to negotiate a good deal.

Courtesy:

[…]

No fresh loans to SpiceJet, says State Bank of India

Thumbnail

State Bank of India is not looking at extending any loan to the cash-strapped airline SpiceJet, Chairperson Arundhati Bhattacharya said today.Stating that the bank does not have any exposure to the airline, she said: “We just have two current accounts with the airline and the bank is not looking at giving any fresh loan to the carrier.”Earlier this week, the Civil Aviation Ministry had said it may request Indian banks/financial institutions to extend loans of up to Rs 600 crore to the airline.A Ministry release had also that it would request the Finance Ministry to permit external commercial borrowing (ECB) for working capital as special dispensation.On rupee volatility, she said it came only a few days ago and she needs to watch out how long it lasts.On whether the bank is worried over unhedged corporate loan exposure due to the ongoing rupee volatility, she said “at this time no need to press the panic button.” “We always ask our clients to hedge but no one hedges completely. Hopefully all our clients have sensibly hedged what are the immediate requirements,” she told reporters on the sidelines of launching tech-learning centres for customers.She said the move is aimed at empowering the customers through technology and awareness of its tech channels amongst customers. The bank will be launching 385 such centres across the country, she added.The first centre was launched by Reserve Bank Deputy Governor H R Khan here this evening.She said by March 2015, there is a plan to install 4,000 additional cash-recyclers which serve the twin purpose of cash deposit and withdrawal. With these installations, the State Bank Group will have a network of 52,791 ATMs, CDMs, cash recyclers.She said that around Rs 44 crore worth of transactions happen at RBI every month out of which Rs 37 crore are generated manually.
“Out of the Rs 37 crore transactions, 65 per cent take place on alternative channels like ATMs, mobile banking and the Internet. We aim to increase it to 85 per cent in the next one year,” Bhattacharya said.
[…]

Some Respected Firms Are Backing America's Shadiest Payday …

Image b3hlfxwlv22poyxaajvo.jpg

It would be illegal to open a shady lending company charging poor people 700% interest on loans—unless you lived on certain Indian reservations. In that case, respectable investors would be knocking down your door.

The payday loan industry is perhaps the most execrable example of financial services serving as bloodsuckers of the poor. Today, many payday loans can be found online—easily accessed by anyone, but only subject to the laws where they are physically based. A neat trick for avoiding regulation. In Bloomberg today, Zeke Faux has a story about the proliferation of lending operations based on Indian reservations, which are sovereign and therefore able to get around the usury laws that would normally prevent you from charging someone “$30 every two weeks per $100 borrowed, equivalent to about 700 percent a year.”

There is no excuse for these businesses. They are immoral and exploitative. But at least if they were being run by impoverished American Indian tribes that were using the profits to mitigate the terrible needs on their reservations, there would be a sort of excuse. In fact, though, Faux profiles companies based on Indian land that give the tribe only tiny percentage of profits. The big money goes to—and this is the most sickening part—a variety of extremely “respectable” Wall Street firms and venture capitalists, who invest in these awful, bloodsucking businesses. (Some of the money invested in these things originates in pension funds, meaning regular working people, city employees, are indirectly subsidizing businesses that directly prey on other working people.) One of the investors mentioned is Sequoia Capital, one of the most prominent venture capital firms in Silicon Valley.

Sequoia Capital, a venture-capital firm that backs Think Finance, declined to comment. Jennifer Burner, a spokeswoman for Think Finance, said the companies cited in the complaint are legal, licensed and follow tribal law.

“We’re proud to be a service provider to Native American e-commerce lending businesses,” she said in an e-mail.

“Tribal law,” in this case, means “we are so desperate for money that we will legally sanction any fucking outrageous form of usury.”

Anyhow, entrepreneurs are the heroes of America.

[Photo: Flickr]

[…]

Cairn tanks on $1.25-b loan to Sesa arm

July 24, 2014:

The Cairn India stock was marked down nearly 7 per cent in today’s trade. This is more a reflection of the market’s disappointment over the surprise revelation of a big-ticket loan given by the company to a related party, and less about Cairn’s weak show in the June quarter.

Cairn, in the June quarter, entered into an arrangement to lend $1.25 billion to a subsidiary of Sesa Sterlite – also a part of the Vedanta Group. Of this, $800 million has already been lent by Cairn for two years and the balance $450 million will be given in the coming quarters. The company’s stand that the interest rate on the loan – LIBOR plus 3 percentage points – will give the funds a better return than the 2 – 2.5 per cent they earn currently did not quite wash with the market.

One, lending the funds is a departure from the company’s earlier position that it will retain its formidable cash reserves for significant capital expenditures (about $3 billion) planned over the next few years to increase output from its mainstay Rajasthan asset. As of March 2014, Cairn had Rs 13,707 crore in rupee funds and $1.53 billion in dollar funds. The $1.25-billion loan facility is more than 80 per cent of the company’s dollar funds of March. Two, since Vedanta’s takeover of Cairn India in 2010-11, a section of the market has been worried that Cairn’s cash may be used to bail out weaker companies in the Vedanta Group. The loan facility to a subsidiary of Sesa Sterlite, which has not been in the best of health, seems to vindicate these concerns.

Sure, there’s a corporate guarantee given by Vedanta Resources Plc for this loan, but this is in the nature of a parent level guarantee and is not asset-backed. Also, it did not help that this major related-party loan transaction came as a surprise during Cairn’s June results conference call and was not disclosed by the company as and when it happened. The name of Sesa Sterlite’s subsidiary which gets the loan and the end use of these funds has also not been disclosed yet. Finally, if the $1.25 billion was surplus cash with Cairn, it would have earned higher returns if converted and deployed into rupee deposits. The 1-year LIBOR for dollar denominated loans is currently around 0.5 per cent per annum; so Cairn India will get a return of about 3.5 per cent on its loan to Sesa Sterlite’s subsidiary. Rupee deposits with Indian banks would have yielded the company a much better 9-10 per cent. Better still, the company could have returned the cash to shareholders through healthy dividends and buybacks. Last year, Cairn gave a dividend payout of about 22.5 per cent of its profits; this could have been raised. Also, in the share buyback programme which closed on Tuesday, Cairn acquired only 21.4 per cent of its planned purchase; after the sharp fall today, the stock, at Rs 323, trades lower than the maximum buyback price of Rs 335.

The management’s optimism about a big increase in Cairn’s oil and gas resource base in Rajasthan, and its roadmap to increase production sharply in the coming years did little to assuage market sentiment. Of course, it also did not help that the company’s June quarter performance was nothing to write home about, with profit down 65 per cent from the year-ago period. Even excluding the impact of the change in depreciation calculation which accounted for much of the profit decline, Cairn’s June quarter profit is down 13 per cent from the same period last year. Higher costs, including tax and Government outgo, along with lower foreign exchange gains more than offset the increase in overall output and better price realisation. Also, output at the Rajasthan block was 4 per cent lower compared with the preceding March quarter due to an unplanned outage.

(This article was published on July 24, 2014)

Related

NEWS

Out with it

Cairn India profit dives 65% in Q1 on new accounting rules

Cairn India to spend $3 bn on capex

TOPICS

Companies | Cairn India Limited | economy, business and finance | stocks and shares |What’s this?What’s this? […]

Cairn stock falls 6.6% over $1.25-bn loan to parent

Thumbnail

advocates and analysts have slammed , an group company, for extending a loan of $1.25 billion to , another group company, at generous terms, instead of using the cash for development of its operations.

Cairn India’s stock on Thursday fell 6.5 per cent to Rs 322 a share, losing Rs 4,400 crore of market value, as angry investors gave a sell order on the company’s shares. Cairn had indicated after its June quarter results on Wednesday that the two-year facility to the foreign Sesa subsidiary will yield better returns than its fixed deposits. This was the first time the company made this disclosure.

But investors are not buying the argument. “Although Cairn’s management believes the interest rate earned is more than that received from its fixed deposits in the US currency, we believe it is negative for all shareholders of Cairn India, as the corporate loan of Libor plus three per cent rate of interest is too cheap, and hampers overall capital allocation of Cairn,” says Motilal Oswal Securities Analyst Nitish Rathi.

Of the loan, Cairn has already disbursed $800 million so far and plans to disburse the rest in the next few weeks. The company had cash and cash equivalents of $4 billion on its book as of June this year.

Corporate governance advocates say Cairn did not make disclosures to small investors about such a large related-party transaction; this itself was a violation of Sebi norms and warranted an investigation. “This is in complete disregard of the disclosure norms. Of the loan, almost $800 million has already been disbursed. And the company chose to do it before October 1 when, according to the new company law, a majority of small shareholders need to clear such related-party transactions,” says Shriram Subramanian, Founder of InGovern Research Services.

Analysts say the company has taken the necessary approvals for extending this facility from the Board and Audit Committee, in which the related parties were not allowed to vote. However, the related-party loan facility is worrying in the light of large debt levels of Sesa Sterlite, they say. Sesa Sterlite’s consolidated debt stood at Rs 80,000 crore as of March this year after London-based

transferred its stake in Cairn and its debt to the Indian company.

“The management ruled out the option of returning surplus cash to shareholders in the form of higher dividends, as the company might require the given amount for capex on development of new discoveries from 2016-17 onwards, by which time the loan will be repaid to the company,” write Kotak Securities analysts Tarun Lokhotia, Sanjiv Prasad and Vinay Kumar in a note. “We see the related-party loan facility to a subsidiary of Sesa Sterlite as a significant negative, as it warrants concern on effective utilisation of existing cash/equivalents and future cash flows of the company, notwithstanding the near-term economic rationale indicated by the management,” they write.

Cairn India reported a 65 per cent year-on-year decline in its consolidated net profit for the April-June 2014 quarter, owing to a change in depreciation procedures. The net profit was also below Street consensus estimates of Rs 2,538 crore, but revenues were mostly in line with market expectations. The bottom line also took a hit, with a 38.5 per cent year-on-year jump in regular depreciation and amortisation and nearly two-and-a-half times jump in exploration cost in the first quarter.

[…]

How a High Court Ruling on Tribal Powers May Impact Payday …

The recent U.S. Supreme Court ruling in a case between the state of Michigan and the Bay Mills Indian Community, which upheld tribal sovereignty in the case of a casino, did not deal with payday lending but mentioned possible limits to tribal authority by suggesting that states could pursue individuals instead. Some observers believe the decision will make it harder for payday lenders to claim that an affiliation with Native American tribes exempts them from state and federal consumer protection laws.

“This case makes clear that sovereign immunity is only immunity from being sued but they are not exempted from complying with the law,” said Lauren Saunders, associate director of the National Consumer Law Center. “Payday lenders who claim an affiliation with a tribe claim that they are outside of law [but] that is simply wrong and this says a court can even issue an order against them by doing it through action against an individual.”

However, other experts insist it is uncertain whether the ruling can be applied to tribes and affiliated payday lenders. Ronald Rubin, a partner at Hunton & Williams in Washington, says, “The real question is whether or not payday lenders located on Indian lands are actually operating on tribal territory when they make loans to people around the country.”

[…]

Out with Payday Loans, In with Post Offices! | The Times in Plain …

Image Post-Office-237x300.jpg


Out with Payday Loans, In with Post Offices!

February 17, 2014

Plain English Version

The new Post Office sign? From The New York Times.

In recent years, banks moved out of lower-income neighborhoods. Payday lenders moved in. Payday borrowers pay a lot in fees and interest — about ten percent of their income. Credit is what makes the economy work. Building credit is the way for families to get the things they need. Paying huge interest rates and fees sets them back.

Post offices today offer money orders. Now, the U.S. Postal Service wants to go into the Payday loan business. There is a history to the Post Office’s interest. Years ago an official said, “Its mission is to encourage thrift and economy among all classes of citizens.”

The U.S. Postal Service has issued a white paper. The paper tells how the post office used to have postal savings for “recent immigrants and the poor.” Now it wants to make lower interest loans to borrowers and to issue prepaid debit cards.

The Post Office is not without self-interest. It believes these programs would bring in a lot of money. However, the Post Office program would be much cheaper than Payday loans.

Payday lenders use Indian Tribes as fronts. They are expert in using the Internet. States keep trying to stop them.

Payday lenders and banks know this idea is a big threat to them. One banker said, “It was the worst idea since the Ford Edsel.”

That must mean it is a great idea.

Source: The New York Times February 7, 2014

[…]

Unlicensed payday loans | Consumer Alert – Bonney Lake-Sumner …

The Washington State Department of Financial Institutions (DFI) has received a complaint about Clear Loan Solutions. It appears that this entity is operating as a tribal online payday lender. This entity appears to be owned by the Big Lagoon Rancheria, a federally recognized Indian Tribe exercising its sovereign immunity and subject to regulation by the United States Government.

Clear Loan Solutions is not licensed by the DFI. This entity is not registered to conduct business in Washington State by the Department of Licensing, the Department of Revenue, or the Secretary of State.

Washington residents are advised that state law provides in RCW 31.45.105(1)(d) and (3) that a small loan made by an unlicensed entity to a person physically located in Washington is uncollectible and unenforceable in Washington State.

Clear Loan Solutions operates a website and lists its phone number as 888-680-5709. The address associated with Clear Loan Solutions is:

Clear Loan Solutions
271 Lynda Lane
Trinidad, California 95570

If you have a complaint against Clear Loan Solutions, you can mail it to:

Big Lagoon Rancheria Regulatory Authority
Attention: Mr. David Neyra
PO Box 3060
Trinidad, CA 95570

[…]