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IRRRB Loan Guaranty program gets cash infusion

EVELETH — The Iron Range Resources & Rehabilitation Board’s Loan Guaranty program for local businesses has received a $350,000 infusion from the agency’s Business Development Project Fund.

The program, which is an initiative of outgoing Commissioner Tony Sertich to provide more financial help for existing Iron Range small businesses, provides loan guarantees of up to $75,000 under certain guidelines.

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[…]

JPM: Cash America International Fully Valued Following Spin-Off

Cash America International Inc (NYSE: CSH) is fully valued after its recent spin-off of sub-prime lender Enova International, Inc. (NYSE: ENVA), an analyst said Monday.

JMP’s David Scharf downgraded Cash America to Market Perform, from Outperform, saying likely earnings growth at Cash America doesn’t support its current share price.

Cash America, which retains a 20 percent stake in Chicago-based Enova after the November 13 spin-off, traded recently at $24.66, down 2.1 percent.

Enova is off 17 percent since trading began. On Monday, Enova fell 1.5 percent, changing hands recently at $23.00.

Scharf said factoring in Cash America’s 20 percent stake in Enova “remains a wild card,” adding that his earlier Outperform rating had included improving results from both the pawn shop business as well as the Enova unit, which operates exclusively online.

Scharf noted that Street estimates of Cash America’s future earnings are near or above the range offered recently by the company.

That “allows little room for error” for a stock with a relatively high ratio of price to earnings, Scharf said.

Cash America has noted that consumer advocacy groups as well as federal and state legislators have recently suggested tightening rules “so as to severely limit, if not eliminate” so-called payday and other high-interest loan products offered by pawnbrokers and online lenders.

Latest Ratings for CSH

DateFirmActionFromTo Nov 2014JMP SecuritiesDowngradesMarket OutperformMarket Perform Jul 2014NomuraMaintainsNeutral Jul 2014Sterne AgeeUpgradesNeutralBuy

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Cash-out refinancings back in vogue as home equity surges

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No maximum$10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $400,000 $450,000 $500,000 $550,000 $600,000 $650,000 $700,000 $750,000 $800,000 $850,000 $900,000 $950,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,500,000 $4,000,000 $4,500,000 $5,000,000 $6,000,000 $8,000,000 $10,000,000 […]

600 Dollar Loan: Get Cash Today In One Hour Even With Poor Credit With Help From 600DollarLoans.com

CHICAGO, Nov. 8, 2013 /PRNewswire-iReach/ — 600DollarLoans.com recently announced that it is expanding its lender network to offer more loan packages with higher amounts starting at 600 dollar loan. With personal loans including poor credit loans growing in popularity among Americans with steady income, the demand for higher range of loans above $1,000 is also driving the industry to create more complex packages. Borrowers interested in taking such a loan can apply here.

While banks and other mainstream lending institutions stick to borrower’s good rating lending practice, personal loan companies are finding a niche in the underserved borrowers carrying manageable bad credit. Furthermore, due to stiff competition, these lenders are offering various promotions to attract borrowers including easy processing and fast approval turnaround to get cash. In many instances, borrowers can get 600 dollar loan online in less than an hour.

The company said that the country’s employment stability gives direct lenders more confidence to offer higher loan amounts in this increasingly crowded industry. “Borrowers are more demanding now as they start to get used to loan search sites. This can only mean better terms from a direct lender,” a company official said. Traditionally, short-term loans range from $200 to $500 given the high risk perception on people with bad credit.

600DollarLoans.com features advanced search-and-compare tools that help borrowers scour the internet for the best loan products from small loans to a 600 dollar loan and higher. Aside from matching interest rates, borrowers are comparing payment period, loan amounts and lenient terms before they secure a loan. In this light, loan search sites are getting popular as the lead generator for a growing set of sophisticated personal loan borrowers who need quick loan solutions.

Historically, lenders shy away from people with bad credit,” the company official said. “But we have a curious situation today where the recent recession produced a lot of people with bad credit, the same ones who occupy steady jobs today.

600DollarLoans.com said it is expanding its network of direct lenders, which are accepted based on their credibility and ethical lending history, to offer more flexibility to its growing online client base. “We also continuously monitor our lender partners to make sure they toe the line of our definition of good lending practice,” the company official admitted.

Personal loans like the 600 dollar loan can be had in one hour and are often used to settle emergency financial crisis, such as urgent home or car repairs. In some cases, these loans are used to pay for bills or consolidate other loans. “Borrowers are more aggressive now to take out loans and fix their financial obligations,” the company official said. “While they slowly fix their credit to secure bank loans in the future, borrowers with bad credit find a 600 dollar loan, for instance, useful to manage their budget.

Application is simple. Borrowers only need to provide basic personal, employment and financial information using an online form and submit it by clicking a button. The form is process immediately and the loan granted based upon the borrowers’ ability to pay back.

To know how to compare loans and get the best package, click here to start your free application.

Media Contact: Tina Panara, 600DollarLoans.com, +33688220481, panara_tina@yahoo.com

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

[…]

Loans For Unemployed – Perfect Opportunity Awaits | Payday Loan

Image payday-loans-88.jpg

Unemployed people lack the desired financial stability, which makes it difficult for them to maintain the various needs. an employed person with no fixed income source is not considered worthy of availing any external financial aid. Despite all the grave concerns, the financial market has come up with the provision of loans for unemployed, designed specifically to assist the unemployed applicants with monetary assistance, so that they can fulfill their needs.

These loans can be used to serve a number of purposes. It can be used for home improvement, paying off previous debts, pursuing higher education, marriage and so forth, so that it does not. These loans are designed keeping in mind your financial constraints As far as the need and requirement is concerned, you can avail these loans in secured and unsecured form. Secured option is meant for those who are capable of placing an asset as collateral to avail a larger amount.. Normally, an amount in the range of £5000-£75000 is made available, which then has to be repaid over a period of 5- 25 years. Moreover in the presence of collateral, you get access to low rates on these loans.

cash loans without a bank account, private personal loans, get cash loans,

Unsecured form, on the other hand are meant for those who do not have any asset that can be placed as collateral or for those who do not want to. This option of the loans offers a limited amount in the range of £1000-£25000 for a period of 6months-10 years. Interest rate pertaining to the loans will be slightly higher, but affordable rates can be derived by undertaking a detailed research of the loan market, using the online mechanism.

Loans for unemployed offer you a perfect opportunity to overcome financial crunch situations with comfortable terms and conditions.


fast cash loans

Up To $ 1500 Quick Loan Online. No Hassle. Fast Instant Approval. 100% Approval In 1 Hour. No Telecheck. Get Quick Loan Now!

Rating of fast cash loans

Get Online Application at online payday loans.

[…]

Rite Aid Ups Debt Offering Amount

Yesterday, the U.S.-based drugstore chain retailer, Rite Aid Corporation (RAD) raised the offering of senior notes to $810 million. Earlier, this week, the company had announced its intention to offer $400 million senior notes maturing in 2021.

This is the second time in June that Rite Aid is implementing a refinancing scheme. The new senior notes will carry a coupon rate of 6.75% and mature in 2021. The offering is expected to close on Jul 2, 2013.

The company plans to use the proceeds from this offering, along with its existing cash and borrowings to redeem an equivalent amount of senior notes bearing an interest rate of 9.5% due in 2017.

The company informed this separately by revealing its cash tender offer to buy all of its outstanding $810 million worth of senior notes carrying a coupon rate of 9.5% that will mature in 2017. As part of the offer, the company is also seeking consent for amendments in the senior notes. Unless extended or terminated earlier, the particular offer will expire at midnight on Jul 16, 2013.

As per the company’s previous announcement, the fees, expenses and charges related to the refinancing transactions will weigh upon its financial results – including net income, earnings per share and guidance.

At the end of fiscal 2013, this Zacks Rank #2 (Buy) company had $665.0 million borrowing outstanding under its senior credit facility and $115 million of outstanding letters of credit.

Earlier this month, the company had announced its first debt refinancing transaction in an attempt to extend the maturity of some debts and reduce interest expenses. The transaction involves a cash tender offer to redeem all of Rite Aid’s 7.5% Senior Secured Notes worth $500 million with proceeds from a new $500 million second-lien term loan, along with existing cash and borrowings.

Along with its refinancing transaction in early June, Rite Aid provided estimates for the first quarter and fiscal 2014. Rite Aid, which trails Walgreen Co. (WAG) and CVS Caremark Corp. (CVS) in terms of store count, anticipates net income for the quarter in the range of $75–$90 million or 8–9 cents per share. Moreover, the company expects adjusted EBITDA in the range of $335–$345 million.

For fiscal 2014, Rite Aid raised its low-end adjusted EBITDA guidance range to $1.090 billion from $1.075 billion, but it kept its high-end guidance of $1.175 billion unchanged. However, Rite Aid lowered its fiscal 2014 high-end adjusted earnings guidance. The company now expects adjusted net income in the range of $49–$189 million or 4–19 cents per share, compared with 4–20 cents forecasted earlier.

Another company that recently indulged in refinancing transaction is Avis Budget Group Inc. (CAR), a leading global car rental enterprise. As part of the transaction, the company increased its term loan facility to $1 billion from the existing $900 million, for a lower rate of interest. However, the new term loan borrowing, like the existing facility matures in 2019.

We believe the act of lowering interest rate on the existing loan facility and redeeming high-cost debt will enable companies to reduce corporate interest expenses, and imparts financial flexibility.

Read the Full Research Report on RAD

Read the Full Research Report on CAR

Read the Full Research Report on CVS

Read the Full Research Report on WAG

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[…]

Rite Aid Continues Debt Refinancing

Drugstore chain retailer, Rite Aid Corporation (RAD) has come up with its second refinancing scheme in this month, commencing a $400 million senior notes offering maturing in 2021. The company plans to use the proceeds from this offering along with its existing cash and borrowings to redeem an equivalent amount of senior notes bearing an interest rate of 9.5% due in 2017.

The company expects the fees, expenses and charges related to the refinancing transactions to weigh upon its financial results, including net income and earnings per share, and guidance.

At the end of fiscal 2013, this Zacks Rank #2 (Buy) company had $665.0 million borrowing outstanding under its senior credit facility, and $115 million of outstanding letters of credit.

Earlier this month, the company had announced its first debt refinancing transaction in an attempt to extend the maturity of some debts and lower interest expenses. The transaction involves a cash tender offer to redeem all of Rite Aid’s 7.5% Senior Secured Notes worth $500 million with proceeds from a new $500 million second-lien term loan, along with existing cash and borrowings.

Along with its refinancing transaction in early June, Rite Aid provided estimates for first-quarter 2014 and fiscal 2014. Rite Aid, which trails Walgreen Co. (WAG) and CVS Caremark Corp. (CVS) in terms of store count, anticipates net income in the range of $75–$90 million or 8–9 cents per share. Moreover, Rite Aid is expecting adjusted EBITDA in the range of $335 million – $345 million.

For fiscal 2014, the company raised its low-end adjusted EBITDA guidance range to $1.090 billion from $1.075 billion, but it kept its high-end guidance of $1.175 billion unchanged. However, Rite Aid lowered its fiscal 2014 high-end adjusted earnings guidance. The company now expects adjusted net income in the range of $49–$189 million or 4–19 cents per share, compared with 4–20 cents forecasted earlier.

Another company that recently indulged in refinancing transaction is Avis Budget Group Inc. (CAR), a leading global car rental company. As part of the transaction, the company increased its term loan facility to $1 billion, from the existing $900 million, for a lower rate of interest. However, the new term loan borrowing had the same maturity as the existing facility of 2019.

The $1 billion term loan was refinanced at the LIBOR plus interest rate of 2.25% subject to a LIBOR floor of 0.75%. This represented savings of 75 basis points from the previous interest rate of LIBOR plus 2.75%, subject to a LIBOR floor of 1%. Simultaneously, the company announced the redemption of its $124 million worth of senior notes due 2018, bearing an interest rate of 9.625%, eliminating the outstanding balance of its high-cost debt.

We believe this act of curtailing interest rate on the existing loan facility and redeeming its high-cost debt will enable the company to save on its corporate interest expenses.

Read the Full Research Report on RAD

Read the Full Research Report on CAR

Read the Full Research Report on CVS

Read the Full Research Report on WAG

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[…]

JCP Lifeline: Retailer Offered Second Loan

J.C. Penney could get more cash ahead of the all-important back-to-school shopping season.

Several banks, including Goldman Sachs and JPMorgan Chase, have proposed loans in the range of $500 million to $1 billion that would be secured by the company’s real estate, according to sources familiar with the matter.

Following the news, J.C. Penney shares inched higher in premarket trade. (Click here to track the company’s stock before the opening bell.)

The value of J.C. Penney’s 1,100 stores, one source estimated, was being tallied at around $2 billion.

It’s unclear whether J.C. Penney will take out an additional loan, but the option is seen as a positive sign for investors, who remain worried the company’s available liquidity could dry up before fully stocking for the crucial back-to-school period.

A real estate loan would be the second of such secured loans that the company has sought to shore up its cash. J.C. Penney, sources say, is also near closing a $500 million deal with Wells Fargo backed by its inventory, set to close in the coming days.

(Read More: House Cleaning of JC Penney Cuts 2 More Executives)

J.C. Penney is expected to evaluate the real estate options after the first loan closes and may ultimately decide not to go that route, sources say.

A J.C. Penney spokeswoman could not be reached for comment.

In the meantime, Standard & Poor’s has issued a warning on J.C. Penney, saying that adding more secured debt to its balance sheet could lead to a downgrade of the company’s CCC+ credit rating. The rating already indicates that the company’s bonds are trading at high-risk, or “junk” levels.

— Written by CNBC’s Kayla Tausche. Follow her on Twitter @kaylatausche

[…]

Instant Payday Loans No Credit Check : Tenants and Homeowners …


Instant Payday Loans No Credit Check : Tenants and Homeowners with Poor Credit Score

April 18, 2013 11:50 am // //

Thousands of people in the United Kingdom are struggling to cope up with the high housing costs. This is not the case just with people who have either bought or constructed their own houses. Even people living in rental houses are struggling to pay their monthly rents. As a result, more and more people in UK are going for instant payday loans no credit check to obtain quick funds for covering expenses.

Few years back, obtaining loans was a problem for people with bad credit score. Most of the banks in UK don’t offer loans to people with bad credit score even today. But, there are many private lending companies who offer payday loans without giving any importance to the credit score of a borrower. They are also sanctioned very fast and dispersed to the customers in 1 or 2 days. Some companies disperse the loan amount in a few hours. Availability of such instant loans has become extremely useful for tenants and homeowners.

Little or No Restrictions with Payday Loans

With these no-credit-check payday loans, there is no problem if a tenant or homeowner has any pending arrears in payment. There won’t be any problem even if the borrower has a history of paying utility bills or any other bills very late. It is not a problem even if the person has filed for bankruptcy.

There won’t be many restrictions in terms of the amount a tenant or homeowner can borrow from such lending companies. Loan amounts in the range of 500 pounds to 30,000 pounds can be easily borrowed through payday loan options. Another great thing about these loans is that the procedure for application is not complicated. Loan approval processes in banks and other traditional financial companies can be too chaotic and lengthy which is not the case with companies offering instant payday loans.

There also won’t be any need to offer collateral so as to get payday tenant loans approved. Of course, offering collateral has other benefits such as quick loan-approval times, flexible repayment schemes, low interest rates, higher loan amounts and so on. However, inability to offer collateral is not going to prevent the approval of no-credit-check payday tenant loans.

There are very simple requirements and rules that an applicant needs to adhere to in order to qualify for instant payday loans no credit check. The applicant must be having a reliable source of monthly income. An applicant employed by a registered company in UK would have better chances of getting these loans than a self-employed applicant. The applicant must be a permanent citizen of the United Kingdom and must be above 18 years. The applicant should be holding an active checking account in a recognized bank. If the applicant is a tenant, then he should be producing copies of the associated rental agreement documents. A homeowner should be producing the necessary documents that prove his ownership.

Posted in: Uncategorized […]

Easy 3 Month Payday Loans With No Credit Check

Image hqdefault.jpg

Ahead of winter, your house is in need of minor repairs. As the season is round the corner, you cannot delay taking up the repair job […]