Commerce – SBS Depot http://sbs-depot.com/ Fri, 17 Sep 2021 12:30:25 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://sbs-depot.com/wp-content/uploads/2021/05/default1-150x150.png Commerce – SBS Depot http://sbs-depot.com/ 32 32 Consumers complain about quick loans from metro Atlanta company https://sbs-depot.com/here-are-a-few-options-to-get-cash-to-that-may-work-for-you/ https://sbs-depot.com/here-are-a-few-options-to-get-cash-to-that-may-work-for-you/#respond Thu, 20 May 2021 10:35:29 +0000 https://sbs-depot.com/?p=638 ATLANTA — An Atlanta company says it makes it easy for you to quickly get a loan to pay the people doing construction or repair work on your home. But a Channel 2 Action News investigation found the same things that make the system so simple could put your money at risk to shady contractors. Channel 2 […]]]>

ATLANTA — An Atlanta company says it makes it easy for you to quickly get a loan to pay the people doing construction or repair work on your home.

But a Channel 2 Action News investigation found the same things that make the system so simple could put your money at risk to shady contractors.

Channel 2 investigative reporter Justin Gray noticed a common thread between complaints we received over several months.

They ended up owing the same Atlanta company, Greensky, thousands of dollars.

There are a number of different ways to borrow money that are both affordable and safe. If you take time to go to OakParkFinancial.com and try for free then you will choose the one that will work the best for your needs.

Pots and pans cover the floor of 75-year-old Della Patterson’s LaGrange, Georgia, home. When it rains, water pours through holes in the roof of the house she has owned for more than 40 years.

“Me and my husband had this house built from the ground,” Patterson said.

But every day, for more than a year, Patterson’s phone would ring, sometimes multiple times a day.

“Sometimes, I just lay up in the bed and cry. And wonder why they do me like they did,” Patterson said.

It was an Atlanta company, Greensky, calling. Greensky wanted to be paid for the loan on the new roof. A loan Patterson says she never signed up for, and a roof that was never installed.

“If they had done anything from me and fixed my house, I wouldn’t mind paying them. But they did nothing for me,” Patterson said.

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In DeKalb County, Alice Lowery owes Greensky more than $40,000 for work to remove mold and rebuild her basement.

Lowery is physically disabled and mostly blind. The basement is still a mess.

“I’m very nervous. I’m scared. I’m afraid,” Lowery said.

So how is Greensky involved?

Greensky calls itself a technology company, not a lender or a bank.

It’s pitch: In seconds, vendors can easily get a customer approved for a loan through Greensky with a smartphone or tablet. The money goes straight to that vendor, not the customer.

Consumer advocates say that is a big red flag.

“That is just so dangerous,” said Liz Coyle, executive director of the nonprofit consumer protection group Georgia Watch. “If a contractor wants to take advantage of somebody, Greensky gives them the perfect venue to do that.”

That’s exactly what happened to Della Patterson.

A roofer came by the house and tried to convince her to sign up for a Greensky loan. She says he called her repeatedly, trying to pressure her into getting the financing. Patterson says she never agreed to it.

“I said I don’t want to go through no loan,” Patterson said.

But she says the roofer signed her up for a Greensky loan anyway. He got the money, and never showed up again to do any work.

Greensky refused an on-camera interview, but the company’s vice chairman Gerry Benjamin told Gray in a phone call that they carefully vet merchants.

“If there is an unscrupulous merchant, we’ll throw them off the platform,” Benjamin said. “We are totally an advocate for the consumer.”

Benjamin said in an email:

The GreenSky Program customer complaint rate is consistently but a fraction of that reported by Visa and Mastercard in card-not-present situations.”

Lowery’s contractor, Mina Ownlee of C and M remodeling, told us she tried to become an approved Greensky merchant and was turned down.

But she still got paid more than $20,000 from Greensky for the incomplete work on Lowery’s home anyway.

“You are not a Greensky vendor?” Gray asked.

“I’m not a Greensky vendor,” Ownlee said.

“But she took out a loan with GreenSky and paid you through it?” Gray followed up.

“Correct,” Ownlee said.

Class action lawsuits have been filed against Greensky in California and Missouri.

In a 2018 court case, state of Alabama investigators determined Greensky “abdicated and outsourced its role and obligations as lender.”

After our phone conversation, Greensky’s vice-chairman personally stepped in and canceled Patterson’s debt.

Greensky says it kicked that roofer off its platform shortly after Patterson was unknowingly signed up for that loan.

But Greensky still tried to collect money from Patterson more than a year after.

As for how an unapproved vendor can get paid by Greensky, Benjamin wrote us, saying:

“Consumers are frequently provided with a 15 digit ‘shopping pass’ (ie. a virtual MasterCard), whereby any merchant accepting Visa, MasterCard, or Amex, via a customary POS terminal, may also accept Greensky as a mode of consumer payment.”

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Indiagold launches EMI-based gold buying product ‘EasyGold’ https://sbs-depot.com/indiagold-launches-emi-based-gold-buying-product-easygold/ https://sbs-depot.com/indiagold-launches-emi-based-gold-buying-product-easygold/#respond Wed, 07 Apr 2021 23:17:08 +0000 https://sbs-depot.com/indiagold-launches-emi-based-gold-buying-product-easygold/ Fintech platform for digital gold services, Indiagold, on Tuesday announced the full-scale launch of its third product, EasyGold, which allows users to purchase the precious metal digitally, in monthly installments equivalent (EMI) of three to nine months. Indiagold, which has piloted the product for 3 to 4 months, has partnered with precious metals management company […]]]>

Fintech platform for digital gold services, Indiagold, on Tuesday announced the full-scale launch of its third product, EasyGold, which allows users to purchase the precious metal digitally, in monthly installments equivalent (EMI) of three to nine months.

Indiagold, which has piloted the product for 3 to 4 months, has partnered with precious metals management company Augmont Gold for the service and has already received nearly 1,500 orders during its pilots.

Citing the key product differentiator, the startup said EasyGold allows users to lock in the price of the total gold they are looking to buy, paying 20% ​​of the order value up front. This further insulates consumers from any future appreciation or depreciation in asset prices.

Users can then pay the remaining amount in monthly installments spread evenly over three, six, or nine months. On top of that, EasyGold allows users to buy gold for banknotes as low as Rs5,000, with the end product being shipped to the consumer’s doorstep.

Currently, users have the ability to purchase gold digitally through EasyGold, in the form of gold coins, bracelets, earrings, and chains, on the Indiagold website and its Android and iOS apps.

“Our target audience is completely different from existing products, as we not only deliver the products in digital form, but we also exploit the bottom of the pyramid segment and the first earners who are not subject to income tax. To make the product more lucrative for these segments, we have introduced different gold form factors through simple ornaments. But we are not a jewelry startup, ”said Deepak Abbot, co-founder of Indiagold.

Currently, most of EasyGold’s customers are from Level II and III geographies, with 60% of the South Indian population residing in cities such as Vijayawada and Warangal, Abbot said. mint.

Customers can also choose to cancel their gold purchase at any time, after paying Indiagold a 2% commission, the company added.

Indiagold has also partnered with India Post as well as Blue Dart to enable deliveries of EasyGold products, on all PIN codes in India. It also provides free delivery insurance for door-to-door deliveries all over India, the company said.

The company plans to expand this product to 500 orders per month, over the coming year.

“EasyGold allows customers to buy gold within their budget, without worrying about rising gold prices or purity. to branded jewelry. So we are solving both their consumer and credit needs, ”said Nitin Misra, co-founder of Indiagold.

Indiagold, which was founded in 2020 by former Paytm executives Misra and Abbot, also offers instant home loans for gold and jewelry, as well as an offline gold locker service for a commission. monthly of 99 Rs.

The company provides loans against collateral in gold at an annual interest rate of 9% to 14% and has already provided nearly 16 crore rupees of credit to customers. Its two home-based “gold loan” and “gold locker” products are currently operational in the Delhi and National Capital (RCN) region. He plans to expand these offers to five new cities this year.

According to Indiagold’s estimates, around 240 million of India’s 290 million households have gold products.

Recent data from the Ministry of Commerce shows that gold imports fell 3.3% to $ 26.11 billion in April-February 2020-21.

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World Psoriasis Day I Psoriasis Treatment: Home remedies like onion and garlic extracts can cause an irritant reaction – Dr Tarun Narang https://sbs-depot.com/world-psoriasis-day-i-psoriasis-treatment-home-remedies-like-onion-and-garlic-extracts-can-cause-an-irritant-reaction-dr-tarun-narang/ https://sbs-depot.com/world-psoriasis-day-i-psoriasis-treatment-home-remedies-like-onion-and-garlic-extracts-can-cause-an-irritant-reaction-dr-tarun-narang/#respond Wed, 07 Apr 2021 23:17:05 +0000 https://sbs-depot.com/world-psoriasis-day-i-psoriasis-treatment-home-remedies-like-onion-and-garlic-extracts-can-cause-an-irritant-reaction-dr-tarun-narang/ Psoriasis (Representative Photo – Pixabay) World Psoriasis Day is scheduled for October 29 each year to empower and educate people living with this disease and their caregivers. Doctor Tarun Narang, Associate Professor, Department of Dermatology, Venereology and Leprology, PGIMER Chandigarh shares his point of view with Biplob Ghosal from Timesnownews.com on psoriasis, which he called […]]]>

Psoriasis (Representative Photo – Pixabay)

World Psoriasis Day is scheduled for October 29 each year to empower and educate people living with this disease and their caregivers. Doctor Tarun Narang, Associate Professor, Department of Dermatology, Venereology and Leprology, PGIMER Chandigarh shares his point of view with Biplob Ghosal from Timesnownews.com on psoriasis, which he called a chronic non-infectious treatable skin disease.

Question: What is the average time to diagnosis for patients with psoriasis?

Dr Narang: The diagnosis of psoriasis is clinical, it is generally made at the first visit, by a “dermatologist”. However, it can sometimes be difficult for general practitioners or other licensed physicians with limited exposure to dermatology to diagnose psoriasis early, which can sometimes delay the correct diagnosis and management of the disease.

We have seen patients treated for eczema or fungal infection for months until they see dermatologists and a correct diagnosis of psoriasis is made. Additionally, patients can sometimes try to diagnose their condition through a Google search, which further adds unnecessary delays and treatment before the correct diagnosis is made.

Question: What do you think of people who opt for home remedies instead of seeing a dermatologist for their treatment?

Dr Narang: With the use of home remedies, the possibility of a worsening of the existing condition is the main concern and sometimes they may not be effective and only provide temporary relief. The practice of applying oil to skin lesions and sunbathing, for example, is beneficial for psoriasis. However, personal practices such as applying home remedies such as onion and garlic extracts and certain plant leaf pastes can cause an irritating reaction or even scarring on the skin and can cause a flare-up of psoriasis. . Therefore, patients are advised to regularly consult dermatologists for their skin condition and, if necessary, seek advice on the use of home remedies if desired.

Question: What treatment options would you recommend for treating psoriasis? Do you see biologic therapy as an effective treatment option for moderate to severe psoriasis?

Dr Narang: The treatment options are varied and numerous for psoriasis. First, we need to observe the extent (severity) and type of this condition. Sometimes treatment can vary depending on the different parts of the body where the disease has occurred. For example, the treatment options for scalp psoriasis are different from palmoplantar psoriasis (affects the skin of the palms and soles of the feet). All of these factors are therefore taken into consideration before deciding on the appropriate treatment options for a given patient.

Usually, for limited disease, topical treatment with coal tar, topical corticosteroids, calcipotriol and / or keratolytic agents as well as moisturizers may suffice. Always keep in mind that systemic steroids should be avoided in patients with psoriasis.

Treatments with biologics for effective treatment of moderate to severe psoriasis are available in India and are used in patients with severe disease or those with associated arthritis or when conventional systemic agents cannot be used. used because of co-morbidities or side effects.

However, the use of biologics is generally limited by cost limits, as the drugs are generally required for long periods of time to maintain the therapeutic effect for the long term treatment process associated with this disease. Therefore, not everyone is financially able to continue treatment with biological therapy. Therefore, it is the call of the hour for insurance providers to secure appropriate health coverage for patients undergoing treatment with biologics, especially for those in need.

Question: What advice will you give to patients who stop their treatment due to the current pandemic?

Dr Narang: Given the ongoing pandemic, patients may fear using drugs due to fear of immunosuppression and the increased risk of contracting COVID-19. However, it is in the best interest of patients that they consult their treating dermatologists so that the real risks that their current medications may pose can be discussed and that alternative medications can be prescribed if they deem it appropriate. The risks of flare-ups from abruptly stopping medications can lead to co-morbidities, so patients should consult their treating dermatologist before making any treatment decisions.

Question: Is it now a safer time for patients who visit clinics / hospitals for consultation?

Dr Narang: With the global COVID-19 pandemic still ongoing, it is advisable to limit visits to clinics and hospitals until absolutely necessary. Most centers offer reliable teleconsultation services that deal with minor changes in disease severity, and medication change can be advised accordingly. The requirement for a direct visit or admission may be advised following teleconsultation in severe illness, especially with systemic symptoms, if considered, by the attending physician. All precautions for the prevention of COVID should then be taken, including proper wearing of a mask, observing hand hygiene and maintaining a social / physical distance when visiting a clinic / a hospital.

Question: Do you see patients with psoriasis who might show symptoms of depression after living with this disease for a while?

Dr Narang: Yes, we see patients with psoriasis who develop depression as a result of the disease. In a study we recently conducted, it was found that depression was the most common psychological comorbidity in our patients with psoriasis, which was around 30%.

Psoriatic lesions on exposed areas of the skin cause the feeling of being unattractive and frustration occurs. As a result, patients tend to isolate themselves socially and begin to be alone, which makes them depressed. Psoriasis affects the social, personal and sexual life of patients, causing psychological tension.

Myths that psoriasis is a contagious disease stigmatize and exclude patients from schools, workplaces and social gatherings. These problems are particularly troublesome in young patients. Additionally, the chronic inflammation occurring in psoriasis has also been implicated in the pathogenesis of depression. Therefore, it is necessary that all patients with psoriasis are screened for depression and counseled regarding the nature and course of the disease. If someone has feelings of hopelessness, anxiety, loss of interest, sleep or appetite, they should discuss this with their treating dermatologist.

Ques: Do you have another comment you would like us to highlight to support awareness among people living with moderate to severe psoriasis?

Dr Narang: It is important for people to realize that psoriasis is a chronic, non-infectious skin disease that can be treated. Stress, obesity, alcohol, and smoking can make the disease worse, as can some medications and infections. Therefore, patients should be encouraged to exercise, control their weight, limit their alcohol intake, and quit smoking. All patients should consult a dermatologist and avoid self-medication. Family and community support is needed to minimize stigma and improve patient mental health.

Disclaimer: The tips and suggestions mentioned in the article are for general information purposes only and should not be construed as professional medical advice. Always consult your doctor or healthcare professional if you have specific questions about a medical problem.

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Dan Gilbert will invest $ 500 million to help revitalize Detroit. https://sbs-depot.com/dan-gilbert-will-invest-500-million-to-help-revitalize-detroit/ https://sbs-depot.com/dan-gilbert-will-invest-500-million-to-help-revitalize-detroit/#respond Wed, 07 Apr 2021 23:17:03 +0000 https://sbs-depot.com/dan-gilbert-will-invest-500-million-to-help-revitalize-detroit/ Dan Gilbert, the founder of Quicken Loans, has spent more than a decade investing billions in downtown Detroit. Now it is expanding its scope. The Gilbert Family Foundation and the Rocket Community Fund, the philanthropic arm of Quicken Loans’ Rocket Mortgage company, on Thursday announced a $ 500 million investment in Metro Detroit, to be […]]]>

Dan Gilbert, the founder of Quicken Loans, has spent more than a decade investing billions in downtown Detroit. Now it is expanding its scope.

The Gilbert Family Foundation and the Rocket Community Fund, the philanthropic arm of Quicken Loans’ Rocket Mortgage company, on Thursday announced a $ 500 million investment in Metro Detroit, to be spent over the next 10 years. The first $ 15 million will go towards paying down the property tax debt of low-income homeowners who have qualified for Detroit’s Pay As You Stay initiative.

Quicken Loans has been based in Detroit since 2010, and Mr. Gilbert and his real estate company, Bedrock, have spent billions there buying and redeveloping properties. These efforts have been lauded for revitalizing a downtown area of ​​around seven square miles, but also criticized by some who argue they haven’t done enough to help those living in the rest of the city.

“We feel like we’ve made Detroit a booming technology city,” Gilbert said. But he acknowledged that some may have felt left behind. “It can make up for that,” he said.

Mr. Gilbert added that his focus outside of downtown Detroit stems from his work on President Barack Obama’s Burn Removal Task Force in 2014 as the city emerged from bankruptcy. “Property taxes were the # 1 problem causing scourge foreclosures,” he said.

The housing crisis in Detroit dates back to the “racial pacts” of the 1920s. By the mid-2000s, the city became a subprime lending center that defined the financial crisis, with subprime loans accounting for three-quarters of mortgages. from the city.

The ensuing economic crisis toppled a city already struggling with a shrinking population and declining income. Those who paid for the repossession were largely low-income homeowners – in many cases blacks – which the city has also been accused of overtaxing. Poverty rates have increased and municipal services have deteriorated as a result.

In 2019, Quicken Loans settled a lawsuit with the Justice Department, which accused the company of misrepresenting loans to qualify for Federal Housing Administration insurance. Quicken did not admit any wrongdoing in the settlement.

The investment announced Thursday is an effort to deal with the lingering effects of the crisis. Twenty thousand families are eligible for the tax relief program, said Mr. Gilbert’s wife, Jennifer, who founded the Gilbert Family Foundation with her husband.

“By preserving this wealth, we also preserve the opportunities for intergenerational wealth transfer,” she said. “The stability of the home allows people to then focus on other economic opportunities that allow them to prosper.”

Once the initiative’s first $ 15 million is spent on paying back taxes for low-income homeowners, the remaining funds will go towards, among other things, repairing homes and bridging the digital divide.

The community will be vital for the contribution, including those who qualify for the initial tax break. “We can learn a lot about the next investments we want to invest in and how best to have a positive impact on them and their lives,” said Ms. Gilbert.

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The link between college completion and student loan repayment https://sbs-depot.com/the-link-between-college-completion-and-student-loan-repayment/ https://sbs-depot.com/the-link-between-college-completion-and-student-loan-repayment/#respond Wed, 07 Apr 2021 23:17:00 +0000 https://sbs-depot.com/the-link-between-college-completion-and-student-loan-repayment/ Many students who leave college in debt feel the burden of paying off their student loans long after their last class or visit to campus. But students who never get a post-secondary diploma or certificate carry that burden much longer. A report released Wednesday by Third Way, a center-left think tank, finds that students who […]]]>

Many students who leave college in debt feel the burden of paying off their student loans long after their last class or visit to campus. But students who never get a post-secondary diploma or certificate carry that burden much longer.

A report released Wednesday by Third Way, a center-left think tank, finds that students who graduate with a degree or certificate are 20 percentage points more likely to start paying off their loan principal than non-graduates each year. year after leaving campus.

More than half of the students who enter a post-secondary institution leave without a diploma or diploma. The findings of the report show great consequences for the ability of these students to repay their loans. The report also says that students who have participated in for-profit programs are likely to struggle to reduce their loans whether or not they graduate.

Across all higher education institutions, Third Way has found that graduates one year after leaving university are more likely to start repaying their loan principal than dropouts in the seventh year after leaving a program. post-secondary.

According to the report, loan repayment rates are also dictated to a large extent by the type of program a student borrower has participated in. Students who have taken and obtained a four-year degree are 18% more likely to start repaying their loan principal than graduates of two-year programs one year after completing it, and 28% more likely than students who have completed a certificate program. This is despite holding on average a significantly higher amount of student loan debt.

Community colleges and two-year institutions have some of the lowest graduation rates. But getting a degree pays big dividends for students at these colleges. More than two-thirds of graduates from two-year institutions began repaying their loan principal in the seventh year after graduation. But more than half of borrowers who give up will eventually accumulate interest on their debt and end up owing more than their original loan balance over the same period.

Michael Itzkowitz, author of the report and senior researcher at Third Way, said college completion should be one of the main goals of accountability provisions in a future reauthorization of the higher education law.

“This data clearly shows that this is one of the main drivers for students to start the process of paying off their loans over time,” he said. “This not only serves students well, but also helps protect the massive taxpayer investment that is spent in higher education each year.”

Itzkowitz said institutions meet the benchmarks against which they are measured. And right now, they face no real liability beyond a largely inefficient cohort default rate benchmark.

“In fact, we have dozens of institutions with graduation rates below 10 percent,” he said. “However, they continue to remain fully accredited and funded by the federal government.”

The report finds disturbing results even for graduates of certificate programs. Less than half of borrowers who complete a certificate program began paying off their loan balances seven years after graduation, indicating that these students did not earn a salary high enough to justify their investment. .

These programs are concentrated in the for-profit college sector, which has similar overall results. At for-profit institutions, 48% of graduates owe more than they initially took out in student loans seven years after graduation.

“We can see that a number of institutions leave their graduates in horrible condition even years after completing their degree program,” Itzkowitz said.

Researchers studying higher education outcomes said the report supported other recent research finding similar correlations between completing college and repaying loans.

“These findings speak to the importance of a continued focus on student success and graduation from our country’s colleges,” said Angela Boatman, assistant professor of public policy and higher education at Vanderbilt University. “Policy makers must continue to support institutional and national efforts to reduce financial, academic and informational barriers for students, thereby increasing graduation and reducing default rates. “

Douglas Webber, an associate professor of economics who studies higher education at Temple University, said the report’s findings, unsurprisingly, underscore the enormous importance of completing college.

“What I am telling students today is that I would much rather be a college graduate with $ 50,000 in debt than a dropout with $ 10,000 in debt,” he said.

Webber said the biggest unanswered questions about loan completion and repayment were about differences between sectors of higher education as well as the impact of institutional factors on students – for example, what’s the difference reimbursement due to the quality of an education and resources available to students in relation to factors such as family background.

“Recent work has shown quite convincingly in my opinion that there are causal differences between schools in terms of the number of student outcomes such as income,” he said. “While these likely translate into repayment rates to some extent, much of the difference is undoubtedly due to factors such as family resources. “

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How FewchoreFinance offers instant loans to employees https://sbs-depot.com/how-fewchorefinance-offers-instant-loans-to-employees/ https://sbs-depot.com/how-fewchorefinance-offers-instant-loans-to-employees/#respond Wed, 07 Apr 2021 23:16:59 +0000 https://sbs-depot.com/how-fewchorefinance-offers-instant-loans-to-employees/ Access to money is a constant need for many people, and fintech startups that provide solutions to this need are in high demand. In space, companies like Carbon, Evolve Credit, Branch, Kiakia and Renmoney have already created services that provide microloans to individuals and businesses in need. Changes in interest rates on loans as well […]]]>

Access to money is a constant need for many people, and fintech startups that provide solutions to this need are in high demand. In space, companies like Carbon, Evolve Credit, Branch, Kiakia and Renmoney have already created services that provide microloans to individuals and businesses in need.

Changes in interest rates on loans as well as in terms and conditions from one fintech to another provide an array of options to choose from. Fewchorefinance is another financial technology company that provides a solution to the “I need a loan” problem.

Source: Dreamstime.com

While it can take over several hours to apply for loans and get a response from banks and some fintechs, this startup makes it easy to borrow money online in under an hour.

Also read: Renmoney, a credit and loan company, lays off 391 employees as it moves more towards technology

How to get a loan from Fewchorefinance

To obtain a business or personal loan from the startup, there are three steps to follow. The first is to indicate the amount of money that needs to be borrowed as well as the date when it will be fully repaid. The least amount that can be borrowed is 50,000 naira and the minimum repayment term is 3 months, according to information on its website.

You can like: Nigerian fintechs grapple with growing number of defaults due to job losses and economic hardship

Depending on the amount and the duration, Fewchorefinance calculates the interest to be reimbursed. The interest is higher when the loan is larger or when the repayment period is longer. If, for example, we borrow 500,000 N for a period of 3 months, the amount that will be repaid is 567,500 N at 189,166.67 NN per month. If it is repaid over 5 months, the loan + interest becomes N612.500.

Low cost

Before a loan is approved, the startup collects Know Your Customer (KYC) information from the user. This includes the official email, salary statement for the last 3-6 months as well as ATM card details. Only employees can obtain loans from the startup and applications will be rejected from those who are not.

The fintech company has an app, Fewchorepay, which allows users to invest money in credible businesses and access its lending service. Fewchorefinance also provides services ranging from asset finance and fund management to local and international trade finance.

KiaKia offers easy access to loans, shorter repayment terms and higher interest rates than many others

“The loan process is transparent” – User reviews

On his Playstore account, the opinions of other people who have used his application are mixed but mostly positive. Bolaji Olusanjo said: “Simple, fast and reliable. I was able to get my loan in minutes.

Another user, Lawrence Uzochukwu, said: “Wonderful experience. Access to the loan was done without problem. Customer service is exceptional, responds to your complaints on time. I never would have asked for more. Fewchore Finance you have my 5 stars. I wish I could give you more.

Some of the negative comments are about the incessant bank charges while using the app. Rotimi Oluwatobi said: “I sent a mail, no response from you. I applied for a loan, my account was debited twice for an account statement, but I did not receive any loan disbursements on my account. It is unfair.”

Ikeh David also said, “It keeps charging me every time I try to add a card, but it doesn’t add. It’s really annoying. Please repair your app or remove it altogether, as you are swindling people with their N40 every time they try to add a card and it doesn’t add.

Fewchorefinance responded to the negative comments with suggestions for remedial action for those affected.

The loan service works and the customer service is excellent. For employees, this is another addition to the pool of loan providers in Nigeria.


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Schumer leads plan to write off student loan debt using President Biden’s executive powers – The Ticker https://sbs-depot.com/schumer-leads-plan-to-write-off-student-loan-debt-using-president-bidens-executive-powers-the-ticker/ https://sbs-depot.com/schumer-leads-plan-to-write-off-student-loan-debt-using-president-bidens-executive-powers-the-ticker/#respond Wed, 07 Apr 2021 23:16:55 +0000 https://sbs-depot.com/schumer-leads-plan-to-write-off-student-loan-debt-using-president-bidens-executive-powers-the-ticker/ US Senator and Majority Leader Chuck Schumer is leading an initiative for President Joe Biden to use his executive power to write off up to $ 50,000 in student loan debt per student. Any loan that is federal or supported by the federal government falls under this plan. It would also apply to debts incurred […]]]>

US Senator and Majority Leader Chuck Schumer is leading an initiative for President Joe Biden to use his executive power to write off up to $ 50,000 in student loan debt per student.

Any loan that is federal or supported by the federal government falls under this plan. It would also apply to debts incurred by the parents of a student. Student loans represent 93% of school debt, according to the Board of Governors of the Federal Reserve System.

“For far too many students and for so many graduates many years after school, federal student loans and student loans in general are becoming a burden forever,” Schumer said in a phone call with students from New York. “It’s all over the country. It’s all over our state.

Schumer said Biden and Education Secretary Miguel Cardona had administrative authority to write off student loan debt under the Higher Education Act.

An executive order from Biden would bypass the need for bipartisan approval from Congress.

“It means we don’t have to go through Congress,” he said. “We don’t have to worry about the 60 votes. [Biden and Cardona] can do it on their own.

According to Schumer, 2.4 million New Yorkers owe $ 89.5 billion in federal student loans. The average amount of student debt is $ 38,000 for New York City residents and $ 34,000 for New York State residents.

“NY’s numbers are higher than the national average,” he said. “The issue of student debt is particularly relevant to NY because we are more affected than many other states. “

There is nearly $ 1.6 trillion in student loan debt in the United States, which is bigger than credit card and car debt.

“The college should be a ladder to the top,” he said. “But student debt often weighs on students. It’s an anchor and we have to do something. It wasn’t like that 10 or 15 years ago. It’s good, much worse.

Schumer’s reasoning behind this plan is rooted in how debt influences the lives of students.

“It affects their abilities,” he said. “What kind of jobs they get, some of them will delay starting a family, many will have to delay buying basic necessities like a car or living in the place they want to live because of of the rent. It totally disrupts people’s lives.

He argued that debt cancellation would help stimulate the economy.

“Instead of paying the federal government $ 400 a month, young people and middle-aged people who still have debts will use this money to go out to restaurants, go on vacation, buy a car or a household appliance,” a- he declared.

Schumer and Senator Elizabeth Warren, who also heads the plan, met with Biden.

According to Schumer, Biden is considering the plan and supporting Schumer and Warren’s campaign. However, he is reluctant to use a decree and is more in favor of passing a law.

“If the president has to reject it, we will try to pass it through legislation, but it is much easier for him to just sign the decree,” he said. “But we won’t give up if he doesn’t sign the order. If he says $ 10,000, we will try to get the next $ 40,000 through legislation.

He and a number of senators passed a resolution urging Biden to execute the plan.

Schumer said Senate Democrats are also looking for ways to reduce the cost of education before more students go into debt.

The push to write off student loan debt comes after the US bailout, which was recently passed by the Biden administration. This bill included a provision that made the student loan exemption tax-free until 2026.

In addition, the bill allocated $ 2.6 billion to New York colleges and universities to address the challenges of the pandemic. Half of the amount allocated to each school must be distributed to students in the form of financial aid.

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Compliance Alert: Sometimes companies have to break the law https://sbs-depot.com/compliance-alert-sometimes-companies-have-to-break-the-law/ https://sbs-depot.com/compliance-alert-sometimes-companies-have-to-break-the-law/#respond Wed, 07 Apr 2021 23:16:53 +0000 https://sbs-depot.com/compliance-alert-sometimes-companies-have-to-break-the-law/ You may have noticed a risk factor in annual reports and SEC registration statements regarding “conflicting laws and regulations.” Once rare, whistleblowing has become commonplace, thanks to globalized operations and the proliferation of regulators. For compliance officers, it’s a growing minefield. What do “conflicting laws and regulations” warnings look like? Here is an excerpt from […]]]>

You may have noticed a risk factor in annual reports and SEC registration statements regarding “conflicting laws and regulations.” Once rare, whistleblowing has become commonplace, thanks to globalized operations and the proliferation of regulators. For compliance officers, it’s a growing minefield.

What do “conflicting laws and regulations” warnings look like?

Here is an excerpt from the Frequency Therapeutics annual report filed with the SEC on March 29:

Doing business internationally involves several risks, including, but not limited to, multiple, conflicting and changing laws and regulations, such as data privacy and security laws and regulations, tax laws, export and import restrictions, economic sanctions laws and regulations, employment laws, regulatory requirements and other government approvals, permits and licenses.

From Goldman Sachs:

Legal, regulatory and reputational risks may also exist in the context of activities and transactions involving new products or markets where there is regulatory uncertainty or when there are different or contradictory regulations depending on the regulator or jurisdiction concerned, especially when transactions on such products may involve more than one jurisdiction.

And from Tesla:

[R]regulations continue to evolve rapidly, which increases the likelihood of a patchwork of complex or conflicting regulations, or may delay products or restrict the functionality and availability of autonomous driving, which could adversely affect our business.

There is a real risk of running into conflicting laws and regulations.

What problems does this cause?

Problem # 1: Is your code of conduct still accurate? Most businesses publicly state that they aspire to obey all laws applicable to them. Value Line’s code of business conduct and ethics is typical: “The Company requires all employees and directors to comply with all laws, rules and regulations applicable to the Company wherever it does business. “

Likewise, Ionis Pharmaceuticals’ Code of Ethics and Business Conduct states: “When doing business for Ionis, we endeavor to follow the spirit of the law and we will not take any action that we know or reasonably should. know that she is breaking any law. , a regulation or a judicial decree.

But when businesses are faced with conflicting laws and must choose which ones to break, are these codes accurate?

Question another way: Should a business that has warned of potentially conflicting laws issue an unqualified statement that it intends to comply with all applicable laws and regulations?

Problem # 2: Breaking promises made to lenders or others. All large companies borrow money through syndicated loans or exchange traded securities. And all borrowers promise at some point that they “will comply with all laws, rules, regulations and requirements of any government authority applicable to the borrower.”

A borrower who violates conflicting laws is likely in technical violation of their covenants. The consequences of such breaches can range from simply annoying reporting obligations to catastrophic defaults.

Problem # 3: Who decides which conflicting laws and regulations to break? Should directors make or approve all decisions that violate applicable law? Or the CEO alone, or a management team? Is this a question for government affairs, HR or public relations? What role does the legal and compliance department play? And anyway, who wants to publicly state in favor of violating any law or regulation anywhere?

Problem # 4: What about methodology and disclosure? Should we memorize internal deliberations? Should a company disclose to investors any decision to violate conflicting laws and regulations? Would the disclosure be a confession for interest – a signed confession of criminality? What is the risk that confidential internal files relating to the decision will become public or be discovered in legal or regulatory proceedings?

Problem # 5: Does violating conflicting laws and regulations lead to certification issues? Compliance programs and external auditors require officers and others to say if they know of illegal conduct. CEOs and CFOs are also required to certify under Sarbanes-Oxley the accuracy of an issuer’s books and records and the strength of its internal controls. Can anyone do “clean” certifications if they are aware of decisions to violate conflicting laws and regulations?

——

As conflicts of laws become more frequent, are they likely to become obstacles? Probably not.

Business is good for solving problems. Perhaps standardized “exception sheets” will help. Or lawyers will write effective disclaimers when companies have to choose which conflicting laws to violate. Perhaps insurers will offer D&O endorsements specifically for conflicting law decisions. Or the SEC will provide relevant safe harbor advice.

The possibilities are endless, and so far, for the most part untested.

So for now, we all need to walk carefully through this minefield of compliance.

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Economic stimulation in the event of a pandemic: legislative and regulatory changes as of April 2, 2021 – Coronavirus (COVID-19) https://sbs-depot.com/economic-stimulation-in-the-event-of-a-pandemic-legislative-and-regulatory-changes-as-of-april-2-2021-coronavirus-covid-19/ https://sbs-depot.com/economic-stimulation-in-the-event-of-a-pandemic-legislative-and-regulatory-changes-as-of-april-2-2021-coronavirus-covid-19/#respond Wed, 07 Apr 2021 23:16:50 +0000 https://sbs-depot.com/economic-stimulation-in-the-event-of-a-pandemic-legislative-and-regulatory-changes-as-of-april-2-2021-coronavirus-covid-19/ United States: Economic stimulation in the event of a pandemic: legislative and regulatory changes as of April 2, 2021 April 05, 2021 Hughes Hubbard & Reed LLP To print this article, simply register or connect to Mondaq.com. April 2, 2021 – This week, President Biden enacted bipartisan legislation extending the Paycheck Protection Program (PPP) loan […]]]>

United States: Economic stimulation in the event of a pandemic: legislative and regulatory changes as of April 2, 2021

To print this article, simply register or connect to Mondaq.com.

April 2, 2021 – This week, President Biden enacted bipartisan legislation extending the Paycheck Protection Program (PPP) loan application deadline from March 31 to May 31. There have been no regulatory developments to note.

Legislative proposals for fiscal stimulus

HR 1799: PPP Extension Law of 2021

On March 30, President Biden enacted bipartisan legislation that extends the Paycheck Protection Program (PPP) application deadline from March 31 to May 31 and gives the Small Business Administration (SBA) an additional 30 days to process loans submitted before the new deadline. Representative Carolyn Bourdeaux (D-GA) introduced the bill with 101 co-sponsors.

HR 2290: The Stop Stops Now Law (Stop Shutdowns Now)

On March 29, Representative Pete Stauber (R-MN) introduced legislation that would require the Small Business Administration to create an impact report on any future state, federal or executive COVID-19 requirements restricting or preventing small businesses from operating. at full capacity.

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.

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Iowa universities distribute less financial aid as enrollments decline https://sbs-depot.com/iowa-universities-distribute-less-financial-aid-as-enrollments-decline/ https://sbs-depot.com/iowa-universities-distribute-less-financial-aid-as-enrollments-decline/#respond Wed, 07 Apr 2021 23:16:47 +0000 https://sbs-depot.com/iowa-universities-distribute-less-financial-aid-as-enrollments-decline/ Public universities in Iowa, as well as the state and federal government, provided less financial aid to students last year, as campus enrollment plummeted. But with COVID-19 further reducing enrollment while increasing the need for help with tuition fees, universities have stressed the importance of financial assistance to lawmakers who are now deciding how much […]]]>

Public universities in Iowa, as well as the state and federal government, provided less financial aid to students last year, as campus enrollment plummeted.

But with COVID-19 further reducing enrollment while increasing the need for help with tuition fees, universities have stressed the importance of financial assistance to lawmakers who are now deciding how much to appropriate campuses and universities. families weighing where to send their students – and their money.

“In 2019-2020, the total amount of financial aid given to students (undergraduate and graduate students) decreased for the second year in a row, from $ 1.09 billion last year to $ 1.09 billion last year. $ 06 billion, “according to a new report from the Iowa Board of Regents.

Although the decline was primarily related to enrollment losses, the percentage of financial need met for University of Iowa undergraduates from 2017-18 to 2019-2020 fell from 67% for residents and 57% for non-residents to 56% and 50%, respectively. .

The percentage of financial need met at Iowa State University has remained stable over this period, while the University of Northern Iowa reported a slight increase in the amount of need met.

Universities have stressed the importance of financial aid in expanding opportunities for an increasingly diverse pool of high school students in Iowa; fight against an imminent drop in registrations potentially accelerated by the pandemic; and increase their competitive advantage over peer institutions attempting to recruit the same students.

In the Regents’ appropriation proposal to lawmakers this session, campuses pledged to spend at least part of the requested increase of $ 18 million to support student financial aid – a pledge universities have already made. .

Types of assistance

Financial aid doesn’t just come in the form of scholarships and grants from a higher education institution. It also includes federal and private loans and on-campus employment opportunities.

Including all aid at the three regent universities, federal financial aid increased from $ 553.7 million in 2017-2018 to $ 517.8 million in 2019-2020. Institutional assistance increased from 410.8 to 392.1 million dollars; and state aid has been cut by almost half, from $ 4.5 million to $ 2.5 million.

Only aid from private organizations, foundations, businesses and other external sources increased during this period, from $ 133.3 million to $ 149 million, according to the regent’s report.

Undergraduates receive 70% of all aid available on regent campuses – $ 738.1 million out of $ 1.06 billion in 2019-20. Of the aid that went to this group, almost 48% came from the federal government – largely loans – while 35% came from regent universities, which are mostly scholarships, grants and employment opportunities.

“While total university aid to undergraduates fell in 2019-2020 from a peak in 2017-2018, the amount per student remains stable,” according to the board report. “In fact, the average amount of aid per student is slightly higher in 2019-20 than in 2017-18. “

Net price

These conflicting numbers are due to declining enrollments, which the pandemic has made worse despite efforts to provide some semblance of college experience on campus.

Hoping to maintain a pot of tuition income, the UI and ISU had increased rates until COVID-19 interrupted this academic year.

Thanks to financial aid, however, the net price for attending universities in 2019-2020 – calculated by taking the average amount of grants and scholarships per student and subtracting it from the price of a university sticker – n ‘ has not increased for everyone.

“The net price is usually a more accurate approximation of how much a student pays for the university, compared to the sticker price,” according to the regent’s report. “On average, Regent University students with the greatest financial need receive the most financial aid. “

The net price to attend a regent university in 2019-2020 was $ 20,365 for a student from a family earning more than $ 110,000, up slightly from $ 19,633 the year before.

But the net price has come down for some students from families with lower adjusted gross incomes – such as those earning $ 30,000 or less, who in 2019-2020 paid an average of $ 11,278, just less than $ 11,505. the previous year.

“Regent universities continue to have one of the lowest net prices among four-year colleges and universities in Iowa,” according to the report, showing that only Maharishi University at Fairfield with a lower net price among four-year colleges and universities in Iowa.

Looking at student debt, all three universities reported a declining percentage of Iowa students graduating with debt.

But the percentage of non-Iowa residents who borrow has increased at ISU and UNI, jumping about three percentage points at ISU and more than eight points at UNI from 2016-17 to 2019-2020.

And, among resident graduates, more than half of every campus is in debt.

“Thirty-nine percent of Iowa State University, 42.6 percent of the University of Iowa, and 30.1 percent of the University of Northern Iowa graduated without any debt.” , indicates the report.

Comments: (319) 339-3158; vanessa.miller@thegazette.com

The Pentacrest on the University of Iowa campus, including the Old Capitol Building (center), Macbride Hall (top left), Jessup Hall (bottom left), Schaeffer Hall (top left) right) and MacLean Hall (bottom right) in an aerial photograph. (The Gazette / archive photo)

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