Posted in home improvement loans

More loan money available to rebuild Kenosha businesses

MADISON, Wis. (AP) — The state is making more money available to help small businesses in Kenosha recover from damage during recent unrest over the police shooting of Jacob Blake, officials announced Wednesday.

Gov. Tony Evers and the Wisconsin Economic Development Corporation said another $3 million would be added to the previously-announced $1 million in no-interest loans for small businesses.

Kenosha Fire Chief Charles Leipzig recently told the Police and Fire Commission that damage from the violence that followed Blake’s shooting Aug. 23 has topped $11 million.

The 29-year-old Black man was left partially paralyzed after a white officer shot him seven times in the back as police tried to arrest him.

The shooting, which was recorded on video and seen widely on social media, sparked protests and violence in Kenosha, where roughly two dozen fires were set and numerous businesses were destroyed.

Prosecutors say 17-year-old Kyle Rittenhouse of Antioch,

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Posted in home improvement loans

Kennedy Funding Closes $3 Million Land Loan for Portion of Former Murdock Village Site in Port Charlotte, Florida | Nachricht

ENGLEWOOD CLIFFS, N.J., Sept. 23, 2020 /PRNewswire/ — A long-promised commercial center in Port Charlotte, Florida, will soon be underway, thanks to Kennedy Funding.

The Englewood Cliffs, New Jersey-based direct private lender today announced the closing of a $3 million loan to Lost Lagoon Development for the acquisition of 101.46 acres of land located at 17512 Toledo Blade Boulevard in Port Charlotte.

Lost Lagoon Development purchased the property for $3.755 million and Kennedy Funding closed the loan at80% of the purchase price.

“A commercial real estate loan at 80% loan-to-cost, particularly on raw land, is quite rare in the hard money space,” said Kevin Wolfer, CEO, Kennedy Funding. “Knowing the contract contained several contingencies for rezoning and site plan approvals significantly increased this property’s value and made this an extremely unusual and attractive arrangement. Once the borrower secured the approvals, we were able to

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Posted in home remodeling

KNOWLEDGE CENTER: How to choose the right loan to remodel your home, make a large purchase or consolidate debt | Business

With so much talk around home buying and refinance rates driving the housing market this summer and fall, many want to capitalize on the low rates. Homeowners are choosing to make improvements to their existing houses to accommodate remote working and schooling, or other comforts to gain more living space.

There are great options for homeowners with projects of any size, from a small kitchen facelift to finishing basements or attics to make them livable areas. Other homeowners who have equity in their homes but don’t need to renovate may choose to consolidate debt or make a large purchase.

Are you looking to renovate your home? Happy with your home but interested in a boat, RV or debt consolidation?

Here are some financing options to consider.

Home Equity Loan

Looking for predictable, fixed payments and the flexibility to use your home’s equity in a variety of ways? If you answered

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Posted in home improvement loans

Care downgrades Repco Home Finance’s loan facilities, NCDs to AA-minus

Mumbai (Maharashtra) [India], September 19 (ANI): Care Ratings has revised the rating of Chennai-based Repco Home Finance’s long-term loan facilities and non-convertible debentures worth Rs 1,620 crore to AA-minus with stable outlook from AA with negative outlook.
The revision factors in moderation in the company’s asset quality parameters with increase in gross non-performing assets (GNPAs) from 2.95 per cent in March 2019 to 4.33 per cent in March this year.
Historically, the GNPA levels have remained higher in June and December quarters but remained lower during September and March quarters.
However, GNPA levels continued to remain high during FY20 at above 4.2 per cent in all the four quarters.

“It is worthwhile to note that GNPA level which had witnessed notable increase post-demonetisation is yet to show improvement and currently the GNPA level has further increased,” said Care.
GNPAs witnessed some improvement in June to 4 per cent but continue

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Posted in home improvement loans

Huntington recovery program gets nearly $1M loan guarantee | News

HUNTINGTON — The U.S. Department of Agriculture has invested nearly $1 million in a loan guarantee to expand sober living facilities in Huntington.

The Trump administration announced Tuesday that The Lifehouse Inc. was the recipient of a $930,000 loan via the USA Rural Development Business and Industry Loan Guarantee. The project is one of seven parts of a statewide investment of more than $22.1 million in business and industry loan guarantees.

The Lifehouse Inc. is a voluntary recovery program and sober living home that provides anyone recovering from substance use disorder a drug- and alcohol-free home.

Rocky Meadows, director of The Lifehouse Inc., said the loan has already been put to good use. The program used it to purchase a 21-unit apartment building located at 400 Washington Ave. that created 60 new men’s beds. Meadows said the apartment building provides a better setting and gives the men more space than

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Posted in home improvement loans

New funding expands Home HeadQuarters grant, loan programs for homeowners

Syracuse, N.Y. – Local officials today announced the expansion of grant and loan programs to help homeowners pay for repairs or renovations. The programs are administered by Home HeadQuarters, a nonprofit housing organization.

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Covid-19 emergency home repair grants: Bank of America is providing $100,000 to beef up this grant program, which provides income-eligible homeowners with up to $2,000 for emergency repairs such as replacing hot water tanks, repairing furnaces, and addressing other quality of life and safety issues. To qualify, you must have lost a job or substantial work hours because of the coronavirus pandemic. Home HeadQuarters said it already has more than 125 people on a waiting list.

Get more information here.

Solvay/Geddes home renovation loans: Homeowners throughout Geddes can now get loans of up to $25,000 for home renovations. The loans carry interest at 1% and are repayable over 10 years. They can be used for

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Posted in home improvement loans

Loan vs. Line of Credit: What’s the Difference?

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Posted in home improvement loans

Accurate Group Helps Credit Unions Grow Real Estate Lending Business through Faster Loan Cycle Times, Lower Costs and Innovative Technology

Bundled solutions for property appraisal, title and remote closings accelerate growth and boost credit union efficiency

Accurate Group, a leading provider of technology-driven real estate appraisal, title data, analytics and e-closing solutions, today announced the launch of a bundled solution designed to help credit unions accelerate growth and improve efficiency in real estate lending.

Accurate Group provides the digital framework and modernized appraisal, title and closing processes lenders need to remain competitive in today’s real estate lending environment. The COVID-19 pandemic is posing challenges for real estate lenders – giving credit unions a window of opportunity to seize market share from less nimble competitors by investing in innovation and automation.

Property appraisal, title and closing processes are ripe for automation and technology advancement. By creating a one-stop, bundled solution that addresses these areas with proven, market-leading technology and services, Accurate Group is helping credit unions achieve significant gains in efficiency,

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Posted in home improvement loans

Loan Growth to Aid Bank OZK’s (OZK) Top Line Amid Low Rates

Bank OZK OZK remains well-poised for top-line growth, supported by steadily improving loans along with its strategic growth initiatives. Moreover, given a solid balance sheet position, the company will likely continue to enhance shareholder value through efficient capital deployment activities.

However, pressure on margins remains a major near-term concern for Bank OZK. Continuously increasing operating expenses and the company’s exposure toward risky loans are other major headwinds.

The Zacks Consensus Estimate for its current-year earnings has been unchanged over the past 30 days. As a result, the company currently carries a Zacks Rank #3 (Hold).

Over the past six months, shares of Bank OZK have gained 12.7% compared with a rise of 3.1% of the industry it belongs to.

Looking at fundamentals, though the company’s revenues declined in 2019 and the first half of 2020, the same witnessed a CAGR of 22.8% over the last six years (2014-2019), mainly driven

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Posted in improvements

County Bancorp, Inc. Observes Improvements in Status of Loan Payment Deferrals

Total loan balances under customer support relief program down 50% during the fiscal third quarter-to-date

MANITOWOC, Wis., Sept. 14, 2020 (GLOBE NEWSWIRE) — County Bancorp, Inc. (NASDAQ: ICBK), the parent company for Investors Community Bank (collectively “the Company”), today announced an improvement in customers under payment deferrals related to COVID-19.  

    September 11, 2020     June 30, 2020  
    Customers in payment deferral     Customers on interest only     Principal Balance     Customers in payment deferral     Customers on interest only     Principal Balance  
                    (dollars in millions)                     (dollars in millions)  
Agriculture     10       81     $ 77.6       9       83     $ 84.9  
Commercial     5       9     $ 23.1       35       54     $ 115.5  
     Total     15       90     $ 100.7       44       137     $ 200.4  

“In March, we evaluated the potential impact of COVID-19 on the communities we serve, and our team quickly mobilized to help our customers through this crisis,” said Tim Schneider, CEO of Investors Community Bank. “While we have a variety of capabilities

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