Hard Money Loans

Jupiter Kalambakal – AHN News Reporter
Beijing, China (AHN) – United States oil giant ConocoPhillips has denied allegations it was trying to cover up an oil spill at China’s biggest offshore oilfield off Bohai Bay. China’s State Oceanic Administration (SOA) on Friday ordered the U.S. company to stop operations at the Penglai 19-3 oilfield, since the drilling site had leaked 3,200 barrels of oil since June. In issuing the order, SOA said it found ConocoPhillips’ efforts in a clean-up operation rather slow. ConocoPhillips said it is taking responsibility for the matter, and had been arresting the leak since it first erupted by sealing the source as well as rounding up the containment and clean-up activities. ConocoPhillips co-owns the Penglai 19-3 field with the state-owned China National Offshore Oil Corporation (CNOOC). The Penglai 19-3 oilfield started production in 1999. CNOOC said the suspension of production would reduce [...] Continue Reading…

Yakima, WA, United States (AHN) – Paleteria La Super, Yakima, Washington is voluntarily recalling their NUT, ESQUIMAL, and PINA COLADA flavored ice cream popsicles because they may contain undeclared walnuts, milk, and coconut. People who have an allergy or severe sensitivity to walnuts, milk, and coconut run the risk of serious or life-threatening allergic reaction if they consume this product. The flavored ice cream popsicles contain undeclared allergens as follows: NUT: 3.5 oz. popsicle contains but ingredient statement did not declare Walnuts. ESQUIMAL: 3.5 oz. popsicle contains but ingredient statement did not declare Milk. PINA COLADA: 3.5 oz. popsicle contains but ingredient statement did not declare Coconut. The Nut, Esquimal, and Pina Colada flavor ice cream popsicles were distributed to retail stores in Yakima areas in Washington. Products are sold under Paleteria La Super brand. The products are packaged in clear [...] Continue Reading…

Training & Busines Plan Assistance

Government/State/City Organizations
New York City Department of Small Business
Services www.nyc.gov/sbs

Empire State Development Corporation www.nylovessmallbiz.com 1-800-782-8369

Minority Business Development Agency www.mbda.gov 1-888-324-1551

SCORE www.score.org phone: 1-800-634-0245

Small Business Administration (SBA) www.sba.gov phone: 1-800-8-ASK-SBA or 202-205-7064

Small Business Development Centers (SBDC) www.sba.gov/sbdc phone: 1-800-8-ASK-SBA or
202-205-7064

Women Business Center (WBC) www.onlinewbc.gov phone: 202 205-6673

New York City

ACCÍON New York www.accionnewyork.org
phone: 212-387- 0494

BOC Capital Corp. – Business Outreach Center
Network www.bocnet.org/boccapitalcorp phone: 718-
625-1296

Count Me In www.count-me-in.org phone: 212-
245-1245

National Development Council – Grow America
Fund www.nationaldevelopmentcouncil.org phone:
212-682-1106

National Minority Business Council www.nmbc.
org phone: 212-997-4753

New York Association for New Americas
– NYANA www.nyana.org phone: 212-425-2900

New York City Financial Network Action Consortium
www.nycfnac.org phone: 718-260-0099,
Ext. 101

New York Community Investment Company
www.nycic.com phone: 212-693-0870

Project Enterprise www.projectenterprise.org phone:
212-678-6734

Renaissance Economic Development Corporation
www.renaissance-ny.org phone: 212-964-6022,
Ext. 221

Seedco www.seedco.org phone: (212) 473-0255
Trickle-Up Program www.trickleup.org phone:
212.255.9980

Women’s Venture Fund www.womensventurefund.

The 504 Loan Program provides financing for long-term major fixed assets at a fixed rate. It is offered through a Certified Development Company. A CDC is a non-profit corporation that works with the SBA and private lenders to provide capital for small entrepreneurs. The deals have the following structure: a private lender with a senior lien on the property funds 50%; the CDC (backed by the SBA) funds 40% with a junior lien, and the entrepreneur funds 10%.

The SBA also offers special-purpose loans, although these are much less common and harder to get. Please check the SBA Web site (http://www.sba.gov) for more information on any of the aforementioned programs.

CDC Fund Uses
The applicant can use CDC funds for purchasing land, facilities, and improvements including:
· Construction of new facilities.
· Modernizing or fixing existing facilities.
· Long-term machinery or equipment.
· Existing buildings.
· Utilities.
· Parking lots and landscaping.
· Grading.
· Street improvements.

504 Loan Limitations
The applicant cannot use the loan proceeds [...] Continue Reading…

Approaching Hard Money Lenders in New York? You came to the right place.

First, Hard Money Loans are business loans for property lend to by a private investor. The terms of the deal will depend on the type of business projetions on the proterty to be purchased and the liquidation value. Typically theses types of loan act like a bridge loan, where traditional bank financing can not be obtain, for example when the property is in arrears, distressed or bankruptcy.

How are these loans structure, hard money lenders in new york, typically structure the loan on 60 to 70% the loan value. Which means that if the property is worth 200k, you can expect 120 to 140k loan and you will need to carry the rest based on equity invested. Since the property is the collateral, good credit is not required, just a good business [...] Continue Reading…

Anil Giri – AHN News Correspondent
Nepal (AHN) – Nepal’s government has banned smoking and chewing tobacco in any public places. The law becomes effective after 90 days, according to the Nepali legal provision. With the implementation of the law, tobacco companies must allocate 75 percent of the space on packets, wrappers or labels of any tobacco product for anti-tobacco use messages and pictures, becoming the first Asian country to make such provision mandatory. Health Secretary Sudha Sharma said that a massive awareness campaign will be launched nationwide to enforce the new provision to combat the tobacco related deaths that increase every year. The bill bans smoking in government offices, educational and health institutions, airports, public vehicles, daycare centres, old-age homes, orphanages, clubs, public toilets, industries, factories, theatres, cinema halls, hotels, restaurants, canteens, hostels, lodges and guesthouses. Stadiums, covered halls, swimming pools, department stores and religious places [...] Continue Reading…

Are you in the market for a new loan? Perhaps you feel you need the loan to purchase electronics or other goods? Before you even start shopping for the loan you need to ask yourself if you truly need that money. What is the loan being used for? How much do you really need? If you take out an unsecured personal loan for a vacation are you really using the money as it should be used? Did you decide to take out a loan to buy stocks?
Obtaining a loan for fruitless reasons will often cause your debt to be higher and you could enter into an issue such as not being able to pay it back if you suddenly lose your job. The point is that you must really decide if you truly need the loan or if there is another solution to the money problem. Credit card consolidation [...] Continue Reading…

Diane Alter – AHN News Trivia Writer
United States (AHN) – If it’s free, they will come. Monday, July 11, the nation’s largest convenience store chain, 7-11, is expecting to give away as many as 5 million 7.11 ounce Slurpees across the nation. That amounts to roughly 1,000 free Slurpees per store. There is no catch; no coupons are needed; and no questions will be asked. The only question is in the mind of Nancy Smith, vice president of marketing for 7-11: How much will sales increase for the day? When the company handed out 4.5 million free Slurpees last July 11, sales spiked 38 percent. It seems that after customers got a small sample of the drink, they were willing to buy more. Smith said, “Slurpee drinkers are some of the most loyal fans we have. They come here to have fun.” They can also [...] Continue Reading…

Linda Young – AHN News Writer
New York, NY, United States (AHN) – Online money movement service PayPal is ending its Money Market accounts. In an email that PayPal Money Market Fund customers reported receiving, PayPal said it was closing its Money Market Fund effective Wednesday. Any money in a customer’s Money Market Fund accounts will be transferred to their regular PayPal account by Aug.1. PayPal said that market conditions diminished the financial advantage of money market accounts for their customers. All providers of money market accounts have reduced interest rates in recent years. However, the interest rate PayPal offered on money market accounts had lagged behind some of its competitors, including ING.

Article © AHN – All Rights Reserved

View full post on Company Information Stories