Newsweek: Students increasingly hit by high-interest loans Nov 21, 2009
For example, Westwood, which operates 17 campuses nationwide and offers online-degree programs as well, hands out direct loans to about a quarter of its 17,000 students. Like most privately held companies, it isn't required to disclose just how much money it loans out. (MSNBC -- Business)
Interest in exporting gaining speed locally Nov 2, 2009
fl.us/ fefc/Florida Export Finance Corp. is a state-sponsored nonprofit organization offering direct loans up to $50,000 or loan guarantees of up to $500,000 to qualified Florida-based small and medium-sized businesses. Related Stories. (The News-Press -- Business)
Nicholas Financial loan worries ease Oct 30, 2009
Nicholas Financial acquires and services contracts for purchases of new and used automobiles and light trucks, and offers direct loans and sells consumer-finance related products. Most Read Stories. (Tampa Bay Business Journal, FL)
WyoLoan to suspend practices in March Oct 26, 2009
Supporters of the legislation, the Student Aid and Fiscal Responsibility Act of 2009, say direct loans from the government will protect students from market swings. But WyoLoan, as well as Wyoming's congressional delegation, say the bill takes away students' right to choose their own lender. (Casper Star-Tribune, WY)
Small businesses continue to benefit from SBAs loan programs Oct 20, 2009
We actually don t do direct loans, Zarnikow said. We provide a partial government guarantee of a loan that is made by a bank, credit union, small-business lending corporation or certified development company. (Twin Cities Business Journal, MN)
More needs to be done Sep 30, 2009
The Student Aid and Fiscal Responsibility Act now goes to the Senate. Now may the Senate do the same thing. (Somerset Daily American, PA)
House poised to approve plan that revamps student aid Sep 18, 2009
"After years of explaining my approach, and years of defending direct loans from misleading attacks by the private student loan industry, we are an important step closer to settling the debate," Petri said. Momentum for eliminating the subsidy program began building in recent years amid scandals, including one involving kickbacks among college officials and private lenders. (Honolulu Advertiser)
House OKs bill for takeover of student loans Sep 18, 2009
The measure would end the subsidized loan program under which private lenders made $56 billion in government-backed loans to more than 6 million students last year, compared with $14 billion in direct loans from the government. The bill would also shorten the labyrinthine college aid form, which Obama proposed to eliminate altogether when he ran for president. (MSNBC -- Politics)
House bill would kill subsidized student loans Sep 18, 2009
The measure would end the subsidized loan program under which private lenders made $56 billion in loans backed by the government to more than 6 million students last year, compared with $14 billion in direct loans from the government. Private lenders employ more than 30,000 people whose jobs depend on the subsidized loan program, and the industry says many would be laid off. (AZCentral -- Business)
House approves Obama plan to put end to student loan subsidies Sep 18, 2009
While the shift to direct loans may lead some lenders to get out of the business, there will still be a very clear role for private lenders, Roberto Rodriguez, special assistant to the president for education policy, said. Copyright 2009 Globe Newspaper Company. (Boston Globe)
What clean energy bill means to you Sep 5, 2009
ACES creates a new Department of Energy administration to promote domestic development and deployment of clean-energy technologies with direct loans, loan guarantees, and letters of credit, and these include nuclear power who also increase and reform existing loans. New reactors may continue to be stifled by economic competition; however, existing plants are unlikely to be decommissioned quickly. (Nogales International, AZ)
Aerospace firm gets $2 million Sep 2, 2009
NEWINGTON - The Connecticut Development Authority board of directors has approved $4 million in direct loans to three Connecticut companies, including one in Newington. "We continue our aggressive outreach to state manufacturers to help them retain and grow jobs," Gov. M. Jodi Rell said in a statement. (Newington Town Crier, CT)
Newsweek: Should we trust the Fed? Aug 12, 2009
As the mutated into a full-fledged global credit crisis, America's central bank, led by Chairman , responded with unprecedented actions, bailing out companies, slashing interest rates aggressively, propping up markets, and making direct loans to Wall Street firms. In his new book, , David Wessel, a veteran Wall Street Journalcolumnist, chronicles the efforts to combat a financial meltdown. (MSNBC -- Business)
S.D. towns share in USDA water project money Aug 4, 2009
The funds are in the form of direct loans and grants. Rosholt gets a 562,000 direct loan and a 753,000 grant, while Bowdle receives a 738,000 direct loan and a 517,000 grant. (Sioux City Journal, IO)
Governor Rendell Urges USDA Secretary to Help PA Dairy Farmers Jul 25, 2009
Such loans to farmers, whether Marketing Assistance Loans, FHA loans, USDA Guaranteed and Direct Loans, or Low Interest Storage Loans, constitute a sizeable portion of the debt that many dairy farmers now hold, and they are increasingly unable to pay them. It only makes matters worse when farmers' loan delinquencies to the USDA are causing reductions in MILC and other FSA payments they need to keep afloat. (PR Newswire)
Plan eases the burden of student loans Jul 22, 2009
All Federal Direct Loans (FDL) and federally guaranteed loans (FFEL) are eligible for the IBR program, including subsidized and unsubsidized Federal Stafford loans; Federal Grad PLUS loans; and Federal Direct Consolidation loans. Loans that do not qualify for the program include Parent PLUS loans and loans made by a state or private lender and not guaranteed by the federal government. (Oswego Palladium-Times, NY)
End student-loan profiteering Jul 20, 2009
The federal government already provides some direct loans to students, granting $20. 1 billion to students in 2008-2009. (Boston Globe)
Wells tries to keep stake in student loans Jul 15, 2009
Last month, the Department of Education chose among six finalists, including Wells Fargo, for long-term contracts to service its existing direct loans. Unfortunately, Wells didn't make the chosen four. (San Francisco Chronicle -- Business)
Georgia banks on brink of collapse? Not quite Jul 6, 2009
Most of the problem loans at Georgia s banks are direct loans to developers and builders, not individual home mortgage loans and certainly not subprime loans. Main Street Georgia banks did not heavily participate in products and services supported by the unregulated Wall Street model that collapsed last fall. (Atlanta Journal-Constitution -- Business)
Bengal aims Rs 500 cr land loans Jul 6, 2009
Uco Bank executive director BM Mittal said his bank follows a policy not to offer direct loans for land acquisition even if the borrower is a state government. United Bank too takes a similar stance when it comes to financing land acquisitions. (India Times)
New College-Loan Plan: Pay Back By What You Earn Jul 2, 2009
And if the Education Department is serious about abolishing the two-track loan system (in which it provides direct loans as well as subsidizes private-lender loans), this is just one more way of convincing borrowers to throw their hat in with the feds. One big upside is likely to be a reduction in the number of people who default on their student loans, a financial disaster that can destroy credit ratings and hike up interest rates on future loans. (Time.com)
IPO Comeback Starting Now, Cleantech Investors Say Jun 26, 2009
Tesla had been planning an IPO before the downturn and for $465 million in low-interest direct loans from the Department of Energy under the delayed Advanced Technology Vehicle Manufacturing Program. The IPO market is already showing a few signs of life in the second quarter, said Brian Goucher, director of the cleantech practice at Deloitte, who expects to see increasing vitality in subsequent quarters. (Salon)
In English, Please: FOMC Meeting Jun 24, 2009
The Committee will continue to carefully monitor the size and composition of the Federal Reserve's balance sheet in light of evolving financial and economic developments [FOMC put a more precise date by autumn on its plans to buy longer-term Treasury securities and added its plans to evaluate the timing and overall amounts of its purchases of securities in light of the evolving economic outlook and conditions in financial markets but eliminated the reference to expanding the... (Fox News)
Full Story » Jun 23, 2009
Mortgage Investors for Direct Loans and Funding. Call Us Toll-Free. (Yahoo News -- Politics)
Small Business News & Events for Sunday, June 14, 2009 Jun 16, 2009
Programs being covered include business and industry guaranteed loans; rural business enterprise grants; community facility direct loans, grants, and combinations; water and waste direct loans, grants and combinations; single family housing direct and guaranteed loans; and broadband loans and grants. For more information contact Karen Uyesono, area assistant at 245-9014 or e-mail. (Lihue Garden Island, HA)
House panel tackles climate change bill May 20, 2009
The adopted amendment would create a "clean energy" bank within the Energy Department to provide direct loans and government loan guarantees for projects that use clean. The committee also adopted a "cash for clunkers" program, which gives consumers vouchers worth $3,500 or $4,500 toward the purchase of a fuel-efficient vehicle if they turn in their cars and trucks that burn more fuel. (Scientific American)
Students lobby to congressmen for more federal aid May 16, 2009
The group met with the state s elected representatives in Congress to discuss more funding for federal aid programs, including Pell Grants, Work Study, Perkins Loans and other forms of direct loans to help students pay for their education ... The whole point of [Student Advocacy Day] is to explain that there is a need for more federal and financial aid, said Keating, who has two younger brothers at the University and uses direct loans to pay for school. (The Daily Targum, NJ)
Nicholas Financial profit cut in half May 6, 2009
Nicholas Financial buys and services contracts for vehicle purchases and also makes direct loans. Reader Comments. (Tampa Bay Business Journal, FL)
Biden Calls Affordable College A Priority Apr 28, 2009
Expand and simplify direct loans, making the application process easier for students. The complexity of FAFSA was a major deterrent against students using federal loans, according to Bidens report. (CBS News -- 60 minutes)
Battery makers want stimulus jump-start Apr 28, 2009
There s $2 billion available for battery technology through the American Recovery and Reinvestment Act of 2009, in addition to $25 billion in direct loans for advanced vehicles, including related energy-storage technologies. Potential passage of the American Clean Energy and Security Act of 2009 could also offer a comprehensive approach to the country s energy policy. (San Jose Business Journal, CA)
Export-import bank 'best game in town' as banks retreat Apr 16, 2009
The bank also has received 15 applications for direct loans so far this year, up from two for all of fiscal 2008. The bank said it makes about 2,600 financing transactions each year. (Sydney Morning Herald -- Business)
Fifth Third pays $42.6M dividend to feds Apr 6, 2009
2 billion in auto and other direct loans, $843 million in renewed commercial and industrial credit lines, $11. 8 billion in new commercial loan commitments and $1. (Cincinnati Business Courier, OH)
Vildack Announces First Wave of USDA Economic Stimulus Funding (3) Apr 5, 2009
Specifically, The Farm Service Agency (FSA) will use immediately 145 million of the 173 million provided in the Recovery Act for its Direct Operating Farm Loan Program, which will give 2,042 farmers almost 50 percent are beginning farmers and 10 percent are socially disadvantaged producers - direct loans from the agency ... USDA Rural Development will also release funding for more than 400 million in pending applications for Water and Waste grants and 140 million in pending applications for... (Agri-View, WI)
Nelson Cited As "Emblematic" Of Administration's Problems Apr 2, 2009
Several studies have shown the governments program of direct loans and grants is more efficient, could provide more dollars for students and would save billions of taxpayer dollars ... But every time a school opts for FFEL, the taxpayer loses because the costs to the government far exceed the costs of direct loans. (Nebraska Statepaper)
$60M Pot Of Goldman Mar 28, 2009
However, Winkelried and Palm weren't eligible for direct loans as a result of their being high-ranking executives within the firm. Palm, who has worked at Goldman since 1992, boasts a cushy Park Avenue pad and a house in Summit, NJ.. (New York Post -- Business)
Cincinnati developers not waiting for cavalry Mar 21, 2009
Banks and insurance companies, which once fueled real estate development by making direct loans and investing in mortgage-backed securities, are trying to rid their portfolios of risk. Small community banks and private investors are finding it difficult to pick up the slack. (Cincinnati Business Courier, OH)
More of this story Mar 11, 2009
DHHL intends to utilize the loan program as an institutional borrower to construct houses for purchase by low-income borrowers by way of direct loans from DHHL.. Lanakila Homes and Kalihi Valley Homes Housing Project $855,000. (Lihue Garden Island, HA)
Government's direct student loan program gets a boost Mar 10, 2009
DIRECT LOANS SURGED LAST YEAR ... The administration's budget proposes replacing the 44-year-old Federal Family Education Loan Program with direct loans from the government ... More than 1,600 schools were offering direct loans in February, up 548 from a year earlier, according to the Department of Education. (USA Today -- Money)
Obama urges axing subsidies for student lenders Feb 27, 2009
The government now offers direct loans through colleges and guarantees for loans made by private lenders such as New York-based Citigroup and Reston-based Sallie Mae, officially SLM Corp. Mr. Obama proposed the change in the budget he submitted to Congress on Thursday. Education Secretary Arne Duncan said switching to government-funded loans would save more than $4 billion a year. (Insight on the News)
* Cooperation and investment in poor regions are key to recovery Feb 26, 2009
The new financing would include direct loans from rich countries export-credit agencies to enable poor countries to borrow long-term (for example, 40 years) to build roads, power grids, renewable energy generation, ports, fiber optic networks and water and sanitation systems. The G20 should also increase the lending capacity of the World Bank, the African Development Bank and other international financial institutions. (Taipei Times, Taiwan -- Business)
US DOE to Streamline Stimulus Spending, Chu Tells Platts Energy Podium Feb 20, 2009
The new process will affect the way DOE issues direct loans, loan guarantees and grants. The department has long been criticized for the slow pace that it uses to decide on such assistance. (PR Newswire)
U.S. Auto Suppliers Seek $18.5 Billion in Government Aid Feb 14, 2009
5 billion in guarantees for receivables and accelerated payment terms, as well as $8 billion in direct loans, OESA President Neil De Koker said. "I have been in the industry since 1962 and I have never seen anything like this," De Koker said of the current situation for suppliers. (ABC News -- Wire)
Fed Lends Less to Banks, Financials in Latest Week Feb 13, 2009
NEW YORK (Reuters) - The Federal Reserve made fewer direct loans to banks and financial companies at the discount window in the latest week, resuming the trend of recent declines, Fed data showed on Thursday. But banks have remained reliant on the lender of last resort, as lending conditions are still skewed by the global credit crunch. (ABC News -- Wire)
Up, down commodity prices leave farmers uneasy Feb 9, 2009
Brian Gossling, the farm loan program director for the agency in Iowa, said the organization offers direct loans as well as a program that guarantees 90 percent of a bank's loan to a farmer as additional collateral. Gossling said the program, which provides "some stability and incentive to banks to continue to make loans during riskier times," should have enough money to meet an increased demand. (Fresno Bee -- Business)
Little help for small businesses Feb 8, 2009
The bill would grant the SBA the authority to make direct loans and to establish a secondary market lending authority within the SBA that could make loans to systemically important lenders as well as guarantee pools of SBA loans sold to investors. Can you say, Here we go again. (Atlanta Journal-Constitution -- Business)
Economy goes beyond Limbaugh Feb 8, 2009
Robert Gary wrote on Feb 2, 2009 1:43 PM:" The most instantly stimulative thing that could be done is a FICA tax holiday for the rest of 2009. That puts the money precisely where it needs to go. It is progressive, not retrogressive. It rewards the working poor in a proportionately larger measure (proportionately means not dollar for dollar but rather as a percentage of their gross annual revenues).The second most stimulative thing that could be done is for the SBA to go back to making direct... (Atmore Advance, AL)
Report: Car suppliers want $20.5 billion Feb 7, 2009
Magazine: Firms' requests include $10 million in direct loans from Treasury ... Suppliers are asking for $10 billion in direct loans from the U.S. Treasury Department, the magazine said Wednesday, citing Neil De Koker, president of the Original Equipment Suppliers Association. (MSNBC -- Business)
