Credit

Kennedy Funding Closes $2.64 Million Land Loan for Farming Business Expansion in Brazil

Retrieved on: 
Tuesday, April 6, 2021
Credit, Loans

The Englewood Cliffs, New Jersey-based direct private lender announced today that it has closed a $2.64 million agricultural land loan to Scariot Agro Business, LLC.

Key Points: 
  • The Englewood Cliffs, New Jersey-based direct private lender announced today that it has closed a $2.64 million agricultural land loan to Scariot Agro Business, LLC.
  • Loan proceeds will be used as working capital to grow the company's farming business on a 78.775-acre tract near downtown, Camaari, Brazil.
  • "Few American lenders would even consider doing business in Brazil or any South American country," said Kevin Wolfer, President and CEO, Kennedy Funding.
  • Their creative financing expertise provides funding up to 75% loan-to-value, from $1 million ($3 million international) to more than $50 million in as little as five days.

AFC Gamma Provides FarmaceuticalRX with Senior Secured Credit Facility of up to $21 Million to Fund Its Ohio Expansion

Property law, Credit, Business law, Lien, Line of credit, Articles, Law, Legal systems

Rebecca Meyers, FarmRXs Chief Executive Officer, added, I am thrilled to partner with AFC Gamma as we build out FarmRXs presence in Ohio.

Key Points: 
  • Rebecca Meyers, FarmRXs Chief Executive Officer, added, I am thrilled to partner with AFC Gamma as we build out FarmRXs presence in Ohio.
  • AFC provided us with industry expertise and a tailored solution that met our needs, providing seamless execution in a timely manner.
  • AFC will hold up to $21 million of the credit facility, which consists of a first-lien term loan that can be drawn upon over the course of a one-year period.
  • The FarmaceuticalRX affiliated companies are licensed to offer premier high quality medical marijuana products to more than 26 million patients in Ohio and Pennsylvania.

2021 Credit Card Data Book: Key Industry Metrics to Watch in 2021 - ResearchAndMarkets.com

Retrieved on: 
Tuesday, April 6, 2021
Professional services, Finance, Money, Finance, Payment systems, Economy, Credit card, Credit, Debt, Charge-off, Personal finance

The "The 2021 Credit Card Data Book Part One: Internal Dynamics" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "The 2021 Credit Card Data Book Part One: Internal Dynamics" report has been added to ResearchAndMarkets.com's offering.
  • Unlike 2019, which was a banner year for many credit card issuers, 2020 proved to be far more tumultuous.
  • Despite the potential for an economic disaster, however, the credit card industry remains largely stable, with delinquencies down across all loan types.
  • According to the new report, The 2021 Credit Card Data Book Part One: Internal Dynamics, 2021 will likely end with a manageable rise in charge-offs.

Administrative Advantage Provides Notice of Data Event

Retrieved on: 
Tuesday, April 6, 2021
Credit, Credit freeze, Identity theft, Freeze

SAVANNAH, Ga., April 5, 2021 /PRNewswire/ --Administrative Advantage ("AA") provides billing support services to certain healthcare providers.

Key Points: 
  • SAVANNAH, Ga., April 5, 2021 /PRNewswire/ --Administrative Advantage ("AA") provides billing support services to certain healthcare providers.
  • AA is providing this notice on behalf of its customer, Remedy Medical Group, a medical practice with offices in San Mateo, San Francisco and Oakland, California.
  • To date, AA is unaware of any actual or attempted misuse of information as a result of this incident.
  • Pursuant to federal law, a consumer cannot be charged to place or lift a credit freeze on your credit report.

'Learn How to Improve Your Credit, Meet Tiko the Panda, and Earn Some Free Restaurant Cash Too' - Uptrend Credit Counseling Introduces Its New Brand-Icon and Offers Restaurant Certificates as Part of Ongoing Effort to Educate Underserved Communities on Cr

Retrieved on: 
Monday, April 5, 2021
Credit, Credit score in the United States, Personal finance

Uptrend has a particular interest in helping to educate subprime and minority communities those hardest hit financially by the COVID-19 pandemic.

Key Points: 
  • Uptrend has a particular interest in helping to educate subprime and minority communities those hardest hit financially by the COVID-19 pandemic.
  • "Our goal has always been to help underserved communities, and that's become even more important now during the pandemic," said Wesley Paul, Founder of Uptrend.
  • "So many people have lost their jobs, and with little income, the effects start damaging one's credit score quickly.
  • There are many credit-repair companies out there, but our commitment to serving mainly minority communities provides us the confidence in the personal credit improvement marketplace.

Avon Grows Business and Cuts Bad Debt in Brazil with Cloud-Hosted FICO Decisioning Platform

Retrieved on: 
Monday, April 5, 2021
FICO, Interoperability, Cloud computing, Computing, Articles, Personal finance, Economy, Credit

Importantly, the user-friendly nature of the platform allows credit managers to implement policies themselves in a matter of hours.

Key Points: 
  • Importantly, the user-friendly nature of the platform allows credit managers to implement policies themselves in a matter of hours.
  • It became clear that the existing infrastructure would not be able to offer Avon the agility, interoperability, and decision quality it needed.
  • The move to a modern cloud-based credit decision engine has delivered Avon a significant business boost."
  • For more information about Avon, visit the website: www.avon.com.br
    The FICO Decisions Awards recognize organizations that are achieving remarkable success using FICO solutions.

PennantPark Floating Rate Capital Ltd. Announces Monthly Distribution of $0.095 per Share

Retrieved on: 
Monday, April 5, 2021
Money, Finance, Economy, Loans, Debt, Credit, Bankruptcy, Financial law, Second lien loan, Secured loan, Subordinated debt, Lien

NEW YORK, April 05, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for April 2021 of $0.095 per share, payable on May 3, 2021 to stockholders of record as of April 15, 2021.

Key Points: 
  • NEW YORK, April 05, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for April 2021 of $0.095 per share, payable on May 3, 2021 to stockholders of record as of April 15, 2021.
  • ABOUT PENNANTPARK FLOATING RATE CAPITAL LTD.
    PennantPark Floating Rate Capital Ltd. is a business development company which primarily invests in U.S. middle-market private companies in the form of floating rate senior secured loans, including first lien secured debt, second lien secured debt and subordinated debt.
  • PennantPark Floating Rate Capital Ltd. is managed by PennantPark Investment Advisers, LLC.
  • PennantPark Floating Rate Capital Ltd. undertakes no duty to update any forward-looking statement made herein.

Magnite Announces Pricing and Syndication of New Term Loan B and Revolver

Retrieved on: 
Monday, April 5, 2021
Finance, Money, Economy, Corporate finance, Credit, Convertible bond, Revolving credit, Magnite, rEVOLVEr, Loans

LOS ANGELES, April 05, 2021 (GLOBE NEWSWIRE) -- Magnite (Nasdaq: MGNI) today announced that it has reached agreement in principle on pricing and syndication for a 7-year $360 million senior secured term loan B (the Term Loan B) and a 5-year $52.5 million senior secured revolving credit facility (the Revolver and together with the Term Loan B, the Facilities).

Key Points: 
  • LOS ANGELES, April 05, 2021 (GLOBE NEWSWIRE) -- Magnite (Nasdaq: MGNI) today announced that it has reached agreement in principle on pricing and syndication for a 7-year $360 million senior secured term loan B (the Term Loan B) and a 5-year $52.5 million senior secured revolving credit facility (the Revolver and together with the Term Loan B, the Facilities).
  • Magnites Chief Financial Officer, David Day, said, The Term Loan B and Revolver agreement in principle complete our financing for the pending SpotX acquisition announced on February 5th.
  • We believe the combination of Convertible Notes, Term Loan B and Revolver, and equity reflect an attractive means of financing the SpotX acquisition and result in a balanced capital structure for Magnite going forward.
  • The new capital structure will result in a blended cash interest rate of 2.9% when combining the Term Loan B and the Convertible Notes.

LoanPro Gives Out $100K+ in Free Gifts

Retrieved on: 
Monday, April 5, 2021
Money, Finance, Economy, Business process, Groupware, Workflow, Credit, Loans, Banking

The branded "LoanPro BOX" is being given out free of charge in a multifaceted effort to both increase brand awareness throughout the lending ecosystem as well as say "thank you" to their valued lender/lessor clients.

Key Points: 
  • The branded "LoanPro BOX" is being given out free of charge in a multifaceted effort to both increase brand awareness throughout the lending ecosystem as well as say "thank you" to their valued lender/lessor clients.
  • When asked about the LoanPro BOX, Lloyd Roberts, CRO of LoanPro, said: "The LoanPro BOX is our way of sharing a piece of LoanPro's creative culture, passion for loan workflow automation, as well as our vision of improved data visibility with our current and future lender friends.
  • With more and more orders for the LoanPro BOX coming in daily, LoanPro hopes to give thousands of LoanPro boxes away as a gesture of appreciation and establish themselves as a valued partner to lenders searching for an automated, tech forward lending solution.
  • LoanPro is hosted on Amazon Web Services (AWS) "the cloud" and is designed to streamline both loan servicing and loan collections workflows.

Americans Emerge From 2020 With Renewed Focus on Personal Finances

Retrieved on: 
Monday, April 5, 2021
Finance, Women, Consumer, Professional services, MEN, Finance, Money, Personal finance, Credit scoring, Economy, Credit, Credit score in the United States, Credit score, FICO, FICO, Experian

Findings reveal many Americans feel more optimistic about their finances and demonstrated prowess in managing their money and credit scores during the pandemic, which attributed to the average credit score increasing in 2020.

Key Points: 
  • Findings reveal many Americans feel more optimistic about their finances and demonstrated prowess in managing their money and credit scores during the pandemic, which attributed to the average credit score increasing in 2020.
  • According to Experian research , the average FICO Score hit a record high of 710 last year, a seven point increase from 2019.
  • Survey respondents indicated they feel less worried about personal finances today, with 55 percent feeling concerned vs. 69 percent in 2020.
  • As we hopefully turn a corner now, we can take time to reflect on how our finances were impacted and plan ahead.