Oil Financial Market – Atlanti Gaz http://atlantigaz.com/ Mon, 14 Feb 2022 04:55:12 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://atlantigaz.com/wp-content/uploads/2021/04/cropped-icon-1-32x32.png Oil Financial Market – Atlanti Gaz http://atlantigaz.com/ 32 32 How do I apply for same-day loans https://atlantigaz.com/how-do-i-apply-for-same-day-loans/ Mon, 14 Feb 2022 04:52:49 +0000 https://atlantigaz.com/?p=5238 If you choose to apply for a sameday loan then follow these four steps for applying:

Compare and shop around different lenders.

Don’t choose the first one you come across. Consider all lenders to locate the best credit for your requirements. Make sure you examine rates and any charges imposed by the lending institution. With credibility, you are able to quickly compare prequalified rates from a variety of lenders in less than two minutes after filling in a single form.

Fill out the form

If you qualify for personal loans then you’ll have to submit a complete application as well as complete any required documents. Be sure to complete and accurately complete the application and submit the documents promptly to avoid delays.

Accept the loan offer

Review your loan offer thoroughly to ensure there aren’t any surprises later in the future. If you are satisfied with the terms, you can confirm that you have accepted the loan and begin the financing process.

How to get your money

If receiving your funds through Direct Deposit You’ll need to enter the routing number of your bank as well as your account number. This allows the lender to direct deposit the funds to your bank account.

What do you need to know prior to making a decision to take out a same-day loan?

Before you take out a loan, make certain to research the lender thoroughly and go over the conditions and terms. If you’re unable to meet the necessary repayments, then the loan may not be the best option to meet your financial needs. Be aware that you may be able to take out a modest loan from some lenders, and it can be more affordable to pay back over the long term.

It is also common to require evidence with your application like paystubs or the most current tax returns to prove your earnings.

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Additional $ 2.2 Million Available to Help Small Businesses COVID-19 https://atlantigaz.com/additional-2-2-million-available-to-help-small-businesses-covid-19/ Thu, 08 Apr 2021 02:38:30 +0000 https://atlantigaz.com/additional-2-2-million-available-to-help-small-businesses-covid-19/

LOUISVILLE, Ky. – The Louisville Metropolitan Government (LMG) has reached an agreement with Park Community Credit Union that will administer a $ 2.2 million fund to help small businesses, which have been financially affected by the COVID-19 pandemic. The funds were made available through federal grants for community development.

“COVID-19 was not in anyone’s business plan, especially our small businesses, which are so essential to our city’s culture and economic life,” said Mayor Greg Fischer. “This fund can help the local businesses we all love to keep operations as we continue to fight this virus. The fund was specially designed with fairness in mind, and I want to thank Park Community Credit Union, a great community partner with experience working in disinvested neighborhoods, for joining us in distributing these federal dollars.

Approximately 50% of the total funds will be distributed as grants to small businesses located in and / or primarily serving West Louisville, Smoketown and Shelby Park. The remaining half will be distributed in the form of loans to any small business located in Louisville. Minority and female-owned businesses will be given preference for loans and grants. Grants and loan products will be offered to eligible businesses on a first come, first served basis. The loans will be available from $ 5,000 to $ 150,000 with a maximum term of 84 months and a fixed rate of 0.75% APR. Grants will be offered up to $ 50,000.

“Park Community is honored to be awarded this COVID-19 Small Business Assistance Fund from the Louisville Metropolitan Government,” said Jim Spradlin, President and CEO of Park Community Credit Union. “Our long-standing mission has been to provide fair and affordable financial services, products and education to all communities in Kentucky. Our goal is to provide money in the form of grants and low-interest loans in response to the stress COVID-19 has placed on business owners, retailers and the workforce. We want to invest in long term impact for the Louisville small business community.

Small businesses, for the purposes of this fund, are defined as businesses with fewer than 300 employees and an average annual income of less than $ 20 million. The funds should be used to support business operations (salary, rent, utilities, etc.).

The application window will open on Monday, March 29. To apply for a loan or grant, applicants should visit https://parkcommunity.com/smallbusiness/ complete an interest form. Applicants for grants and loans must provide, among other things, a request for funding and how the funds will be spent; financial supporting documents; and a summary of the candidate’s business and how COVID-19 has affected operations and staffing. Grant applicants must provide a letter of reference from a community member.

In addition to this $ 2.2 million fund, LMG administered nearly $ 30 million in loans and grants to 894 small businesses for COVID-19 aid and assistance. More information can be found here: https://louisvilleky.gov/government/louisville-forward/covid-19-relief-grants-and-loans.

Other COVID-19 resources for small businesses can be found here: https://louisvilleky.gov/government/louisville-forward/small-business-resources-covid-19.

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Measure C, which would expand the convention center, was passed last year, according to the San Diego council. Or did he do it? https://atlantigaz.com/measure-c-which-would-expand-the-convention-center-was-passed-last-year-according-to-the-san-diego-council-or-did-he-do-it/ Thu, 08 Apr 2021 02:38:17 +0000 https://atlantigaz.com/measure-c-which-would-expand-the-convention-center-was-passed-last-year-according-to-the-san-diego-council-or-did-he-do-it/

San Diego’s elected leaders took key steps on Tuesday to turn a loss at the polls a year ago into one that could potentially pave the way for funding a long-running expansion of the city’s convention center, homeless services and road repairs.

In question, measure C, which aimed to increase the city’s hotel tax to raise nearly $ 7 billion to finance the three civic initiatives. The proposal technically failed because it failed to garner the two-thirds majority required for approval, although it came close to it – to 65.24%.

Since then, however, there have been three appeals court decisions finding that a simple majority approval is sufficient when a tax hike is put to a citizen vote, which was the case with the measure. C. The State Supreme Court has so far refused review in two of these cases, which is seen as an encouraging sign for supporters of the measure C. A third case is awaiting review by the High Court.

Bolstered by these rulings, the council agreed on Tuesday to formally declare that the ballot measure was approved in the March 3 election last year and to ask the city attorney’s office Mara Elliott to file what is being done. calls for a validation process to legally confirm whether the measurement did or not. past. The council also approved a resolution authorizing the future issuance of bonds for the expansion of the convention center and programs for the homeless. No bonds, however, would be issued and no increased hotel taxes would be levied until there is a favorable ruling in the city’s validation process.

Mayor Todd Gloria, who had called on council to take action on Measure C, was pleased with the outcome, despite some dissenting voices.

“The city, by taking this particular step, we believe, will bring us to a judge more quickly than if supporters of the measure did,” Gloria said following the 6-3 vote, along with board members Vivian Moreno, Monica Montgomery Steppe and Sean Elo-Rivera opposed it. “It’s a big problem. We’ve already waited a year, longer than we should have. It’s time. We don’t need to take the slow boat on everything. We benefit from the case law, and this action will tackle homelessness, which is the number one problem people are telling me about. It’s time to stop talking.

Some council members, however, questioned the message they would send to the electorate by deciding that a ballot measure was passed when voters were informed a year ago that a victory required nothing. less than a two-thirds majority, which she did not get.

“My vote today is about the integrity of our democratic process,” Elo-Rivera said. “Today’s vote is not about the merits of Measure C. It’s not about expanding the convention center, creating well-paying jobs, or funding roaming and infrastructure. These are attractive red herrings… For the city, certifying that the measure adopted although it did not reach a threshold that we communicated to the voters is a disappointing and unnecessary relaxation of our commitment to maintain the purity of the democratic process from the city.

If the city is successful in its legal effort, an approved Measure C would increase San Diego’s 10.5 percent hotel tax to 11.75 percent, 12.75 percent, or 13.75 percent, depending on how close hotels are to it. the convention center. Those furthest away would be subject to the smallest tax increase. An analysis of the measure conducted before the COVID-19 pandemic slashed chambers’ tax revenues estimated it would generate an additional $ 6.8 billion over four decades, raising $ 4 billion to expand the convention center, $ 2.1 billion for the homeless and $ 700 million for street repairs.

It’s unclear how long it will take before San Diego can get a court ruling. The city attorney’s office said on Tuesday it planned to file its complaint shortly.

Representatives of the city’s business community, as well as union leaders, urged the council to act quickly in hopes the city can move forward with funding for urgent municipal needs.

“As a union that represents hospitality workers, we still have 5,000 workers who are not back on the job, and it has really become clear to me that leisure travel alone is not enough. get our people back to work, ”said Brigette Browning, who heads the local union of hotel workers. “Having a vibrant convention center that attracts very large groups and a large number of guests is very important to our people. “

Critics of the city’s decision on Tuesday told council its action went against what the electorate said in the vote last year – that approval of the hotel tax hike hinged on ” approval by a two-thirds majority.

Andrea Guerrero, executive director of Alliance San Diego, called the efforts of board members to now conclude that Measure C has prevailed as an example of voter manipulation.

“In elections, close enough is not good enough,” she said. “The question you are asked is not whether measure C is a good or a bad measure, but do you have the power to act beyond your ministerial duty to change the outcome of the election,” and you don’t. The voters decide the elections, not the city council.

Last year, the board set the stage for Tuesday’s action when it decided, following the election, to break with tradition and not call the vote on Measure C a defeat. Instead, he only indicated the number of yes and no votes for the initiative.

In the months following the 2020 vote, the coalition of business leaders, unions and homeless advocates who supported Measure C discussed behind the scenes a strategy to resurrect the initiative if business ongoing legal proceedings were to be concluded. Some outside the countryside thought donors should make the legal effort, while Gloria felt the city had a better chance of securing a favorable outcome if it took the lead.

“People who are content with a smaller convention center, more potholes and more homeless people, it’s up to them to defend their decision,” he said of the ‘opposition.

The continued enthusiasm for the expansion of the Bayfront Convention Center in San Diego comes at a time when the meeting and trade show industry has been at a standstill for more than a year because the pandemic has closed all major gatherings. . Gov. Gavin Newsom’s announcement Tuesday that the state will likely abandon its color-coded reopening system by June brightened the prospect of a gradual return to conventions, but it could be years before the industry meetings did not return to levels seen before the pandemic.

Steve Cowan, general manager of the Hilton San Diego Bayfront hotel, argued that in the short term, San Diego will continue to lose convention markets to cities with larger centers.

“The facility is aging, it needs to be renovated,” he said. “We are losing large citywide conventions that are getting too big for this facility and they are going to other venues in other states. My work depends on a strong tourism industry.

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SBP asks banks to only finance purchases of fresh wheat https://atlantigaz.com/sbp-asks-banks-to-only-finance-purchases-of-fresh-wheat/ Thu, 08 Apr 2021 02:38:07 +0000 https://atlantigaz.com/sbp-asks-banks-to-only-finance-purchases-of-fresh-wheat/

KARACHI: The central bank has advised banks to ensure that the private sector uses the financing strictly for the purpose of purchasing wheat from domestic and new crop sources.

In guidelines issued on the eve of the wheat harvest, the State Bank of Pakistan (SBP) stated that banks are required to strictly meet the minimum conditions for providing financing to eligible borrowers (licensed and functioning flour mills). duly attested by certain documents or licensed wheat traders registered with the relevant authority / department for private sector participation in the 2021 wheat supply campaign.

“Banks will provide financing to eligible borrowers only for the purchase of native wheat for the 2021 harvest season,” the SBP said in a final statement. “Special efforts will be made to ensure that facilities made available for purposes other than the supply of wheat are not used to finance wheat stocks. “

New funding for the purchase of wheat will begin as soon as the 2021 wheat purchase season begins in the respective provinces. Financing against wheat and wheat by-products viz. flour, meada and sujee will be subject to a minimum cash margin requirement of 10 percent of the value of the inventory of wheat and by-products. “Banks should not provide any funding facility (whether or not funded) to allow borrowers to meet margin requirements. “

Financing to the private sector for the purchase of wheat will be provided against pledging of fresh wheat stock only and the mortgage / charge of movable or immovable property will not be acceptable as collateral for such financing. In addition, banks will ensure that no revaluation of the pledged stock is considered for the release of any amount of differential financing to borrowers compared to the stock of wheat already pledged with banks.

Banks will not accept any request for new loans after June 30, 2021 for the purchase of wheat. However, banks may provide financing facilities to functioning flour mills for the purchase of native wheat from their authorized representative and the respective food service against the supply of wheat by them. The amount of this loan will not be greater than the value of the wheat to be supplied by the respective food department or the actual purchase from the wheat traders, depending on the grinding capacity of each mill. Banks will also monitor that the existing stock of wheat purchased by the relevant functional flour mill has been crushed and that the wheat by-products (financed by a bank loan) have also been gradually released to the market to repay the loans thus obtained.

Banks are also authorized to provide financing facilities for the purchase of wheat by seed processing factories duly attested by test certificates issued by the Federal Department of Seed Certification and Registration, in accordance with their policies. loan and capacity / production plans of seed processing plants ensuring that this stock of wheat will be used for processing

These loans will be fully settled by January 31, 2022. In order to limit the possibility of hoarding, banks will require the customer (s) to disclose and verify their storage location, and to strictly monitor the stock of wheat held by the customer empty periodic and random inspections of the wheat promised to the bank as well as the gradual release of the wheat stock to generate liquidity for the repayment of the bank loan. SBP can acquire stock reports from banks to verify their authenticity / authenticity as and when required. Banks are also urged to immediately recall advances to the private sector in the event of wheat hoarding, to ensure that no financing is authorized to the customer for the repayment of loans from other banks, and ensure that their customers strictly adhere to the respective government (Federal / Provincial) guidelines for the release of wheat stocks and do not participate in any other activity that may cause wheat / flour price speculation in the market. The loan will comply with applicable laws, prudential regulations and other SBP instructions issued from time to time. Banks will submit a monthly statement regarding financing to the private sector for purchasing wheat from that department within 10 working days of the end of the relevant month.

“Any violation of the above instructions will result in administrative and / or criminal prosecution,” the SBP said.

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Minneapolis woman’s ‘bizarre and surreal’ loan dispute lasts for decades https://atlantigaz.com/minneapolis-womans-bizarre-and-surreal-loan-dispute-lasts-for-decades/ Thu, 08 Apr 2021 02:37:47 +0000 https://atlantigaz.com/minneapolis-womans-bizarre-and-surreal-loan-dispute-lasts-for-decades/

Editor’s Note: Minnesota residents who attend college have some of the highest student debt in the countryside. This story is part of an occasional series about people whose lives have been damaged by their student loan debt. Share your story with MPR News on this link.

Kaja Robinson doesn’t forget the music on hold on her former collection agency’s phone line.

“Oh my God, this is awful,” said the 53-year-old. “I hear it all the time in my head. It’s a bit garish and weird like a sci-fi movie.

This is just one of the stress triggers Robinson developed during her decades-long dispute over loans she took as a student in the late 1980s.

She borrowed about $ 17,000 to attend the University of Minnesota and repaid $ 15,000 of the amount – according to a mine of documents, including check scans, it is kept in two large bankers boxes and shown to MPR News .

But according to the Education Department, Robinson still owes some $ 49,000. This is due to missing records of her payments and accrued interest, she said.

Following Minnesota nurse’s student loan debt creeps into every facet of life

Solving the confusion was a second fruitless job for Robinson. Another thing besides being the parent of his college-aged daughter, Kia, and working in health care administration.

On the days when she sets out to work on her loan debt, she said she has to mentally prepare for the task. Then she sits on the floor with all the relevant documents scattered around her, ready for eight hours on the phone and computer.

“Most of the time,” she said, “I try not to think about it because it’s so emotionally trying, stressful.”

She also tried legal action.

“I’ve worked with lawyers – two or three over the years – who have tried to work with the Department of Education,” Robinson said. “There is no recourse yet.”

Education officials told him to appeal the federal government to the courts. But he’s a non-starter for Robinson; the nearest court that would take such a case is in Chicago, two states.

Part of Robinson’s problem is the anonymous nature of lenders and debt collectors. His loans have been transferred from one business to another several times over the years. She will make headway and have someone to contact at a business, only to find the business in bankruptcy or its loan sold elsewhere the next time she calls.

“Knowing that the government thinks I owe them so much money and knowing that I don’t,” she said, “it’s weird and surreal… It looks like a big empty black hole and there’s just no way to get through. “

This isn’t the first time a business has lost track of student loans. In 2017, a student loan trust lost papers for at least $ 5 billion in student loans.

Robinson is exhausted from years of confusion and financial stress, although she has mainly paid off her loans and tried to resolve the situation by paying off the remaining debt in one go.

Pay “until my death” Rochester teacher sees no end to student loan bills

Instead, she hatched a plan through her collection agency and the Department of Education to make monthly “good faith” payments of $ 5.

It helped her credit score improve so she could get a mortgage and buy a home after years of trying.

But now Robinson has said his bank’s $ 5 withdrawals have stopped. She is, once again, considered to be in default on her student loan.

The federal government could take money out of its tax refund or paycheck. The future of its loans is uncertain.

Robinson doesn’t know what to do next. But she encourages her daughter not to take out any loans.

You make MPR News possible. Individual donations are the source of the clarity of our reporters’ coverage across the state, the stories that connect us, and the conversations that offer insight. Help ensure that MPR remains a resource that brings Minnesotans together.

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Championship transfer rumors: Seri loan deal, Jonas Lossl future, latest Scott Hogan https://atlantigaz.com/championship-transfer-rumors-seri-loan-deal-jonas-lossl-future-latest-scott-hogan/ Thu, 08 Apr 2021 02:37:23 +0000 https://atlantigaz.com/championship-transfer-rumors-seri-loan-deal-jonas-lossl-future-latest-scott-hogan/

Last Friday, the 2019/20 Championship campaign was abruptly halted with the announcement of the season’s temporary suspension due to the severity of the coronavirus outbreak.

After issuing a statement Thursday night, saying that business would go as usual last weekend in the Championship, the EFL changed its decision on Friday morning, canceling the weekend’s matches and postponing all matches until ‘at the first weekend of April at the earliest.

With issues on the pitch now set to be put aside for at least the next three weeks, transfer talks and speculation will likely be the main topic of conversation among supporters.

And with that in mind, here’s a recap of the very latest transfer rumors that meander through the Championship.

Turkish giants plan to enter negotiations with Seri

Turkish side Galatasaray plan to open talks with Fulham very soon over the possibility of signing central midfielder Jean Michael Seri on loan for a second season, according to a report by Fotospor.

The Ivorian midfielder has been on loan in Super Lig since the start of the season and made a very good impression during his time with the Turkish giants.

After a poor first half of the season, Galatasaray has turned the screw since Christmas, with Seri proving to be a key part of this recovery.

Although he made such a good impression, Galatasaray does not want a permanent transfer for the midfielder, once again preferring another loan deal for him.

“Unlikely” loss agreement

Any hope Huddersfield Town has of signing Everton goalkeeper on loan Jonas Lossl on a permanent basis this summer could be dashed, with club general manager Mark Devlin insisting it is “unlikely”.

After spending the 2017/18 and 2018/19 seasons in West Yorkshire, Lossl moved to Everton in July 2019 on a free transfer. However, he joined the Terriers on loan until the end of the season in January, a move that fans of the club liked very well.

But any hopes the fans might have had of re-signing the Danish keeper to a permanent contract have been dashed by the club’s general manager.

Talk to Yorkshire Live, Devlin said: “I think it’s unlikely. Jonas was eager to come back to Huddersfield Town because he really enjoyed his time here and has a good relationship with the fans.



Jonas Lossl in action for Huddersfield Town during their Premier League days. (Photo by Michael Regan / Getty Images)

“He came here because he wanted to play football and he wanted to make sure he did everything he could to be on the international team.”

Hogan faces uncertainty

Birmingham City’s hopes of permanently signing Aston Villa forward Scott Hogan this summer will depend solely on whether Villa will ensure the survival of the Premier League or not, report says The sun.

The forward, formerly of Rochdale and Brentford in the past, has been in great shape in the league lately since joining the Blues in January, scoring seven times in nine games.

This level of consistency has, unsurprisingly, led Birmingham to show great interest in landing him permanently this summer.

However, those hopes will all rest on Villa’s fortunes, as if they were relegated to the Championship they were planning to keep.

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Acceptance of Credit Announces Completion of $ 500.0 Million Asset-Backed Financing https://atlantigaz.com/acceptance-of-credit-announces-completion-of-500-0-million-asset-backed-financing/ Thu, 08 Apr 2021 02:36:52 +0000 https://atlantigaz.com/acceptance-of-credit-announces-completion-of-500-0-million-asset-backed-financing/

Southfield, Michigan, February 18, 2021 (GLOBE NEWSWIRE) – Credit Acceptance Corporation (Nasdaq: CACC) (the “Company”, “the Credit Acceptance”, “we”, “us” or “us”) today announced the completion of an asset-backed non-recourse secured financing of $ 500.0 million. dollars (the “Funding”). As part of this transaction, we made loans worth approximately $ 625.1 million to a wholly owned special purpose entity that will transfer the loans to a trust, which will issue three classes of notes:

Note Class

Rising

Average life

Price

Interest rate

A

$

354,820,000

2.68 years

99.99980

%

0.96

%

B

$

51,880,000

3.52 years

99.99766

%

1.26

%

VS

$

93,300,000

3.79 years

99.96949

%

1.64

%

Funding :

  • have an expected annualized cost of approximately 1.4%, including initial purchase charges and other costs;

  • run for 24 months after which it will be amortized according to the cash flows on the loans made; and

  • be used by us to pay off unpaid debt.

We will receive 4.0% of the underlying consumer loan cash flow to cover management fees. The remaining 96.0%, less amounts owed to brokers for brokerage holdback payments, will be used to pay principal and interest on the Notes as well as ongoing financing charges. The Funding is structured so as not to affect our contractual relationships with our dealers and to preserve the rights of dealers to future dealer holdback payments.

The Notes have not been and will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the Notes. This press release is issued in accordance with Rule 135c of the Securities Act of 1933.

Description of the credit acceptance company

Since 1972, Credit Acceptance has offered financing programs that allow automobile dealers to sell vehicles to consumers, regardless of their credit history. Our financing programs are offered through a nationwide network of automobile dealerships that benefit from the sale of vehicles to consumers who would otherwise not be able to obtain financing; repeat and referral sales generated by these same customers; and sales to customers who respond to advertisements for our financing programs, but who eventually qualify for traditional financing.

Without our financing programs, consumers are often unable to purchase vehicles or they purchase unreliable vehicles. Additionally, as we report to the three national credit bureaus, an important ancillary benefit of our programs is that we provide consumers with the opportunity to improve their lives by improving their credit rating and switching to sources of credit. more traditional financing. Credit acceptance is listed on the Nasdaq Stock Exchange under the symbol CACC. For more information visit creditacceptation.com.

CONTACT: Investor Relations: Douglas W. Busk Chief Treasury Officer (248) 353-2700 Ext. 4432 IR@creditacceptance.com

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Heavy rain gusts of up to 4 inches are likely, destructive gusts or a possible tornado later https://atlantigaz.com/heavy-rain-gusts-of-up-to-4-inches-are-likely-destructive-gusts-or-a-possible-tornado-later/ Wed, 07 Apr 2021 23:17:44 +0000 https://atlantigaz.com/heavy-rain-gusts-of-up-to-4-inches-are-likely-destructive-gusts-or-a-possible-tornado-later/

Two lots of heavy rain will move over Lower Michigan between this Friday afternoon and sunrise Saturday. The second rain wave could have a few severe segments producing irregular destructive winds or an isolated tornado.

Here’s a look at the big picture of the rain and thunderstorm batches targeting Michigan. These areas of rain will move to the southeast.

The second area has a main line of heavy thunderstorms followed by a large area of ​​moderate to heavy rain.

This second line appears to be moving faster than a late evening arrival for the extreme southeast of Lower. Here are the latest radar forecasts from a model that operates every hour.

radar

Radar forecasts from Friday noon to Saturday 3 a.m.

This model systematically wants to develop a third line of thunderstorms in the middle of the night. This will be difficult to do if rain and thunderstorms in Wisconsin at noon Friday pass through Michigan in the late afternoon and evening.

Regardless of the exact time, some areas will end up with a lot of rain. This morning, parts of the Detroit area have already received three inches of rain in just three hours.

Here is an additional total rainfall forecast for this afternoon through tonight.

total rain

Total additional rain forecast from Friday noon to Saturday August 29, 2020 at 4 a.m.

Do not look at the exact location of the heaviest or lightest rain. Just be aware that it is possible for areas under the strongest thunderstorms to receive up to an additional four inches of rain. I think one to two inches of rain is going to be quite common.

As the MLive.com Facebook page and allow notifications. If we need to switch to continuous severe weather coverage, we will do so on the Facebook page. Severe weather will most likely be from 6 p.m. to midnight tonight.

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RateSetter sells its loan portfolio to Metro Bank https://atlantigaz.com/ratesetter-sells-its-loan-portfolio-to-metro-bank/ Wed, 07 Apr 2021 23:17:42 +0000 https://atlantigaz.com/ratesetter-sells-its-loan-portfolio-to-metro-bank/

RateSetter, a leading UK-based peer-to-peer lender, announced on Tuesday that Metro Bank buys its loan portfolio online. RateSetter reported that Metro Bank was funding brand new consumer loans as a result of the RateSetter acquisition, which took place in September 2020.

Today’s announcement follows the subsequent sale of RateSetter’s residential real estate development portfolio, a line of loan that is not an area of ​​interest to Metro Bank, and was made possible by the recent sale. by Metro Bank of a £ 3 billion residential mortgage portfolio, which has freed up capital for the purchase. The performance of the consumer loan portfolio allowed the purchase to reach full value, despite continued economic uncertainty. “

RateSetter further revealed that the wallet purchase means that all RateSetter investors will receive their money in full and the investment portion of RateSetter will be closed. The lender will provide two months notice of account closure so it will happen on April 2. This process should take five days.

“Of course, no investment release fee will apply to money returned to the investor’s holding accounts as a result of the purchase. The money invested will continue to earn interest until then and refunds will continue to be processed according to the investor’s account settings until then as well. “

RateSetter then noted:

“We are proud to have generated an average annual return of 4.4%, while our pioneering credit management and provisioning fund have ensured that an investor never misses a dime of capital – a unique history that has been maintained throughout the current period of economic uncertainty and through to the purchase we are announcing today.

RateSetter added that in the future, it will focus on being a leading consumer lender in the market, in line with Metro Bank’s strategy to expand into consumer credit.

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Ball Introduces $ 304.6 Million Capital Improvement Program for FY22 https://atlantigaz.com/ball-introduces-304-6-million-capital-improvement-program-for-fy22/ Wed, 07 Apr 2021 23:17:41 +0000 https://atlantigaz.com/ball-introduces-304-6-million-capital-improvement-program-for-fy22/

HOWARD COUNTY, MD – Howard County Manager Calvin Ball presented County Council with a $ 304.6 million capital improvement program for fiscal 2022, with $ 72.5 million coming from general obligations.

The county has experienced a slowing rate of income growth and a steady increase in its debt burden in recent years. The county also faces continued uncertainty over the economic impact of the pandemic for the foreseeable future, Ball said. The proposed clearance of $ 72.5 million of GO bonds is the lowest amount in 19 years, $ 25 million below the decade average, Ball noted.

Of that total, $ 52.3 million or 72 percent goes to support educational institutions. The Spending Affordability Advisory Committee recommended reducing the newly authorized GO bonds to a maximum of $ 50 million. The proposed CIP budget reflects a historically low level of GO bonds in FY2022, reducing the average projected GO over the next six years to around $ 70 million to align more closely with affordability.

“Despite the fiscal challenges we face, the proposed budget supports the strategic priorities of the community,” Ball said in a statement. “These include investing in the construction of new and expanded school buildings, the Ellicott City flood mitigation plan, facilities for our elderly residents, transportation and infrastructure, and a project plan. Realistic multi-year fixed assets. This budget takes a pragmatic approach while ensuring that Howard County remains the best place to live, learn, work, play and grow. “

Education remains the top budget priority, Ball said. The proposed fiscal year 2022 capital budget for the Howard County public school system is $ 79.7 million, including $ 52 million in county funding and verified state aid from $ 27.7 million to date. While advocacy efforts to secure additional state aid are underway, the proposed budget fully funds the county’s requested share for the education council’s three main priorities, which include the new High School No.13, the replacement of Talbott Springs Elementary School and renovation / addition of Hammond High School. .

The proposed budget also includes funding for the expansion of the East Columbia 50+ Center, a long-awaited project that can be completed by fiscal 2023. In addition, the capital budget advances the remediation project and Harriet Tubman restoration, including construction of the new Harriet Tubman Cultural Center.

Other initiatives supported include Ellicott City’s Safe and Sound Plan with major flood mitigation efforts in Ellicott City and Valley Mede, construction of the Maryland Avenue Culvert expansion and design and the final construction of the extended north tunnel in fiscal year 2022.

This year’s proposed budget of $ 89.8 million includes a federal loan in addition to funding from state and local sources. The $ 75 million federal Water Infrastructure Finance and Innovation Act loan will allow the county to move quickly on construction of the Maryland Avenue Culvert extension, Ball said, as well as the final design and construction of the tunnel. north extended in fiscal year 2022 at a lower annual rate. interest payment than traditional GO financing.

In addition, flood mitigation facilities on the New Cut branch (NC-3) and the Hudson branch (H-4) will move to the design phase, with the H-4 project removing 34 units from the development pipeline while providing 11 acres for upstream flood mitigation. The proposed budget includes funds for sidewalk and streetscape upgrades and building renovations on Lower Main Street.

The capital budget also invests in existing infrastructure, increasing spending on road resurfacing to deal with a growing backlog of aging infrastructure in the county and avoid more costly repairs / reconstructions in the future. The proposed budget includes PAYGO funding of $ 10 million for road resurfacing needs, the highest investment since fiscal 2015 in response to a growing backlog that reached $ 61.4 million in 2020 due to aging infrastructure across the county. The budget proposed by Ball also addresses various other needs in transportation, infrastructure, watersheds, recreation and parks, and public safety projects.

Highlights of the CIP budget for fiscal year 2022 include:

Education

  • $ 27.7 million in county funding for No.13 High School.
  • $ 15.1 million in county funding for the renovation and addition of Hammond High School to increase capacity.
  • $ 9.1 million in county funding for systemic renovations and roofing projects.
  • $ 3.2 million for other school capital needs, such as technology and portable classrooms.
  • $ 15.8 million, in local matching, for the new math and athletics complex at Howard Community College.
  • $ 500,000 for the planning of the new library branch in downtown Columbia.
  • The pre-allocation for the replacement of Talbott Springs Elementary School met all local funding needs for this project.

Community services

  • $ 5.5 million in county funding and $ 1 million in state funding for the design and construction of the East Columbia 50+ Center.
  • $ 1.3 million in county funding and $ 750,000 in state assistance to build the Harriet Tubman Cultural Center.

Ellicott City safe and sound

  • $ 6 million in county funding, combined with $ 8.9 million state grants and a $ 75 million WIFIA loan to support the Maryland Avenue Culvert expansion, the North Tunnel extension and flood mitigation installations on the New Cut and Hudson branches.

Transport and infrastructure

  • $ 10 million in PAYGO funds for road resurfacing
  • $ 3.8 million in systemic improvements to county facilities
  • $ 5 million in county and pedestrian and bicycle improvement grant

Public security

  • $ 1.7 million for the construction of a new North Columbia fire station.
  • $ 1.1 million for public safety improvements, including the new computer-aided dispatch system.
  • $ 1.6 million to help improve the safety of the existing range.
  • $ 2 million to renovate the detention center, including upgrading the sprinkler and fire alarm systems.

Business and economic development

  • Prior ownership of the county, with state funding and private investment, will enable the final phase of renovating and equipping the Maryland Innovation Center.

Leisure and parks

  • $ 8.3 million, primarily in designated resources, for infrastructure renovations at existing facilities and park improvement projects.
  • $ 1.3 million in open space funding from a state program to support the completion of the No. 1 field improvements in Troy Park and the replacement of aging park infrastructure at multiple sites.

Howard County Council to Hold Virtual Public Hearing on CIP Budget April 20 at 6:30 p.m.

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