Burr Forman

AUGUST 31, 2021

Mike Rich joins Burr & Forman’s Mobile, Alabama office as Counsel in the firm’s Construction and Project Development practice group. Her practice will focus on representation of lenders in various financing transactions, including commercial real estate loans. Jon may be reached at (843) 785-2171 or jeggert@burr.com.

Construction 40

Construction Government Manufacturing Education 40

Hudson Weir

SEPTEMBER 11, 2023

Secured loans or unsecured loans are crucial for many businesses, providing the investment they need to achieve their objectives and grow. In total, banks provided £65.1bn in loans to small companies with more likely to have gone to larger businesses too! But what’s the difference between secured loans and unsecured ones?

Loans 52

Loans Collateral Secured Creditor Unsecured Creditor 52

Jimerson Firm

JANUARY 25, 2021

When underwriting and servicing SBA loans, it is important for lenders and CDCs to ensure appropriate insurance coverages are in place to protect the collateral. The SBA does require some types of insurance coverages to be in place on all loans. Hazard Insurance. 13 CFR § 120.160 ; SOP 50 10 5(K). SOP 50 57 2 ; SOP 50 55.

Loans 98

Loans Collateral Lender Construction 98

Troutman Sanders

APRIL 24, 2023

Earlier this month, a district court for the Eastern District of Michigan dismissed on its own initiative a Fair Credit Reporting Act (FCRA) claim brought by a consumer alleging inaccurate reporting of her charged-off vehicle loan. The court’s opinion in Shelton v. Americredit Financial Services, Inc. Hence, no inaccuracy.

Loans 52

Loans Repossession Secured Creditor Construction 52

Troutman Sanders

MAY 4, 2022

The proposals would confirm, among other things, that EWA programs are not loans. The proposals would also amend the Code to expressly clarify that on-demand pay arrangements are not loans. The proposals would also clarify the applicable payroll period for EWA wages, as well as certain tax withholding and depositing obligations.

Loans 52

Loans Construction Banks 52

UK debt collections

JUNE 26, 2023

Insolvencies in the UK were low during the pandemic because of an £80 billion business loan programme and a temporary bar on court-ordered liquidations. Construction and retail are the hardest hit sectors PwC said construction and retail were the hardest-hit sectors, and the number of food manufacturers in trouble was also increasing.

Construction 59

Construction Retail Manufacturing Trade 59

PBWT

AUGUST 16, 2022

In an adversary proceeding, the collective owners of the Makaha Valley Country Club , golf courses, surrounding undeveloped land, and other related assets (the “Owners”) avoided obligations undertaken in connection with a loan extension provided by Tianjin Dinghui Hongjun Equity Investment Partnership (the “Lenders”).

Debtor 65

Debtor Construction Collateral Lender 65

Troutman Sanders

SEPTEMBER 12, 2022

The decision vacates a 2021 Southern District of New York ruling, which held that the lenders were not on constructive notice of the mistake and could rely on the discharge-for-value doctrine to retain the funds. billion loan to Revlon, Inc., Citibank administered a $1.8 funded by a group of lenders.

Lender 52

Lender Construction Loans Debtor 52

Burr Forman

APRIL 1, 2021

Matt is recognized in the area of construction while Erik is recognized for his tax articles. Additionally, Erik’s article SBA Issues New PPP Loan Guidance for Self-Employed Individuals and Others is recognized as one of the top read articles for Finance & Banking. Erik Doerring is a Partner in the firm’s Columbia office.

Construction 76

Construction Manufacturing Banks Loans 76

Direct Recovery

APRIL 24, 2023

The pandemic pause has given many American struggling with student loan debt a reprieve. Still, with those breaks set to expire in August, things could get difficult once regular student loan payments resume. One of the most common solutions presented by political leaders has been some form of student loan forgiveness.

Student loans 52

Student loans Student Loans Loans Education 52

Nerd Wallet

MARCH 21, 2022

Swelling demand for construction projects collided with material and labor shortages, creating a home improvement traffic jam that has lasted into 2022. The pandemic wreaked a specific kind of havoc on home remodeling.

Construction 98

Construction Personal loans Loans 98

Qualco

SEPTEMBER 12, 2023

As a result, loan borrowers with floating rates, also referred to as adjustable or variable rates, face higher monthly payments due to increased interest expenses. These exposures involve borrowers who have extended their loan terms and are now at risk of facing difficulties meeting their obligations.

Collateral 102

Collateral Collections Financial Institution Loans 102

Burr Forman

OCTOBER 20, 2021

An article titled “Avoiding Fraudulent Transfer Claims from Loan Workouts” written by Partner Hanna Lahr and Associate James Roberts was published in the Risk and Compliance section of the ABA Banking Journal.

Banks 52

Banks Construction Debtor Creditors 52

ABI

JANUARY 19, 2024

In evaluating the Texas Business & Commerce Code and title 11 of the United States Code (the “Bankruptcy Code”), the United States Bankruptcy Court for the Southern District of Texas, in In Re Burts Construction, Inc., In 2017, Allegiance Bank loaned Burts Construction, Inc. the “Debtor”) $1.5

Secured Creditor 40

Secured Creditor Bankruptcy Debtor Collateral 40

Nerd Wallet

MARCH 28, 2022

Electricians typically work in various locations such as homes, businesses, factories and construction sites to install, maintain and repair electrical power, communications, lighting and control systems. Electricians need a high school diploma before entering into a paid apprenticeship program that typically lasts four or five years.

Construction 63

Construction Student loans Student Loans Loans 63

Credit Corp

SEPTEMBER 30, 2020

And that doesn’t even include the number of people who purchased new construction. When someone takes out a mortgage loan, they’ll put down a percentage of the home’s price. Here are some different loan options: 1. These loans do not have down payment requirements. A down payment on these loans may be as low as 3.5%.

Lender 105

Lender Loans Government Construction 105

UK debt collections

MAY 4, 2022

The company says that the 19% year-on-year increase has been significantly boosted by a 51% jump in insolvencies for the construction sector and a 42% rise in the hospitality sector such restaurants. We could see an approach similar to war bonds, with terms being extended as ministers follow the adage that a rolling loan gathers no loss.”.

Government 82

Government Construction Loans Creditors 82

Collection Industry News

DECEMBER 13, 2023

The increased use of buy now, pay later loans from providers like Klarna, Affirm (AFRM.O), PayPal (PYPL.O) Consumer advocates warn that the loans could nudge some shoppers to splurge on jewelry, trendy clothing, video game consoles or appliances they otherwise could not afford.

Retail 40

Retail Loans Credit Card Debt Construction 40

ABI

JANUARY 22, 2023

million construction loan from Evertrust Bank (“Evertrust”) to build a hotel. [v] v] Because Evertrust refused to fund $4 million on the loan, The Source Hotel halted construction. [vi] [iv] The Source Hotel, LLC ( “The Source Hotel”) obtained a $29.4

Bankruptcy 40

Bankruptcy Debtor Construction Foreclosure 40

Hudson Weir

FEBRUARY 28, 2023

This company property can be anything from equipment and constructions to apparatus, vehicles, and intellectual property. It also includes managers or staff who’ve loaned the firm money non-officially (known as associate creditors) or when wages and earnings for business directors and owners aren’t paid.

Unsecured Creditor 52

Unsecured Creditor Secured Creditor Creditors Construction 52

UK debt collections

JULY 18, 2022

Mazars adds that if UK businesses hadn’t shifted so much of their borrowing to fixed rate loans, the financial impact on business as a whole would have been even greater. With interest rates rising for the fifth consecutive time in June, the economic outlook for business is bleak.

Construction 72

Construction Government Loans 72

Hudson Weir

NOVEMBER 8, 2023

Examples of contingent liabilities A contingent liability may occur in the form of a legal or constructive obligation. A constructive obligation arises from past events and any actions of a company that reasonably suggest it will accept certain responsibilities. A legal obligation is one that a company is legally obliged to perform.

Construction 52

Construction Creditors Loans 52

UK debt collections

AUGUST 16, 2022

Adding further pressure to many companies is the repayment of the Government-backed Covid support loans granted to help them survive the pandemic. Sectors with the highest number of critically distressed businesses: Construction. Support Services. Real Estate. General Retailers. Automotive. Manufacturing. Bars & Restaurants.

Manufacturing 96

Manufacturing Retail Government Construction 96

Credit Corp

JULY 8, 2020

Find a Home Loan That's Right for You. Find Your Loan Today. Realtor.com provides listings that include existing homes for sale as well as new construction, and you can take advantage of articles and checklists that provide education for buying a home. Find great rates from a variety of lenders. Privacy Policy. Homefinder.com.

Construction 95

Construction Loans Education Lender 95

Fico Collections

NOVEMBER 9, 2020

Working with our credit bureau partners, FICO examined a timely indicator of borrower response to the current economic stress — the presence of a loan accommodation— that is available in credit bureau data. Our goal was to learn, are more resilient consumers less likely to request loan forbearance or payment accommodations?

Lender 52

Lender Credit Bureau Loans Construction 52

Nexa Collect

APRIL 11, 2021

Even industries that were doing well, such as commercial construction, transportation, biopharmaceutical research and development, found themselves forced to completely overhaul their operations at an unprecedented cost. The reports of the US Bureau of Labor Statistics provide a discouraging image of the levels of employment in 2020.

Collections 130

Collections Collection Agencies Collections Agency Construction 130

Troutman Sanders

AUGUST 7, 2023

Small Business Administration (SBA) began implementing additional policies aimed at expanding small business access to capital by modernizing SBA’s signature 7(a) and 504 loan programs. Banks reported that lending standards are currently on the tighter end of the range for all loan categories. For more information, click here.

Financial services 52

Financial services Financial Institution Manufacturing Loans 52

Troutman Sanders

AUGUST 28, 2023

Notably, the RBA and DFCRC did not construct this project as a CBDC pilot. Department of Education (DOE), used deceptive loan forgiveness promises, and falsely claimed they were offering relief under the “Biden Loan Forgiveness” plan to lure students and collect millions in illegal upfront fees. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Loans 52

UK debt collections

NOVEMBER 4, 2022

The three industries that experienced the highest number of insolvencies in the 12 months ending Q3 2022 were: Construction (3,949, 19% of cases where industry-type was available); Wholesale and retail trade; repair of motor vehicles and motorcycles (2,910, 14%); Accommodation and food service activities (2,478, 12%). Industry view.

Creditors 52

Creditors Government Construction Loans 52

Troutman Sanders

AUGUST 21, 2023

On August 16, the Small Business Administration (SBA) announced the availability of low-interest disaster loans to businesses and residents across the nation, including Mississippi, Illinois, New Jersey, and Oklahoma. However, the FTC may also be interested in the use of AI in customer service and interactions.

Financial services 52

Financial services Banks Loans Financial Institution 52

Fraser

AUGUST 26, 2022

——— Michigan to Deploy $72M in Federally Funded Small Business Loans and Investments. $72 is being deployed for loans to small businesses through Michigan Economic Development Corporation capital and lending programs. While the bill sits on the House floor, the road construction industry is getting behind the bill.

Startups 40

Startups Construction Loans Government 40

UK debt collections

APRIL 26, 2021

cash in the four months to the end of June and had last month taken a loan from the football league to help pay the club’s wage bill. In March, the payroll bill was met in part by a loan from the football league, Ms Thornley said. The comments came as desperate attempts to save Swindon Town Football Club entered a new chapter.

Trade 59

Trade Construction Loans Government 59

Troutman Sanders

DECEMBER 4, 2023

On December 1, the House of Representatives approved a resolution to repeal a Consumer Financial Protection Bureau (CFPB) rule that mandated banks to gather data on loan applications from women-owned, minority-owned, and small businesses to help lenders identify business development needs and opportunities. For more information, click here.

Financial services 52

Financial services Collateral Banks Trade 52

Taurus Collect

MARCH 5, 2024

Seek Professional Advice: Financial advisors or credit counseling services can offer strategies and negotiations skills to handle debt collections constructively and legally. Structuring a payment plan can prevent further actions and lessen financial strain.

Debt collector 52

Debt collector Asset liquidation Debtor Education 52

ABI

JANUARY 13, 2021

i] Section 1102 of the CARES Act allows parties to apply for loans under the Paycheck Protection Program (“PPP”), which may be forgiven under certain circumstances. [ii] xxix] While debtors may apply for PPP loans under the CARES Act, the ultimate determination of whether or not they are eligible to receive the loans rests with the SBA.

Debtor 40

Debtor Bankruptcy Loans Construction 40

True Accord

AUGUST 25, 2020

Banks are accelerating their adoption of new digital debt collection tools in anticipation of a “tidal wave of consumer debt issues” when government stimulus programs end and financial institutions stop offering forbearance and loan deferral options. Challenge #3: Building a truly comprehensive and flexible self-serve portal.

Collections 91

Collections Financial Institution Banks Construction 91

Fraser

JULY 21, 2020

In the areas of banking, commercial, construction and real estate litigation, he represents lenders, contractors and owners on construction-related claims, and lenders and borrowers in commercial and residential foreclosure matters, large loan defaults and collections, lien priority disputes, and title insurance company liability.

Creditors 56

Creditors Bankruptcy Debtor Construction 56