Benefits Of A Commercial Business Loan?

There are many benefits in choosing a commercial business loan some of which are listed below.

A commercial business loan is designed for a wide range of UK small, medium and startup business needs including the purchase, refinance, expansion of a business, development loans or any type of commercial investment.

Finance is the lifeblood of a business. Without it you cannot grow.

Commercial business loans are generally available from £50,000 to £50,000,000 at highly competitive interest rates from leading commercial loan lenders.

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ANGOLA: Oil-backed loan will finance recovery projects

Walk down any street in the Angolan capital, Luanda, and the signs of a US $2 billion cash injection from China are evident.

From workmen in hard hats bustling around construction sites to suited businessmen in hotel lobbies, the growing presence of the Asian tiger is impossible to miss.

The oil-backed credit line, agreed with Eximbank of China in March 2004, is being released on a project-by-project basis to rebuild Angola's war-devastated infrastructure.

"This is the year when China's activity in Angola will really speed up," finance ministry spokesman Bastos de Almeida told IRIN.

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Karnataka gets WB loan for water sector

The Karnataka Urban Water Sector Improvement Project has received a $39.5 million loan (Rs 175 crore) from the World Bank. This loan will support state government efforts to enhance the efficiency, management and delivery of water supply and sanitation for urban residents.

The project will benefit about two lakh residents in the cities of Gulbarga, Belgaum and Hubli-Dharwad. The project has two main components, technical assistance to support the state government's sector reform agenda and to prepare follow-on investment projects.

This loan will also aid investment in the three urban local bodies to improve bulk water supplies and demonstrate the feasibility of continuous and safe water supply in pilot areas.

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Malaysia MARC Affirms Mithril Loan Stk Rtg

Following is a press release from Malaysian Rating Corp.

MARC has affirmed the rating for Mithril Berhad's (Mithril) RM59 million Redeemable Convertible Secured Loan Stocks (RCSLS) at BBB, reflecting the recent completion of the corporate exercise with the injection of new businesses and a tight underlying issue structure.

The rating is, however, constrained by Mithril's exposure to the manufacturing industry, in particular the brick manufacturing business.

Mithril was incorporated as a shell company in April 2002 to facilitate the proposed restructuring exercise of Tajo, which is an affected listed issuer pursuant to the KLSE's Practice Note 4/2001 (PN4/2001).

The restructuring exercise involved capital reconstruction and cancellation of share premium account of Tajo; scheme of arrangement; fund raising exercise (including the issuance of the RCSLS); acquisition of Saferay (M) Sdn Bhd (Saferay) & Menara MAA in Kota Kinabalu and Kuching; and debt settlement of Tajos secured and unsecured creditors.

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Deals from low-income loan providers to be investigated

The marketing practices of companies that target low-income consumers are to be examined by the financial regulator as it clamps down on misleading advertising.

The Financial Services Authority is to look at promotions from sub-prime lenders, which sell to consumers rejected by mainstream banks and debt consolidation companies.

Debt consolidation companies encourage low-income consumers with several loans to consolidate their debts into one larger loan.

The FSA is also looking at equity release companies and mortgage lenders to check their advertisements are not misleading.

Last year, the regulator set up a 30-strong team to monitor adverts amid concerns consumers were being mis-sold products.

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Lawmakers look to regulate payday lenders

Promising fast, easy cash without a credit check, payday loan stores have popped up on many street corners and strip malls in Oregon - so many that, at 323, they outnumber any single fast food chain in Oregon.

But some lawmakers think that Oregon should join the 35 other states that regulate payday lenders, and have introduced a bill to help protect consumers from falling too far into payday loan debt.

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Small business loan demand climbs

The Micro Investment Development Agency (MIDA) has reported that a total of $147.6 million in loans has been disbursed by the agency during the 2004 calendar year.
But this figure represents a decline of $67.4 million for the corresponding 2003 period.

Managing director of MIDA Vivian Chin said in an interview with Sunday Finance that since 1977/78, the organisation has depended on loan repayments to remain a viable lender.

The standard repayment period for loans is 18 months which, he suggested, was too short a period for proper loan servicing, resulting in a poor turnover. MIDA operates as a revolving fund, meaning that if repayments are lagging, the loans the fund can make are curtailed.

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Hats off: Narain helps out with helmet loan

To the cut-throat world of Formula One Narain Karthikeyan brings his own eastern sensibilities. As he did on Friday, winning the praise of his fellow drivers for his civility, if not his speed.

The day's last session of testing in Barcelona saw Team Jordan unexpectedly give Dutchman Nikki Pastorelli a go. The rationale was simple, get a third driver in the frame for the season.

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Foster's Picks Citigroup, Others for Loan to Back Southcorp Bid

Foster's Group Ltd., Australia's biggest liquor company, got Citigroup Inc., JPMorgan Chase & Co. and four other banks to provide a A$2.7 billion ($2.1 billion) loan to help fund its hostile bid for competitor Southcorp Ltd.

Citigroup, Commonwealth Bank of Australia, JPMorgan and Westpac Banking Corp. joined the Melbourne-based company's advisers Goldman Sachs JBWere and Credit Suisse First Boston Inc. to provide the nine-month loan, bankers involved in the deal said. Foster's is trying to buy Southcorp for A$3.1 billion.

Southcorp, Australia's second-biggest winemaker, last week told shareholders to reject Foster's bid because it doesn't reflect the Sydney-based company's improved profit outlook. Buying the maker of Lindeman's wines will make Foster's the world's biggest maker of wine selling for more than $3 a bottle.

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Loan provisioning costs NBR dear

The National Board of Revenue (NBR) suffered a revenue loss of Tk 4.03 billion in 2004 from the country's banking sector due to provisioning requirement against classified loans, official sources said.
"The annual profits of banks suffer because of the provisioning requirement against non-performing loans. This, in turn, affects the earning of the NBR" a Board high official told FE Saturday.
Sources at the Bangladesh Bank (BB) said the net classified loans of country's 49 public, private and specialised banks were at Tk 94.95 billion until December 31, 2004, which accounts for 9.79 per cent of the total outstanding loans.

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IDB to Loan Surinam $23M for Radar, Port

The Saudi Arabia-based Islamic Development Bank will loan Suriname US$23.5 million to pay for a new airport radar system and renovate a seaport, the government said Friday.

About US$10 million of the funds will be used for a radar navigation system that will improve air traffic safety at Suriname's international airport, Transportation Minister Guno Castelen said.

The rest of the funds will go toward upgrading facilities and boosting cargo-handling capacity at a seaport in the district of Nickerie, 250 kilometers (156 miles) west of Paramaribo, the capital.

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Cebu City needs P150M today for SRP loan

Cebu City Hall will be spending over P1 million a day to pay for the interest alone of its loan for the South Reclamation Project (SRP), said SRP manager Nigel Paul Villarete.

On Sunday, the City Government is expected to pay 288,389,482 million yen or P150.28 million, a portion of the interest, to the Land Bank of the Philippines (LBP), conduit for the Japan Bank for International Cooperation (JBIC).

City Hall accounting records show the SRP loan has ballooned from the original P2.2 billion in 1996 to P4.33 billion this year.

By September this year, the City will need over P300 million to start paying for the principal amount and loan interests, said Villarete.

Since there are no investors at the SRP yet, payments for the loan and interest will be taken from the City's general funds, which come from its revenues and taxes collected the previous year.

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E-Loan Wants to Drive Volumev

On a tough day for the markets, E-Loan (Nasdaq: EELN) was able to post a strong gain of 14.09% to $3.32 per share. And the company reported the best kind of news for investors; that is, E-Loan had better-than-expected earnings results.

In the fourth quarter, E-Loan generated revenues of $36.2 million, which was up 36% from the same period in 2003. The company had net income of $1 million or $0.02 per share, which was up from $200,000 in the same period in 2003.

For 2004, E-Loan had revenues of $135 million (which was down 11% from 2003). Net income was $805,000, which was down significantly from the $23 million net profit in 2003.

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Come home with US MBA, forget loan

How does returning home with an MBA from Stanford, Wharton or Harvard without the crushing burden of repaying a $100,000 loan seem? Impossible?
Well, a new scheme being devised by a number of America's toniest business schools aims to do just that: a loan forgiveness programme specifically for students from emerging countries who want to return home and work, usually at pay scales much lower than the MBA average at such schools.

"The idea is of encouraging and being open to people going back to their country of origin and (they) being able to afford that choice," Daniel N Rudolph, senior associate dean of Stanford Graduate School of Business (GSB) told ET recently.

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Ohio St. assistant reprimanded

An assistant football coach was reprimanded by Ohio State for trying to arrange for a car and a loan for a recruit and getting him a tutor, The Columbus Dispatch reported Thursday.

Ohio State placed a letter of reprimand in offensive coordinator's Jim Bollman's personnel file and also wrote a letter of admonishment for head coach Jim Tressel, because Tressel is Bollman's supervisor.

The school determined that helping the recruit get a tutor for a college entrance exam was a secondary NCAA violation. Ohio State reported it to the NCAA, which declined to investigate, athletic director Andy Geiger told the Dispatch.

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E-Loan climbs; profit up sharply as revenue jumps

Shares of E-Loan Inc. jumped Thursday, after the online lender said fourth-quarter net income soared on a 36 percent increase in revenue.

Stock of the Pleasanton-based company rose 41 cents, or 14 percent, to close at $3.32 on the Nasdaq Stock Market. Thursday's strongest level of $3.47 didn't surpass the 52-week high of $4.12 set Dec. 15. There was a 52-week low of $1.94 on Aug. 2.

E-Loan said its net income rose to $1.03 million, or 2 cents a share, from $190,000, or breakeven per share, in the previous year.

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Washington Mutual, Magic Johnson team up to open home loan centers

Washington Mutual has teamed up with Earvin "Magic" Johnson's Johnson Development Corp. to open three new home loan centers and a loan processing center in the Bay Area, the first opening in San Francisco's Mission district on Wednesday.

Two more centers will open in Oakland's Chinatown and Rockridge district Feb. 17.

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Fitch Upgrades 1 Class of ACAS Business Loan Trust 2002-1

Fitch Ratings upgrades one class of notes issued by ACAS Business Loan Trust 2002-1 (ACAS 2002-1). The following rating actions are effective immediately:

-- $2,274,931 class B notes upgraded to 'AAA' from 'AA-'.

ACAS Business Loan Trust 2002-1 is a collateral loan obligation (CLO) that closed on March 15, 2002. The servicer is American Capital Strategies (Nasdaq:ACAS), based in Bethesda, Maryland. The rated liabilities are supported by the cash flows of a static portfolio of high yield loans to middle market U.S. businesses, a majority of which are privately owned. The loans were made for the purpose of working capital, growth, acquisitions, and recapitalizations. The loan obligors operate in several industries, including industrial and consumer manufacturing, retail, and services. A majority of the loans are subordinate loans, with the remaining balance divided between senior unsecured and senior secured obligations.

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UGS Engages With Banks to Amend Term Loan Facility; Proceeds Along With Cash on Hand will Complete the Purchase of Outstanding Tecnomatix Shares

UGS, a leading global provider of product lifecycle management (PLM) software and services, today announced that in conjunction with the Tecnomatix acquisition, announced Jan. 4, 2005, it has engaged with its banks to amend and restate the company's existing US$625 million Revolving and Term Loan Facilities to provide for an additional US$225 million Term Loan Borrowings. Proceeds from the Term Loan along with cash on hand will be used to purchase all outstanding shares of Tecnomatix.

The acquisition represents another strategic milestone for UGS as it
continues to expand its suite of software solutions in order to provide value
across a product's entire lifecycle.
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Rosneft Sticking to Loan Plan: Report

Subsidiaries of Rosneft will go ahead with shareholders' meetings to approve a borrowing scheme to lend the parent company about $5.5 billion, Interfax reported Tuesday, citing an unidentified person on Rosneft's board.

The announcement flies in the face of a report that a senior Kremlin official had ordered Rosneft president Sergei Bogdanchikov to cancel shareholders' meetings intended to approve a complex scheme involving promissory notes, or veksels, from an unknown company.

"The shareholders' meetings of Rosneft units will take place on Feb. 28 and look at the question of lending to Rosneft and the sale of veksels," the board member said, Interfax reported. "There is no reason to change or cancel these meetings."

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Minacs restructures debt through $75 million in new credit, loan facilities

Minacs Worldwide Inc. has finalized a corporate refinancing of its debt structure through $75 million in new revolving credit and term-loan facilities, the Toronto company said Tuesday.

Minacs (TSX:MXW), which operates call centres and supplies other business outsourcing services, said the debt restructuring allows the company to expand and fund general working capital requirements.

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Oman's first joint venture tourism project gets $105 million loan

The Barr al Jissah Resort Company and a consortium of lead arrangers of syndicated loan for the prestigious resort project on Monday signed a project finance agreement for $105 million loan. The two lead arrangers - Gulf International Bank and HSBC - have arranged the loan along with three other banks - Bahrain-based Arab Bank, BankMuscat and Bank Dhofar. Barr al Jissah Resort Oman

Of the total capital expenditure of RO 70 million, RO 25 million is raised by way of equity capital, RO 40 million commercial loan and RO 5 million soft loan. Of the equity capital, RO 15 million (60 per cent) is held by the Zubair Corporation, while the Omani government has RO 10 million (40 per cent) stake in the resort project, said Ziyad M al Zubair, who represents the Zubair Corporation in the resort company.

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Home loan rates to drop, if EPF enters mortgage mart

In what could bring down home loan rates, the Employees Provident Fund board is toying with the idea of investing in mortgage-backed securities as part of its multi-pronged strategy to raise returns on its assets.

"MBS could turn out to be a viable proposition to invest in, but many measures are needed in developing the market," informed sources told PTI, adding National Housing Bank was in touch with EPFO on this matter.

EPFO is viewing investment in MBS as a more favourable route as risks are much lower than investing in equities, which promise highest return but are fraught with high risks.

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Home loan rates to rise

Home borrowers face higher interest rates for fixed-rate mortgages as financial markets react to the likelihood of a rise in official rates within weeks.

Eight lenders have lifted three-year fixed rates in the past week, including Citibank and HSBC, consumer information firm Infochoice.com.au says. The increases ranged from 0.1 per cent to 0.3 per cent. The average three-year fixed interest rate on offer from lenders has risen from 6.66 per cent in mid-December to 6.7 per cent.

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Loan with 90% rate for resort, court told

The site was cleared for the $46 million development, the plans were drawn up and approved, the builder was about to start work.

But Malcolm Edwards had just one little problem - he didn't have the money.

The Supreme Court heard yesterday how the veteran entrepreneur desperately tried to raise a loan for the project that could prove his last hurrah - a resort on the banks of the Murray River at Mulwala, near Yarrawonga.

It is more than five years since the project collapsed in a mire of debt and angry recriminations, but corporate watchdog ASIC believes Edwards was trading while he knew the project was insolvent - a breach of the Corporations Law - and is seeking an order to ban him from running any more companies.

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Weekly home loan report - More interest rate rises coming

Westpac has put up its three, four and five year rates 5 basis points and they all now sit on 7.80 per cent. Also it increased its two and three year capped rates by the same amount, to 8.10 per cent and 8.15 per cent respectively.

Kiwibank has put up its two and five year rates 10 basis points each, and its three-year rate 5 points. All three are now on 7.60 per cent the same as its four-year rate.

One of the biggest economic factors during the week, which will impact on home loan rates, was the strong employment numbers.

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Bill would double ceiling on payday loans

Kentucky lawmakers may raise the ceiling on payday loans, which people sometimes take out in desperation to make ends meet.

A larger bill that includes a small, but controversial provision to raise the maximum deferred deposit transaction from $500 to $1,000 moved through the House Banking and Insurance Committee, although legislators attached two amendments Thursday that would remove the payday loan proposal.

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Bank's CEO helps make SBA loans a strong suit

Steve Stitle is like the Energizer bunny. He's retired but keeps on working.

In 1995, he left Eli Lilly and Co. as a vice president after 24 years of service. He then joined National City Bank of Indiana as chairman of the board, president and chief executive officer.

"My interest was not necessarily banking versus other business categories," he said. "My interest was business."

National City not only leads the city in providing Small Business Administration loans to entrepreneurs, it also has led the state as the No. 1 SBA lender for five consecutive years. Stitle understands the requirements of businesses and that the businesses are just as important to the bank as he is to them.

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Federal investigators eyeing Shreveport loan program

Federal investigators are looking into potential conflicts of interest in appointments made by Shreveport Mayor Keith Hightower and links they might have to a city lending program that has produced thousands of dollars in delinquent loans.

Four city board appointees and a city employee are connected to proceeds from city-approved loans, The Times of Shreveport reported Sunday.

Federal prosecutors are probing loans that may have benefited Hightower friend Scott Pernici, James Pannell, chief of the Shreveport's NAACP branch, and Rod Caston, a mayor-appointed member of the city zoning appeals board, The Times said.

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Loan applications a must for storm aid

Homeowners, renters and businesses have until Feb. 28 to submit disaster loan applications for damages from last summer's hurricanes.

Less than 30 percent of applications distributed for Small Business Administration loans have been returned.

"If people fail to fill out SBA applications from FEMA, then they're excluding themselves from other assistance," said Ron Veltkamp, SBA spokesman.

Veltkamp said most applications for Federal Emergency Management Agency grants must first be considered for loans.

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Clinic offers inside track to loan funds

Small business owners can apply for collateral-free loans of up to $50,000 during a three-day loan clinic that starts Monday at the Montgomery Area Chamber of Commerce Small Business Incubator.

The clinic is part of a nationwide effort by the U.S. Small Business Administration to improve access to capital for new and existing small businesses. The SBA has partnered with the chamber's incubator and Alabama State University's Small Business Development Center to bring the clinic to the Montgomery area.
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Home loan gloom looms

NOW is the time to examine your home loan in light of higher interest rates, finance experts say.

Borrowers may face a hike next month after a Reserve Bank statement this week warned the chances of higher interest rates in the months ahead had increased.

Finance experts say higher interest rates will be a response to the Reserve Bank's commitment to keeping the lid on inflation.

The latest inflation rate of 2.6 per cent is within the central bank's comfort zone of 2 to 3 per cent. But the Reserve Bank is predicting 3 per cent or higher by the end of next year as capacity constraints push up wages and prices.

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Man is jailed in student loan ID theft scam

A Philadelphia man who used the names and Social Security numbers of a Perkasie woman and Bedminster man to obtain more than $25,000 in student loans was sentenced in Bucks County Court in Doylestown on Friday to four to 23 months in the county prison.

Christopher Hooper, 32, apologized at his sentencing hearing before county judge Kenneth Biehn and vowed to help police catch the other people involved in the identity theft scam.

"I believe I do owe you an explanation," Hooper told the victims. "I did borrow this money in good faith"

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Loan change could hurt students

If you have student loans, experts have some advice for you: Consolidate them now.

If you don’t, you might cost yourself thousands of dollars. President Bush and congressional Republicans want to stop student borrowers from locking in fixed interest rates — now at an all-time low of 3.37 percent — and force them to ride the variable-interest roller coaster, which is allowed to peak as high as 8.25 percent.

What does that mean for the average West Virginia college student? Well, say you graduated from West Virginia University in 2003. You have an average of $20,145 in student loan debt, according to college specialist group Thomson Peterson’s. If you consolidate at today’s rates, you could lock in today’s ultra-low interest rate for up to 20 years, paying a total of $7,730 in interest over the life of your loan.

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