Lending – Guide Global http://guideglobal.com/ Wed, 22 Sep 2021 16:47:43 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://guideglobal.com/wp-content/uploads/2021/05/default1.png Lending – Guide Global http://guideglobal.com/ 32 32 How Payday Loan Interest Rates Vary Between States https://guideglobal.com/how-payday-loan-interest-rates-vary-between-states/ https://guideglobal.com/how-payday-loan-interest-rates-vary-between-states/#respond Fri, 14 May 2021 08:10:18 +0000 https://guideglobal.com/?p=625 Payday loan interest rates in the United States vary from state to state. Whilst payday loans are strictly governed, or even outlawed entirely, in some states, in others, APR can sometimes be over 600%. Ubiquity of Payday Loans Payday loans, thanks to how easy they are to obtain, are becoming increasingly common. The volume of […]]]>

Payday loan interest rates in the United States vary from state to state. Whilst payday loans are strictly governed, or even outlawed entirely, in some states, in others, APR can sometimes be over 600%.

Ubiquity of Payday Loans

Payday loans, thanks to how easy they are to obtain, are becoming increasingly common. The volume of people depending on these types of loans is thought to have tripled since the coronavirus pandemic according to research from Gusto. Only 2% of these workers had used a payday loan before the pandemic.

According to the Consumer Financial Protection Bureau, 1 in 4 payday loans are re-borrowed nine times, if not more. It takes borrowers an average of 5 months to pay off their loans and they pay $520 in finance charges, on average. Thus, it is easy to see how these borrowers can easily enter a spiral of debt.

It is clear that these loans can cause a huge negative impact on borrowers. Charla Rios, a researcher with CRL, says that “in addition to the repeat borrowing…there’s an increase in the chances of overdrafts, losing a bank account, bankruptcy and difficulty paying bills.”

She continues: “People are financially strained right now and we also know the outcome and the harms of payday loans, so these loans are not a solution for the time that we’re in”.

Clamping Down on Payday Loan Interest Rates

Over the last year, many states have started to clamp down on what has become known as “predatory lending” by introducing specific laws relating to payday loans. 

Payday loan lenders have a reputation for taking advantage of people down on their luck financially by charging sky-high interest rates which are impossible to repay.

Payday loans are still widely available across the United States with over half of US states offering restriction-free loans. For many bad credit lender, all that is required is a valid form of ID, an existing bank account and proof of income.


In an effort to strive for more responsible lending practices, the Center for Responsible Lending analysed the average APR across different states based on a 14-day loan of $300. They revealed that due to the “finance charges” incurred for each loan, many consumers are oblivious to how much interest they are really paying.

Risk of Predatory Lending 

Statistics from CRL suggest that there are around 200 million Americans currently living in states where payday lending is not heavily regulated. This means that an increasingly high volume of Americans are at risk of predatory lending, sometimes with triple-digit interest rates.

Texas payday loans have the highest rates of any state, with a typical APR of 664%. As a reference, this figure is 40 times more than the average credit card interest rate (16.12%). Formerly, the highest payday loan rates were in Ohio, with an average of 677%; although, this has since been brought down substantially to 138%.

Capped Interest Rates

Certain states have already been regulating payday loan interest rates for some time. These are Arkansas, Arizona, Colorado, Connecticut, Georgia, Maryland, Massachusetts, Montana, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, South Dakota, Vermont, West Virginia and the District of Columbia. In these states, payday loan interest rates are capped at 36% or lower.

More recently, Nebraska’s November general election saw its voters overwhelmingly opt to cap payday loan interest rates at 36%. This was a huge drop from the previous average APR in Nebraska which was a staggering 404%.

January 2021 saw Illinois follow suit, passing a bill to cap rates on consumer loans, including both payday and car title, at 36%. Although the bill is still pending a signature from the Governor, it will make Illinois the latest state to clamp down on payday loan interest rates.

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Navient Student Loan Trust 2021-2 — Moody’s assigns provisional ratings to Navient Student Loan Trust 2021-2 https://guideglobal.com/navient-student-loan-trust-2021-2-moodys-assigns-provisional-ratings-to-navient-student-loan-trust-2021-2/ https://guideglobal.com/navient-student-loan-trust-2021-2-moodys-assigns-provisional-ratings-to-navient-student-loan-trust-2021-2/#respond Fri, 14 May 2021 07:16:46 +0000 https://guideglobal.com/?p=589 Rating Action: Moody’s assigns provisional ratings to Navient Student Loan Trust 2021-2Global Credit Research – 07 Apr 2021Approximately $762.3 million of asset-backed securities ratedNew York, April 07, 2021 — Moody’s Investors Service, (“Moody’s”) has assigned a provisional rating of (P)Aaa (sf) to the Class A-1A, Class A-1B, and Class B notes to be issued by […]]]>

Rating Action: Moody’s assigns provisional ratings to Navient Student Loan Trust 2021-2Global Credit Research – 07 Apr 2021Approximately $762.3 million of asset-backed securities ratedNew York, April 07, 2021 — Moody’s Investors Service, (“Moody’s”) has assigned a provisional rating of (P)Aaa (sf) to the Class A-1A, Class A-1B, and Class B notes to be issued by Navient Student Loan Trust 2021-2. The underlying collateral consists of Federal Family Education Loan Program (FFELP) non-consolidation and consolidation student loans.Moody’s issues provisional ratings in advance of the final sale of securities. Upon a conclusive review of the final documentation, Moody’s will endeavor to assign final ratings to the securities. Final ratings may differ from provisional ratings.The complete rating actions are as follows:Issuer: Navient Student Loan Trust 2021-2Fixed Rate Class A-1A Notes, Assigned (P)Aaa (sf)Floating Rate Class A-1B Notes, Assigned (P)Aaa (sf)Floating Rate Class B Notes, Assigned (P)Aaa (sf)RATINGS RATIONALEThe ratings are based on the underlying collateral consisting of FFELP student loans, which are indirectly guaranteed by the U.S. Department of Education for a minimum of 97% of defaulted principal and accrued interest; the overcollateralization of the trust, which is expected to have an initial parity level of 103.1%; a reserve account funded at 3.35% of the initial pool balance that steps down successively to 1.00% of the pool balance on the September 2023 distribution date and to 0.65% of the pool balance on the April 2032 distribution date, and has a floor of approximately $0.76 million; excess spread that is expected to average between 1.3% and 1.5% basis points per annum that is trapped to a target overcollateralization level of the greater of 3.01% of the adjusted pool balance and $5.7 million, and is used on or after the April 2027 distribution date to exclusively pay down bonds. The ratings are also based on the expertise and experience of Navient Solutions, LLC (formerly known as Navient Solutions, Inc.), which is one of the largest FFELP and Direct Loan servicer, as the servicer for this transaction.The expected net loss on the loan pool to be securitized is approximately 0.8%, similar to the prior Navient FFELP deal.The COVID-19 pandemic has had a significant impact on economic activity. Although global economies have shown a remarkable degree of resilience to date and are returning to growth, the uneven effects on individual businesses, sectors and regions will continue throughout 2021 and will endure as a challenge to the world’s economies well beyond the end of the year. While persistent virus fears remain the main risk for a recovery in demand, the economy will recover faster if vaccines and further fiscal and monetary policy responses bring forward a normalization of activity. As a result, there is a heightened degree of uncertainty around our forecasts. Our analysis has considered the effect on the performance of consumer assets from a gradual and unbalanced recovery in US economic activity. Specifically, for FFELP student loan ABS, loan performance will continue to benefit from government support and the improving unemployment rate that will support the borrower’s income and their ability to service debt. However, any elevated use of borrower assistance programs to affected borrowers, such as forbearance, deferment and income-based repayment (IBR), may adversely impact scheduled cash flows to bondholders.We regard the COVID-19 outbreak as a social risk under our ESG framework, given the substantial implications for public health and safety.The ratings consider high social risk attributable to the debt burden of student loans and the affordability of education in the US. Potential regulatory or legislative changes could impact funds available to the trust.Rating MethodologyThe principal methodology used in these ratings was “Moody’s Approach to Rating Securities Backed by FFELP Student Loans” published in May 2020 and available at https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBS_1226065. Alternatively, please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.Factors that would lead to a downgrade of the ratings:Because the US Department of Education guarantees at least 97% of principal and accrued interest on defaulted loans, Moody’s could downgrade the ratings of the notes if it were to downgrade the rating on the United States government. Moody’s could downgrade the ratings if performance is materially worse than it currently expects, specifically, if the usage of borrower relief programs such as forbearance, deferment and IBR is higher than anticipated, net losses or voluntary prepayments are higher than it currently expects, or if the loan pool pays down too slowly to pay off the notes by maturity. In our analysis, we applied incremental stresses to our typical cash flow assumptions in consideration of a likely slowdown in borrower payments brought on by the economic impact of the COVID-19 pandemic.REGULATORY DISCLOSURESFor further specification of Moody’s key rating assumptions and sensitivity analysis, see the sections Methodology Assumptions and Sensitivity to Assumptions in the disclosure form. Moody’s Rating Symbols and Definitions can be found at: https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_79004.Further information on the representations and warranties and enforcement mechanisms available to investors are available on http://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBS_1275871.In rating this transaction, Moody’s used a cash flow model to model cash flow stress scenarios to determine the extent to which investors would receive timely payments of interest and principal in the stress scenarios, given the transaction structure and collateral composition.Moody’s quantitative analysis entails an evaluation of scenarios that stress factors contributing to sensitivity of ratings and take into account the likelihood of severe collateral losses or impaired cash flows.For ratings issued on a program, series, category/class of debt or security this announcement provides certain regulatory disclosures in relation to each rating of a subsequently issued bond or note of the same series, category/class of debt, security or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance with Moody’s rating practices. For ratings issued on a support provider, this announcement provides certain regulatory disclosures in relation to the credit rating action on the support provider and in relation to each particular credit rating action for securities that derive their credit ratings from the support provider’s credit rating. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating. For further information please see the ratings tab on the issuer/entity page for the respective issuer on www.moodys.com.For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action, the associated regulatory disclosures will be those of the guarantor entity. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity.The ratings have been disclosed to the rated entity or its designated agent(s) and issued with no amendment resulting from that disclosure.These ratings are solicited. Please refer to Moody’s Policy for Designating and Assigning Unsolicited Credit Ratings available on its website www.moodys.com.Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related rating outlook or rating review.Moody’s general principles for assessing environmental, social and governance (ESG) risks in our credit analysis can be found at https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1243406.At least one ESG consideration was material to the credit rating action(s) announced and described above.The Global Scale Credit Rating on this Credit Rating Announcement was issued by one of Moody’s affiliates outside the EU and is endorsed by Moody’s Deutschland GmbH, An der Welle 5, Frankfurt am Main 60322, Germany, in accordance with Art.4 paragraph 3 of the Regulation (EC) No 1060/2009 on Credit Rating Agencies. Further information on the EU endorsement status and on the Moody’s office that issued the credit rating is available on www.moodys.com.The Global Scale Credit Rating on this Credit Rating Announcement was issued by one of Moody’s affiliates outside the UK and is endorsed by Moody’s Investors Service Limited, One Canada Square, Canary Wharf, London E14 5FA under the law applicable to credit rating agencies in the UK. Further information on the UK endorsement status and on the Moody’s office that issued the credit rating is available on www.moodys.com.Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody’s legal entity that has issued the rating.Please see the ratings tab on the issuer/entity page on www.moodys.com for additional regulatory disclosures for each credit rating. Selven Veeraragoo Asst Vice President – Analyst Structured Finance Group Moody’s Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. 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Unique loan restructuring paving the way for Indian real estate renaissance -Nayan Shah https://guideglobal.com/unique-loan-restructuring-paving-the-way-for-indian-real-estate-renaissance-nayan-shah/ https://guideglobal.com/unique-loan-restructuring-paving-the-way-for-indian-real-estate-renaissance-nayan-shah/#respond Wed, 07 Apr 2021 23:17:36 +0000 https://guideglobal.com/unique-loan-restructuring-paving-the-way-for-indian-real-estate-renaissance-nayan-shah/ The Covid-19 epidemic has triggered widespread economic and social disruption in India, possibly the biggest economic shock the country has ever experienced. To put the impact into perspective, the International Monetary Fund (IMF) forecast a sharp 4.5% contraction for the Indian economy in 2020. This drop will be a historic low and given that the […]]]>

The Covid-19 epidemic has triggered widespread economic and social disruption in India, possibly the biggest economic shock the country has ever experienced. To put the impact into perspective, the International Monetary Fund (IMF) forecast a sharp 4.5% contraction for the Indian economy in 2020. This drop will be a historic low and given that the economy is already slowing down. with a GDP growth of 3.1%. before the pandemic, the recovery trajectory remains an unknown path without a definitive timetable, given the unpredictable nature of the circumstances.

Indian Real Estate has also felt an equal measure of the detrimental effects of Covid-19. The sector, already grappling with the impact of changing regulations, subdued demand and liquidity issues, was gearing up for a fresh start in 2020 – with affordable housing widely identified as the flagship segment to accelerate change of Fortune. However, the Covid-19 crisis has only added to its existing woes – spawning shifts in consumer preferences, labor shortages, falling sales, stacking inventory and worsening an already severe liquidity crisis. The situation is even bleaker for small and medium-sized industry players, who face major challenges in adapting to changing business practices, managing cash flow and developing new strategies to support companies, which should now lead to a new wave of consolidation.

Being the second largest employer after agriculture and a major contributor to India’s GDP growth, the health of the real estate sector has vital socio-economic implications. In addition, the industry maintains close ties and provides support to 250 other ancillary industries, including basic industries such as steel and cement. Therefore, Indian real estate today requires a considerable stranglehold at this stage to ensure adequate support for one of the strongest pillars of the country’s economy.

In recent months, the Reserve Bank of India and the Monetary Policy Committee have taken several steps to contain the economic fallout caused by the pandemic and inject liquidity into an already struggling economy. On August 6, 2020, the RBI authorized a one-time loan restructuring for micro, small and medium-sized business accounts and borrowers, a move intended to ease debt strains on businesses and lenders. A loan restructuring program helps borrowers cope with immediate income losses by giving them the option of delaying interest payments or repaying loans on easy terms. For banking institutions, this will help reduce non-performing assets (NPAs) which, according to the RBI’s financial stability report, are expected to reach 12.5% ​​by March 2021, due to the economic distress caused by the pandemic.

While the intention of the umbrella body is remarkable, the extension of the one-off restructuring of all real estate loans is the need of the moment to revive the sector and provide much needed respite for allied industries. According to an internal survey conducted by CREDAI MCHI, there was an 85% drop in home sales and a 98% percent drop in new launches in the MMR region, during the April to June quarter of the year. 20-21 fiscal year, adding to the heightened liquidity crisis. in the current period.

With construction activities stalled due to the liquidity shortage causing concern for the industry, a one-time debt restructuring will help developers seek new credit to keep current spending and ensure projects are completed on schedule. time limit. This calls for a win-win situation both for homebuyers, who can get their assets on time, and for lending institutions, which can avoid fund bottlenecks and defaults.

As the entire real estate ecosystem awaits the RBI’s announcement on the loan moratorium and loan restructuring terms for businesses and individuals, it is crucial for us to see how the bank’s decisions apex will give momentum to the recovery for Indian Real. Real estate sector. However, the underlying hope is that the regulator will consider providing additional financial support in the form of OTRs, then allowing its growth and recovery in terms of demand stimulation and greater liquidity. by the next fiscal year.

Disclaimer: The opinions expressed in the above article are those of the authors and do not necessarily represent or reflect the opinions of this publisher. Unless otherwise indicated, the author writes in a personal capacity. They are not intended and should not be taken to represent any official ideas, attitudes or policies of any agency or institution.


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Boost for an organic food business | South West https://guideglobal.com/boost-for-an-organic-food-business-south-west/ https://guideglobal.com/boost-for-an-organic-food-business-south-west/#respond Wed, 07 Apr 2021 23:17:33 +0000 https://guideglobal.com/boost-for-an-organic-food-business-south-west/ The Bristol-based Real Olive Company received a loan of £ 150,000 through SWIG Finance, backed by the Coronavirus Business Interruption Loans Scheme. The investment is being used to mitigate some of the recent market disruptions and put the business on a solid footing to take advantage of new growth opportunities. Led by directors Ben Flight […]]]>



The Bristol-based Real Olive Company received a loan of £ 150,000 through SWIG Finance, backed by the Coronavirus Business Interruption Loans Scheme.

The investment is being used to mitigate some of the recent market disruptions and put the business on a solid footing to take advantage of new growth opportunities.

Led by directors Ben Flight and Karin Andersson, the company started with a stall at St Nicholas Market in 1998. Its products are now stocked nationwide by retailers such as Waitrose and Sainsburys.

The company works with artisan producers and farmers from the Mediterranean.

In recent months, The Real Olive Company has changed its business model in response to Covid-19. To help minimize disruption, they created an e-commerce platform to distribute its own products directly to customers.

Ed Gardiner, COO of The Real Olive Company, said: “We have exciting plans for the next few years, CBILS funding means we can now work for the future and worry less about the immediate challenges.”

Nicola Mapp, Commercial Director of SWIG Finance, added: “The Real Olive Company is an exciting company to watch. Their plans for the future will go a long way to getting the company back on track after this disruptive time. We are delighted to be able to support them on their journey. “

Jerry Riches of ACF Direct introduced the company to SWIG Finance.

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How Bandhan Bank puts power in the hands of millions of women across India https://guideglobal.com/how-bandhan-bank-puts-power-in-the-hands-of-millions-of-women-across-india/ https://guideglobal.com/how-bandhan-bank-puts-power-in-the-hands-of-millions-of-women-across-india/#respond Wed, 07 Apr 2021 23:17:32 +0000 https://guideglobal.com/how-bandhan-bank-puts-power-in-the-hands-of-millions-of-women-across-india/ “He who controls the finances, controls the family, the society and even the country.” With this awareness, Gender Equity Champion and Founder of Bandhan Bank Chandra Shekhar Ghosh embarked on a lifelong mission to transfer power into the hands of women and build a financially inclusive India. A mission that began over 20 years ago […]]]>

“He who controls the finances, controls the family, the society and even the country.” With this awareness, Gender Equity Champion and Founder of Bandhan Bank Chandra Shekhar Ghosh embarked on a lifelong mission to transfer power into the hands of women and build a financially inclusive India.

A mission that began over 20 years ago and officially took shape in 2001 when he first launched microfinance operations for women in rural West Bengal through a business in non-profit which later became the Bandhan Bank. Now, two decades later, Bandhan Bank has more than 15 million female customers who make up two-thirds of the bank’s total customer base, which stands at 22 million.

Bandhan Bank Managing Director and CEO Chandra Shekhar Ghosh believes more needs to be done to empower women and a financially inclusive India

And yet, Bandhan Bank Managing Director and CEO Chandra Shekhar Ghosh points out that “this is not the end” of the bank’s goal of reaching women in the most disadvantaged and underserved communities in the world. across India. He says Your story Founder and CEO Shradha Sharma in a recent interview,

“Now 1 crore 50 lakh of women are my clients. I increased this day by day, month by month. But this is not the end. There are a lot more clients than I can reach. Every time new customers arrive (to us). New mothers are coming (to us). They tell us about their very bad experiences with their family, but they are now able to start a new business or relaunch an existing business or work together for their husband’s business. So this is a change that I saw.

And yet, this change did not happen overnight. It took years of hard work to build trust between women and their families in these rural areas, understand their challenges and learn firsthand about their situation.

Watch the full interview of Bandhan Bank Managing Director and CEO Chandra Shekhar Ghosh with YourStory Founder and CEO Shradha Sharma:

Promote the empowerment of women and female entrepreneurship

Indeed, Bandhan Bank – which became the first microfinance institution in India to obtain a universal banking license and operate as one in 2015 – has grown from just 2,523 outlets when it was launched five years ago to over 5,300+ of these points and 1,000 branch banks in 34 states and union territories out of a total of 36 by 2020.

With the broad reach of the bank and Chandra Shekhar’s innate understanding of the challenges facing the most underbanked sections of the country, Bandhan Bank is today widely recognized for its role in serving all socio-economic sections, with special emphasis on her accomplishments in empowering women, promoting female entrepreneurship and eradicating poverty in some of India’s most remote rural areas.

Today, if women in rural India need money to start a business or to run or expand an existing one, they know where to go to get the money, says Chandra Shekhar. “It’s the confidence that came to them,” he adds.

With that trust comes financial independence and power. Thanks to the money loaned to them by Bandhan Bank, many women have become entrepreneurs and have been able to provide for their families and their children’s education.

Bandhan Bank CEO and Managing Director Chandra Shekhar Ghosh interacts with the bank’s clients, many of whom have gone on to become entrepreneurs

Take the example of Renuwara Bibi from the city of Pakur in Jharkhand. With a Rs. 7,000 loan from Bandhan Bank in 2008, Renuwara opened her own grocery store to support her family of four unable to make ends meet on her husband’s education income alone. With the ensuing Bandhan Loans, Renuwar started his own business making disposable paper utensils and now runs a thriving business that employs several people.

Nilam devi de Begusarai in Bihar is another successful entrepreneur from Bandhan Bank. Through the simple loan application process at Bandhan Bank, Nilam was able to secure her first loan of Rs. 10,000 with which she started her own costume jewelry business. Thanks to the financial stability that his business gave him, Nilam was able to defend the education of his children and provide jobs for other members of the community.

Indeed, there are countless such stories about women’s empowerment in every corner of the country. Chandra Shekhar attributes this success to the commitment of women to their work and their willingness to improve their situation.

He admits that these successes are a matter of pride for him. Especially given the myriad of challenges he faced early in his efforts to empower women in a community.

Bandhan Bank CEO and Managing Director Chandra Shekhar Ghosh in Conversation with YourStory Founder and CEO Shradha Sharma

“A very big challenge has been to transfer power from men to women. It is very hard in our country. Even if women have the income, it is not very easy to transfer power. Because ours is a predominantly patriarchal society, ”he told YourStory.

At first, men found it difficult to accept that women received money. For this reason, Chandra Shekhar observed that beatings and violence increased in these homes. But slowly he also saw that the men began to realize that women were the source of the money since only women could benefit from these loans.

With this realization came the fear that their wives might return to their father’s house, which meant that they would lose the source of their money. And so, men gradually began to realize that they should work together with their wives and treat them with respect.

In this way, victories have continued to come over the years – in different ways, in different sizes. Some were small wins. Some big. But they were all alike in that they signaled the slow and steady transfer of power into the hands of these women.

Like when Chandra Shekhar went to a bank branch. He saw how all the mothers were sitting inside in the branch while their husbands stood outside waiting for them. “It’s power. It is the only office where husbands do not have power, but where wives do, ”says Chandra Shekhar triumphantly.

Many times Chandra Shekhar quietly observed such activities in bank branches. Witness to this ‘cash’ To take place. This transfer of power. This change in stature for women. He elaborates,

“Several times I observe how the men stand in front of the bank branch and discuss among themselves. And later when the woman arrives, they take her home in the backseat of the bike, while talking very patiently and respectfully with her. So things have changed. ”

Banque Bandhan: genesis and impact

Indeed, these are welcome changes for Chandra Shekhar, whose first observations in the 1990s on the status of women in the family shaped her drive to empower women while her observations on the plight of small traders have fueled his desire to help them and to work. towards a more financially inclusive India.

A young NGO employee at the time, Chandrasekhar saw the lives of the women in the family up close. He observed the amount of responsibility they took on throughout the day, the long, ruthless hours they worked without any manifestation of complaint, the violence and disrespect they suffered, and their lack of status in their families and society despite their many contributions.

At the same time, he observed how these less privileged families had to go to pawn shops and take out high interest loans to meet their daily needs because the banks did not lend them.

Driven by a deep desire to help these people by doubling family income and empowering women, Chandra Shekhar established a non-profit company in 2001 to provide microcredit to women.

“It was then that I decided to create this NGO where we can empower women to earn money on their own and this can increase family income while reducing conflicts between husband and wife. and improving the lives and educational reach of their children. Chandra Shekhar remembers.

Today, more than two decades later, Chandra Shekhar has been able to accomplish all he has set out for himself and on a larger scale. During his visits to the field, people say to him: “Sir, everything you see with your eyes, everything has been developed by you. When he sees this, he feels a sense of pride for the level of impact he has been able to create with his efforts so far.

On another field visit, he saw a person sleeping in a client’s house. He asked the lady if the person was his relative and she replied, “Sir, now that I have an income, my parents have also started to come. Before, no one gave me a chance.

“It’s power,” says Chandra Shekhar. “When you talk to these people and ask them about the beginning of their life, they cry. They say, where we were and where we came from. So that’s where I feel humbled and happy that God has given me the opportunity to do something for these people.

But there is still a long way to go to empower women and build a financially inclusive India, he adds.

On the one hand, the husband’s participation in taking on responsibilities within the household must increase, as women still end up doing all the household chores in addition to running businesses, says Chandra Shekhar. Second, there are still a large number of women who do not have access to credit. The reasons can be societal or political. They should also have access to credit, he adds.

Because as Chandra Shekhar points out, in the pursuit of women’s empowerment, their financial freedom is key.

“So far we have been trying to empower women. But you see, finance is power – the one that controls finances, controls family, society and even the country, ”he concludes.


Watch the full interview here:

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My heart (and my arm) bleeds for the Seattle music scene https://guideglobal.com/my-heart-and-my-arm-bleeds-for-the-seattle-music-scene/ https://guideglobal.com/my-heart-and-my-arm-bleeds-for-the-seattle-music-scene/#respond Wed, 07 Apr 2021 23:17:30 +0000 https://guideglobal.com/my-heart-and-my-arm-bleeds-for-the-seattle-music-scene/ With hundreds of thousands of deaths nationwide, it doesn’t seem fair to complain that the music industry has been wiped out, but it has far bigger repercussions than just missing out on seeing a favorite band. King County is in phase 2 of the state’s “Safe Start” reopening guidelines, but nightclubs and concert halls like […]]]>

With hundreds of thousands of deaths nationwide, it doesn’t seem fair to complain that the music industry has been wiped out, but it has far bigger repercussions than just missing out on seeing a favorite band. King County is in phase 2 of the state’s “Safe Start” reopening guidelines, but nightclubs and concert halls like the Moore will not reopen until phase 4. That leaves the music live, as well. as theaters and major sporting events, among the latest industries set to reopen. Most in the industry believe the best opening scenario is spring or summer 2021.

Arts and culture-related jobs accounted for 8.4% of our state’s gross domestic product in 2017, according to the Americans for the Arts Action Fund. In Washington, there were as many people employed in the arts (before the pandemic) as employed by Boeing. According to the Recording Industry of America Association, the state’s music industry provided 38,000 of these jobs last year and contributed $ 2.42 billion to the state’s economy.

Because live performances represent 75% of musicians ‘income and 100% of venues’ income, this source of income has practically ceased to exist. Many aspects of the economy slowed down, but few industries fell to zero – and stayed there – like live music did. A large portion of those 38,000 music jobs are based in Seattle, which means it’s not a negligible success for the city.

Multiple efforts are underway to raise awareness and mobilize funds. Nationally, the $ 10 billion Save Our Stages law, which sought to provide grants to independent concert halls, enjoyed bipartisan support. But that bill, even with Republican co-authorship, has been stalled as part of the larger debate over the bailout.

Last spring, Seattle saw dozens of GoFundMe efforts for local clubs, mostly supporting employees in closed places. A fundraiser for the tractor tavern staff raised $ 40,000. Many club owners took out the initial Federal Paycheck Protection Program loans to pay employees, but that money, along with unemployment premiums, is long gone.

The day before my blood donation at Moore, I participated in a Zoom appeal with club owners and musicians trying to raise funds for Washington clubs with the recently launched Keep Music Live WA campaign.

During that call, Steven Severin, co-owner of Neumos, said that without support 90% of independent concert halls could close by the end of the year. “Six Seattle clubs have closed so far, and every week I hear more stories,” he says. “When these sites go away, they won’t come back. They will turn into condos or Panera breads.

Keep Music Live WA is seeking to raise $ 10 million to support venues that host less than 1,000 guests. If these clubs go bankrupt, the local industry fears that large concert companies with generous pockets (such as LiveNation) could monopolize the post-pandemic period by buying the best of the city’s remaining independent venues.

Seattle legend Sir Mix-A-Lot, one of the many musicians on the Zoom Call, was instrumental in the cause. “This career has been entrusted to me,” he says. ” I have [played] sites where the site owner did not climb with me. Mix has seen his career progress as he gained notoriety and record sales, but he says the clubs he started at – although they did everything for his success – didn’t received financial assistance to nurture talent.

Concert halls also take guests to surrounding restaurants and establishments. “The tentacles go a long way,” says Karli Ingersoll, who runs the Lucky Lounge in Spokane.

When the pandemic first struck, it was hoped that would mean a temporary hiatus and that clubs could reopen or adapt, but the number of cases did not justify it. Seattle’s Jazz Alley invested thousands of dollars this spring to modernize its stage with plexiglass barriers and announced a series of shows in late June. But the state has put the kibosh on that workaround, due to the county’s workload and restrictions on large gatherings.

There have been a few attempts at live pay-per-view gigs, but so far these have generated minimal revenue compared to physical gigs. Pollstar, the industry listing for the concert industry, now tracks live view counts, but doesn’t care about revenue. I haven’t heard anyone, even the most forward-thinking people I know, suggest that live broadcasts will replace live broadcasts soon.

For musicians, playing a Zoom concert, even one that generates income from a digital tip pot, presents challenges. “Playing virtually is just not the same,” says Tekla Waterfield. She and her husband, Jeff Fielder, have put together several successful broadcasts, but it’s not something a musician can do every day of the week, or wouldn’t want to do it. “Performance is all about the adrenaline that comes with the synergy between the audience and the group,” says Waterfield. “It’s a community construction.

Industry players are increasingly discussing the idea that Seattle might have few or no clubs by the end of the pandemic, but for many musicians it’s just too dark to imagine. “We try not to think too much about the future because it hurts,” says Waterfield.

On the Keep Music Live Washington webpage, Sir Mix-A-Lot explains how the memory of the live performance stays with him long after a show. “I don’t think much about the gold records hanging on the wall,” he says. “I think of the memories in the small rooms.”

The Moore is bigger than a small club, but it’s still a place full of memories for me. I wanted to donate blood to feel like I’m doing something positive, but I admit that the idea of ​​being back in that space was a big part of the draw. I hadn’t donated blood for years. I’m fed up with needles, which is part of why I closed my eyes and listened to Patti Smith. I don’t eat red meat and am anemic, so I was sure I would be rejected. But I passed.

The donation took 15 minutes and was painless – and because all Bloodworks donations are tested for antibody markers (a free benefit for donating blood), a few days later I found out I was negative for COVID-19. Besides staying at home and always wearing a mask, giving blood seemed like a small victory in a world with so many losses. I was almost disappointed when it was over, as with other donors planned after me, that meant I had to leave the Moore Theater.

No one knows when the live music will return to Seattle. Patti Smith’s March show was initially only postponed, but has since been canceled. My only coup to get into Paramount soon might be when it hosts another pop-up blood drive in November.

When that Patti Smith concert was postponed, her name was taken off the Paramount marquee. What came up in its place was a message that sounded like a creed for music in Seattle right now, perhaps a creed for many aspects of life in this unprecedented time.

“It’s only an intermission”, we can read. “We will see you soon.”

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Time to Pass Budget Law – Minority Leader | Politics https://guideglobal.com/time-to-pass-budget-law-minority-leader-politics/ https://guideglobal.com/time-to-pass-budget-law-minority-leader-politics/#respond Wed, 07 Apr 2021 23:17:27 +0000 https://guideglobal.com/time-to-pass-budget-law-minority-leader-politics/ Minority leader Haruna Iddrisu called for the enactment of a budget law and the creation of an oversight office in parliament.He explained that the passage of the budget law and the presence of the Oversight Office would help the parliament to scrutinize budgets and major economic transactions before they are submitted to the House for […]]]>

Minority leader Haruna Iddrisu called for the enactment of a budget law and the creation of an oversight office in parliament.
He explained that the passage of the budget law and the presence of the Oversight Office would help the parliament to scrutinize budgets and major economic transactions before they are submitted to the House for consideration.

“This will ensure adequate protection of public funds and taxpayer resources, as well as good value for money,” he said.

Media engagement

During an exchange between the leadership of Parliament and members of the Parliamentary Press Corps (PPC) in Parliament, Mr. Iddrisu expressed concern that in exercising control over budgets over the years under various governments,

Parliament had failed to act diligently before major economic transactions and loans were tabled in Parliament.

“My position is that Parliament should not approve any major economic loan or transaction or contract unless it is accompanied by an independent value-for-money report,” he said.

He used the pledge to provide a summary of what happened at the first meeting of the First Session of the Eighth Legislature.

Also present at the meeting were the Clerk of Parliament, Mr. Cyril Kwabena Nsiah, and the Director of Public Affairs of the Parliament, Ms. Kate Addo.

Dissatisfaction

Mr Iddrisu said he was particularly dissatisfied with Parliament’s exercise of its oversight function.

He said, for example, that Parliament had only used two weeks to consider the 2021 budget, which he called woefully inadequate for a budget review.

“We are unable to hold ministries and departments accountable for lack of time and lack of time,” he said.

Accurate reporting

Mr Nsiah said the changing parliamentary landscape places a duty on parliament to adopt new and more sophisticated communication tools in disseminating relevant information to citizens, as well as demystifying the public’s misperception about the role of Parliament in the governance architecture.

He said the PPC, as one of Parliament’s key stakeholders in citizen engagement, was a critical partner in the Legislature’s quest to define its own gender.

He therefore reminded PPC members of their responsibility to provide the Ghanaian people with accurate reporting on matters relating to Parliament to help project a positive image of Parliament.

“As media professionals, you are required to exercise your profession in accordance with the rules and ethics prescribed by the statutes governing freedom of expression, which include the verification and authenticity of information before its dissemination”, he declared.

Source: graphiconline.com

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Is Marriage Affecting Your Credit? https://guideglobal.com/is-marriage-affecting-your-credit/ https://guideglobal.com/is-marriage-affecting-your-credit/#respond Wed, 07 Apr 2021 23:17:26 +0000 https://guideglobal.com/is-marriage-affecting-your-credit/ Marriage is a legal union, and it brings financial benefits like tax-free inheritance, sharing of social and government benefits, and more. But getting married doesn’t affect your credit; there is no marriage credit score that is recalculated after you say “yes”. This means that if you have good credit, marrying someone with a lower score […]]]>

Marriage is a legal union, and it brings financial benefits like tax-free inheritance, sharing of social and government benefits, and more. But getting married doesn’t affect your credit; there is no marriage credit score that is recalculated after you say “yes”.

This means that if you have good credit, marrying someone with a lower score won’t damage them – although there are ways to help your spouse build up credit.

And if you were hoping that your bad credit could be automatically improved by your new marital status, you’re out of luck.

See what fuels your credit

Check your free credit score, get personalized information. Weekly updates allow you to track your progress.

Your credit files stay separate

Credit reports, which provide the data used to calculate credit scores, include your credit and payment history. They also include personal data, such as your date of birth and your social security number. But they do not contain information about your marital status. And when you get married, your credit history stays separate, it doesn’t merge with your spouse’s.

Changing to a married name doesn’t affect your credit either – credit records are first identified by your Social Security number, which doesn’t change when you get married.

You don’t automatically share credit cards

Marriage also does not automatically give the spouses the right to use each other’s credit cards. If you want, you can become authorized users on each other’s cards exactly as you would have done before your wedding – the account holder adds the authorized user.

If you each have the same type of credit card, that’s fine. You can both continue to use them separately, or each can make the other an authorized user to strategize your spending for maximum rewards. You can also request the same loyalty card and double your rewards if you think you both qualify.

But spouses can help each other

All of this does not mean that the spouses cannot give each other a helping hand.

If a person has a low score or thin credit while the other has a long history of responsible credit use and a good score, the higher scoring partner can help the other. But it is important to do this carefully so that the highest score is not sacrificed to drive up the lowest score.

If one person has a low score or low credit while the other has a long history of responsible credit use and a good score, the spouse with the higher score can help the other.

Making the lowest-rated spouse an authorized user on a credit card with a good payment history can help build or rebuild credit. However, an additional card user can mean a higher balance. Using more than 30% of a card’s credit limit can hurt your score, even if you pay in full each month, thanks to a scoring factor called use of credit. One solution is to make an extra payment mid-cycle to keep the balance low.

If your score is higher because you’re more careful about paying on time than your spouse, you may want to be responsible for paying monthly bills to prevent scores from slipping. Better yet, set aside time to do it together, and at least automate minimum payments if possible.

Joint or co-signed accounts can be tricky. These accounts make both signatories fully responsible for the repayment, so be careful if you plan to borrow together. If your spouse makes a mistake, it can also affect your credit score. It can also limit the amount you can borrow.

The best idea: openly share credit information. You might someday want to apply for joint credit – maybe a mortgage – and it’ll demand a decent score from both of you.

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PPP loans still available for Delaware businesses https://guideglobal.com/ppp-loans-still-available-for-delaware-businesses/ https://guideglobal.com/ppp-loans-still-available-for-delaware-businesses/#respond Wed, 07 Apr 2021 23:17:23 +0000 https://guideglobal.com/ppp-loans-still-available-for-delaware-businesses/ Delaware businesses can still take out the latest round of Paycheck Protection Program loans. The PPP program received $ 284 billion as part of the stimulus package adopted in December – and opened for applications earlier this month. Loans are available for new participants and some who have already received loans. “I would like to […]]]>

Delaware businesses can still take out the latest round of Paycheck Protection Program loans.

The PPP program received $ 284 billion as part of the stimulus package adopted in December – and opened for applications earlier this month. Loans are available for new participants and some who have already received loans.

“I would like to remind people, if you didn’t get a PPP loan in the first [round], that you can get one now by using the rules of the first round, ”said John Fleming, Delaware district manager at the US Small Business Administration.

Fleming says for the anecdote that his office receives fewer requests than the first time.

As of Jan. 24, 892 P3 loans had been approved in Delaware this year, for a total of $ 90,024,127, according to a recent SBA report. More than 12,500 loans have been approved in Delaware through June 30 of last year, for a total of nearly $ 1.5 billion.

“This time around, they’ve really targeted the industries most affected,” Fleming said. “So rather than giving money to almost every small business that applied, we have a targeted number. So there is not so much panic, not so much demand.

The final round of loans can be spent on payroll, as well as some operating costs and property damage.

Sen. Chris Coons (D-Delaware) says this year’s iteration of the program was designed with lessons learned from last year.

“It’s more targeted, it’s more accessible, especially for small businesses and more likely to be minority-owned businesses,” Coons said. “We have streamlined the application process.

PPP loans are canceled when applicants meet spending and employment requirements.

“Eighty to ninety percent of the loans we have received cancellation requests for have been fully canceled,” Fleming said. “A lot of times when I talk to small businesses in Delaware they’ll say, I don’t want another loan… I say, wait a minute, it’s a grant.”

The application period for PPP loans ends on March 31.

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Jayson Tatum mocks cold shots in Celtics loss: “I think I can’t do worse” https://guideglobal.com/jayson-tatum-mocks-cold-shots-in-celtics-loss-i-think-i-cant-do-worse/ https://guideglobal.com/jayson-tatum-mocks-cold-shots-in-celtics-loss-i-think-i-cant-do-worse/#respond Wed, 07 Apr 2021 23:17:22 +0000 https://guideglobal.com/jayson-tatum-mocks-cold-shots-in-celtics-loss-i-think-i-cant-do-worse/ Boston Celtics forward Jayson Tatum had one of the worst games of his career against the Milwaukee Bucks on Friday, finishing 2-for-18 with five points in Boston’s 119-112 loss. When asked by reporters on Saturday how to overcome poor performance, Tatum was generally stoic. “To be able to laugh about it,” he said. “I can’t […]]]>

Boston Celtics forward Jayson Tatum had one of the worst games of his career against the Milwaukee Bucks on Friday, finishing 2-for-18 with five points in Boston’s 119-112 loss.

When asked by reporters on Saturday how to overcome poor performance, Tatum was generally stoic.

“To be able to laugh about it,” he said. “I can’t do anything about it now, you just have to focus on the next game and whether you play good or bad, I think that’s always my way of approaching things. That’s just how I do it. ‘approaches. That’s how it is. “

Tatum has struggled in almost every area offensively. He missed floats, layups, midrange jumpers and 3 points. One of Tatum’s two “made” shots was only credited to him after Giannis Antetokounmpo accidentally slapped a dud for the Celtics chasing a rebound. Dribbling out of the pick-and-roll, Tatum punched straight into the teeth of the defense on several occasions – a strategy that didn’t pay off.

Luckily for Tatum, the Celtics play again on Sunday, this time an afternoon game against the Portland Trail Blazers. Tatum appreciates the opportunity to overcome his difficulties.

“It’s just about watching a movie,” Tatum said. “Look at what I could have done better yesterday and try to implement it for the next game, and that’s what I’ll try to do tomorrow. We play every other day, so you always have a chance to bounce back and forget about the last game.

After Friday’s loss, Brad Stevens told reporters Tatum’s misses – many of which were good shots – were “the least of my worries.” He reiterated his recklessness on Saturday.

“Yesterday he had a lot of the ball in the last five minutes of the game,” Stevens said. “We think he will always be able to do it. We just think he has a special makeup on him. On a night he struggles he can make a huge play – on a night he rolls he can make a huge play because he neither goes too high nor too low. He’s special, and that’s why I don’t lose sleep on nights like last night.

Stevens was asked if Tatum should learn to handle covers like Milwaukee’s – the Bucks fell back into the paint to prevent his workouts and tried to invade him by circling the screens. Even so, Tatum had a lot of good looks that fell at a healthy pace before the NBA break.

“He’s seen all of these covers before,” Stevens said. “Some nights it’s just not your night. He’s an unreal basketball player. This does not mean that every day the ball will go in at 60%, so at the end of the day he will look, what he already has, he will learn what to do and try to do it better next time. . One of the things I think all of these awesome guys understand is that every day isn’t your day. Sometimes you have to be able to learn, laugh about it, and move on.

Tatum said he got used to his own hype, as well as the criticism that followed when he was having a bad night.

“I think the most important thing is that I just want to try to win every day,” Tatum said. “It was the hardest part, I didn’t play well and we lost. I felt like I could have done more. But, honestly, I say it a lot. I hear it, but I don’t pay too much attention to it. People say good or bad, I never really let myself be bothered. So, we play tomorrow. I think I can’t do any worse so I think I’ll play better tomorrow.

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