Loan detail – Tedxyouth Caltech http://tedxyouthcaltech.com/ Tue, 20 Sep 2022 21:24:39 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://tedxyouthcaltech.com/wp-content/uploads/2021/10/icon-5-120x120.png Loan detail – Tedxyouth Caltech http://tedxyouthcaltech.com/ 32 32 Government accused of aiding asset stripping of crisis rugby club Worcester Warriors https://tedxyouthcaltech.com/government-accused-of-aiding-asset-stripping-of-crisis-rugby-club-worcester-warriors/ Tue, 20 Sep 2022 20:59:12 +0000 https://tedxyouthcaltech.com/government-accused-of-aiding-asset-stripping-of-crisis-rugby-club-worcester-warriors/ EXCLUSIVE: Government accused of aiding asset stripping of crisis rugby club Worcester Warriors… after Sport England approved the transfer of ownership of their stadium to a new company which retains its revenue The government is accused of stripping the assets of the Worcester Warriors Sportsmail have learned details of a major change to Worcester’s rental […]]]>

EXCLUSIVE: Government accused of aiding asset stripping of crisis rugby club Worcester Warriors… after Sport England approved the transfer of ownership of their stadium to a new company which retains its revenue

  • The government is accused of stripping the assets of the Worcester Warriors
  • Sportsmail have learned details of a major change to Worcester’s rental
  • It seems that this extraordinary decision has jeopardized the plan to sell the club

The government is accused by some creditors of helping to strip Worcester Warriors assets, which has cast doubt on the future of the rugby club.

Sportsmail have learned details of a major change to Worcester’s tenancy at Sixways Stadium which was approved by state body Sport England last month, with owners Colin Goldring and Jason Whittingham transferring ownership of the ground to a new company which will keep the whole day of the club. , hospitality and sponsorship income.

It appears the extraordinary move has jeopardized the club’s proposed sale, threatened business livelihoods and put £15m of taxpayers’ money at risk.

Goldring and Whittingham appear to have legally separated the lucrative parts of Worcester into a separate company, Sixways Stadium Limited, leaving the rugby club to operate separately in a move approved by Sport England.

As a result, they were left without their main sources of income and no way to pay off debts of nearly £30million.

The owners tried to sell the club for most of the summer, but despite claims from interested parties, no deal was reached.

The government is accused by some creditors of helping to strip Worcester’s assets

The club owners have transferred ownership of the Sixways stadium to a new company

The club owners have transferred ownership of the Sixways stadium to a new company

Well-placed sources said yesterday that the process of securing a ‘rough’ legal agreement with the buyers has been hampered by the owners’ desire to retain a 15% stake.

The club’s home opener against Exeter last Sunday was in doubt until the 11th hour, and it is unclear whether they will be able to complete Saturday’s visit to Newcastle.

The Warriors can send a squad to face Gloucester at Kingsholm tonight in the Premiership Cup, but staff met yesterday to discuss the strike and the lack of a final decision leaves the league clash in doubt.

It is unclear whether Worcester Warriors will be able to complete Saturday's visit to Newcastle

It is unclear whether Worcester Warriors will be able to complete Saturday’s visit to Newcastle

Sport England’s involvement in Worcester’s financial affairs stems from the government’s £15million loan in February 2021 under its Covid-19 Sports Survival scheme.

It is understood that around £9million of the loan was used by the owners to pay off debts incurred when buying the club, as well as to secure full ownership of Sixways, which was later acquired by the company real estate owners.

To make Worcester’s plight worse, the terms of the lease were radically changed last month, with Sixways Stadium Ltd being granted the right to ‘hold hospitality events on the property at any time’ and ‘retain proceeds from sales “, according to documents seen by Courrier sportif.

The owners’ property company has also separated the stadium, training center and players’ car park from other land around the complex, which has been mortgaged by another company called Triangle Petroleum for £600,000, at an interest rate by 20%.

As main creditor, Sport England had to approve these changes and confirmed in a waiver signed last month that it retained the ‘first legal charge over Sixways Stadium Ltd’ for less than £14.65million.

A number of creditors have reportedly written to the government expressing their grievances, with one accusing Sport England of asset stripping.

“The club has not received any compensation from Sixways Stadium Ltd for the assignment of its lease,” writes the creditor. “It appears Sport England presided over the asset stripping.

Can Sport England explain why they thought it was in the best interests of the club and the taxpayer?

Sport England reportedly acknowledged receipt of the complainant’s letter, but did not respond in detail. They declined to comment when contacted by Sportsmail, but Whittingham responded by saying: “If you understood any of the genuine details regarding the transactions it would be a lot less interesting and grim.”

“The authentic detail would demonstrate that all actions have always been in the best interests of the club and the community. I will give an accurate version of events in due course.

Contacted by Sportsmail, Whittingham responded, saying: “If you understood any of the genuine details about the transactions it would be a lot less interesting and grim.”

“The authentic detail would demonstrate that all actions have always been in the best interests of the club and the community. I will give an accurate version of events in due course.

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Citrus County election complaint targets District 2 NPA candidate https://tedxyouthcaltech.com/citrus-county-election-complaint-targets-district-2-npa-candidate/ Sat, 17 Sep 2022 20:46:42 +0000 https://tedxyouthcaltech.com/citrus-county-election-complaint-targets-district-2-npa-candidate/ A Homosassa woman filed a complaint with the Florida Election Commission alleging that a candidate with no party affiliation participated in a Citrus County Commission race to block the primary. Barbara Flecher says in her complaint this Paul Grogan has not campaigned for District 2 outside of social media, does no fundraising, spends much of […]]]>

A Homosassa woman filed a complaint with the Florida Election Commission alleging that a candidate with no party affiliation participated in a Citrus County Commission race to block the primary.

Barbara Flecher says in her complaint this Paul Grogan has not campaigned for District 2 outside of social media, does no fundraising, spends much of the year outside the county, does not live in the district he wants to represent, and has openly supported the candidate who won the Republican primary.

Diane Finegan and Stacey Worthington faced off in the District 2 primary, which was closed only to Republican voters due to Grogan’s candidacy. Finegan won with 57% of the vote.

Finegan told the Citrus County Chronicle she would have won whether the primary was open to all voters or not.

Fletcher’s complaint, which she also sent to Citrus County Commissioners, the State’s Attorney’s Office and the Citrus County Sheriff’s Office, mentions a local blog, Just Wright Citrus, which questioned the validity of Grogan’s candidacy.

And it includes many screenshots of Grogan’s own postsrambling missives that lack detail or any conscious idea.

She noted that he had opened his campaign account with a loan of $2,700 to cover the application fee of $2,684. He only raised $25 from Paul Reinhardta failure House District 23 candidate.

Shortly before Primary, Grogan Finegan approved on his Facebook page, leading some Citrus County residents to openly question what they had quietly suspected: Grogan was only in the race to keep non-Republicans from voting in the contest between Finegan and Worthington.

Fletcher acknowledged in her complaint that she backed Worthington in the primary, but added: ‘My attention to the election may appear to be biased, however, I am of the opinion that it instead provided a place for the first to potential fraud perpetrated on my county and district.

Fletcher compared the Grogan case to lawsuits in Seminole County linked to a “ghost candidate”.

“…I assert that Mr. Grogan entered the race for County Commissioner, District 2, under false and fraudulent pretenses to prevent Democratic and NPA voters from participating in the primary election,” it said. she declared.

Grogan, a merchant sailor, is out of the county until October. Asked by text message to comment on the complaint, he said he was in the campaign to win.

“You can’t justify irrational comments with a rational person,” he said. “Let’s see if Barb knows something we don’t?”


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The Big Fed Rate Hike Is Coming Next Week, But That’s Not What Matters https://tedxyouthcaltech.com/the-big-fed-rate-hike-is-coming-next-week-but-thats-not-what-matters/ Fri, 16 Sep 2022 21:07:31 +0000 https://tedxyouthcaltech.com/the-big-fed-rate-hike-is-coming-next-week-but-thats-not-what-matters/ By this time next week, we will have heard the Fed announce the next rate hike on September 21. It will be big too. How big is a matter of debate. 0.75% is a safe starting point, but 1.00% will also be on the table. The first would correspond to the July increase, the largest […]]]>

By this time next week, we will have heard the Fed announce the next rate hike on September 21. It will be big too. How big is a matter of debate. 0.75% is a safe starting point, but 1.00% will also be on the table. The first would correspond to the July increase, the largest since 1994. A 1.00% increase has not been observed since 1982.

Desperate times call for desperate measures, and the Fed is desperate to fight the highest inflation in decades.

The Consumer Price Index (CPI) is the oldest and most widely followed measure of headline inflation in the United States. The Fed is targeting an inflation rate of 2.0% at the base level (orange line above). This mission was going as well as it ever had for most of the last 2 decades until Covid. For a variety of reasons, the Fed dragged its feet a bit in responding to the threat of post-covid inflation and has been trying to catch up ever since.

This “jostling” is evident in the financial markets. The typical reaction for stocks and bonds is to SELL SELL SELL when the Fed sends hostile messages. When traders sell bonds, rates rise. Stocks obviously fall when sellers are in control. The net effect looks like this:

20220916 stocks versus bonds lt.png

What precisely are the “hostile messages” and the “change in Fed policy outlook”? In January, the big wake-up call was the Fed’s clear communication that its rate hike schedule would unfold much faster than it did during the 2013-2018 tightening cycle. As Fed speakers made this increasingly clear through speeches and official policy communications, stocks and bonds continued to panic.

Once the market feels like it understands the Fed’s mindset, it doesn’t expect such rhetoric. If traders know the data the Fed is interested in, traders will react to the data itself. In the current case, things are quite straightforward as inflation has no other contender for the Fed’s attention. When this week’s CPI data came out hotter than expected, traders knew what to do.

20220916 stocks versus bonds st.png

Luckily for consumers, the data didn’t actually show much of an increase in overall monthly obligations – something best measured by the overall CPI as seen here:

20220916 monthly cpi.png

The title number includes all prices collected in the IPC report. It did not rise at all in July and rose only 0.1% in August. That’s the good news. The bad news is threefold. First, it was only as weak as it was due to lower fuel prices. Second, the Fed is focusing on the “core” CPI, which excludes food and energy.

We find the third piece of bad news in the data itself where core CPI largely defied forecasts, climbing 0.6% from expectations to hold steady at 0.3%.

20220916 core cpi pp.png

If you noticed that the percentages of the last 2 graphs are much smaller than the first graph, it is because they are monthly figures. The first graph is expressed in annual terms, and it is in these annual terms that the Fed would like to see core inflation around 2.0%. Obviously, if each month increased by 0.6%, that would leave us at 5.0% in annual terms! Hence the sense of urgency in the financial markets and the mounting expectations for a rate hike next week.

This is a good time to answer the main question “what really matters?” While it’s true that the market could see a lot of volatility next week if the Fed hikes 1.0% instead of 0.75%, traders have made much bigger changes to the Fed’s rate hike outlook. Fed for subsequent meetings.

How can traders alter the Fed’s rate hike outlook? They don’t, really. They simply make bets on where the fed funds rate will be after a given month’s Fed meeting. The following chart shows how those expectations have evolved over time for next week’s meeting as well as next December and June (there’s a lot going on in this chart and we’ll break it down in more detail below) .

20220916 nl1.png

Let’s break it down into steps:

1. Note that expectations for next week’s meeting haven’t really changed overall. A 0.75% rise was expected at 100% before the CPI data. There is now a 20-30% chance of a 1.00% upside.

2. Note that most of the big spikes in 2022 followed inflation reports. The beginning of August was an exception, mainly for the longer-term outlook, and there were good reasons for that (surprisingly strong economic data, which said less about short-term inflation and more about existing inflation resistance)

3. Note that traders have already seen the Fed climb to 4.0% at the end of the year before the CPI data and are now seeing at least 4.25% without relief by June 2023 Compare that to late July when the green line was below the orange line (i.e. traders saw the Fed Funds rate fall between December 2022 and June 2023).

Simply put, the market hoped for a favorable rate scenario at the end of July and has been forced into a sharp 180° turn since then, both on economic data and inflation reports. This week was just the latest example. This turned out to have had an outsized impact as it is a very uncertain time for inflation. Economists look for signs (and see them in some places) that inflation has turned a corner.

They were also worried about the possibility that these positive signs were just by-products of falling oil prices. This week’s basic CPI data indicates that the concern is valid. It doesn’t help that Fed speakers are in their blackout period (12 days without Fed speeches leading to an official policy statement) and almost all have said they will let the data determine the extent of the next increase.

But to reiterate, it’s still not the size of next week’s hike that matters most. What matters most (or at least more) in no particular order will be the Fed’s own rate hike outlook. This is conveyed as a dot chart in the Fed’s “Summary of Economic Projections” or SEP. The SEP is published at 2 p.m. with the announcement of the rate hike. This frequently moves the markets far more than anything in the announcement itself, and therefore frequently leads to the erroneous conclusion that the market is reacting to the Fed’s rate hike.

In the case of the current meeting, the rate hike actually has more driving force in the market than average due to uncertainty over the magnitude of the hike.

Mortgage rates and housing markets

Let’s connect the dots, briefly, to how this has impacted the mortgage market. Again, it is not the fed funds rate itself or the short-term outlook that matters as much as the longer-term outlook. The Fed also completely abandoned its bond-buying programs on September 15. Although this dagger in the heart has been planned for months, daggers still hurt. The Fed’s bond purchases had been a major source of downward pressure on rates until they began reducing their purchase amounts at the end of 2021.

20220916 sir.png

A few notes for anyone involved in the mortgage process these days:

First, note that rates first topped 6% in June and moved back above that line for most of September. Extensive media coverage of Freddie Mac’s weekly rate survey (which just rose above 6%) gave the mistaken impression that it was a new development. Even then, the high rates might not be as frustrating for some borrowers right now as the lack of “prime.”

Investors who buy mortgages pay historically prime (think of it as paying $310,000 on a $300,000 loan) and then expect to recoup that premium with interest over time. When rates have risen a lot and there’s even an ounce of hope that they might stabilize enough to trigger refinancing activity in the next few years, investors REALLY DON’T LIKE THE IDEA of paying that prime. This is one of the altruistic reasons for the now infamous “prepayment penalty” that existed before the regulations put in place after the financial crisis. In this environment, what would have been the prepayment penalty is now simply paid by borrowers up front in the form of higher closing costs.

All that to say that it is very difficult if not impossible to cover all the necessary upfront costs on some loan scenarios simply by raising the rate. In the past, increasing the rate got you more premium from the lender/investor. These days, that bounty doesn’t really exist, or it’s just too small to make sense. This will change over time, but rates will need to be lower and much less volatile.

Speaking of volatility, congratulations! You are living in a time that has not been seen in more than a generation with regard to the persistence of exceptionally high volatility (it was briefly a little higher for small periods of time in the past, such as March 2020, but it hasn’t been this high in over 40 years).

Last but not least, as a word on conforming loan limits. This is the maximum amount of a loan that can be granted to Fannie Mae or Freddie Mac, the two agencies that guarantee the majority of mortgage loans in the United States. Conforming loans are generally more desirable than others due to lower rates and streamlined, standardized underwriting processes. The amount is determined by Fannie and Freddie’s regulator, the FHFA (not to be confused with the FHA).

Conforming Lending Limits (CLL) increase every time house prices increase from Q3 to Q3. FHFA releases relevant third quarter data at the end of November, and loan limits go into effect for loans “delivered” to Fannie and Freddie beginning Jan. 1 (“delivery” may be weeks or even months after release). grant of a loan). For this reason, lenders have increasingly anticipated the expected changes in CLL. There is only one problem.

We do not yet have ANY third quarter 2022 home price data from the FHFA. Lenders are guessing price changes by then during a very volatile time. Several lenders have already pressed that trigger this year, much earlier than last year. The magic number seems to be 715k. If these lenders are willing to honor foreclosure commitments even if the official lending limit is lower, that is their business and should have no implication for borrowers or originators. The only point of this update is to clarify that the CLL HAS NOT BEEN MODIFIED YET. There are a few lenders struggling to guess what the change will be, but it won’t be officially announced until Tuesday, November 29.

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SoFi or LendingClub: which is the best stock to buy? (NYSE:LC) https://tedxyouthcaltech.com/sofi-or-lendingclub-which-is-the-best-stock-to-buy-nyselc/ Thu, 15 Sep 2022 11:45:00 +0000 https://tedxyouthcaltech.com/sofi-or-lendingclub-which-is-the-best-stock-to-buy-nyselc/ Melpomenem Sofia (NASDAQ: SOFI) and LendingClub (NYSE:LC) are similar because both are FinTechs that recently became banks. I’ve been an investor in LendingClub since 2020 and have followed its progress very closely and now it’s a important position in my portfolio. I also recently initiated a position at SoFi. In this article, I will compare […]]]>

Melpomenem

Sofia (NASDAQ: SOFI) and LendingClub (NYSE:LC) are similar because both are FinTechs that recently became banks. I’ve been an investor in LendingClub since 2020 and have followed its progress very closely and now it’s a important position in my portfolio. I also recently initiated a position at SoFi.

In this article, I will compare and contrast the two companies. There are many similarities (personal loans) but also marked differences in strategy, business operations and financial aspects. Ultimately, I hope this helps investors make a more informed decision on the best stock to own right now.

Insight

loan club

LC is a digital marketplace bank. It became a nationally licensed bank through the acquisition of Radius Bank completed in early 2021. The engine of its business is providing personal loans through its marketplace. The primary use case for LC personal loans is credit card refinancing and debt consolidation. The benefits for customers are lower interest rates and a better credit score. LC typically retains around 25% of the assets it generates in the market and the rest is sold to investors (banks, asset managers, hedge funds, etc.). LC holds other loan assets such as mortgages, auto loans as well as some commercial loans (inherited as part of the Radius Bank acquisition) but overall these loan assets are somewhat intangible , LC is really a personal lender and marketplace. Currently, around 60% of income is generated by the market and the remaining 40% is interest income from loans held on the balance sheet.

SoFi

SoFi’s origins are as student loan refinancers. Currently has three business segments loan, technology platform and financial services. It is a much more diversified FinTech/digital bank than LC.

On the lending side, SoFi has expanded its lending strategy to offer home loans, personal loans, and credit cards. On the non-lending financial product side, it offers products such as money management and investment product offerings.

In the technology division, SoFi operates as a platform as a service for a variety of financial service providers, providing the infrastructure to facilitate core customer-facing and backend capabilities, such as account setup, account funding, direct deposit, authorizations and processing, payment functionality and checking account balance functionality through the acquisition of Galileo. Most recently, SoFi expanded its platform to include a cloud-native digital and core banking platform with customers in Latin America through its acquisition of Technisys SA, enabling the company to expand its platform services. technological form to a wider international market.

Significantly in 2022, the company became a bank holding company and began operating as SoFi Bank through its acquisition of Golden Pacific Bancorp, Inc.

SoFi vs. LendingClub

At first glance, the similarities and differences are obvious. Both companies are digitally driven and create, maintain and distribute loan assets. Both companies are also nationally regulated depository institutions and banks.

The differences are also obvious. LC is much more narrowly focused on the full spectrum of personal loan market opportunities. Whereas SoFi’s scope is much more of a multi-product or “super-app” approach. It also operates as a banking as a service for other financial companies, which is already a large and growing part of its business.

But to make an informed decision about the best investment, we need to dig into the details.

Selected key indicators

The table below provides a comparative summary of key metrics for SoFi and LC:

Selected key indicators

Author based on company filings

I’ll draw a few key observations for now:

  • Both companies have similar quarterly earnings and members; however, LC is profitable on a GAAP basis while SoFi is loss-making.
  • SoFi’s market cap is around 3.5x LC, but it’s also proportional to the relative equity base.
  • LC’s capital ratios are significantly lower and close to its 11% minimum requirement for Tier 1 leverage, meaning capital is much more constrained compared to SoFi.

What drives profitability?

Let’s start with SoFi with Q2’2022 results.

EBIDTA by business segment

SoFi Investor Relations

As can be seen above, the majority of revenue and Adjusted EBITDA comes from its lending segment. Financial Services EBITDA contributes about $54 million in losses and the Technology segment contributes about $22 million.

The lending segment is also directly comparable to LC’s core business, so I will focus on that segment and compare it to LC. Note that the numbers above are Adjusted EBITDA and currently generate an overall net loss of $93 million in Q2 2022 (primarily due to stock-based compensation and amortization costs) .

Comparison of SoFi and LC Lending Segments

Digital creations are the lifeblood of both companies.

I’ve summarized some of the key metrics for SoFi and LC below:

Lending Metrics

Author – corporate filing

I will make several observations on the table above:

  • LC originations are higher than SoFi but the latter retains more assets on the balance sheet. This is not surprising given that SoFi has plenty of excess capital to deploy for asset generation. LC is limited in capital.
  • Note that LC arrangements are almost all personal loans. While for SoFi, the figure is around 2.5 billion out of 3.2 billion.
  • SoFi originations are impacted by the suspension of student loan repayments. It is likely to increase significantly in 2023 when the moratorium expires.
  • LC’s gross yield on personal loans is significantly higher than SoFi’s. Although the average FICO score for SoFi is slightly higher. This suggests that the risk-adjusted returns of LC loans are significantly higher than those of SoFi.
  • SoFi’s average gross student loan yield is currently a modest 4.08%. Nowhere is the student loan business as profitable as the personal loan space.

A qualitative assessment of the relative investment case in SoFi and LC

Basically, LC and SoFi pursue different strategic paths even though the end destination may be similar.

LC currently focuses almost solely on the unsecured loan product. There are two main reasons for this. This product generates exceptional financial returns for LC, as evidenced by its increased profitability under GAAP. The highest returns are generated by keeping the loan assets on LC’s balance sheet (up to 3 times the returns from selling to investors). However, LC is also limited by its relatively low capital buffer. As such, LC’s management team has chosen to prioritize the growth of the unsecured loan portfolio currently. In order to grow the book, LC must increase its profits and redeploy capital into the business. This forces the management team to be very financially disciplined as well as slow the pace of investments in a multi-product roadmap. I believe this was a conscious decision that the LC management team made. However, in the medium term, it is clear that LC’s strategy is a multi-product strategy comprising credit, deposit, insurance and savings/wealth management products. The anchor product, however, will remain the unsecured loan product.

SoFi, on the other hand, has taken the super-app route with substantial investments in multi-product development and inorganic acquisitions. GAAP profitability is not currently a focus, instead focusing on contribution margins and adjusted EBITDA metrics pointing in the right direction. SoFi’s true earning potential is somewhat masked by a number of aspects. First, it only recently became a bank, which would allow it to keep more assets on the balance sheet and improve its cost of funding. Currently it uses expensive warehouse lines which should be replaced with cheaper depots.

Second, somewhat handicapped by the student loan moratorium, student loan originations are expected to rebound strongly in 2023 and beyond. That said, SoFi continues to invest heavily as well as a very high rate of equity compensation. While I expect it to improve its GAAP financial statements over time, the trajectory is not yet clear. Yet it has substantial excess capital to deploy to keep on the balance sheet, which should enable it to drive scale and profitability in the medium term.

Clearly, however, the most profitable line of business for both companies is the personal loan segment. In my opinion, LC has a clear advantage in this area. It comes from higher volumes, which leads to marketing effectiveness and a much better gross return while FICO scores are only slightly lower. LC has also proven during the recent pandemic that its credit risk models are super efficient, generating 30% higher loan losses than the industry. I suspect LC’s risk-adjusted returns are industry-leading and it continues to push its edge.

Final Thoughts

I recently initiated a position at SoFi. The valuation is undemanding and there is a purchase option (virtually free) in its Technology division (banking as a BaaS service). SoFi is growing rapidly and this should allow it to reach profitability in a reasonable timeframe, especially as some of the headwinds subside and it capitalizes on its status as a bank. That said, I am aware of the apparent lack of financial discipline and especially the high dilutive cost of equity compensation.

My biggest position is in LendingClub and I’ve written several articles about it. The key attraction is the exceptional returns it generates from its market and the loans it keeps on the balance sheet. There are pros and cons to the almost singular focus on the unsecured loan product. Returns are exceptionally high, but because they are limited by a thin capital pool, they delay further monetization of the customer lifecycle. The risk is that the likes of SoFi will cement a first-mover advantage as a convenient, user-friendly financial super-app. I believe this is a conscious decision by the LC management team. At present, they are determined to prioritize balance sheet and earnings growth and thereby create capacity for additional investments.

In my view, both stocks are exceptionally good value at current prices. I have a preference for LC given the clear trajectory of GAAP profitability and its competitive advantage in the lucrative personal loan industry.

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Pawn Shop Market Quality and Quantity Analysis | FirstCash, Big Pawn, EZCorp, PAWNGO, UltraPawn, American Jewelry and Loan https://tedxyouthcaltech.com/pawn-shop-market-quality-and-quantity-analysis-firstcash-big-pawn-ezcorp-pawngo-ultrapawn-american-jewelry-and-loan/ Sat, 10 Sep 2022 19:22:36 +0000 https://tedxyouthcaltech.com/pawn-shop-market-quality-and-quantity-analysis-firstcash-big-pawn-ezcorp-pawngo-ultrapawn-american-jewelry-and-loan/ Pawn Shop Market is the title of a professional market research to assess the growth potential of the market. The main objective of the research should have been to provide fundamental information about the industry rivals, current market trends, market potential, growth rate, along with other relevant data. The study will examine the global Pawn […]]]>

Pawn Shop Market is the title of a professional market research to assess the growth potential of the market. The main objective of the research should have been to provide fundamental information about the industry rivals, current market trends, market potential, growth rate, along with other relevant data.

The study will examine the global Pawn Shop market in terms of its current status as well as its future potential. Separate chapters on regional studies, along with annual growth forecasts for the survey period from 2022 to 2028, are included to help readers better understand the long-term prospects of the markets. The research examines the most significant barriers to market expansion as well as the long-term growth potential of the global pawnshop industry. This page currently covers expansion plans and procedures, growth forecasts, production methods and cost structures.

DOWNLOAD FREE SAMPLE REPORT: jcmarketresearch.com/report-details/1471189/sample

Additionally, the report includes data on the market shares of the top 10 companies so that companies/companies intending to enter the market can assess where they stand against major competitors and adjust their strategy accordingly. .

This research examines a number of geographically significant regions:
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia, Italy and rest of Europe)
• Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
• South America (Brazil, Argentina, Colombia and rest of South America)
• Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa and Rest of Middle East and Africa)

The segmentation covered in this report is:
Segment by Type – Consumer Lending – Used Goods Retail – Appraisal of Items for Purchase or Pawn Segment by Application – Personal – Commercial

The following manufacturers were found, according to the study report.
FirstCash, Big Pawn, EZCorp, PAWNGO, UltraPawn, American Jewelry and Loan, Browns Family Jewelers, New Bond Street Pawnbrokers, Borro, Big Store Pawn Shop, Buckeye Pawn Shop, Welsh Pawn

ACCESS FULL REPORT: jcmarketresearch.com/report-details/1471189/Pawn-Shop

Overall growth patterns, industry growth prospects, and competitive assessments are all studied in depth. Porter’s Five Forces SWOT analysis is used to further assess the strengths, weaknesses, opportunities and threats of the global Pawn Shop market. Current market trends, development potential, regional assessments, strategic concepts and developing segments in Pawn Shop have all been examined in this report.

Contact us: https://jcmarketresearch.com/contact-us

Mark Baxter (Business Development Manager)

Phone: +1 (925) 478-7203

Email: sales@jcmarketresearch.com

Join us on LinkedIn

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Higher interest rates are a trap for bank stocks https://tedxyouthcaltech.com/higher-interest-rates-are-a-trap-for-bank-stocks/ Fri, 09 Sep 2022 12:27:00 +0000 https://tedxyouthcaltech.com/higher-interest-rates-are-a-trap-for-bank-stocks/ Text size Banks are in a much stronger financial position than a dozen years ago. Photograph by Hector Retamal/AFP/Getty Images Banks have proven their durability time and time again since the pandemic, but making outsized gains in banking stocks requires a healthy consumer — and that could get tougher. Understanding what is happening with banking […]]]>

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Big 5 bank loan programs for black entrepreneurs get off to a slow start https://tedxyouthcaltech.com/big-5-bank-loan-programs-for-black-entrepreneurs-get-off-to-a-slow-start/ Tue, 06 Sep 2022 21:23:30 +0000 https://tedxyouthcaltech.com/big-5-bank-loan-programs-for-black-entrepreneurs-get-off-to-a-slow-start/ Lisa-Ann Geddes, owner of Vegan Delights restaurant in Whitby, Ont., initially approached another bank for a loan to open her new location, but became frustrated with their process. She then applied to the CIBC Black Entrepreneur Program in July.Christopher Katsarov/The Globe and Mail Black entrepreneur loan programs at Canada’s big five banks have gotten off […]]]>

Lisa-Ann Geddes, owner of Vegan Delights restaurant in Whitby, Ont., initially approached another bank for a loan to open her new location, but became frustrated with their process. She then applied to the CIBC Black Entrepreneur Program in July.Christopher Katsarov/The Globe and Mail

Black entrepreneur loan programs at Canada’s big five banks have gotten off to a slow start, with institutions reporting they have approved few loans this year.

In the wake of the 2020 murder of George Floyd – a black man murdered by a white police officer in Minnesota – banks, the federal government and black business organizations have been discussing for months how to increase funding for black entrepreneurs , who disproportionately face systemic barriers to accessing capital. All parties nearly came together to form a new national lending initiative, but by the summer of 2021 the banks had retreated to design and run their own programs.

A new non-profit organization, the Federation of African-Canadian Economics (FACE), now administers the Black Entrepreneurship Loan Fund, the federal program.

Four banks – Bank of Montreal BMO-T in October, Canadian Imperial Bank of Commerce CM-T in January, Royal Bank of Canada RY-T in February and Bank of Nova Scotia BNS-T in June – launched loan programs to black contractors similar to the federal. The Toronto-Dominion Bank is expected to launch its own in the coming months.

However, the banks have come under fire from some black entrepreneurs over a lack of transparency about how these loans differ from banks’ other lending products and whether loans were actually made under their programs.

The Globe and Mail contacted each bank about the status of their programs. For the most part, the banks provided very few details.

BMO said it received nearly 100 applications from black contractors and approved several, although it declined to say how many. He also refused to provide interviews to anyone at the bank or to customers.

“We have received applications from interested entrepreneurs across the country and the approved loans represent a wide range of businesses representing a wide range of the economy, including the retail, service and transportation sectors and logistics,” BMO spokeswoman Kate Simandl said in an email. -mail.

CIBC would not give figures on its program. However, the bank and the Black Opportunity Fund – a nonprofit that works with CIBC and other institutions on how they work with black clients – connected The Globe with four black entrepreneurs who had received a loan or were in the final stages. of the application process.

Lisa-Ann Geddes, owner of Vegan Delights restaurant in Whitby, Ontario, is one such entrepreneur. She ran a take-out and plant-based restaurant-focused bistro in northern Ontario for seven years before moving south in March.

She said she originally approached another bank for a loan to open her new location, but became frustrated with their process. She then applied to the CIBC Black Entrepreneur Program in July. She said the experience was completely different and her loan officer was very responsive to her questions. She said she received a loan from the bank at the end of July and opened her restaurant last week.

“They were extremely helpful,” Ms Geddes said.

Austin Walters, senior director of inclusive client strategy at CIBC and head of their Black Entrepreneur Lending Program, described the program’s debut in January as a soft launch, with a full launch scheduled for this month.

The CIBC program offers 10-year loans ranging from $5,000 to $250,000 for equipment and leasehold improvements, and two-year loans ranging from $5,000 to $100,000 for working capital .

Mr. Walters said the bank had learned and adjusted its program over the past eight months in response to feedback from applicants. For example, he said, the bank is considering extending the term of its working capital loan and allowing applicants to pay interest only for the first year.

He said CIBC has also assembled a team of more than 50 people who work exclusively with black clients.

RBC declined to give many details about its lending program, but said it had “engaged” with thousands of black clients and entrepreneurs this year.

Greg Grice, executive vice president of corporate financial services at RBC, said in a statement that the bank is currently focused on providing business training and educational workshops to black entrepreneurs on topics such as managing cash flows. Treasury.

Scotiabank said it was too early to comment on its program, which launched this summer.

TD, which last year unveiled a strategy to improve customer service for black customers, said it would have more to announce in the coming months.

Many banks are working on their initiatives with the Black Opportunity Fund (BOF), an organization created in 2020 by a group of Black Bay Street executives.

Craig Wellington, executive director of BOF, said his group’s goal is to identify barriers that prevent black business owners from obtaining financing and to help them overcome these issues.

Progress on banks’ programs may seem slow, he said, but that’s only because of the time it takes to work with entrepreneurs to ensure their businesses are at a stage where they can make the most of it. financing.

He said many business owners had applied for funding before they were ready, and that was part of the reason for the high rejection rate of the government-funded Black Entrepreneurship Loan Fund.

He said he also saw banks making changes such as, in some cases, waiving personal guarantees required by borrowers. This is a hurdle that is statistically more likely to affect Black business owners, due to a lower ownership rate.

“We are confident in saying that the experience with banks for loans two years ago is very different from what it is today,” Mr Wellington said.

But many black entrepreneurs who spoke to The Globe say the criteria for granting loans under these programs aren’t always clear — especially not what differentiates them from the bank’s regular loan programs.

Grantley Othneil Adams, president of Lyve Lending Group, an Ottawa-based fintech that helps businesses find unsecured loans, said it was disappointing how little information banks would share about details and results. of their black entrepreneur loan programs.

“It’s a matter of trust,” he said. “I want to see transparency. I want to see numbers, in terms of the number of applications received and what percentage of them are approved and what percentage of them are refused. … I don’t know why these things are hidden.

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The Hyson family scrupulously uses the library https://tedxyouthcaltech.com/the-hyson-family-scrupulously-uses-the-library/ Mon, 05 Sep 2022 13:00:00 +0000 https://tedxyouthcaltech.com/the-hyson-family-scrupulously-uses-the-library/ Friday afternoon, Jennifer Hyson and her three sons joined me at club headquarters after school (aka the upstairs community room). Jennifer, 41, grew up in Boothbay and her first memories of visiting the library were marked by a sense of independence. “I must have been around 8 years old because I remember I was at […]]]>

Friday afternoon, Jennifer Hyson and her three sons joined me at club headquarters after school (aka the upstairs community room). Jennifer, 41, grew up in Boothbay and her first memories of visiting the library were marked by a sense of independence.

“I must have been around 8 years old because I remember I was at that age where I had my own library card and I could put out my own books. I really enjoyed that, being able to have my own card and feel like a big kid,” she laughs. I ask about her favorite childhood book and after a pause she says “The Purple Crayon”. Miles sits up “Oh, I love the pencil book!” and Eli echoes “Yes! I love this book!” Jennifer looks at the title of the book because Miles reminds her “There are a lot of pencil books”. “Harold and the purple pencil,” she confirms.

Jennifer is a speech therapist in the AOS 98 school system and enjoys gardening, crosswords, cooking – especially baking – and reading. She visits BHML to consult books for the pleasure of reading: “I like to have something that I read just for pleasure. I use [BHML’s collection], but I really like the interlibrary loan option – having all these books – if there’s one I want and it’s not available here and I know I can get it. Hyson has dabbled in e-books and audiobooks, but mostly sticks to a good old-fashioned book as a welcome break from screens.

Jennifer has always brought her family to the library. “I don’t remember not bringing them to the library!” I remember coming to DIY. We would – we still do – story time at the Farmers Market. We go to the Farmers Market and buy something and then sit and listen to the story… We did Chalk On the Hill when they had the Fishermen’s Festival… and when you have special events, like I remember thinking I was crazy when we came to a reptile program, because I don’t like snakes…and there were snakes! The kids loved it, but I was like “I don’t know why I’m going!” Jennifer laughs. “I did fine,” and her youngest son Eli confirms, “You didn’t pass out, you didn’t pass out.”

I asked the boys about their earliest memories of coming to the library. Cole, 13, says: “I just remember coming by often and always having to find a new series to read, because I burn through them so quickly. I also remember finding that I needed – if it was a shorter book – I would have to take four home because I had finished them in a few weeks before I could come back. Cole reads a lot of sci-fi and fantasy, and adds “I’ve always liked books that have movies or shows because I watch the show and read the book and then I can get mad at the show or the movie because they didn’t. I have my favorite detail.

Miles, 11, remembers old summer reading challenges. “I remember going out and hugging a tree for one of the challenges, it was kind of weird, but it was kind of fun. And I remember when I won a prize, it was really exciting Miles loves arts and crafts and is a regular at the Drop-In Chess Club.

When I turn to Eli to ask about an early memory, he quickly replies, “I’m only eight! We all laugh. Fair enough. So let’s move on to the books. Eli shares that he loves the Elephant and Piggie series; and he particularly approves of the author’s use of onomatopoeia. As for where this crew likes to read a good book: Eli likes to read in the car, Miles likes to lounge and read in front of the air conditioner when it’s hot, and Cole shares that he used to read a lot in the closet, to which Eli exclaims “In your closet?!” Cole now likes to read in bed and tries to put the book down before going to sleep, as he has already woken up with a book on his head.

About the library, Jennifer says, “It’s an untapped resource for a lot of people that we’re lucky to have. I love interlibrary loan, but there’s so much beyond that. Eli loved the LEGO Club before it ended, which has nothing to do with reading; most people think of the library as just getting books. There is something for the kids to do after school. Miles likes the chess club; neither of us play chess at home, so it gives him the opportunity to develop his skills and meet new people… There aren’t many places where everyone’s needs can be met. We all come, and we all find our books at different levels, and activities for our different interests. It’s so much more than people think. Jennifer adds, “The other thing is I’m sure not all libraries are like this, but kudos to the staff, because I feel like it’s like a family, an extension of your family. . When Miles was really interested in these history books, they looked into them and decided to get them because we were taking them off interlibrary loan so much; therefore the receptivity to listen to children’s thoughts and needs, and what interests them, and to greet them when they arrive; this makes them super comfortable.

When I asked the Hysons if they would like to live in a community without a library, the boys all looked shocked and appalled, “No.” “Nope!” With a shaking head, Miles laments dramatically: “Chess club! What would I do? I could hardly have known how to play! Or become the chess player I am now or be able to teach Uncle Trent…”

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Give love and light | Shehr https://tedxyouthcaltech.com/give-love-and-light-shehr/ Sun, 04 Sep 2022 00:16:43 +0000 https://tedxyouthcaltech.com/give-love-and-light-shehr/ mina*, 25, joined the Pakistan Society for the Rehabilitation of Persons with Disabilities (PSRD) at the age of five. She came from a poor family and suffered at the time from a walking disability due to poliomyelitis. After an initial assessment of her financial situation, Amina was admitted to the school. The administration provided him […]]]>

mina*, 25, joined the Pakistan Society for the Rehabilitation of Persons with Disabilities (PSRD) at the age of five. She came from a poor family and suffered at the time from a walking disability due to poliomyelitis. After an initial assessment of her financial situation, Amina was admitted to the school. The administration provided him with a free pick up facility as per their policy for all students. She graduated from high school ten years ago and completed basic computer training at the PSRD Computer Center. Amina was eventually offered a job with a private sector company. Now married, mother of a one-year-old boy, she lives comfortably with her husband. She says she doesn’t want publicity for herself. However, she wants the world to know her story to pay tribute to the institution that facilitated her rehabilitation and gave her the opportunity to excel in life. She says there are many cases of extremely poor and physically handicapped people who are well receiving assistance from the PSRD.

Dr. Numan Zakaria, Administrator of the PSRD Hospital, explains that physical disability can result from a birth defect, injury or disease. It can also be due to exposure to viruses like poliomyelitis. He says people with disabilities often remain outside the mainstream of the economy, mainly because of their restricted mobility. “They can perform many tasks if their mobility is improved through surgery and physiotherapy. They can also receive vocational training so that instead of becoming a burden on society, they can contribute their share to the family income.

This orthopedic hospital treats all patients without any discrimination. Of the 1,920 surgeries performed in 2020-21, 470 were major; 387 medium; and 1,063 minors. There were 434 free surgeries, including 132 major surgeries. 1,438 surgeries were subsidized. Only two patients could afford and had to pay the full cost of treatment.

The hospital’s physiotherapy center is well equipped with modern gadgets. It is led by qualified physiotherapists. They offer the best treatment to patients and schoolchildren suffering from different musculoskeletal and neurological impairments, traumas and other postoperative conditions. The center is accessible to all students of the PSRD school. Category E students benefit from free services.

The orthotics and prosthetics center manufactured and delivered 3,630 devices, including upper and lower limb prostheses, splints and braces, and orthopedic shoes. Silicone articles, hyperextensions and lumbosacral corsets are also provided to patients.

Occupational therapy and speech therapy play a key role in the rehabilitation of people with disabilities. School-based occupational therapy at PSRD School involves therapists who provide assessment and therapy in classrooms, producing orthotics and adaptive equipment for patients. An inclusive adaptive bathroom provides toilet training for patients.

Student assessment and screening is done by expert speech therapists. Modification of speaking session rooms is undertaken in accordance with therapy protocols.

According to a recent World Bank report, approximately one billion people worldwide suffer from various disabilities. This represents nearly 15% of the world’s population. The report states that people with disabilities are more likely to experience adverse socio-economic outcomes such as less education, poorer health outcomes, lower levels of employment and higher poverty rates. Poverty can increase the risk of disability through malnutrition, insufficient access to education and health care, unsafe working conditions, a polluted environment, and lack of access to clean water and sanitation. sanitation. Disability can also increase the risk of poverty, due to lack of employment and education opportunities, lower wages and higher cost of living with a disability.

The pride of the PSRD is its school. Children are taught to believe in themselves. The school provides free education, free books, transportation, uniform, and nutrition to all of its students.

Disability statistics in Pakistan are murky. In the 1998 population census, people with disabilities represented 2.49% of the total population. The Sixth Population Census held in 2017 estimated that only 0.48% of the country’s population was disabled, far less than in the 1998 census. How this decline in disability occurred remains unexplained. .

The National Database and Registration Authority, based on its CNIC data, reports that the number of disabled people in Pakistan is 371,833, of whom 31,914 are mentally ill. But if we calculate the disability based on the 2017 census, the number of people with disabilities is about 1.1 million, which is almost three times higher than the NADRA record. Some social work institutions claim that at least seven million people with disabilities (PWD) are forced to stay at home as they do not have access to wheelchairs in Pakistan. This figure is even higher than the disability statistics from the 1998 census.

The PSRD is perhaps the only institution that offers a comprehensive solution to the problems faced by a physically disabled person in a complex. It runs an orthopedic hospital with about 100 beds where medical specialists perform minor and complicated surgeries. After assessing their socio-economic status, a patient is classified into one of five categories. Category A patients can pay all fees, and category E enjoys free hospital treatment, free schooling (if the patient is a child), free physiotherapy, training vocational training and free computer courses.

Madiha Maqsood, head of speech therapy at the PSRD cites the example of Mohammad, a three-and-a-half-year-old child who came to speech therapy. He was diagnosed with expressive language delay with echolalia. Intensive speech therapy was recommended to him because he was unable to express his wants and needs through language. Two speech therapy sessions per week were designed. Vocabulary enhancement techniques were used. Gradually he was able to use expressive language. Now he is able to make sentences and speak fluently. It can also track complex orders and make requests and comments. Speech therapy had 85% accurate results.

The PSRD has brought about a significant change in the lives of many disadvantaged women and children in the village through community-based rehabilitation. CBR staff, since 1993, have been conducting regular surveys in several villages, raising awareness about cleanliness and medical rehabilitation, providing clinical physiotherapy, coordinating case studies on their patients’ problems, and arranging wheelchairs or d other devices for patients.

The PSRD has its own Vocational Rehabilitation Centre, which provides interest-free micro-loans to deserving adults with disabilities to start their own businesses. Since the start of the program, Rs 26.5 million loans have been disbursed to 965 people. The recovery rate was 98.64%.

Muhammad Murad, a 25-year-old resident of Mughalpura, Lahore, was physically disabled, needed a walker to get around and had to support four family members. He had faced this situation since birth. However, he was determined to do something for himself and not become dependent on anyone. He passed his intermediate exams and obtained a diploma in cell phone repair. However, he only earned Rs 10,000 per month which was not enough to make ends meet.

Luckily, he heard about the PSRD loan program and went to their vocational rehabilitation center to apply for a loan to open his own shop. After the necessary documentation and verification, he got a loan of Rs 50,000. He is now earning about Rs 30,000 per month and repaying the loan.

The company also houses a skills development center and a vocational training center, in addition to a state-of-the-art IT training center. These train patients according to their individual abilities to integrate them into the economic mainstream.

The pride of the PSRD is its school. Children learn to believe in themselves. The school provides free education, free books, transportation, uniform, and nutrition to all of its students. The success rate of the school’s students at enrollment remains high. Last year, the pass rate was 94%. Lately, PSRD launched its College of Rehabilitation Sciences to produce quality human resources for the rehabilitation of persons with disabilities.

*Name has been changed to protect identity.


The author is a leading economic journalist

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Jurgen Klopp speaks out on Arthur transfer – unavailable vs Everton – Liverpool FC https://tedxyouthcaltech.com/jurgen-klopp-speaks-out-on-arthur-transfer-unavailable-vs-everton-liverpool-fc/ Fri, 02 Sep 2022 13:00:50 +0000 https://tedxyouthcaltech.com/jurgen-klopp-speaks-out-on-arthur-transfer-unavailable-vs-everton-liverpool-fc/ Jurgen Klopp has explained why Liverpool decided to sign Arthur on loan from Juventus on transfer deadline day, and revealed why he is unlikely to be available to face Everton on Saturday. The Brazilian arrives with a number of Liverpool midfielders currently sidelined, with captain Jordan Henderson the most recent to suffer a problem in […]]]>

Jurgen Klopp has explained why Liverpool decided to sign Arthur on loan from Juventus on transfer deadline day, and revealed why he is unlikely to be available to face Everton on Saturday.

The Brazilian arrives with a number of Liverpool midfielders currently sidelined, with captain Jordan Henderson the most recent to suffer a problem in Wednesday’s win over Newcastle.

It was this injury that would have forced Liverpool’s hand on deadline day, with the addition of Arthur adding much-needed cover in midfield.

Despite reports to the contrary, Arthur isn’t injured but Klopp says he doesn’t expect to be able to call on the Brazilian as he hasn’t received international clearance yet.

“First and foremost, really happy with this transfer,” he said.

“My information is that international customs clearance will not take place until tomorrow. We all hope he does well for Napoli [next Wednesday].”

The Liverpool boss went on to detail why he thinks Arthur is the right player to add to the Reds’ midfield ranks.

Having missed out on first-choice midfield target Aurelien Tchouameni at Real Madrid earlier this summer, Liverpool were reluctant to move for an alternative, with Klopp saying they would only move for “the right player”.

However, the situation changed when injuries to Liverpool’s midfield started piling up, and Klopp believes Arthur is the perfect fit.

“He’s a very good footballer, I think we all agree on that,” Klopp continued.

“He’s already had a very exciting career and he’s still quite young. He is entering the best age for a footballer.

“He can set pace, he’s a really good passer, he has speed with the ball, is safe on the ball and can demand pace which is quite important, really good in tight areas and all those kinds of things, so I really like it.

“Why can you loan out a player like this? Because it didn’t work 100% at Juventus, but I see it as a positive because the potential is still there.

“Obviously we play differently to Juve and we all thought it could fit very well, so that’s why I’m delighted.”

The deal is initially seen as a short-term fix, but the Reds have the option of making the deal permanent at the end of the season, with a statement from Juventus revealing a £32m option to buy .

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