Jimerson Firm

JANUARY 25, 2021

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

Loans 98

Loans Collateral Lender Construction 98

Burr Forman

AUGUST 31, 2021

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

Construction 40

Construction Government Manufacturing Education 40

Burr Forman

APRIL 1, 2021

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

Construction 76

Construction Manufacturing Banks Loans 76

Nerd Wallet

MARCH 21, 2022

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

Construction 102

Construction Personal loans Loans 102

UK debt collections

SEPTEMBER 21, 2021

Euler Hermes also found that a quarter (25%) of those in the energy sector and almost one in five (19%) of construction firms will be vulnerable in the coming years. Low interest rates on new loans also played a significant role, as did resilient profitability and significant efforts to keep cost pressures in check.”.

Manufacturing 22

Manufacturing Construction Government Bankruptcy 22

Credit Corp

SEPTEMBER 30, 2020

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

Lender 105

Lender Loans Government Construction 105

Troutman Sanders

MAY 4, 2022

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

Loans 52

Loans Construction Banks 52

Hudson Weir

SEPTEMBER 11, 2023

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

Loans 52

Loans Collateral Secured Creditor Unsecured Creditor 52

Account Recovery

SEPTEMBER 5, 2024

Our roots in construction and foodservice have expanded to include debt collection & recovery, wine/spirits, moving/storage, loyalty, legal, and long-term care verticals. Today, we are proud to serve over 50,000 customers in 10+ markets with industry-leading enterprise software and related services.

Acquisition 130

Acquisition Credit Unions Credit Unions Construction 130

PBWT

AUGUST 16, 2022

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

Debtor 65

Debtor Construction Collateral Lender 65

Troutman Sanders

APRIL 24, 2023

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

Loans 52

Loans Repossession Secured Creditor Construction 52

Credit Corp

JULY 8, 2020

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

Construction 95

Construction Loans Education Lender 95

Qualco

SEPTEMBER 12, 2023

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

Collateral 105

Collateral Financial Institution Collections Loans 105

Nexa Collect

APRIL 11, 2021

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

Collections 130

Collections Collection Agencies Collections Agency Construction 130

UK debt collections

MAY 4, 2022

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

Government 82

Government Construction Loans Creditors 82

UK debt collections

JUNE 26, 2023

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

Construction 59

Construction Retail Manufacturing Trade 59

UK debt collections

AUGUST 16, 2022

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

Manufacturing 96

Manufacturing Retail Government Construction 96

Troutman Sanders

SEPTEMBER 12, 2022

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

Lender 52

Lender Construction Loans Debtor 52

Nerd Wallet

MARCH 28, 2022

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

Construction 66

Construction Student loans Student Loans Loans 66

Burr Forman

OCTOBER 20, 2021

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

Banks 52

Banks Construction Debtor Creditors 52

UK debt collections

JULY 18, 2022

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

Construction 72

Construction Government Loans 72

Nexa Collect

DECEMBER 17, 2020

They will not overhaul something just for the sake of it but will seek constructive means to make things better in a way that includes their own mentality. Their attitude stems from confidence, ample education and a disillusionment with the society their parents helped create.

Credit Unions 130

Credit Unions Credit Unions Financial Institution Financial services 130

True Accord

AUGUST 25, 2020

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

Collections 94

Collections Financial Institution Banks Construction 94

FFGN COLLECT NY

SEPTEMBER 24, 2024

In certain industries like construction, 45-day payment terms easily extend to 90, 120 days, and longer. You can search if your client has recently taken loans and pledged assets to do so by searching the state’s database of UCC filings. An old friend once told me that a non-paying client is a hallucination !)

Collections 52

Collections Construction Lawyers Loans 52

Fico Collections

NOVEMBER 9, 2020

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

Lender 52

Lender Credit Bureau Loans Construction 52

Hudson Weir

FEBRUARY 28, 2023

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

Unsecured Creditor 52

Unsecured Creditor Secured Creditor Creditors Construction 52

UK debt collections

APRIL 26, 2021

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

Trade 59

Trade Construction Loans Government 59

Credit Corp

AUGUST 13, 2021

Someone in their early 20’s could already be two years into a really stable job and have an emergency fund saved while another could still be in college, taking classes, and dealing with massive student loan debt. From school loans to credit cards most people tie the knot with some kind of financial burden. Ignoring Debt.

Student Loans 76

Student Loans Student loans Banks Construction 76

Fraser

JUNE 25, 2020

For example, while the Bankruptcy Code allows for a DIP loan to prime the lien of an existing secured creditor, the secured creditor must receive “adequate protection” that its position will not be diminished as a result of the use of cash collateral or new financing. Walton, Jr.’s

Creditors 72

Creditors Bankruptcy Unsecured Creditor Debtor 72

ABI

JANUARY 22, 2023

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

Bankruptcy 40

Bankruptcy Debtor Construction Foreclosure 40

Fraser

JULY 21, 2020

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

Creditors 56

Creditors Bankruptcy Debtor Construction 56

UK debt collections

NOVEMBER 4, 2022

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

Creditors 52

Creditors Government Construction Loans 52

Hudson Weir

NOVEMBER 8, 2023

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

Construction 52

Construction Creditors Loans 52

Troutman Sanders

AUGUST 7, 2023

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

Financial services 52

Financial services Financial Institution Manufacturing Loans 52

Collection Industry News

DECEMBER 13, 2023

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

Retail 40

Retail Loans Credit Card Debt Construction 40

ABI

JANUARY 19, 2024

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

Secured Creditor 40

Secured Creditor Bankruptcy Debtor Collateral 40

ABI

JANUARY 13, 2021

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

Debtor 40

Debtor Bankruptcy Loans Construction 40