Working Capital – 911 Police Aid Foundation http://911policeaidfoundation.org/ Thu, 29 Sep 2022 00:36:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://911policeaidfoundation.org/wp-content/uploads/2021/06/icon.png Working Capital – 911 Police Aid Foundation http://911policeaidfoundation.org/ 32 32 Suvo Strategic Minerals Ltd invests in green HPA technology https://911policeaidfoundation.org/suvo-strategic-minerals-ltd-invests-in-green-hpa-technology/ Thu, 29 Sep 2022 00:36:00 +0000 https://911policeaidfoundation.org/suvo-strategic-minerals-ltd-invests-in-green-hpa-technology/ Suvo Strategic Minerals Ltd (ASX: SUV) has signed a binding subscription and option agreement to acquire a 26% stake in Dingo HPA Pty Ltd, an Australian proprietary company aiming to produce high purity alumina (HPA) from recycled raw materials. A private placement will see SUV acquire 220,000 fully paid common shares of Dingo, at an […]]]>

Suvo Strategic Minerals Ltd (ASX: SUV) has signed a binding subscription and option agreement to acquire a 26% stake in Dingo HPA Pty Ltd, an Australian proprietary company aiming to produce high purity alumina (HPA) from recycled raw materials.

A private placement will see SUV acquire 220,000 fully paid common shares of Dingo, at an issue price of $1.00 per share.

In addition to the placement, Dingo grants Suvo a clear path to acquire up to 76% of the company’s issued capital.

This transaction offers the company the opportunity to develop a new green HPA process, delivering significant environmental benefits through a closed-loop recycling process.

Notably, the global HPA market was valued at USD 1.3 billion in 2019 and is projected to reach USD 4.8 billion by 2026, growing at a CAGR of 20.7%.

“Resilient and durable product”

Suvo’s Executive Chairman, Henk Ludik, said: “The decision to acquire an initial 26% stake in Dingo is consistent with Suvo’s commitment to build a resilient and sustainable commodity supply from its industrial minerals and its new industrial processes.

“The staged structure allowing Suvo to increase its stake in Dingo presents a low-risk approach for shareholders as we prove Dingo’s proprietary technology to produce this critical mineral.

“Recent market reports show that demand for HPA in powder form is expected to reach 187,000 tonnes per year by 2028, with this growth likely to be limited by supply limitations, leading to potential price spikes. as supply struggles to keep pace with demand. .

“HPA is a by-product of kaolin production.

“Suvo has extensive operations in the development, production and sale of kaolin products and believes the acquisition will generate synergies with Suvo’s existing technical and commercial expertise.

“Dingo’s bespoke IP offers a potential pathway for Suvo to produce a sustainable source of HPA with a lower carbon footprint, compared to traditional HPA production, and take advantage of rising demand and prices.

“We look forward to providing shareholders with further updates on this unique market opportunity as the project progresses.”

Use of funds

The initial financing of the placement must be used by Dingo for the advancement of the scoping study and general working capital.

At the end of Stage 3, Suvo will have an exclusive period to negotiate an equity purchase acquisition of the remaining issued shares in Dingo, subject to listing rules and any other regulatory approvals.

Dingo’s intellectual property is at the concept study level and Dingo intends to use the funds from the placement to support the advancement of a scoping study, as well as for general working capital.

The scoping study was designed to assess the technical and economic viability of the flowsheet proposed by Dingo to produce HPA and to validate the feasibility of a potential short-term project.

“Positive environmental results”

Dingo Director Dan Fraser said, “We are delighted to enter into this partnership with Suvo. Dingo and Suvo share the same strong commitment to producing critical minerals with positive environmental results.

“HPA is a dirty business, and we intend to clean it up. Our intention is to change market dynamics and give HPA consumers a green alternative.

“Dingo aims to be an ESG leader and a significant global producer of green HPA for the rapidly growing lithium-ion battery and LED lighting markets.”

HPA market

HPA is a critical, high-value ($28,000-$40,000 per tonne), high-margin, and high-demand mineral used in the production of lithium-ion batteries, portable electronics, electric vehicles, and of LED lamps.

It is also a key material in the production of synthetic sapphire, which is used to make substrates for LED lights, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire crystal used in optical windows and electronics, such as smartphones.

Several factors are contributing to the expected growth in global HPA demand, including the global adoption of LED lighting, smart technology, and the growing market for electric vehicles.

The Australian Federal Government recently added HPA to the list of Critical Minerals under the Critical Minerals Strategy 2022, citing wide-ranging economic and strategic importance.

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$520,659 in Family and Small Business Loans: St. Helens Credit Union Shares Funding | news https://911policeaidfoundation.org/520659-in-family-and-small-business-loans-st-helens-credit-union-shares-funding-news/ Thu, 29 Sep 2022 00:00:00 +0000 https://911policeaidfoundation.org/520659-in-family-and-small-business-loans-st-helens-credit-union-shares-funding-news/ Three Oregon credit unions, including InRoads of St. Helens, will receive a total of $520,659 in federal dollars to support small loans to families and businesses. InRoads Credit Union can be reached at 503-397-2376 for more information on the Federal Family and Small Business Loan Funds. Metro Creative connection According to Oregon US Senators Jeff […]]]>

Three Oregon credit unions, including InRoads of St. Helens, will receive a total of $520,659 in federal dollars to support small loans to families and businesses.






InRoads Credit Union can be reached at 503-397-2376 for more information on the Federal Family and Small Business Loan Funds.




According to Oregon US Senators Jeff Merkley and Ron Wyden, the funding came from the US Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund) through the FY22 round of the Small Dollar Loan (SDL) program.

“Whether it’s a mortgage, an auto loan, or a line of credit to start a business, access to credit is critical to the financial well-being of Oregon residents,” Merkley said. “This funding, which will go to credit unions in St. Helens and Portland, will help provide critical services and support to Oregon residents and provide an important alternative to expensive payday loans. I will continue to work hard to ensure all Americans have access to essential financial services and resources.”

“The essential and manageable financial option that credit unions offer in Oregon communities becomes even more relevant as families and small businesses navigate an economic tightrope,” Wyden said. “I’m glad these credit unions deserve this federal investment to help them create opportunities in their communities so Oregon residents don’t depend on exploitative financial services, and I will continue to fight for credit unions across our state to create similar ones.” secure resources. ”

Through the SDL program, the CDFI Fund provides Loan Loss Reserves (LLR) to enable CDFIs to establish a Loan Loss Reserve Fund to defray the costs of establishing or maintaining a small dollar lending program; and Technical Assistance (TA) Awards to support technology, personnel and other eligible activities to enable a CDFI to establish and maintain a small dollar lending program.

The award winners:

  • $150,403 to InRoads Credit Union of St. Helens
  • $156,759 to Ironworkers USA Federal Credit Union in Portland
  • $213,497 to Point West Credit Union in Portland
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Credit Drawdown Continues to Rise, Sees High Growth for Nearly 9 Years: CareEdge https://911policeaidfoundation.org/credit-drawdown-continues-to-rise-sees-high-growth-for-nearly-9-years-careedge/ Mon, 26 Sep 2022 10:18:07 +0000 https://911policeaidfoundation.org/credit-drawdown-continues-to-rise-sees-high-growth-for-nearly-9-years-careedge/ Mumbai, Sep 26 (IANS) Credit draw recorded robust growth of 16.2% year-on-year in the fortnight ending September 9, nearly the highest growth in the past nine years thanks to strong retail sales and improving wholesale credit. , according to the CareEdge report. However, further rate hikes due to high inflation and currency depreciation could negatively […]]]>

Mumbai, Sep 26 (IANS) Credit draw recorded robust growth of 16.2% year-on-year in the fortnight ending September 9, nearly the highest growth in the past nine years thanks to strong retail sales and improving wholesale credit. , according to the CareEdge report.

However, further rate hikes due to high inflation and currency depreciation could negatively impact credit growth.

The increase in credit demand is due to improving economic activities, credit expansion (16.2%), slower deposit growth (9.5%), early season festivals, cash shortages and high inflation which should boost deposit rates.

With the festival season approaching, credit growth is expected to remain elevated. After modest credit growth in recent years, the outlook for bank credit utilization is positive due to economic expansion following nominal GDP growth, strong demand for small loans (tickets), increased public and private capital expenditure, raw material prices, increased demand for working capital, increased capacity utilization rate, implementation of PLI and ECLGS scheme for MSMEs.

The medium-term outlook looks promising with less corporate stress and a large cushion of provisions. However, inflation remains a major risk. Even though RBI managed domestic inflation to some extent, global inflation remained high

despite warmongering policies. This can lead to demand issues globally, leading to second-order effects in India.

As a result, CareEdge estimates credit growth will be between 12 and 13 percent in FY23, but rate hikes could negatively impact credit growth.

–IANS

msn/dpb

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Capital Power and Manulife Investment Management Complete Acquisition of Midland Cogeneration Plant https://911policeaidfoundation.org/capital-power-and-manulife-investment-management-complete-acquisition-of-midland-cogeneration-plant/ Fri, 23 Sep 2022 13:00:00 +0000 https://911policeaidfoundation.org/capital-power-and-manulife-investment-management-complete-acquisition-of-midland-cogeneration-plant/ Capital Power Company EDMONTON, Alberta, Sept. 23, 2022 (GLOBE NEWSWIRE) — Capital Power Corporation (TSX: CPX) (“Capital Power”) and Manulife Investment Management, on behalf of Manulife Infrastructure Fund II and its affiliates, have announced today that they have successfully completed the acquisition of a 100% interest in MCV Holding Company, which owns Midland Cogeneration Venture […]]]>

Capital Power Company

EDMONTON, Alberta, Sept. 23, 2022 (GLOBE NEWSWIRE) — Capital Power Corporation (TSX: CPX) (“Capital Power”) and Manulife Investment Management, on behalf of Manulife Infrastructure Fund II and its affiliates, have announced today that they have successfully completed the acquisition of a 100% interest in MCV Holding Company, which owns Midland Cogeneration Venture (“Midland Cogen”), a 1 633 megawatts. The acquisition was previously announced on July 12, 2022.

Midland Cogen was acquired from OMERS Infrastructure Management Inc. and its co-investors for US$894 million, subject to working capital and other closing adjustments, and includes the assumption of US$521 million US dollars of debt at the project level. Under the 50/50 joint venture with Manulife Investment Management, Capital Power and its joint venture partner each contributed approximately US$186 million. Capital Power financed the transaction using cash on hand and its credit facilities. Capital Power will be responsible for the operation, maintenance and management of the assets for which it will receive an annual management fee.

Located in Michigan, Midland Cogen is the largest gas-fired cogeneration facility in North America, is a critical asset to support grid reliability during the transition to renewables, and is well positioned given anticipated market conditions. , for renewal beyond 2030. It currently operates under long-term contracts through 2030 and 2035 with quality counterparties.

For Capital Power, the acquisition provides an immediate increase in adjusted funds from operations (AFFO), with the 5-year average increase expected to be US$0.30 per share, representing an increase of 7.0%. Financial projections include an average adjusted EBITDA of US$59 million per year (ranging from US$85 million in 2023 and decreasing to US$45 million in 2027) and an average AFFO of US$35 million per year during the 5-year period from 2023 to 2027.

Non-GAAP financial measures and ratios
The Company uses (i) earnings before net finance expense, income tax expense, depreciation and amortization, write-downs, foreign exchange gains or losses, finance expense and amortization expense of its joint venture interests, gains or losses on disposals and unrealized changes in the fair value of commodity derivatives and emission credits (adjusted EBITDA) and (ii) AFFO as measures of financial performance.

The Company also uses AFFO per share as a performance measure. This measure is a non-GAAP ratio determined by applying AFFO to the weighted average number of common shares used in the calculation of basic and diluted earnings per share.

These terms are not defined GAAP financial measures and do not have any standardized meaning prescribed by GAAP and therefore are unlikely to be comparable to similar measures used by other companies. These measures should not be considered substitutes for net income, free cash flow from operating activities or other measures of financial performance calculated in accordance with GAAP. Rather, these measures are provided to supplement the GAAP measures in the analysis of the Company’s results of operations from a management perspective.

See the Company’s Second Quarter 2022 Non-GAAP Measures and Ratios and 2021 Year-End MD&A for further discussion of these measures and reconciliations of Adjusted EBITDA and AFFO to net income and net cash flow from operating activities, respectively.

Forward-looking information
Certain information contained in this press release is forward-looking within the meaning of Canadian securities laws with respect to anticipated financial and operational performance, events or strategies. Forward-looking information or statements are provided to inform shareholders and potential investors of the Company of management’s assessment of Capital Power’s future plans and operations. This information may not be suitable for other purposes. Forward-looking information in this press release is generally identified by words such as intend, anticipate, believe, plan, intend, target and expect or similar words that suggest future results.

Important forward-looking information contained in this press release with respect to the acquisition of MCV Holding includes expectations regarding: (i) financial impacts, including expected contributions to AFFO and Adjusted EBITDA and growth of AFFO and AFFO per share, and (ii) Midland Cogen’s -contracting positioning following contract expirations in 2030 and 2035.

These statements are based on certain assumptions and analyzes made by the Company in light of its experience and its perception of historical trends, current conditions, expected future developments and other factors it deems appropriate, including its review of the Midland Cogen facility and its reassessment. contracting opportunities. Important factors and assumptions used in making these forward-looking statements relate to: (i) electricity and other energy prices, (ii) expected performance of the Midland Cogen facility, (iii) opportunities for renewal of wholesale market and contracts, (iv) the status and impact of policy, legislation and regulation, and (v) effective tax rates.

Whether actual results, performance or achievements will be consistent with the Company’s expectations and projections is subject to a number of known and unknown risks and uncertainties that could cause results and actual experience differ materially from the Company’s expectations. These important risks and uncertainties are: (i) changes in electricity prices on the MISO electricity market, (ii) changes in market prices of energy commodities and the use of derivatives, (iii) regulatory and political environments, including changes in environmental, financial, market reporting, tax structure and legislation and the receipt and timing thereof of required regulatory approvals, (iv) the availability and performance of production facilities, including equipment maintenance, (v) ability to fund current and future capital and working capital requirements, (vi) changes in market prices and fuel availability, (vii) the ability to realize the anticipated benefits of the Midland Cogen Facility, (viii) limitations inherent in the Company’s review of the Midland Cogen Facility and (ix) changes in general economic and competitive conditions. See Risks and Risk Management in the Company’s 2021 MD&A for further discussion of these and other risks.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of endorsement specified. The Company neither undertakes nor accepts any obligation or undertaking to issue updates or revisions to any forward-looking statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances about which a such statement is based, except as required by law.

About Capital Power
Capital Power (TSX: CPX) is a growth-oriented, strategically focused North American wholesale power producer in sustainable energy headquartered in Edmonton, Alberta. We build, own and operate high-quality, large-scale generation facilities that include renewable and thermal energy. We have also made significant investments in carbon capture and use to reduce carbon impacts and are committed to going coal free by 2023. Capital Power has approximately 7,400 MW of power generation capacity in 28 facilities in North America. Projects in advanced development include approximately 385 MW of renewable power generation capacity held in North Carolina and Alberta and 512 MW of additional natural gas-fired combined cycle capacity from the Genesee 1 and 2 resupply in Alberta.

About Manulife Investment Management
Manulife Investment Management is the global brand for the global wealth and asset management business of Manulife Financial Corporation. We draw on more than a century of financial stewardship and all the resources of our parent company to serve individuals, institutions and pension plan members around the world. Headquartered in Toronto, our industry-leading capabilities in public and private markets are bolstered by an investment footprint that spans 19 geographies. We complement these capabilities by providing access to a network of unaffiliated asset managers around the world. We are committed to investing responsibly in our business. We develop innovative global frameworks for sustainable investing, collaborate with companies in our securities portfolios and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace pension plans. Today, plan sponsors around the world rely on our expertise in pension plan administration and investment to help their employees plan, save and live a better retirement. Not all offers are available in all jurisdictions. For more information, please visit manulifeim.com.

For more information please contact:

Media Relations:
Catherine Perron
(780) 392-5335
kperron@capitalpower.com

Investor Relations:
Randy Mah
(780) 392-5305 or (866) 896-4636 (toll free)
investor@capitalpower.com

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DailyPay Announces Fee-Free Access to Earned Wages https://911policeaidfoundation.org/dailypay-announces-fee-free-access-to-earned-wages/ Wed, 21 Sep 2022 13:00:00 +0000 https://911policeaidfoundation.org/dailypay-announces-fee-free-access-to-earned-wages/ NEW YORK, September 21, 2022 /PRNewswire/ — Furthering its mission to create a new financial system that works for everyone, DailyPay announces a new no-fee transfer option (1-3 business days). Millions of working Americans across the country now have a fee-free money transfer option so they can pay bills, spend, save, or invest on their […]]]>

NEW YORK, September 21, 2022 /PRNewswire/ — Furthering its mission to create a new financial system that works for everyone, DailyPay announces a new no-fee transfer option (1-3 business days). Millions of working Americans across the country now have a fee-free money transfer option so they can pay bills, spend, save, or invest on their own schedule. This announcement follows the recent launch of DailyPay Friday by DailyPay™, an app and all-purpose rechargeable card that allows DailyPay users to access instant EWA without a fee when they upgrade their direct deposit to Friday.

In partnership with America’s top employers, DailyPay works with companies to offer financial tools to their employees, giving employees, many of whom are often unbanked or unbanked, access to Pay Balance, on-demand pay and a much-needed financial lifeline and a Cash flow offer solution. This service provided much-needed financial support to workers during the pandemic and may be particularly relevant in providing financial flexibility as so many are struggling financially with high inflation. In fact, 75% of hourly workers are having trouble paying their expenses this year, according to a recent study Harris survey on behalf of DailyPay and Funding Our Future. DailyPay will be rolling out its new 1-3 business day fee-free money transfer option to its user base in the coming weeks.

“It’s all about choice and access,” he said Matthew Kopko, Vice President, Public Policy, DailyPay. “Our users now have the option of paying a small ATM-like fee for an instant transfer, or a no-fee option for a transfer in 1-3 business days. We also recently introduced Friday, a new general-purpose rechargeable (GPR) prepaid card and app that allows users to receive instant, fee-free transfers. These moves align with our mission to give millions of Americans access to their paychecks and the ability to take control of their finances on their own schedule.”

Leveraging on-demand pay can offer workers a more optimal way to make ends meet. A to learn by The Aite-Novarica Group on behalf of DailyPay shows that workers who previously relied on payday loans, overdraft fees, friend loans, and arrears fees can save several hundred dollars a year in reduced interest on loans, overdraft fees, and arrears fees by using DailyPay use.

That to learn also shows that 95% of DailyPay users who previously relied on payday loans either gave up payday loans or reduced usage after DailyPay. Additionally, 97% of those who said they had overdrawn their bank account prior to using DailyPay reported rarely or never encountered overdraft fees (79%) or fewer overdraft fees (18%) after using DailyPay. Reducing the need to rely on payday loans, advances, or personal loans from family and friends allows working professionals to improve their credit score, build savings, and feel more financially empowered and independent. New research in 2022 from the Mercator Advisory Group confirmed similar findings on employee financial well-being.

About DailyPay

DailyPay, Inc., powered by its industry-leading technology platform, is committed to building a new financial system for everyone. DailyPay offers the industry-leading on-demand pay solution with modern, insights-based pay strategies that help America’s top employers activate their workforce and build stronger relationships with their employees so they feel more engaged, work harder and stay longer . Through its vast data network, proprietary funding model and connections to over 6,000 endpoints in the banking system, DailyPay ensures that money is always in the right place at the right time for employers, merchants and financial institutions. DailyPay is headquartered in NYCwith operations in Minneapolis and Belfast. For more information visit www.dailypay.com/press.

media contacts
David Black
E-mail: [email protected]

Gabriella Lourie
E-mail: [email protected]

SOURCE DailyPay

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Taulia and Standard Chartered Sign Memorandum of Understanding to Advance Working Capital Management Solutions and Strengthen Financial Supply Chains https://911policeaidfoundation.org/taulia-and-standard-chartered-sign-memorandum-of-understanding-to-advance-working-capital-management-solutions-and-strengthen-financial-supply-chains/ Wed, 21 Sep 2022 06:05:00 +0000 https://911policeaidfoundation.org/taulia-and-standard-chartered-sign-memorandum-of-understanding-to-advance-working-capital-management-solutions-and-strengthen-financial-supply-chains/ SAN FRANCISCO AND SINGAPORE–(BUSINESS WIRE)–Taulia, a leading provider of working capital solutions, and Standard Chartered have signed a memorandum of understanding to collaborate on a range of working capital financing solutions, with an initial focus on providing supply chain and dynamic discounting. This is the first memorandum of understanding that Taulia has signed with a […]]]>

SAN FRANCISCO AND SINGAPORE–(BUSINESS WIRE)–Taulia, a leading provider of working capital solutions, and Standard Chartered have signed a memorandum of understanding to collaborate on a range of working capital financing solutions, with an initial focus on providing supply chain and dynamic discounting. This is the first memorandum of understanding that Taulia has signed with a banking institution, following the acquisition of Taulia by SAP.

As part of the agreement, both parties will seek to offer supply chain finance and dynamic discounting solutions, enabled by Taulia’s market-leading front-end platform and deeply integrated technology. Combined with the strength of Standard Chartered’s global presence, particularly in emerging markets, its trade finance expertise and deep client relationships, the collaboration will help clients build the resilience and sustainability of their chains. supply chain, allowing their suppliers to access working capital more efficiently. and profitably.

Through this collaboration, Standard Chartered and Taulia will join forces to extend the reach of their working capital financing solutions across existing and new customer networks, particularly multinational companies who need expertise and support for global and local levels. This will be further enhanced by the recent acquisition of Taulia by SAP, which will open up new opportunities in SAP’s growing ecosystem to deliver a differentiated experience for buyers and suppliers.

“We are proud to announce the signing of the Memorandum of Understanding with Standard Chartered and this marks another step in Taulia’s journey to grow our banking network and work closely with our partners to deliver working capital solutions to all of our customers,” said Thomas Mehlkopf, Head of Working Capital Management CoE at SAP and a member of Taulia’s management team. “We believe all CFOs should focus on their cash strategy to ensure growth in these turbulent times and our partnership with Standard Chartered will provide liquidity when and where it is needed, particularly in emerging markets.”

“Ensuring that our customers manage their working capital effectively is a critical priority to ensure the sustainable growth of their businesses, especially with the complexities and challenges of today’s supply chains,” said Kai Fehr. , Global Head of Trade and Working Capital, Standard Chartered. “We are delighted to work with Taulia to explore new and innovative ways to meet our clients’ working capital needs, as well as to extend the Bank’s leading expertise in sustainable commerce to their network of customers. ‘business. Taulia’s footprint also complements that of the Bank, providing us with greater opportunities to support Western companies in their supply chain flows to Asia, Africa and the Middle East.

— ENDS —

Note to Editors

About Taulia

Taulia is a fintech provider of working capital management solutions headquartered in San Francisco, California. Taulia helps companies access the value linked to their payables, receivables and inventories.

A network of over 2 million businesses use Taulia’s platform to determine when they want to pay and get paid. Taulia enables its customers to execute their working capital strategies, support their suppliers with prepayment, and help build sustainable supply chains.

Taulia processes more than $500 billion each year and is trusted by the world’s largest companies, including Airbus, AstraZeneca and Nissan.

In March 2022, Taulia joined SAP. Taulia operates as an independent company with its own brand within the SAP group. For more information, visit www.taulia.com.

Standard charter

We are a leading international banking group, present in 59 of the world’s most dynamic markets and serving clients in 83 others. Our goal is to drive commerce and prosperity through our unique diversity, and our heritage and values ​​are expressed in our brand promise, Here For Good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

For more stories and expert opinions, please visit Insights on sc.com. Follow Standard Chartered on TwitterLinkedIn and Facebook.

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Prepayment Apps vs Payday Loans: Which is Better? https://911policeaidfoundation.org/prepayment-apps-vs-payday-loans-which-is-better/ Sun, 18 Sep 2022 16:00:43 +0000 https://911policeaidfoundation.org/prepayment-apps-vs-payday-loans-which-is-better/ (nerd wallet) – When you picture a payday rental company, you might think of a storefront in a mall with green dollar signs and neon slogans like “payday every day.” You probably don’t imagine a mobile app advertising on TikTok and sporting a colorful logo. but cash advance apps like Earnin and Dave offer advances […]]]>

(nerd wallet) – When you picture a payday rental company, you might think of a storefront in a mall with green dollar signs and neon slogans like “payday every day.” You probably don’t imagine a mobile app advertising on TikTok and sporting a colorful logo.

but cash advance apps like Earnin and Dave offer advances with the same credit and repayment structure as payday lenders, and consumer advocates say they face similar risks. Both are quick, no-credit-check options to close an income gap or ease inflationary pressures.

Both are not ideal first choices for borrowing quick cash, but knowing their differences can help you save money and not damage your finances.

Cash advance apps work like payday loans

As with most payday loans, you can use a cash or payroll app to borrow money without a credit check. Also, you must repay the advance plus any agreed fees on your next payday.

A single payment cycle is usually not enough time for borrowers to repay one payday loanso many people fall into the pattern of getting another loan to pay off the previous one, says Alex Horowitz, an executive at The Pew Charitable Trusts.

App users may be in a similar cycle. A 2021 Financial Health Network study found that more than 70% of app users make sequential progress. The study doesn’t say why users reborrow loans, but Horowitz says the behavior is particularly similar to payday loans.

“Payroll advances direct to consumers share the DNA with payday loans,” he says. “They’re structured the same, they borrow repeatedly, and they’re timed to coincide with the borrower’s payday, giving the lender strong collection ability.”

Apps may offer more flexibility

Payday lenders and paycheck advance apps both pull repayment directly from your bank account. If your account balance is too low when you withdraw funds, you may incur an overdraft fee, says Yasmin Farahi, senior policy counsel at the Center for Responsible Lending.

An app may be trying to avoid overdrafting your account. Mia Alexander, vice president of customer success at Dave, says the app checks users’ bank accounts before withdrawing the refund. If the payback makes the balance close to zero or negative, the app may not be able to withdraw funds, she says.

However, apps often include language in their user agreements that even if they try not to overdraw your account, they are not responsible if they do so.

In states that allow payday loans, a payday loan is unlikely to offer a free, unsolicited payment extension like some apps claim. Some states require payday lenders to offer free extended payment plans to problem borrowers, but a 2021 report by the Consumer Financial Protection Bureau says some lenders misrepresent the plans or fail to disclose them.

Also, unlike payday lenders, apps don’t make collection calls. If a user revokes access to their bank account to avoid a refund, the app doesn’t attempt to collect the funds. The user simply cannot get another advance until they pay back the previous one.

Payday loans cost more

Payday loans tend to have high, mandatory fees, while apps often don’t. Instead, they charge small fees that users can opt-in to throughout the rental process. These fees can add up, but they’re usually less than what payday lenders charge.

For example, an app might charge a monthly subscription fee or a fee for instant access to funds. Most cash advance apps also require a tip for service.

The fee for a $375 payday loan is typically about $55 over a two-week period, Horowitz says. Since the cash advance app fees are mostly optional, you can easily keep the cost under $10.

Earnin user Sharay Jefferson says she’s used payday loans in the past but switched to a cash advance app because it’s a cheaper way to cover bills and unexpected expenses.

“If you get a $200 payday loan, you might pay off three or more,” she says. “At Earnin, I have to pay back that $200 plus the tip I give them. It’s a lot cheaper.”

Technically, apps are not lenders

Regulators like the CFPB have not classified paycheck advance apps as lenders, despite their similarities to payday loans.

According to Ram Palaniappan, CEO and founder of Earnin, the app is more like a payroll service or an ATM because it makes it easier to access your own funds. Earnin requires users to upload a time sheet showing they worked enough hours to earn the cash advance amount. Other apps scan a user’s bank account for income and expenses to determine if they are eligible for an advance.

According to Farahi, apps should be treated like lenders, meaning they would follow the Truth in Lending Act, which requires lenders to disclose an APR. An APR allows consumers to compare costs between financing options. For example, users could compare the APR of a cash advance app to that of a credit card and choose the cheapest.

“People still need to know what the actual cost of borrowing is and be able to evaluate it and really compare that cost to other options,” she says.

Apps would also have to comply with applicable state credit laws. Currently, 18 states and Washington, DC have maximum interest rate caps that could cap app fees, she says.

Prepayment App vs Payday Loans: Which is Better?

If you need cash urgently, you can have it better alternatives as payday loans and advance apps, Farahi says.

Local non-profit organizations and charities can help with basic food and clothing needs. A family or friend could lend you money without charging additional fees. If you have a few hours, a side job could bring in as much money as a typical payday loan or cash advance app.

If the choice is between an app and a payday loan, the app is probably a better option because:

  • It’s cheaper.
  • It must not trigger an overdraft fee.
  • If you don’t pay it back, the app won’t direct you to debt collection.

A cash advance from an app probably won’t put you in a better financial position, Farahi says. But you may be a little less likely to get worse than with a payday loan.

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3 key growth stocks for the upcoming new bull market https://911policeaidfoundation.org/3-key-growth-stocks-for-the-upcoming-new-bull-market/ Sun, 18 Sep 2022 14:00:00 +0000 https://911policeaidfoundation.org/3-key-growth-stocks-for-the-upcoming-new-bull-market/ With inflation numbers still hot, it’s hard to see the Federal Reserve easing its tightening stance on the economy. But some market experts are pointing to a slowdown in August inflation data relative to July as a sign that we may have already seen the bottom for the S&P500and that better days are ahead for […]]]>

With inflation numbers still hot, it’s hard to see the Federal Reserve easing its tightening stance on the economy. But some market experts are pointing to a slowdown in August inflation data relative to July as a sign that we may have already seen the bottom for the S&P500and that better days are ahead for investors.

If a bull market returns, fintech stocks could be among the first sectors to recover. Investors hoping to profit from this might seriously consider Affirm holdings (AFRM -7.04%), To block (SQ -6.20%)Where MasterCard (MY -0.58%) shares. These top three fintech stocks are valuable additions to the growth stock portion of an investor’s portfolio.

1. Affirm gets a boost from its huge partners

Anthony Di Pizio (Affirm): Buy Now, Pay Later (BNPL) is a relatively new variant of installment loans that has exploded in popularity over the past few years. This is disrupting traditional consumer credit products like credit cards, in part because providers like Affirm are using technology to appeal to younger consumers. It’s popular, in part, because it charges interest rates that vary based on credit scores instead of charging a fixed, all-in (often high) rate.

Affirm’s BNPL platform integrates with its merchant partners’ online stores, so customers don’t even need a credit or debit card or bank approval to fund their purchases. When they navigate to the checkout of participating sellers, Affirm will appear as a payment option and fund the transaction with just a few clicks. It’s a level of convenience designed for the modern consumer, with a simple repayment structure that often spans four equal installments and no late fees or penalties.

Affirm is a leader in the BNPL industry, and it has a few successful technology partners to back it up. The company has deals with e-commerce giants Shopify and Amazon be their exclusive BNPL supplier. Shopify merchants can now add Affirm as a payment option for their customers at checkout, and they accept the offer in bulk. At the end of fiscal 2022 (ending June 30), Affirm had 235,000 merchants in its ecosystem, up 710% year-over-year driven primarily by its agreement with Shopify.

Its number of customers exceeded 14 million, almost doubling in the same period. Overall, it generated $1.3 billion in revenue for fiscal 2022, up 55% and marking the first time it passed the $1 billion mark.

Affirm’s stock price is down 86% from its all-time high amid the tech market selloff, mostly because it’s a loss-making company right now so expand its services. The lack of profits is perceived as a high risk in this environment. However, Affirm’s business is growing so rapidly that profitability should not be the priority at this time. When a new bull market arises, its stock is likely to rally and generate strong gains.

2. Block benefits from two incredibly powerful ecosystems

Neil Patel (To block): When it comes to fintech and digital payments, perhaps no name commands more attention than Block. Founded by Jack Dorsey, this innovative company, formerly known as Square, currently makes a compelling investment case.

On the merchant side, Block operates what is now called Square, which offers small businesses a wealth of software, hardware and financial services products, ranging from point-of-sale solutions and inventory management to cash loans. payroll and working capital. In the last quarter, Square processed $48.3 billion in gross payment volume (GPV), up 24.5% year-over-year, with a larger share coming from what Block calls mid-market traders, or those generating at least $500,000 in annualized GPV.

Block also owns one of the most popular personal finance tools on the market, Cash App, which had 47 million monthly active users as of June 30. Cash App can be used to send or receive money instantly, spend at merchants, set up direct deposits, and even buy stocks and Bitcoin. In the second quarter of 2022, Cash App’s gross profit of $705 million was 29% higher than the prior year period.

While Square and Cash App are exceptional companies with positive characteristics on their own, what makes Block special is its ability to integrate these two segments over time. The company’s acquisition of specialist BNPL Afterpay, completed in January, strengthens the bond between merchants and consumers by adding a hugely popular feature to both platforms that is expected to increase transaction counts and payment volume over time. And that will ultimately result in a higher gross profit for Block.

With shares down 57% in 2022 and trading at a selling price multiple of just over two today is a good time to buy stocks in bulk. The company is a leader in digital payments and still has plenty of room for growth.

Don’t sleep on this digital payments network leader

Nicholas Rossolillo (MasterCard): Bull markets are not just about stock market recovery. It is also about healthier economic growth. And if the global economy gets back on its feet, digital payment network giant Mastercard could have a lot to gain.

Don’t get me wrong, though, this isn’t a super high-growth financial tech poised to deliver super-attractive returns. Mastercard is already a titan that generated $5.5 billion in revenue last quarter alone, a 21% year-over-year increase. Nothing to complain about, especially given the stress the global economy is currently under due to inflation.

For the foreseeable future, Mastercard’s “railway” facilitating the movement of digital money will remain dominant alongside peers Visa, and a stabilization of the global economy would help improve Mastercard’s financial results. Additionally, over time, Mastercard’s profitability tends to grow at an even faster rate than revenue, since its core operations are already paid for. This means that any additional income Mastercard generates generates little additional cost, which equates to a lot of cash being passed on to shareholders. Namely, adjusted net income increased 29% in Q2.

What’s amazing here is that Mastercard is still discovering many new uses for its network, even under less than ideal economic circumstances. The use of paper money is still prevalent around the world, so Mastercard can sustain its growth for years to come by converting more users to digital cash. It also offers value-added services such as data security, consumer engagement tools, and software-based banking products. This segment grew by 18% in the last quarter, benefiting from a growth of three percentage points thanks to small complementary acquisitions.

Overall, this is an incredibly solid investment that can deliver steady growth for years to come as the financial services industry gradually undergoes digital transformation. Mastercard currently trades for 32 times trailing 12-month earnings per share, or 37 times enterprise value to free cash flow. It’s a premium price tag that has stuck with Mastercard for a long time – and for good reason, as it has demonstrated its ability to grow steadily at a healthy rate for many years.

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a board member of The Motley Fool. Anthony Di Pizio has no position in the stocks mentioned. Neil Patel holds positions at Amazon, Bitcoin, and Block, Inc. Nicholas Rossolillo holds positions at Amazon, Bitcoin, Block, Inc., Mastercard, Shopify, and Visa. The Motley Fool holds positions and recommends Affirm Holdings, Inc., Amazon, Bitcoin, Block, Inc., Mastercard, Shopify, and Visa. The Motley Fool recommends the following options: $1140 January 2023 Long Calls on Shopify and $1160 January 2023 Short Calls on Shopify. The Motley Fool has a disclosure policy.

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Raising 500 million dollars, Vietjet Air wants to “play big” https://911policeaidfoundation.org/raising-500-million-dollars-vietjet-air-wants-to-play-big/ Fri, 16 Sep 2022 06:07:00 +0000 https://911policeaidfoundation.org/raising-500-million-dollars-vietjet-air-wants-to-play-big/ Vietjet Air plans to privately offer 34.8 million shares to 100 professional securities investors at a price of VND 135,000/share to raise nearly VND 4.7 trillion in 2022-2023 after getting fired green from the State Securities Commission (SSC). The capital will be disbursed from Q4/2022 to Q1/2023. More than VND 2.3 trillion would be used […]]]>

Vietjet Air plans to privately offer 34.8 million shares to 100 professional securities investors at a price of VND 135,000/share to raise nearly VND 4.7 trillion in 2022-2023 after getting fired green from the State Securities Commission (SSC).

The capital will be disbursed from Q4/2022 to Q1/2023. More than VND 2.3 trillion would be used to improve liquidity and working capital, VND 1.1 trillion to lease and purchase aircraft, and VND 1.2 trillion to lease and purchase engines and equipment.

Earlier, its shareholders’ meeting approved a 3-5 year convertible stock issuance plan worth VND6.96 trillion ($300 million). The capital will also be used for investment, rental and purchase of engines, as well as to improve the companies’ liquidity and working capital. At the meeting, Vietjet Air shareholders also approved a plan to issue more than 108.3 million shares to pay dividends and increase share capital.

With the first two plans, Vietjet Air will raise 11.4 trillion VND (nearly $500 million). Its share capital will also increase sharply.

The aviation sector is experiencing better business results with profits and decreasing losses. However, companies in the sector are still facing difficulties due to high fuel prices, and international air links have not fully recovered.

Vietjet Air in the second quarter of 2022 reported a profit after tax of VND 181 billion, bringing the cumulative profit in the first half to VND 426 billion.

Its consolidated revenue in the second quarter reached VND11.6 trillion and in the first half reached VND16.1 trillion, an increase of several times compared to the same period last year and higher than the same period of 2019.

Vietjet Air’s business results in the second and first half of the year are impressive, reflecting the strong recovery in travel demand after the pandemic.

M.Ha

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Retail sales are going well, thank you buyers. But gas station sales are falling due to the collapse in gasoline prices https://911policeaidfoundation.org/retail-sales-are-going-well-thank-you-buyers-but-gas-station-sales-are-falling-due-to-the-collapse-in-gasoline-prices/ Thu, 15 Sep 2022 21:36:23 +0000 https://911policeaidfoundation.org/retail-sales-are-going-well-thank-you-buyers-but-gas-station-sales-are-falling-due-to-the-collapse-in-gasoline-prices/ Retail sales excluding gas stations rose 0.8% in August from July. Inflation shifted away from goods (retail) to services. By Wolf Richter for WOLF STREET. There was a large drop in sales at gas stations, driven by a collapse in gas prices and a drop in demand for gas (both of which I discussed yesterday). […]]]>

Retail sales excluding gas stations rose 0.8% in August from July. Inflation shifted away from goods (retail) to services.

By Wolf Richter for WOLF STREET.

There was a large drop in sales at gas stations, driven by a collapse in gas prices and a drop in demand for gas (both of which I discussed yesterday).

But retail sales excluding forecourt sales rose 0.8% in August from July and have been on a solid upward trend for months, even as inflation has shifted from goods sold by retailers to services not sold by retailers sold.

Retail sales track sales of goods, not services. And inflation has shifted from goods to services, and services inflation is now driving headline inflation (which I discussed a few days ago), even as some commodity prices fall.

Today’s Census Bureau retail sales data is based on surveys of approximately 5,500 retailers, broken down by retailer category, from a retailer perspective, not a consumer perspective.

Total retail sales rose 0.3% and 9.1% year-on-year to $683 billion (seasonally adjusted) from July, despite the decline at gas stations. Compared to August 2019, the last normal year, total retail sales increased by a staggering 31.1%.

Inflation in trading = price increases. But where?

Retail sales are grouped by retailer categories, such as auto dealerships and e-commerce sales, rather than product categories. But CPI inflation is measured by product category. Therefore, CPI inflation cannot simply be applied to retail sales as the categories do not match.

Headline CPI inflation rose 0.1% in August vs. July and 8.3% yoy. Services CPI is inexorably rising but plays no role in retail sales as retailers sell goods.

Gasoline CPI: -10.6% in August from July. But retail sales at gas stations include the other items they sell. Many gas stations are in fact convenience stores selling groceries, drinks and other items, and the fall in the price of gasoline has been offset by increases in the prices of the other items they sell.

CPI for “eating at home”: +0.7% in August from July – which falls in the “food and beverage outlets” retail category. But Walmart is also a giant grocery retailer and is classified as a “retail store,” not a grocery and beverage store.

Durable Goods CPI: +0.5% in August from July. Durable goods are sold by multiple categories of retailers, including new and used car dealers, e-commerce retailers, home appliance stores, electronics stores, furniture stores, convenience stores, etc. Their various products are subject to different pricing environments, with some prices going down (e.g. used vehicles). and electronics) and with other rising prices (e.g. new cars).

Sales at new and used car and parts dealers, the largest category rose 2.8% in August from July and 6.8% year-on-year to $128 billion, seasonally adjusted. Compared to August 2019, sales increased by 21%.

This is due to a mix of much higher prices and much lower volumes as new car dealers still face major inventory shortages despite having shifted and some brands now have ample inventory while other brands are essentially out of fuel. efficient vehicles.

Sales at e-commerce and other “non-store retailers” fell 0.7% from July’s record to the second-highest ever, $108 billion, seasonally adjusted, up 11% year-on-year and up 70% from August 2019.

This includes sales from pure e-commerce retailers, from e-commerce operations of stationary retailers, and from stands and markets:

Grocery and Beverage Stores: Revenue increased 0.5% mom and 7.2% year-on-year to $79.5 billion, up 23% from August 2019:

Gastronomy and drinking establishments: Revenue rose 1.1% in August from July and 10.9% year over year to a record $86 billion. This is up 32% since August 2019. These include bars, restaurants, coffee shops, cafeterias, delicatessens, fast food joints, etc.

Convenience Stores: Revenue rose 0.4% mom and 4.2% year-on-year to $58 billion, up 20% from August 2019. Walmart and Target are in this category, but department stores aren’t:

gas stations: Sales for the month fell 4.2% to $64 billion, the second straight month of declines as gasoline prices fell. Sales are still up 29% year over year and 51% compared to August 2019. Gas station sales include the other things they sell: many gas stations are effectively convenience stores selling all manner of groceries, beverages, and other items, and the fall in the price of gas is offset by increases in the price of their other items.

Building materials, garden supplies and equipment stores: Revenue rose 1.1% this month and 10.5% year over year to $43 billion on a seasonally adjusted basis, up 36% from August 2019:

Clothing and Accessories Stores: Revenue rose 0.4% mom and 3.5% year-on-year to $26 billion, up 16% from August 2019:

Various retailers (including cannabis stores): Revenue for the month was up 1.6%, up 15% year over year, and up 47% since August 2019 to $16.2 billion:

Furniture and furnishing stores: Revenue declined 1.3% month-on-month and 1.6% year-on-year to $11.8 billion. This was still 16% up from August 2019:

Department Stores: Revenue was up 0.9% for the month and just 0.7% year over year, and was basically flat from August 2019’s $11.4 billion. Compared to the top department store in 2000, sales were down 43%. Numerous department stores, from Sears on down, declared bankruptcy and mostly disappeared. Anything you can buy in a brick-and-mortar department store, you can also buy online, including on this chain’s website, and that’s where these sales went:

Sporting goods, hobby, book and music shops: Revenue was up 0.5% mom and 5.5% year over year to $9.3 billion, up 38% from August 2019:

Electronics and Appliance Stores: Revenue fell 0.1% month-to-month and 5.7% year-on-year to $7.6 billion, flat from August 2019.

Only electronics and home appliance stores specifically fall into this category, such as Best Buy’s brick-and-mortar stores or Apple’s brick-and-mortar stores. It doesn’t apply to other retailers that sell electronics and gadgets, and it doesn’t apply to e-commerce sales of electronics and gadgets. This brick-and-mortar category is also slowly out, with sales down 15% today from where they were 15 years ago:

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