FEATURED ARTICLES
REAL_ESTATE
December 29, 2014 | By Erin Arvedlund, Inquirer Staff Writer
Chris and Jillian Soriano bought and then renovated their Haddon Heights house using a Fannie Mae HomeStyle Renovation loan to finance the improvements. The couple moved into the four-bedroom, two-bathroom house last summer "knowing we were going to rip out the kitchen," said Jillian Soriano, who wanted an open-concept cooking and dining area. "I wanted to take down the wall separating the kitchen and dining room and replace it with a butcher-block island with two sets of seating," she said.
BUSINESS
September 25, 2012 | By Diane Mastrull, Inquirer Columnist
In the tight-money world of small business owners, the occasion seemed more worthy of a bottle of bubbly than a steaming cup of Honduran dark roast. But java is the specialty of Green Street Coffee Roasters, the 17-month-old South Philadelphia company owned by brothers Chris and Tom Molieri. Early last week, the Molieris were celebrating a $10,000 loan for equipment they had just secured. They were also raising a cup to the entity that made it happen – Entrepreneur Works. It is a community development financial institution, or CDFI, one of a network of nearly 1,000 mostly nonprofit entities nationwide devoted to helping entrepreneurs overcome what stymies so many of them: access to capital.
NEWS
October 10, 1991 | By Suzanne Sczubelek, Special to The Inquirer
The Chester County Commissioners on Tuesday approved giving a $1 million below-market-rate loan to UB Foods U.S. to further encourage the firm to establish a plant in Oxford Borough. Officials from UB Foods, which makes Keebler snacks, told borough residents last Thursday that the firm intends to buy the former Pepsico Unibev plant, which has been empty for three years. The commissioner's action follows a recommendation by the county's Industrial Development Authority, which actually is making the loan.
NEWS
January 12, 1989 | By Jeff Gammage, Inquirer Staff Writer
The Abington school board took less than a minute to borrow $3 million last week, voting without discussion to borrow the money from CoreStates Capital Markets Group. "And not a person here knows what it's for," grumbled Joseph Polya, a persistent board critic who attended the Tuesday night meeting. Actually, the board spelled out its plans for the loan as far back as June. It will go for repairs and improvements throughout the district, including purchase of computers, buses and windows, and for repairs to roofs, tennis courts and sidewalks.
NEWS
March 3, 1988 | By TYREE JOHNSON, Daily News Staff Writer
Philadelphia Sheriff John Green said bar owner Sidney Booker gave him an $11,000 personal loan and then made him an offer he had to refuse. "He wanted a job, and in exchange I did not have to pay back the note," recalled Green. "I told him I don't sell jobs, and after that, he stopped speaking to me," added Green, who took over the 290-member Sheriff's Department in January. Green made his comments after reporters discovered that Booker had filed two suits in Small Claims Court alleging that Green failed to repay a total of $11,000 worth of loans that he was supposed to start repaying on Dec. 1. Booker, owner of the Stinger Bar on Broad Street near Belfield, said he would have no comment until after the suit is heard on Tuesday.
NEWS
November 29, 2012 | By Carl Dranoff
The Inquirer reported this week on the Delaware River Port Authority's role in financing the redevelopment of the RCA Victor building in Camden. As a strong advocate of the Camden waterfront and one of the first developers to participate in its revitalization, I have a perspective that differs dramatically from that of the report. In the late 1990s, when I first saw the RCA Victor building, I didn't just see a boarded-up, vandalized symbol of the blight that had come to define Camden.
NEWS
March 5, 2012
The Consumer Finance Protection Bureau has begun to take complaints about student loans, it said Monday. The bureau will assist all borrowers experiencing problems taking out or repaying a private loan or managing one in default and referred to a debt collector. Complaints may be submitted through 1-855-411-2372; at www.consumerfinance.gov ; faxed at 1-855-237-2392, or mailed to the bureau at P.O. Box 4503, Iowa City, Iowa 52244.    - Alan J. Heavens
NEWS
December 9, 1999 | By Nancy Petersen, INQUIRER STAFF WRITER
A Chester County agency is suing a Philadelphia eye doctor in an effort to recover a $180,000 loan it made to the physician four years ago to open a health-care center in downtown West Chester. The center, which was to be a multidisciplinary practice owned and operated by minority physicians, never opened, and the building at 16 E. Gay St. stands empty. The loan was made to Neal E. Hall by the county Office of Housing and Community Development using federal Community Development Block Grant money.
NEWS
November 18, 1986 | By Inga Saffron, Inquirer Staff Writer
Freeholder Joseph J. Milano agreed yesterday to call off his six-week-old feud with the Camden County sewerage authority and cast the deciding vote for the expansion of the regional sewer system. Milano, a maverick Democrat who joined with the three Republican freeholders in stalling a $39 million loan for the Camden County Municipal Utilities Authority (CCMUA), decided to switch his position after a late afternoon meeting with authority officials Herman B. Engelbert and Moses Jackson.
NEWS
November 5, 1989 | By Michele McCreary, Special to The Inquirer
The Yardley Borough Council will hold a public hearing before deciding whether to guarantee a $1.8 million loan to pay for the recent expansion of a waste-water treatment plant. In a unanimous 7-0 vote, the council declined the Morrisville Sewer Authority's "push to make a hasty decision" Wednesday night and scheduled a public hearing instead. The council did vote to advertise an ordinance to guarantee the loan. "Just because we have voted to advertise the proposed ordinance does not guarantee that we will pass it. But it does provide us with some time to make sense of all of this," council President Susan Taylor said.
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ARTICLES BY DATE
BUSINESS
September 18, 2016 | By Erin E. Arvedlund, Staff Writer
When they founded a group for women over 50, Linda Resnick, Bobbie Gohn, and Terri Gelberg shared an interest in travel and empowerment. The question: how to combine those passions? So in 2007, the three formed WIL of Greater Philadelphia for like-minded women who wanted to travel, and not to just see the sights. WIL, which stands for "Women International Leaders," makes loans in developing regions, then its members travel to these far-flung places (Haiti, Cuba, and the Dominican Republic, among others)
BUSINESS
August 23, 2016 | By Erin E. Arvedlund, Staff Writer
If your student-loan servicer is making life difficult, you're likely in good company. Americans wanting to repay their student loans - and, especially, keep the balance out of default - often are stymied by the loan servicers themselves, according to a new Consumer Financial Protection Bureau report. On Thursday, a CFPB ombudsman revealed borrowers' complaints about the very companies that are supposed to help them pay back their student loans. The report analyzed complaints submitted between Oct. 1 and May 31. During that time, the CFPB handled about 3,500 complaints relating to private student loans and 1,500 debt-collection complaints related to private and federal student loans.
NEWS
August 10, 2016 | By Maddie Hanna, TRENTON BUREAU
TRENTON — A mother still paying off student loans for her murdered son. Another whose son declared bankruptcy after he was unable to keep up with payments. A young woman who worried she would never be able to have a child because of her six-figure debt. These were stories New Jersey lawmakers heard Monday as they took testimony on the state's Higher Education Student Assistance Authority (HESAA), which recently drew scrutiny in a ProPublica investigation. The investigation, published last month in collaboration with the New York Times , described the state's loan program as an anomaly among government lending programs for students, "with extraordinarily stringent rules that can easily lead to financial ruin.
BUSINESS
August 5, 2016 | By Alan J. Heavens, REAL ESTATE WRITER
Begun as the government's response to the foreclosure crisis, the Treasury Department's Home Affordable Modification Program wasn't supposed to last forever. The Dec. 31 end of the foreclosure relief program, which offered a more affordable payment by adjusting interest rates, extending the loan term, and reducing or forbearing principal, will leave a gap that the government is trying to fill. The Consumer Financial Protection Bureau, created under the Dodd-Frank Act of 2010, is proposing consumer protection principles to guide mortgage servicers, investors, government housing agencies, and policy makers as they develop foreclosure-relief solutions to replace what is better known by its acronym, HAMP.
NEWS
July 20, 2016 | By Jacob Adelman, STAFF WRITER
Starwood Capital Group has provided Post Bros. with a $183 million loan to refinance the development company's Presidential City apartment complex at 3900 City Ave. in Philadelphia, real estate services firm CBRE said in a release Monday. CBRE Capital Markets' Debt & Structured Finance team arranged the three-year, interest-only loan with two one-year extension options, the firm said. Post Bros. has completed redevelopment of two of the four towers that make up the 1,018-unit Presidential City site and has finished work on the buildings' five-acre pool complex.
NEWS
June 19, 2016
DEAR ABBY: I have plans to go to law school in the next two years. I have already taken the entrance exam, and will receive recommendations from two of my college professors. The problem is, my parents are refusing to cosign for my law school loan. Abby, I'm not asking for money; I'm just asking for someone to cosign the loan for me. I plan to pay off the debt myself. I don't want to ask an extended family member for help, because even if they agree, I'd feel horrible if it prevented them from helping their own children with something.
NEWS
June 15, 2016 | By Jeremy Roebuck, Staff Writer
Prosecutors accused U.S. Rep. Chaka Fattah of engaging in a "white-collar crime spree" that stretched from Philadelphia to Washington as closing arguments began Monday in his federal corruption trial. But defense lawyers shot back, painting prosecutors as determined to smear the 11-term congressman with thin evidence in order to justify an investigation that dragged on for years. "They threw a lot at the wall and tried to make it look dastardly," Fattah lawyer Samuel Silver told the jury.
BUSINESS
June 4, 2016 | By Erin Arvedlund, Staff Writer
Pennsylvania and New Jersey don't allow payday lending. And state consumer groups want it to stay that way, as a federal agency proposes sweeping new rules to address payday lenders around the country. The Consumer Financial Protection Bureau proposed federal laws this week aimed at ending payday debt traps. "Too many borrowers seeking a short-term cash fix are saddled with loans they cannot afford and sink into long-term debt," CFPB director Richard Cordray said. "Our proposal would prevent lenders from succeeding by setting up borrowers to fail.
NEWS
May 27, 2016
ISSUE | POLITICAL CORRUPTION Fattah, son missed out on student loans U.S. Rep. Chaka Fattah's son could have gotten student loans like many of the children of the congressman's constituents ("Fattah jury told of Drexel tuition woes of son," Wednesday). My children will be paying their loans for quite some time, since I didn't have campaign funds to draw from illegally, as Fattah is charged with doing. All I had were my two jobs. |Jim Polisi Jr., Philadelphia, jamesjpmp@verizon.net
NEWS
May 21, 2016 | By Jeremy Roebuck, Staff Writer
Defense lawyers lit into U.S. Rep. Chaka Fattah's hired political gun Thursday in a dogged cross-examination of the man who has emerged as a key witness in the government's racketeering conspiracy case. It remains to be seen whether their attacks on Thomas Lindenfeld, the chief strategist behind Fattah's failed 2007 mayoral bid, were enough to sway the federal jury weighing the fates of the congressman and his four codefendants. In six hours of testimony, Lindenfeld parsed words with the smoothness of a man who had spent the last three decades working in Washington politics.
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