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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SPORTS
February 22, 2015 | BY JONATHAN TANNENWALD, Philly.com jtannenwald@phillynews.com
EVERYONE WATCHING the Union has waited a long time for the team to fulfill its promise to sign a striker who can truly lead the team's attack. Yesterday, the team finally got its man: Fernando Aristeguieta, of French club Nantes and Venezuela's national team. He'll come to PPL Park on loan for the duration of the 2015 MLS season. The Union will have the option to purchase his rights afterward. "He adds a different quality up front and has experience at both the international and club levels," Union technical director Chris Albright said in a statement issued by the team.
NEWS
February 4, 2015 | By Paul Nussbaum, Inquirer Staff Writer
Developer Dranoff Properties has repaid a $3 million loan, with $1.28 million in interest, on the Victor Lofts luxury apartment building on the Camden waterfront, the Delaware River Port Authority said Monday. The DRPA lent Dranoff the money in 2003 to convert the old Radio Corp. of America "Nipper" Building into 341 apartments. The building was listed for sale last fall, but Carl Dranoff said Monday that his company might keep it. "We're considering our options to retain, refinance, or sell it," he said.
SPORTS
January 8, 2015 | BY JONATHAN TANNENWALD, Philly.com jtannenwald@phillynews.com
IT'S NO SECRET the Union has spent many months trying to get rid of goalkeeper Zac MacMath. The team tried repeatedly to trade him, to no avail. It left him unprotected in the expansion draft in the hope that Orlando City or New York City FC would take him, and neither did. So the Union was yet again stuck with three starting-caliber goalkeepers, including two - Algerian Raïs Mbolhi and Jamaican Andre Blake - who are starters on their respective national...
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
December 11, 2014 | By Alan J. Heavens, Inquirer Real Estate Writer
Responding to housing-industry concerns that tightened mortgage-credit rules would hamstring the critical first-time-buyer market, Fannie Mae and Freddie Mac will offer 3 percent down-payment loans to qualified borrowers. Fannie's My Community Mortgage program, open to first-time buyers with a 620 minimum credit score, starts this week. Freddie's Home Possible Advantage, available to all qualified buyers, begins in March. Andrew Bon Salle, a Fannie Mae executive vice president, said his program's goal was to help qualified borrowers gain access to mortgages, but added that it would not "solve all of the challenges around access to credit.
BUSINESS
December 4, 2014 | By Linda Loyd, Inquirer Staff Writer
When Carl Lewis needed a refrigerated dessert display case for his 48th Street Grille in West Philadelphia, he applied for a $5,000 zero-interest loan from crowdfunding website Kiva.org. "I envisioned opening this restaurant. I applied to several banks for a loan, and they all turned me down," said Lewis, whose Kiva Zip loan was underwritten by 185 lenders as far away as Sweden and Australia. The money-raising initiative will now be available to more small-business owners and aspiring entrepreneurs with the launch of Kiva City Philadelphia on Tuesday.
NEWS
November 11, 2014 | Michelle Singletary
THERE ARE SOME things you want to run long. I like two-week vacations so I can have time to wind down. A week is just not enough. If you're an investor, the best thing going is that you have a long time to let your money work for you. But the one thing you don't want to be too long is your auto loan. An increasing percentage of car buyers are opting to stretch their monthly car payments far longer than the traditional four-year loan. Edmunds.com noted that in October, the average new car loan was 67 months, making it the second-highest average term on record.
NEWS
October 17, 2014
WHEN LAST WE heard from Hohenadel Brewery, the 19th-century East Falls landmark was wincing under the weight of a wrecking ball. It was 1997. Just one look at the stubborn but crumbling brick structure at Conrad Street and Indian Queen Lane told you it was time to pull the plug. The brewery that once proclaimed its "Well Earned Supremacy" could only sigh as it joined the likes of Gretz and Esslinger and Erlanger in the great Philadelphia pile of brewery dust. Indian Queen Ale . . . Rival Porter . . . Trilby Export - the brands that Hohenadel brewed till it closed in 1952 were gone and mostly forgotten.
NEWS
October 16, 2014 | By Jonathan Tamari, Inquirer Washington Bureau
WASHINGTON - Rep. Chaka Fattah's new chief of staff comes from a familiar place. He is the former chief operating officer of a nonprofit that Fattah founded - and that federal prosecutors say was at the center of a scheme to help the congressman repay an illegal campaign loan. Fattah, a Philadelphia Democrat, said he hired Roger Jackson, whom he has known for close to 30 years, because he was "a great guy who has done extraordinary work for a number of organizations. " Among the groups Jackson has played a top role in was the Educational Advancement Alliance, a charity Fattah created to help boost educational opportunities among people in need.
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