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
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.
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.
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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.
NEWS
May 19, 2016 | By Jeremy Roebuck, Staff Writer
Late in the 2007 mayoral race, U.S. Rep. Chaka Fattah sought a meeting with a very wealthy man - perhaps one of the few who could save his struggling campaign. Al Lord, CEO of Sallie Mae - then the largest student-loan financier in the world - had supported the congressman in the past. And at an April meeting in the lobby of the former Four Seasons Hotel Philadelphia on Logan Square, Fattah made his pitch. "In terms of his prospects, it was bad news," Lord recalled before a federal jury Tuesday.
BUSINESS
May 14, 2016 | By Alan J. Heavens, REAL ESTATE WRITER
Pennsylvania has relaunched its popular program offering low-interest, fixed-rate financing for energy-efficient home improvements almost two years after it went dormant for lack of funding. State officials, including Treasury Secretary Timothy Reese and Department of Environmental Protection Secretary John Quigley, gathered at the South Philadelphia home of Lizzie Rothwell and John Beauregard on Thursday to announce resumption of the Keystone Home Energy Loan Program. Rothwell and Beauregard used a loan from the program to insulate their 800-square-foot South Seventh Street rowhouse and upgrade its systems two years ago. KeystoneHelp, as the program is known, provided loans totaling $110 million to 14,000 homeowners statewide in the eight years after it began in 2006.
NEWS
May 13, 2016 | By Walter F. Naedele, STAFF WRITER
After Robert W. Padgett married Barbara Carpenter in June 1958, he enlisted in the Army in September and was sent to a base in northeastern France. Though only a private, he had a friend in a sergeant, who helped get him a three-day pass in November. So when Mr. Padgett's wife arrived at a Paris airport that month, she met not only her husband but also the sergeant and his wife, who had driven him to this once-in-a-lifetime reunion. During their time in Paris, the Padgetts dined at the restaurant high on the Eiffel Tower.
NEWS
April 20, 2016
That old saying about the road to hell being paved with good intentions should be the epitaph for the Minority Venture Partnership, an unsuccessful program run by the defunct Philadelphia Commercial Development Corp. that failed miserably to deliver on its promise to create jobs. MVP was created in 1993 using $1.5 million in state money and $500,000 from PNC Bank. Gov. Robert Casey and Mayor Ed Rendell said another $8 million would be raised for the fund within a year, but that never happened.
BUSINESS
April 15, 2016 | By Diane Mastrull, Inquirer Staff Writer
Bank of America is doubling its investment in the Tory Burch Foundation Capital Program that includes Philadelphia, providing a total of $20 million in loans for women entrepreneurs for 2016 and 2017. Entrepreneur Works is the community development financial institution administering the funds in Philadelphia. Through that partnership, it will be able to offer a 2 percent interest-rate reduction on loans for qualifying borrowers, according to a statement by Bank of America. Since the Tory Burch program's inception in 2014, Entrepreneur Works has issued $173,000 in loans to 16 women owning small businesses in Philadelphia.
SPORTS
March 7, 2016 | By Marc Narducci, Staff Writer
GOALKEEPERS (3) Andre Blake (6-foot-1, 170 pounds, age 25) After appearing in just seven games over his first two seasons, this former overall No. 1 MLS SuperDraft selection from Connecticut is ready to assume the starting role. Also a member of the Jamaican national team, he is as athletic as any keeper in MLS. Matt Jones (6-3, 180, 29) The Union acquired the English-born keeper via loan from Belenenses of Portugal's Primeira Liga. He was on loan last year to C.D. Tondela, also in Portugal's top division.
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