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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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NEWS
January 30, 2016 | By Bob Fernandez, STAFF WRITER
Comcast Ventures, the venture capital arm of the cable giant, has invested in Wilmington's College Ave Student Loans. The College Ave Student Loans start-up operates an online marketplace to connect college students with loans for college. Comcast Ventures, part of Comcast Corp., was the largest investor in a $20-million financing round that includes Fenway Summer Ventures, DW Partners and former Sallie Mae CEO Albert L. Lord. College Ave Student Student Loans launched in 2014 and originated its first college loan in January 2015.
NEWS
January 9, 2016 | By Jessica Parks, Staff Writer
Montgomery County has canceled a planned $75 million loan and will resume paying human services vendors now that state funds are flowing. The partial spending plan signed by Gov. Wolf on Dec. 30 released crucial funds to schools and counties, but did not address questions of revenue and cuts that have kept him and Republican legislators at loggerheads since June. "We did receive this morning . . . about $20.7 million in payments," the county's finance director, Uri Monson, told the commissioners at their meeting Thursday.
REAL_ESTATE
December 28, 2015 | By Alan J. Heavens, REAL ESTATE WRITER
Ken Weinstein wasn't sure how well the idea of gathering and training a force of residential developers to recycle housing in Germantown would play to the neighborhood. Nor was the developer certain that he could interest enough people in his idea, which included a revolving loan fund of $2 million to get Jumpstart Germantown off the ground. Since he announced his plan in March, Weinstein has taken 108 "mentoring" applications from experienced and would-be developers around the area, and 75 of them have completed nine-plus hours of training with experts in the field.
REAL_ESTATE
December 21, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
As with so many things, it all depends on whom you ask. The National Association of Realtors says the number of first-time buyers in the U.S. market declined a full percentage point between July 2014 and June 2015. In its annual "Profile of Home Buyers and Sellers," the Realtors' group places the blame on prospective home buyers' continued difficulty in obtaining mortgages. The Realtors' call for looser lending standards is nothing new. It echoes the National Association of Home Builders' complaint that tight credit is keeping construction at very low levels.
SPORTS
December 12, 2015 | By Marc Narducci, Inquirer Staff Writer
Earnie Stewart has recently started in his position as sporting director of the Union, and since the Major League Soccer offseason is so short, he has hit the ground running. The Union made a few trades this week and are also preparing for the Jan. 14 MLS SuperDraft, in which they will be selecting third and sixth overall in the first round. "There aren't enough hours in the day," Stewart said at an introductory news conference at Talen Energy Stadium (formerly PPL Park). The Union went 10-17-7 and missed the playoffs for the fifth time in their six seasons.
TRAVEL
December 7, 2015 | By Anna Maria DiDio, For The Inquirer
What could you do with $217? It is certainly not an insignificant amount of money, but would it change your life? That's what I intended to find out during my trip to the Dominican Republic with Women International Leaders (WIL) of Greater Philadelphia. WIL members contribute time, knowledge, and money to raise women's economic and social status, promote self-determination, and help them become community leaders. Early in the week, we toured the lush region of Monte Plata, the future site of Schools for Sustainability, which will teach and model green technology.
BUSINESS
December 5, 2015 | By Diane Mastrull, Inquirer Staff Writer
Since its launch last December, Kiva.org/Philadelphia, the crowdfunded small-business, no-interest lending program, has funded 57 loans totaling $261,000. Fund-raising is underway for an additional eight loans totaling $40,000, said Kiva spokesman Jason Riggs. Of the Philadelphia businesses that have received funding, 59 percent are owned by ethnic minorities, Riggs said. To qualify, small businesses create a profile at Kivazip.org, where they outline their business plans and crowdfunding loan goals.
NEWS
November 29, 2015 | By Jan Hefler, Inquirer Staff Writer
Habitat for Humanity of Burlington County has received a low-interest $420,000 loan from the New Jersey Economic Development Authority to purchase the building that houses its administrative offices and its ReStore center in Maple Shade. EDA chief executive officer Melissa Orsen held a press event at the center this week to raise awareness of the financing that the EDA offers to small businesses and nonprofits. "Organizations like Habitat for Humanity serve a dual purpose in our state's economy," Orsen said in a statement.
NEWS
November 5, 2015 | By Jacob Adelman, Inquirer Staff Writer
An investment fund operated by New York's Square Mile Capital Management has originated a $26.8 million mortgage loan for the Penrose Plaza shopping center in Southwest Philadelphia, the company said in a release on Tuesday. Square Mile Capital Partners is funding the center's recent acquisition and planned capital expenditures by a joint venture of Onyx Properties, Abrams Realty & Development, and Siguler Guff. The 261,000-square-foot property at 2900-3000 Island Ave. is anchored by a ShopRite supermarket.
NEWS
November 3, 2015 | By Susan Snyder and Jonathan Lai, Inquirer Staff Writers
Abigail Anderson had it all figured: With multiple loans, a work-study job and scholarships, she could pay for Immaculata University for all four years. Not anymore. Anderson, a freshman majoring in fashion merchandising, found out recently that after this year she will lose her federal Perkins loan, which amounts to almost $2,000. "It changes everything," said the Magnolia, Del., native, who will have to look for other scholarships, or turn to her parents, whom she said can't afford it. "Every little amount counts.
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