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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BUSINESS
June 20, 2015 | By Jacob Adelman, Inquirer Staff Writer
Nine years ago, New York-based investment-fund promoter CanAm Enterprises used money from overseas investors seeking U.S. visas to lend money to a hospice business in a sprawling Northeast Philadelphia office and warehouse complex. Six years later, CanAm took over the property while Home Care Hospice's operator fought Medicare-fraud charges that eventually got him a 14-year prison term. Now, CanAm, which has joined with Philadelphia Industrial Development Corp. on at least two dozen loans for job-creating businesses - may be closing the book on the troubled transaction.
NEWS
June 17, 2015
AS CLERGY, our lives revolve around the religious calendars. For our Jewish brothers and sisters, September's Yom Kippur is a time of quiet reflection and atonement, followed by the celebration of Rosh Hashanah, the Jewish New Year. Christians follow the familiar rhythms of the liturgical calendar, celebrating Christmas every December and Easter every spring. And nearly every spring for the last three years, clergy from across Pennsylvania sent urgent pleas to Harrisburg to stop predatory payday lenders who are seeking permission to charge usurious, triple-digit interest rates in the Keystone State.
NEWS
June 13, 2015 | By Jeremy Roebuck, Inquirer Staff Writer
Hatchet chops to the wrist, hammer blows to the fingers, and, if all else failed, menacing promises of visits from "Italian friends" in New York were among the threats deployed by a violent Albanian loan-sharking and gambling operation run out of a Mayfair bar. But as the group's leader, Ylli Gjeli, 49, was sentenced Thursday to 14 years in prison on federal racketeering conspiracy charges, he insisted that he - and not his borrowers - was the true...
SPORTS
May 18, 2015 | By Marc Narducci, Inquirer Staff Writer
The Union have confirmed that goalie Brian Sylvestre's short-term loan has been extended for eight weeks. Sylvestre was on a short-term loan from the Carolina RailHawks of the North American Soccer League. In addition, the Union loaned rookie forward Dzenan Catic to the RailHawks. Catic has not seen action this year for the Union. The Inquirer reported on Friday that the deal was agreed to , but it had to await approval from Major League Soccer. Sylvestre is expected to be the starter in Sunday's 7 p.m. game at PPL Park against D.C. United (6-1-3)
BUSINESS
May 16, 2015 | By Erin Arvedlund, Inquirer Staff Writer
  The Consumer Financial Protection Bureau (CFPB) on Thursday began a public inquiry into student loans. The bureau is seeking information from the public including: industry practices that create repayment challenges; hurdles for distressed borrowers; and economic incentives that may affect the quality of loan servicing. To give information about your student loan repayment problems, visit the CFPB's website ( www.consumerfinance.gov ). The CFPB asks the public to not include account numbers or Social Security numbers when filing.
BUSINESS
May 9, 2015 | By Joseph N. DiStefano, Inquirer Staff Writer
One of the bank bosses accused of lying to investors and regulators says it was a long-standing practice at the former Wilmington Trust Corp. to claim that millions of dollars in "turd loans" to developers were being paid - even when they were not. It wasn't the only bank that collapsed amid the late 2000s financial crisis. Lehman Bros., Wachovia, National City and others were also overwhelmed by bad loans. But Wilmington Trust, the biggest bank still based in the Philadelphia area when regulators forced its discount sale to M&T Bank Corp.
BUSINESS
May 6, 2015 | By Jacob Adelman, Inquirer Staff Writer
National Real Estate Development has closed on a $141 million construction loan with insurer Ullico for an 18-story residential and retail tower at 1100 Market St., part of the company's $500 million East Market project. The loan will allow the start of construction on the $117.5 million building, which will include 322 apartments, along with a MOM's Organic Market and other shops and restaurants, the company said in a statement. The new tower, along with the redevelopment of the adjacent Family Court Building at 34 S. 11th St., make up the first phase of the East Market project, bounded by 11th and 12th Streets, from Market to Clover.
NEWS
April 17, 2015 | By Paul Nussbaum, Inquirer Staff Writer
The Delaware River Port Authority board on Wednesday approved an $800,000 loan guarantee to help keep the Battleship New Jersey operating as a tourist attraction on the Camden waterfront. The DRPA board originally guaranteed a $1 million loan in 2003 to the Home Port Alliance, which operates the battleship, and has renewed the guarantee every three years since. The amount was whittled down to $900,000 in 2012 and to $800,000 this year. The loan guarantee, approved Wednesday for a 10-year period, is in addition to grants of $11 million made by the DRPA to the Home Port Alliance between 2000 and 2005.
NEWS
April 13, 2015 | By Erin E. Arvedlund, Inquirer Columnist
Did you borrow for college and end up the victim of a sky-high-interest student loan? A new group, Debt Collective, says it's time to go on a "debt strike. " That is, stop paying. An outgrowth of Occupy Wall Street, Debt Collective is a year-old activist organization rallying financially strapped students of the now-defunct Corinthian Colleges. The strikers are mostly young adults, including some single parents, who borrowed from Corinthian's lending arm at up to 14 percent annually.
REAL_ESTATE
April 6, 2015 | By Erin Arvedlund, Inquirer Staff Writer
John and Melissa Lattanzio realized last year that they were priced out of the red-hot real estate market in Fishtown, so they began looking for a house in nearby Olde Kensington. "The options seemed to be a house that would need a lot of updating, or a quickly and generically rehabbed house," said Melissa Lattanzio. "We had lived in Fishtown for eight years and knew the neighborhood. But the construction and investors were driving up prices. Sellers wanted all cash in many cases.
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