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BUSINESS
March 17, 2015 | By Jane M. Von Bergen, Inquirer Staff Writer
Exhausted after his shift as a waiter, Richard P. Miller, then a 21-year-old college senior, jumped into his rickety Volkswagen bug and headed back to his school. He didn't make it. "I fell asleep at the wheel and hit a bridge abutment going about 40 m.p.h.," said Miller, now 62, president and chief executive of Virtua Health Inc., the three-hospital health system based in Marlton. Helicoptered to a shock-trauma unit in Maryland, "I actually ended up on a ventilator and I ended up on dialysis and wasn't given much chance," he said.
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
February 26, 2013 | By Sam Wood, PHILLY.COM
A North Jersey mobster, who admitted to participating in the affairs of Philadelphia's La Cosa Nostra, was sentenced today to a 55 month term in federal prison. Louis "Big Lou" Fazzini, 45, pleaded guilty in October to a racketeering conspiracy charge linked to a mob-controlled gambling and loan-sharking operation. A self-described "made" member of the mob, Fazzini, of Caldwell, operated a sports bookmaking business and ran a social club in northern New Jersey where illegal gambling on card and dice games occurred regularly.
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.
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SPORTS
March 20, 2015 | By Marc Narducci, Inquirer Staff Writer
Midfielder Danny Cruz, who played in 70 games the previous three seasons for the Union, has been loaned to a team in Norway. Cruz, 25, will play for FK Bodo/Glimnt of Tippeligaen, the top division in Norway. The loan is for the 2015 season. "He needs to be getting 90 minutes, and we thought at this moment in his career it was more likely to happen in Norway," coach Jim Curtin said Wednesday. "This will be a great experience for him. He will see a new league, get different challenges that come with that, and hopefully when he comes back he will be better than ever.
BUSINESS
March 17, 2015 | By Jane M. Von Bergen, Inquirer Staff Writer
Exhausted after his shift as a waiter, Richard P. Miller, then a 21-year-old college senior, jumped into his rickety Volkswagen bug and headed back to his school. He didn't make it. "I fell asleep at the wheel and hit a bridge abutment going about 40 m.p.h.," said Miller, now 62, president and chief executive of Virtua Health Inc., the three-hospital health system based in Marlton. Helicoptered to a shock-trauma unit in Maryland, "I actually ended up on a ventilator and I ended up on dialysis and wasn't given much chance," he said.
BUSINESS
March 14, 2015 | By Andrew Maykuth, Inquirer Staff Writer
SolarCity Corp., the nation's largest rooftop photovoltaic developer, is hoping a new day is dawning for solar in Southeastern Pennsylvania. The San Mateo, Calif., company announced Thursday a bundle of new financing options aimed at customers in the Peco Energy Co. service territory. SolarCity and its competitors typically install their systems on customers' roofs for no money down. The campaign is aimed at reversing the shrinkage in the Pennsylvania solar market, which went into hibernation after 2011, when federal and state incentives dwindled.
NEWS
March 12, 2015
J OHN LI, 29, and Jeff Zhou, 26, both of Center City, co-founded Fig Loans, a startup that aims to provide small, short-term loans to borrowers who otherwise would be payday- or pawn-loan customers. Fig is a semifinalist in the Business Plan Competition at Wharton, where Li and Zhou are MBA students. I spoke with Li. Q: How'd you come up with the idea for Fig Loans? A: I looked at the balance sheet of a public payday lender, and they have a 10-percent profit margin, 30 percent is advertising, 30 percent is loan losses and 30 percent is overhead.
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 Jake Kaplan, Inquirer Staff Writer
The Union's goalkeeper carousel will officially feature one fewer participant this season. The club announced Tuesday that it loaned Zac MacMath to the Colorado Rapids. In return, the Union received the Rapids' lowest second-round pick in the Jan. 15 SuperDraft, at this point the 41st overall selection. If the Rapids were to keep MacMath permanently, they would send the Union their best first-round pick for next season. With two months before the March 7 season opener - ironically enough against Colorado at PPL Park - Rais Mbolhi and Andre Blake are the Union's goalkeepers.
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.
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