March 14, 2015 |
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.
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.
February 22, 2015 |
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.
February 4, 2015 |
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.
January 8, 2015 |
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...
December 29, 2014 |
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.
December 11, 2014 |
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.
December 4, 2014 |
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.
November 11, 2014 |
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.