Indianapolis loans – Indynda http://indynda.org/ Mon, 10 May 2021 04:38:14 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.1 https://indynda.org/wp-content/uploads/2021/05/cropped-icon-32x32.png Indianapolis loans – Indynda http://indynda.org/ 32 32 Bittersweet / Holley misses Boston cut, but wins Circular Logic Marathon https://indynda.org/bittersweet-holley-misses-boston-cut-but-wins-circular-logic-marathon/ https://indynda.org/bittersweet-holley-misses-boston-cut-but-wins-circular-logic-marathon/#respond Sun, 09 May 2021 06:57:52 +0000 https://indynda.org/bittersweet-holley-misses-boston-cut-but-wins-circular-logic-marathon/ Andy Hunnicutt, left, accompanies Josh Holley as he nears the finish line of the Circular Logic Marathon at Seymour High School in Seymour, Indiana on Saturday, May 8, 2021. Holley entered the marathon with the goal of qualifying for the Boston Marathon. . He fell short of that goal, finishing just a few minutes in […]]]>


SEYMOUR – In the moments immediately following Saturday’s Circular Logic Marathon, Josh Holley was disappointed that he fell a little short of his goal of becoming the third Special Olympics athlete to qualify for the Boston Marathon.

But as the 22-year-old Columbus North graduate began to catch his breath, he was told he had won the 26.2 mile race, which boosted his spirits a few notches.

“It’s really good,” said Holley. “I didn’t even know I won the race. I had no idea. At least I won the marathon.

Holley’s official finish time was 3 hours, 2 minutes, 32.78 seconds. The provisional qualifying standard for the Boston Marathon is 3:00 a.m. for men aged 18 to 34.

Holley, who has high autism I, was on the verge of breaking three hours into the middle of the race. It had been between 6:45 am and 6:55 am for most of his first 14 miles before starting to lose pace a bit.

Bartholomew Brown Jennings (BBJ) Special Olympics coach Andy Hunnicutt cycled to pace Holley, who was averaging about 6:58 per mile.

“It was fun,” Hunnicutt said. “I try to keep him on pace, and he has an internal clock that goes back and forth, and he ran just 7 minutes per mile or just under for 26 miles. On the phone, I have a little app that gives it the beat, so we know we’re running somewhere in that beat from 6:55 a.m. to 7 a.m. He’s not quite on target, but he’s less than three minutes away.

After Holley led the first three of the 26 mile laps around Seymour High School, Joey Zeinner took the lead and held it for about the 20th mile. But Zeinner lost pace and Holley didn’t realize he was the leader when he passed him.

Joey Hibbett was second in 3: 06: 23.69. Zeinner was third in 3: 08: 24.41.

“I could have done better,” said Holley. “I absolutely wanted to stop at 25 miles, but I kept telling myself, ‘No’. I wanted so badly to stop. My IT group was hurting me so much. I was running in total pain.

The marathon was Holley’s fourth in the past two years and the first he has been able to complete without stopping. He was on track to break three hours and qualify for Boston in the 2019 Mill Race Marathon, but had an asthma attack around Mile 23 and, after recovering, finished in about 4.5 hours.

In September, Holley ran at the Fair on the Square Marathon in Danville. He had an asthma attack around Mile 18, but still ran 3:23.

Last month, Holley tried to qualify for the Carmel Marathon again. He dropped his inhaler around the 20th mile, but still set another personal best with a 3:10 finish.

On Saturday he broke his PR again.

“Partly because of Josh’s disabilities, he has a hard time keeping food, so we don’t get enough nutrition,” Hunnicutt said. “Now he drank better today during the race than he ever did, and I was really impressed with that. We didn’t have to stop. He has not had an asthma attack. He just did very well. I am delighted with him.

Next up for Holley, the Special Olympics State Games on June 12 in the state of Indiana. Holley was nominated as a potential contender for the US Special Olympics 2022 in Orlando, and Hunnicutt was nominated as a potential coach. If Holley makes those matches, he will try to qualify for the 2023 World Games in Berlin.

Holley and her recently injured running mate Randall Watts plan to run the Urban Bourbon Half Marathon in October in Louisville. Circular Logic Marathon Race Director Tara Johnson told Holley after Saturday’s run that the gym she owns, Jordan’s Barbell Club, will sponsor him at next year’s event.

“I will try to continue to qualify,” said Holley. “I’m going to run another marathon, maybe the Indianapolis Marathon. If we list the goals, the first goal would be to qualify for the Boston Marathon. My second goal is to be part of this American team.

But the main focus at the moment for Holley is to graduate from college. He earned associate degrees in Business Management and Business Marketing with honors from Ivy Tech a year ago this week and completed his first 10-week module with Purdue Global.

Holley recently started her second 10-week module with Purdue Global and could graduate as early as June 29. But after taking 24 hours of credit for the first 10 weeks, he plans to take that time a little easier and graduate in the fall.

When he graduates, Holley hopes to open a running store in Franklin. He has his eye on a building next to a bicycle store near Franklin College that is for sale.

“Her brother Kyle (Michaelis) will hopefully help her start the online store for us,” said their mom, Deana Holley. “With (Josh’s) disability he can get certain types of loans. Hope this helps him start his business.



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Biz2Credit Identifies San Jose as # 1 Among Top 25 Cities for Small Businesses in 2020 https://indynda.org/biz2credit-identifies-san-jose-as-1-among-top-25-cities-for-small-businesses-in-2020/ https://indynda.org/biz2credit-identifies-san-jose-as-1-among-top-25-cities-for-small-businesses-in-2020/#respond Thu, 06 May 2021 10:10:19 +0000 https://indynda.org/biz2credit-identifies-san-jose-as-1-among-top-25-cities-for-small-businesses-in-2020/ Enter Wall Street with StreetInsider Premium. Claim your 1-week free trial here. NEW YORK, May 6, 2021 (GLOBE NEWSWIRE) – Biz2Credit has identified San Jose as “America’s Best Small Business City” based on average annual earnings, credit scores, company age and Biz2Credit’s exclusive BizAnalyzer score, which takes into account the local business climate, including rents, […]]]>

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NEW YORK, May 6, 2021 (GLOBE NEWSWIRE) – Biz2Credit has identified San Jose as “America’s Best Small Business City” based on average annual earnings, credit scores, company age and Biz2Credit’s exclusive BizAnalyzer score, which takes into account the local business climate, including rents, labor costs, and tax rates. Biz2Credit reviewed the financial statements of 32,000 companies that requested small business loans – including companies that applied for PPP loans in 2020.

San Jose pushed San Francisco out of the top spot in the 2019 rankings. Other metropolitan areas in the top ten for small business growth in 2020 were: San Diego, Los Angeles, Boston, San Francisco-Oakland, New York, Tampa- St. Petersburg, Seattle and Sacramento. In these top 10 metropolitan areas, the top industries were: 1) professional, scientific and technical services, 2) retail trade, and 3) other services (except government). Although the cities located at the center of these metropolitan areas receive most of the acclaim, the Biz2Credit study measures metropolitan areas based on Census Bureau sectors, which encompasses a much more diverse range of businesses in a region than those of the urban areas of downtown.

Overall, the average annual revenues of small businesses in 2020 fell to $ 689K from $ 771K in 2019, a decrease of 10.6%. This reflects the direct impact of the economic toll of the coronavirus on small businesses, many of which have been forced to close due to pandemic mitigation efforts.

Surprisingly enough, average business owner credit scores rose 3.4% from 597 in 2019 to 617 in 2020. In fact, credit scores have increased across the board for consumers in due to the much higher savings rate due to pandemic closures. Based on Biz2Credit’s findings, the same holds true for business owners who might have saved on rent or other unpaid liabilities during government-mandated shutdowns.

“Relying heavily on credit scores is a poor predictor of business performance, but many lenders use them as a major factor in making business lending decisions,” said Arora. “To make smart lending decisions, a wider range of factors must come into play, especially when serving smaller businesses.”

Although real estate experts say suburban markets are booming because city dwellers want to escape the population density of urban areas and can work from home, new research points to strong economic fundamentals in big cities. keep them vibrant and attractive to small businesses. San Jose, California, a major hub for the tech industry, has benefited and maintained a strong economy for small businesses despite the pandemic.

“The Silicon Valley tech industry continues to thrive and San Jose is at the center of it all,” said Biz2Credit CEO Rohit Arora, one of the nation’s leading experts in small business finance, who supervised the research. “Miami, with its diverse economy, remains at the forefront. Just two years ago, it was the number one small business city in the country, and it still tops the list. It also benefited from being in a state where coronavirus mitigation restrictions on businesses were less severe.

For this analysis, Biz2Credit defined “small businesses” as businesses with fewer than 250 employees or less than $ 10 million in annual revenue. The 25 Best Cities for Small Businesses in 2020 (with 2019 ranking in brackets) are:

Ranking 2020 City (Ranking 2019)

  1. San José, California (4)
  2. Miami-Fort Lauderdale, FL (3)
  3. San Diego, California (6)
  4. Los Angeles, California (5)
  5. Boston, Massachusetts (8)
  6. San Francisco-Oakland, California (1)
  7. New York, NY (2)
  8. Tampa-St. Petersburg, FL (unrated)
  9. Seattle, Washington State (9)
  10. Sacramento, California (21)
  11. Orlando, FL (unrated)
  12. Washington, DC (7)
  13. Baltimore, Maryland (10)
  14. Denver, CO (unrated)
  15. Raleigh, North Carolina (22)
  16. Portland, OR (13)
  17. Philadelphia, PA (18)
  18. Saint-Louis, MO (unclassified)
  19. Charlotte, North Carolina (20)
  20. Chicago, IL (14)
  21. Riverside, CA (12)
  22. Minneapolis-St. Paul (25 years old)
  23. Detroit, MI (11)
  24. San Antonio, Texas (unrated)
  25. Phoenix, Arizona (16)

Tampa-St. Pete, Orlando, Denver, St. Louis, and San Antonio were previously not ranked in the 2019 study. Places that were ranked on the 2019 Biz2Credit list but not on the 2020 list this year were: Austin ( 15), Milwaukee (17), Cincinnati (19), Pittsburgh (23) and Atlanta (24).

Small businesses in technology hubs are booming. The Top 10 metropolitan areas by Annual revenue*

1. San Jose, California: $ 1,280,602
2. Miami-Ft. Lauderdale: $ 1,056,919
3. New York, NY: $ 1,035,781
4. Seattle, WA: $ 1,022,581
5. San Diego, California: $ 1,019,886
6. Los Angeles, CA: $ 961,298
7. San Francisco-Oakland: $ 882,112
8. Tampa-St. Pete, Florida: $ 844,073
9. Portland, OR: $ 832,234
ten. Washington DC: $ 795,106

* Average annual income measured in 2020 “A lot of these companies can easily allow their employees to work from home, which has actually been proven to increase productivity,” Arora said. “Places like Las Vegas, which thrives on tourism and related industries, have suffered a lot in 2020 due to the pandemic.”

Once sorted by Business Age (in months), cities in the Midwest and South had the youngest average business age, indicating start-up activity and growth. Indianapolis has emerged as a logistics hub, while the growth of new businesses in Phoenix, Dallas, Houston, and Orlando is an indication of demographic trends in which warmer, business-friendly state cities have become increasingly popular places.

The 10 youngest cities with the youngest companies (in months) were:

1. Indianapolis, IN: 62
2. Phoenix, AZ: 62
3. Dallas-Ft. Worth, TX 63
4. Houston, TX 64
5. Saint-Louis, MO 64
6. Raleigh, North Carolina 65
7. Chicago, IL 66
8. Birmingham, AL 67
9. Orlando, Florida 70
ten. Denver, CO 70

“With the exception of Indianapolis, which is a major logistics hub, start-up activity has been strongest in hot places like Phoenix, Dallas-Ft. Worth, and Houston, ”Arora said.

Once sorted by Credit score, technology hubs such as San Jose, San Francisco, New York and Boston posted the highest numbers.

1. San Jose, California: 650
2. San Francisco-Oakland 641
3. Los Angeles: 640
4. New York, NY: 638
5. Boston, MA: 637
6. Washington DC: 635
7. San Diego, California: 635
8. Raleigh, North Carolina: 632
9. Miami-Ft. Lauderdale: 631
ten. Tampa-St. Pete, Florida: 629

“Credit scores are generally better in areas with high annual incomes,” Arora explained.

About the Biz2Credit Best Small Business Cities in America studyBiz2Credit analyzed 32,000 businesses with less than 250 employees and less than $ 10 million in annual revenue across the country that have been in business for over a year.

About Biz2CreditFounded in 2007, Biz2Credit has organized over $ 3 billion in financing for small businesses. The company is expanding its cutting-edge technology into customized digital platform solutions for banks and other financial institutions, investors and service providers. Visit www.biz2credit.com or Twitter @ Biz2Credit, Facebook, and LinkedIn.

Media Contact: John Mooney, (908) 720-6057, john@overthemoonpr.com

Source: Biz2Credit

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White Farmers Continue Government Demand for Loan Forgiveness Indianapolis News | Weather Indiana https://indynda.org/white-farmers-continue-government-demand-for-loan-forgiveness-indianapolis-news-weather-indiana/ https://indynda.org/white-farmers-continue-government-demand-for-loan-forgiveness-indianapolis-news-weather-indiana/#respond Mon, 03 May 2021 19:29:00 +0000 https://indynda.org/white-farmers-continue-government-demand-for-loan-forgiveness-indianapolis-news-weather-indiana/ MADISON, Wisconsin (AP) – A group of Midwestern farmers sued the federal government on Thursday alleging they couldn’t participate in a COVID-19 loan forgiveness program because they were white. The group of plaintiffs includes farmers from Wisconsin, Minnesota, South Dakota and Ohio. According to the lawsuit, the Biden administration COVID-19 recovery plan provides $ 4 […]]]>


MADISON, Wisconsin (AP) – A group of Midwestern farmers sued the federal government on Thursday alleging they couldn’t participate in a COVID-19 loan forgiveness program because they were white.

The group of plaintiffs includes farmers from Wisconsin, Minnesota, South Dakota and Ohio. According to the lawsuit, the Biden administration COVID-19 recovery plan provides $ 4 billion to cancel loans to socially disadvantaged farmers and ranchers who are Black, Native American, Hispanic, Alaskan, Asian Americans, or Pacific Islander.

White farmers are not eligible, which amounts to a violation of the constitutional rights of the plaintiffs, the lawsuit argues.

“If plaintiffs were eligible for the loan forgiveness, they would have the opportunity to make additional investments in their property, expand their farms, purchase equipment and supplies, and otherwise support their families and local communities. », Indicates the trial. “Because complainants are not even eligible to apply for the program purely on the basis of their race, they have been denied equal protection of the law and therefore suffered prejudice.”

The US Department of Agriculture released a statement saying it is reviewing the lawsuit with the US Department of Justice, but that the USDA plans to continue offering loan discounts to “socially disadvantaged” farmers.

Lawyers for the conservative Wisconsin Institute for Law and Liberty have filed a lawsuit on behalf of white farmers in federal court in Green Bay.

The filing seeks a court order prohibiting the USDA from applying racial classifications when determining eligibility for loan modifications and payments under the stimulus package. He also seeks unspecified damages.

Minority farmers have argued for decades that they have been unfairly denied agricultural loans and other government assistance.

The USDA in 1999 and 2010 settled lawsuits against black farmers accusing the agency of discriminating against them.

Yet less than 2% of the Trump administration’s direct loans in 2020 went to black farmers. And some black farmers have criticized Agriculture Secretary Tom Vilsack for failing to address a backlog of discrimination complaints and for not hiring minorities for high-level positions.

Vilsack, who served under President Barack Obama and returned to the post after President Joe Biden took office, said in a statement last month that generations of socially disadvantaged farmers suffered from systemic discrimination and d ‘a cycle of debt. He has tried to assure minority farm groups that he will work to stem racism within the USDA.

Civil rights activists have hailed Biden’s stimulus package as a way to finally help farmers of color.



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Tucson and Phoenix among top 25 cities for recent college graduates https://indynda.org/tucson-and-phoenix-among-top-25-cities-for-recent-college-graduates/ https://indynda.org/tucson-and-phoenix-among-top-25-cities-for-recent-college-graduates/#respond Sat, 01 May 2021 15:57:24 +0000 https://indynda.org/tucson-and-phoenix-among-top-25-cities-for-recent-college-graduates/ Obtaining a college diploma is an important step in a young person’s financial life. At this point, millions of young adults a year in the United States enter the workforce, live in their own apartments for the first time, and manage their money while trying to have fun with people their age. Of course, with […]]]>


Obtaining a college diploma is an important step in a young person’s financial life. At this point, millions of young adults a year in the United States enter the workforce, live in their own apartments for the first time, and manage their money while trying to have fun with people their age. Of course, with student loan debt of up to $ 1.7 trillion and calls for President Joe Biden to forgive up to $ 50,000 largely unanswered, recent graduates need to make smart decisions about where. where they will live and work in order to have the capacity to repay their loans, to save money. and have fun. In this spirit, SmartAsset identified and ranked the best cities for new college graduates or the best cities for the promotion of 2021 graduates to kickstart their post-graduate lives – and Tucson and Phoenix both made it to the Top 25.


READ ALSO: Tucson and Phoenix see world’s worst property affordability change


To do this, we took into account a number of factors focused on employment, affordability and fun. For more details on how we found and analyzed our data, see the Data and Methodology section below.

This is SmartAsset’s seventh study of the Best Cities for New College Graduates. You can find the 2020 version here.

Main conclusions

• College graduates have more opportunities away from the coast. Six cities in the top 10 are located in the Midwest: Cincinnati, Ohio; Columbus, Ohio; Milwaukee, Wisconsin; St. Louis, Missouri; Madison, Wisconsin and Indianapolis, Indiana. While the Midwest has a reputation for being affordable, many of these Midwestern towns are college towns that also excel for our fun grade, with plenty of bars, restaurants, and kids.

• Your diploma will give you an advantage in the job market. The impact of a university degree on employment prospects should not be overlooked. On average, in the 106 cities we included in this study, the median income of college graduates is $ 54,751, according to 2019 census data. This is almost 31% more than the median figure of 2019 for the entire population aged 25 and over with income ($ 41,801).

1. Cincinnati, OH

Cincinnati is the best city for college graduates on our 2021 list, finishing seventh for affordability and tied for third for fun. This city has the eighth lowest median monthly rent ($ 660) and the 12th lowest cost of living ($ 19,713). Cincinnati also has the seventh highest score on the Yelp bar (3.98). And while not quite as high, Queen City still ranks 26th in work score, a top quartile ranking.

2. Columbus, OH

Columbus is home to Ohio State University, one of the nation’s largest universities. This city has the ninth highest restaurant Yelp score (4.08) and the 11th highest bar Yelp score (3.96). Columbus ranks 18th for employment score and 25th for relatively low unemployment in January 2021 (5.6%).

3. Milwaukee, WI

Milwaukee has plenty of fun options for college graduates, ranking seventh for fun. The average Yelp score for bars in this city is 3.99, the third highest in this study. People between the ages of 20 and 29 make up 18.23% of Milwaukee’s population, the 22nd largest group on the list.

4. Saint-Louis, MO

Saint-Louis is one of the more affordable cities in our study with the sixth lowest median monthly rent ($ 655 per month). The cost of living in Gateway City is $ 20,284, number 28. Saint-Louis also has one of the lowest unemployment rates of 2019 for those with a bachelor’s degree, ranking 17th at 1.6%.

5. Pittsburgh, Pennsylvania

Pittsburgh has the fourth largest population of people in their twenties (22.92%) and ranks 18th for fun. This city also has an affordable cost of living, ranking 16th with $ 19,928. But the median rent is $ 863, only 33rd the lowest on our list.

6. Lexington, KY

Lexington ranks 12th for our study’s amusing score. This city has the third highest average Yelp score (4.13) and the 24th largest population aged 20-29 (18.11%). Lexington also finished 17th for our accessibility score, supported by the 9th lowest cost of living ($ 19,526).

7. Madison, WI

Madison ranks first for our fun score and seventh for jobs. This city ranks second in the study for its 2019 unemployment rate for bachelor’s degree holders (0.7%) and its overall unemployment rate for January 2021 (3.4%). Madison has the largest population of people aged 20 to 29 in our study (26.25%).

8. Indianapolis, IN

Indianapolis ranks 20th for accessibility score. This city has the 17th-lowest median rent ($ 731) and the 23rd lowest cost of living ($ 20,165). Indianapolis also has the fourth-highest Yelp score for bars (3.99) and the fifth-highest for restaurants (4.12).

9. Nashville, TN

Nashville ranks second for entertainment score, with dining and entertainment accounting for 13.45% of all establishments (the sixth highest percentage in our study). This city also has the 25th largest population of people aged 20-29 (18.08%).

10. Louisville, KY

Louisville rounds out the top 10, ranking ninth in affordability. The median rent is $ 728 (16th in this study) and the cost of living is $ 19,646 (11th in total). Louisville also has the highest Yelp ratings in this study for bars (4.06) and restaurants (4.21).

Best Cities Methodology for University Graduates

To find the best cities for recent college graduates, we looked at data for the 106 largest U.S. cities in three categories comprising 10 individual metrics:

• Jobs. For our job score, we analyzed the overall unemployment rate, the unemployment rate for bachelor’s degree holders, the earnings of college graduates, and the number of Indeed job postings. The bachelor’s unemployment rate and college graduate earnings are from the U.S. Census Bureau’s 2019 American Community Survey one-year survey. The overall unemployment rate is as of January 2021, is taken from local unemployment statistics from the Bureau of Labor Statistics of the Bureau of Labor Statistics, and is measured at the county level. The Indeed job posting count is taken from the Indeed.com Job Search API, for which data was retrieved in March 2021.

• Affordability. For this score, we looked at the median monthly rent in each city as well as the cost of living. Median rent figures come from the 2019 Census Bureau Survey of U.S. Communities. The cost of living figures come from MIT’s Living Wage Calculator, for which the data was pulled in March 2021.

• Fun. To create this score, we looked at the concentration of entertainment and dining establishments, the percentage of the population aged 20 to 29, and the Yelp scores of restaurants and bars. The concentration of entertainment and restaurant businesses is taken from the Census Bureau’s 2018 County Business Patterns Survey and represents bars and restaurants as a percentage of all establishments. The population figures come from the 1-year survey of the American community conducted in 2010 by the Census Bureau. Yelp scores are taken from the Yelp.com API, for which data was pulled in March 2021.

First, we ranked each city in each metric, assigning equal weight to each metric, except the Average Yelp Restaurant Rating and the Average Yelp Bar Rating, which we weighted in half. We then averaged the rankings in the three categories listed above. For each category, the city with the highest average rating received a score of 100. The city with the lowest average rating received a score of 0. We created our final rating by calculating the average score for each city. for all three categories.



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Banks use PPP loans to find new customers, offer other services https://indynda.org/banks-use-ppp-loans-to-find-new-customers-offer-other-services/ https://indynda.org/banks-use-ppp-loans-to-find-new-customers-offer-other-services/#respond Fri, 30 Apr 2021 18:00:00 +0000 https://indynda.org/banks-use-ppp-loans-to-find-new-customers-offer-other-services/ (Illustration IBJ / Brad Turner) IThe ndiana banks charge a modest fee of up to 5% for the $ 4 billion in paycheck protection program loans they have processed over the past year. But the coronavirus relief program has also given these banks something more valuable. By helping borrowers secure vital financing that helped them […]]]>


(Illustration IBJ / Brad Turner)

IThe ndiana banks charge a modest fee of up to 5% for the $ 4 billion in paycheck protection program loans they have processed over the past year. But the coronavirus relief program has also given these banks something more valuable.

By helping borrowers secure vital financing that helped them weather the pandemic, banks say the PPP has helped them build relationships that could lead to many new business.

“Probably, in the longer term, the biggest benefit will be the goodwill gained by both current customers and the opportunity to gain new customers,” said Dan Maddox, CEO of New York-based Citizens State Bank. Castle. “There is a lot of loyalty built up going through this process.”

Citizens State is a small bank, with $ 700 million in assets and 12 locations in central and east-central Indiana, including offices in Carmel, Fishers and Pendleton.

Since PPP launched last April, Maddox said, his bank has processed about 1,100 PPP loans. About 25% to 30% of them went to borrowers who had no previous relationship with citizens.

“This has led to everything from depositary relationships to business loan relationships to mortgages,” Maddox said.

It is not uncommon for banks to attract new customers during bank mergers, economic downturns or other times of turmoil.

What’s different this time is that the effects of the pandemic, and by extension the demand for PPP loans, have been so rapid and widespread.

The P3 program was launched on April 3, 2020, with federal funding of $ 349 billion; he ran out of money in 13 days. The program was relaunched later that month with an additional $ 310 billion, then reopened in January with a new allocation of $ 284 billion.

To date, the program has approved 10.3 million loans totaling $ 770.7 billion nationally, including 85,065 loans in Indiana for a total of $ 4 billion. The application deadline ends on May 31.

Siefers

“You can use that one [PPP] situation as an opportunity to penetrate clients that otherwise would have taken years, “said banking analyst Scott Siefers, New York-based senior research analyst at Minneapolis-based Piper Sandler Cos.” It was truly a unique moment. for industry. “

For the National Bank of Indianapolis, P3s proved the key to opening a door the bank had knocked on for decades without success.

“We had a business that we had been using for 20 years, and thanks to PPP, we finally got them,” said Doug Talley, chief banking officer for the bank. He then transferred all of his activities to the bank, he said.

Talley said his bank has processed just over 1,600 PPP loans to date with a total value of $ 400 million. Of these, about 15% to 20% went to new customers.

Talley said almost all of these new borrowers have since transferred their businesses to the National Bank of Indianapolis. “It has been a huge positive for us.”

Gamble moore

Not all banks have seen such rapid success with P3s, but they are hopeful the business will come.

“I think it’s probably now that we’re going to see the fruits of the work we’ve put in with the PPP,” said Pat Gamble Moore, director of the Indiana Community Development Bank for Pittsburgh-based PNC Bank. .

Deep in the pandemic, borrowers have focused on day-to-day survival, Moore said. Now that the pandemic is abating, borrowers are in a better position to start thinking about future needs.

PNC has approximately 1,300 locations in 24 states, including more than 45 in the Indianapolis area.

Cincinnati-based First Financial Bank, whose 145 offices include 11 locations in the Indianapolis area, has already secured new business through PPP, said Jeff Magginnis, senior vice president of the Indianapolis-based bank.

The bank processed over 10,000 PPP loans, of which around 10% were for borrowers who were not clients of First Financial.

Magginnis

At this point, Magginnis said, it’s hard to say how many of these new PPP borrowers could become long-term clients. Some have already changed accounts or taken out loans, he said, and he believes others will follow.

“We have a good pipeline to become long-term bank customers,” Magginnis said.

Once the PPP program application period ends next month, he said, First Financial employees will contact all borrowers for follow-up conversations. “We hope that will affect personal loans, mortgages or the range of products offered by the bank.”

Siefers, the banking analyst, said community and regional banks in particular should see additional PPP activity, especially if they provided the personal assistance borrowers needed during the pandemic.

“To the extent that [banks] were there for a very acute time for their clients… which should be of value, ”said Siefers.

But, he added, it is too early to quantify how much investment banks will earn as a result of the PPP.

“I don’t think any of us really know that,” Siefers said. “This will be a situation that will evolve over a period of several years rather than several months.”

Banks also know that winning their business will take effort.

“It won’t happen by accident,” said Ray Webb, director of digital banking at Evansville-based Old National Bank.

The bank has 162 locations, including 17 in the Indianapolis area.

To date, Old National has processed approximately 1,600 PPP loans, of which approximately 13% have gone to new customers.

Cultivating these perspectives will take time, Webb said. “PPP kicked us out, but in the long run we have to win that relationship.” •



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Ohana Real Estate sells Montage Healdsburg for $ 265 million https://indynda.org/ohana-real-estate-sells-montage-healdsburg-for-265-million/ https://indynda.org/ohana-real-estate-sells-montage-healdsburg-for-265-million/#respond Fri, 30 Apr 2021 10:44:18 +0000 https://indynda.org/ohana-real-estate-sells-montage-healdsburg-for-265-million/ Ohana Real Estate sold Montage Healdsburg to Sunstone Hotel Investors for $ 265 million. The newly constructed hotel is located in Sonoma County and has 130 guest rooms. The impressive price is equivalent to $ 2 million per room, setting a new standard for luxury hotel transactions in the United States, according to the seller. […]]]>


Ohana Real Estate sold Montage Healdsburg to Sunstone Hotel Investors for $ 265 million. The newly constructed hotel is located in Sonoma County and has 130 guest rooms. The impressive price is equivalent to $ 2 million per room, setting a new standard for luxury hotel transactions in the United States, according to the seller.

This is the second time that Ohana has sold a hotel for $ 2 million per room. The premiere took place in 2019 when the investor sold the Montage Beverly Hills for $ 2.1 million per piece. At the time of the transaction, the price was the highest price per key in the country. In the case of the Montage Healdsburg, the price is particularly impressive given the dislocation of the hotel market caused by the global pandemic. James Cole, head of asset management at Ohana, says the deal illustrates the strong investor interest in quality hotels and the early stages of market recovery.

Despite the pandemic, Ohana remains optimistic about the hotel sector, believing that it benefits from an attractive supply-demand dynamic. During the pandemic he has been an active buyer of hotel products and intends to remain an active buyer this year. However, it is active in more than the hotel sector. As part of this transaction, Ohana retained ownership of the adjacent residential development sites and plans to develop custom residence sites affiliated with the property.

Although Ohana is bullish on the hospitality industry, struggling hotel assets continue to enter the market. Earlier this month, JLL’s loan and hospitality sales teams announced that they retained by a special CMBS managing agent to market the sale of an $ 80 million non-performing loan portfolio that includes six limited-service hotel guaranteed loans totaling 1,022 keys in five states. The portfolio includes two full service and four limited service hotels located in Lexington, Kentucky, Springfield, Virginia, King of Prussia, Pennsylvania, Indianapolis and Portage, Indiana, and West Coxsackie, New York. This is just one example. A recent study by Real Capital Analytics found that 8% of hotel sales since the start of the pandemic involved at least one struggling asset.

Montage Healdsburg is a sustainably designed property on 258 acres featuring multiple pools, a full-service spa, and multiple restaurants throughout the property. The hotel also has vineyards on site.



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O’Fallon Man Pleads Guilty to P3 Loan Fraud | USAO-SDIL https://indynda.org/ofallon-man-pleads-guilty-to-p3-loan-fraud-usao-sdil/ https://indynda.org/ofallon-man-pleads-guilty-to-p3-loan-fraud-usao-sdil/#respond Thu, 29 Apr 2021 14:40:07 +0000 https://indynda.org/ofallon-man-pleads-guilty-to-p3-loan-fraud-usao-sdil/ O’Fallon, Illinois – Jason Spengler (45), of O’Fallon, Illinois, pleaded guilty today to one count ofmake a false statement on a federal loan application. According to court documents, Spenglercommitted the felony offense last year when he sought help from the paycheck Protection Program (“PPP”) without revealing that his company, Spengler Plumbing Company, was inbankruptcy.The Coronavirus […]]]>


O’Fallon, Illinois – Jason Spengler (45), of O’Fallon, Illinois, pleaded guilty today to one count of
make a false statement on a federal loan application. According to court documents, Spengler
committed the felony offense last year when he sought help from the paycheck
Protection Program (“PPP”) without revealing that his company, Spengler Plumbing Company, was in
bankruptcy.
The Coronavirus Aid, Relief and Economic Security Act (“CARES”) was enacted in March 2020 for
provide emergency financial assistance to Americans suffering the economic effects of
by the COVID-19 pandemic. The federal PPP loan is one of the sources of relief provided for by the CARES Act.
program. Administered by the Small Business Administration (SBA), the program provided
loans to help eligible businesses during the COVID-19 crisis.

Debtors in bankruptcy were not eligible for PPP loans. The first question about applying for a loan
asked: “The plaintiff … is he currently involved in bankruptcy?” Above that
question, the application explained that the loan would not be approved if the applicant answered
“Yes.”

When Spengler applied for a PPP loan last year, Spengler Plumbing was in bankruptcy. But Spengler
checked “No” on the request, falsely certifying to the lender and the ASB that Spengler
The plumbing was not bankrupt. Due to this misrepresentation, Spengler Plumbing received a
PPP loan of $ 487,095 in April 2020.

As a bankrupt debtor, Spengler Plumbing was also required by law to obtain prior authorization.
bankruptcy court before incurring any new unsecured debt. But Spengler applied for the
government loan without notifying the bankruptcy judge, thus bypassing the guarantees put in place
by the SBA and the bankruptcy court.

“Together with US attorney Steve Weinhoeft and our law enforcement partners, we will continue to
prosecute fraud and abuse in bankruptcy cases, ”said Nancy J. Gargula, US Trustee for the region
10. The US Trustee Program is the part of the Department of Justice that protects the integrity
the bankruptcy system by overseeing the administration of files and complaining about bankruptcy enforcement
laws. Region 10 is headquartered in Indianapolis, with additional offices in South Bend, Indiana,
and Peoria, Illinois.

Sentencing is set for August 18, 2021 at the Eastern Federal Courthouse. Saint Louis. Load
door
a maximum sentence of five years in prison and a maximum fine of $ 250,000.

This case has been referred to the United States Attorney’s Office for prosecution by the United States Trustee for the region.
10, in conjunction with the Southern District of Illinois Bankruptcy Fraud Task Force.
The investigation was conducted by the Small Business Administration – Inspector’s Office
General. The case is being continued by Deputy United States Attorney Peter T. Reed.



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How can investors use market capitalization as a valuation measure? https://indynda.org/how-can-investors-use-market-capitalization-as-a-valuation-measure/ https://indynda.org/how-can-investors-use-market-capitalization-as-a-valuation-measure/#respond Wed, 28 Apr 2021 11:16:00 +0000 https://indynda.org/how-can-investors-use-market-capitalization-as-a-valuation-measure/ Market capitalization, or market capitalization for short, is a measure defined as the number of outstanding shares of a company multiplied by its share price. This measure can be used to compare companies in the same industry. On a Fool live episode recorded April 14, Fool contributors Brian Stoffel, Brian Feroldi and Brian Withers answer […]]]>

Market capitalization, or market capitalization for short, is a measure defined as the number of outstanding shares of a company multiplied by its share price. This measure can be used to compare companies in the same industry. On a Fool live episode recorded April 14, Fool contributors Brian Stoffel, Brian Feroldi and Brian Withers answer a viewer’s question on how to use the measure of market capitalization to think about the future potential of a stock.

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Brian Stoffel: I have one here from [viewer] Father FI said, “Can you explain to us how you use market cap as a valuation measure, is it all about bigger being better, or is there a sweet spot that you like?

Yeah, basically what you gotta do is spend some time in an industry to get a feel for how big a business can become. When Netflix (NASDAQ: NFLX) pivoted to becoming a streaming company and having their own content and then valuing them to the same level that a Blockbuster might have been 10 years earlier no longer made sense as they were creating their own content. You went on to say, maybe Netflix could be so important to say, there’s Disney sit at that market cap and here’s Netflix here. I could see how it could turn out. With Lemonade (NYSE: LMND), what I’m talking about is a $ 5 billion company, which in the public markets is considered a small to mid cap. But you can look at some of the bigger insurers and see that they are much more valuable. Then you can say, “Okay, I can see how Lemonade could become a much bigger valuation.” Again, the reason I chose market cap is because Brian Feroldi said it’s a really hard company to figure out what its growth path might be. like.

Brian Withers: Yes, and the market caps as you say they vary a bit. I remember when I first watched Netflix and thought of them as the Blockbuster replacement. Blockbuster, the biggest he ever got, was $ 6 billion. Netflix has far eclipsed that today. Definitely comparisons with Disney and other content studios, as well as streaming services. It’s in a category of its own now.

Brian Feroldi: If you go back in time and say, if you compare the market cap of Amazon at Walmart and said, well, that’s the limit.

Withers: Yes.

Feroldi: You were wrong in 5X and in counting. But I think watching this is extremely helpful. I just realize it’s not a one-to-one thing. Lemonade is a five billion dollar business I watched like Progressive Insurance. I realized that it was not an individual competitor, but that it was a $ 55 billion company, for example. Do you think Lemonade could be as successful as Progressive? Obviously with a totally different business model. Is it out of the question to think that Lemonade, if it does so well, could be as big as Progressive is today?

If you think the answer is yes, then it could be 10x from today, for example. My favorite is when I find a business that meets all of my criteria and is tiny. If it’s less than $ 500 million, for example, you’re thinking, wow, this thing might 10x and be even smaller than lemonade today. As is my favorite.

Withers: Yeah, it’s harder and definitely riskier to call whether they take that leap or not.

Feroldi: We had a question here about Coinbase (NASDAQ: PIECE), for example. If we are going to talk about it. So Coinbase just went public today and so Yahoo! is correct, which I don’t think so, but I think it’s about correct. Market capitalization today is $ 86 billion.

Stoffel: Wow.

Feroldi: Yes. What do you compare that to. good Charles Schwab is $ 127 [billion]. He’s basically as tall today as Charles Schwab. Is this a one-to-one comparison? I do not know. I mean, in theory, Coinbase could add customers globally, right? Is Charles Schwab more restricted? Well i dont know.

Stoffel: I think Intercontinental exchange, which has a ton of global markets, including the New York Stock Exchange, is only $ 66 billion.

Feroldi: Yes. Coinbase is bigger than the.

Stoffel: Intercontinental.

Feroldi: Than the NYSE. What would you say Nasdaq? How big is the Nasdaq? I don’t think the Nasdaq equals $ 20 billion or $ 25 billion, yes. Coinbase is the size of the Nasdaq and the NYSE. The companies, not all of the companies on these exchanges, but the companies themselves.

Needless to say, it’s big. It’s really big. Can you see Coinbase turning into a trillion dollar business?

Stoffel: This is a great way to use market capitalization.

Feroldi: Yes. For Coinbase at 10x as of today, it would take a trillion dollar business. Can this happen? I do not know. Perhaps.

Withers: Perhaps. Yes.

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of the board of directors of The Motley Fool. Charles Schwab is an advertising partner of The Ascent, a Motley Fool company. Brian Feroldi owns shares of Amazon, Netflix and Walt Disney. Brian Stoffel owns shares of Amazon. Brian withers owns shares of Lemonade, Inc. The Motley Fool owns shares and recommends Amazon, Intercontinental Exchange, Lemonade, Inc., Netflix and Walt Disney. The Motley Fool recommends Charles Schwab and Nasdaq and recommends the following options: January 2022 long calls at $ 1920.0 on Amazon and January 2022 short calls at $ 1940.0 on Amazon. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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US releases $ 8 billion to modernize nation’s power grid https://indynda.org/us-releases-8-billion-to-modernize-nations-power-grid/ https://indynda.org/us-releases-8-billion-to-modernize-nations-power-grid/#respond Wed, 28 Apr 2021 02:36:38 +0000 https://indynda.org/us-releases-8-billion-to-modernize-nations-power-grid/ The federal government said on Tuesday it was releasing more than $ 8 billion to build and improve the nation’s transmission lines as part of its efforts to improve America’s aging power grid and meet President Joe’s ambitious goals. Biden in terms of clean energy. The administration is also committed to speeding up a slow […]]]>


The federal government said on Tuesday it was releasing more than $ 8 billion to build and improve the nation’s transmission lines as part of its efforts to improve America’s aging power grid and meet President Joe’s ambitious goals. Biden in terms of clean energy.

The administration is also committed to speeding up a slow licensing process that has delayed the types of large transportation projects that are critical to meeting Biden’s goals.

The president has said he wants the nation to produce 100% clean energy by 2035. But that goal faces huge hurdles. These include an electricity grid that has been hit by climate change and needs a huge expansion to transport electricity from renewable energy sources to densely populated areas.

The Department of Energy has announced that it will release $ 8.25 billion in developer loans to improve the grid’s ability to transport renewable energy from the windy, sunny plains to areas with the most it. need.

“These investments will make our electricity system more resistant to threats and more reliable as we increase our clean energy capacity, thereby creating thousands of jobs,” Energy Secretary Jennifer Granholm said in a statement. .

There will be $ 3.25 billion in loans available for projects that unlock renewable energy in the western United States. Another $ 5 billion in loans will support transportation projects owned by federally recognized tribes and Alaska Native corporations, including transportation to connect offshore wind.

The Department of Transportation will help speed up site selection and authorization of transportation projects by making it easier to use public roads and other transportation rights-of-way, Transportation Secretary Pete Buttigieg said. It will also publish guidance that will help states build renewable energy projects and transmission lines.

Gaining the approvals needed to build large transportation projects that cross national borders often takes a decade or more, and that’s before construction begins.

The administration’s actions are a “giant first step” towards building the network of tomorrow, said Larry Gasteiger, executive director of Wires, a transmission industry trade group. “It is unprecedented to have an administration that so actively supports the necessary development of transmission in so many of its branches,” he said.

The need for more solar, wind and cables to carry electricity to homes as part of Biden’s plan is extraordinary.

The Americans for a Clean Energy Grid, a non-profit organization dedicated to modernizing and expanding North America’s high-voltage grid, released a report on Tuesday listing 22 out-of-the-box transportation projects that could boost the use of wind and solar energy and generate 1.2 million jobs. It would cost $ 33 billion to build those transmission lines, the group said.

If all 22 projects were completed, the 8,000 miles of cable could provide a 50% increase in the amount of wind and solar power on the US grid. But those 22 projects represent just 10% of the transport investments needed to completely decarbonise the electricity sector, the group said.

“People think that is actually not possible and that we as a country cannot make it happen, but a lot of these projects have been going on for over a decade, most of them are authorized, ”said Michael Skelly, founder of Grid United. , and co-author of the report, during a conference call Tuesday.

If these projects are successful, it will lead to more success, he said. “They can be launched in the next 12 to 36 months if we can just get a little nudge to get these projects over the top.”



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Comcast Rise Initiative Accepts Second Round of Minority Grant Applications – WISH-TV | Indianapolis News | Weather Indiana https://indynda.org/comcast-rise-initiative-accepts-second-round-of-minority-grant-applications-wish-tv-indianapolis-news-weather-indiana/ https://indynda.org/comcast-rise-initiative-accepts-second-round-of-minority-grant-applications-wish-tv-indianapolis-news-weather-indiana/#respond Mon, 26 Apr 2021 23:54:00 +0000 https://indynda.org/comcast-rise-initiative-accepts-second-round-of-minority-grant-applications-wish-tv-indianapolis-news-weather-indiana/ INDIANAPOLIS (WISH) – Additional financial assistance is available for minority business owners. Comcast Rise Completes Second Round Of Grants And There Is Still Time apply. Many businesses – if they’ve managed to stay open during the shutdown – are still struggling. And while the pandemic has affected everyone, blacks, natives and other people of color […]]]>


INDIANAPOLIS (WISH) – Additional financial assistance is available for minority business owners. Comcast Rise Completes Second Round Of Grants And There Is Still Time apply.

Many businesses – if they’ve managed to stay open during the shutdown – are still struggling. And while the pandemic has affected everyone, blacks, natives and other people of color have felt the impact a little more. This is why Comcast is mobilizing again to help.

Sweatboxx wellness center the owners were given the keys to their 16th Street and North Post Road location on March 7, 2020. Days later they would be faced with an unexpected challenge.

“We hadn’t even moved our gear and things like that,” said co-owner Suzette Sweatt.

A global pandemic has forced businesses in the state and county to shut down. Sweatt and her husband had to come up with a plan, but it took a while to get there.

“For the first few weeks it was a pity party. It was a crying party, but then we were like, ‘You have to come back and figure it out. So we had to pivot very quickly.

The loans have helped, as has the Comcast Rise Initiative grant created last year to help blacks, natives and other people of color who own small businesses.

“Part of the program is not just a check. We hope you are doing well. These are marketing services and branding. We help with website design, ”said Mike Wilson, Comcast public relations representative. “There are all kinds of features and functions besides just writing a check.”

Between February and April 2020, depending on National Bureau of Economic Research, 41% of Blacks, 35% of Latin Americans and 25% of Asian businesses have gone bankrupt. This is compared to 21% of businesses belonging to the “general population”.

“The disparity is real, and it’s something we want to fix,” Wilson said.

Sweatt said it has changed some of its business models to continue. And while there is some financial relief, she’s hoping we’ll get back to some level of normalcy.

Sweatt said it was important not to be discouraged. She applied a few times before receiving a scholarship.

The deadline to apply is May 7th.



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