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Thursday, 10-Oct-2013 03:19 Email | Share | | Bookmark
Nab Raises Cost Of Some Business Loans








Natixis Said to Consider Hiring for Loan Business in Australia





NAB will increase the liquidity margin that applies on some of its business loans by 20 basis points, from July 30. The bank says the liquidity margin only applies to some market-linked loans that are targeted primarily at mid to large businesses which want to access funding for short periods. NAB says the vast bulk of its small business customers will not be affected by the increase, because they generally use variable rate loans. In an indication the spectre of independent rate rises by the banking sector more broadly has not gone away, NAB says the liquidity margin increase has been driven by rising funding costs. The bank says the interest rate on term deposits is at an all time high relative to the Reserve Bank's cash rate, and that its wholesale funding costs also remain high. NAB's group executive business banking Joseph Healy says the bank wants to keep customers informed about the funding pressures. "NAB is committed to being transparent about our funding costs and explaining the portion of our customers total rate that is attributed to cost of funds," he said in a statement. <br>For the original version including any supplementary images or video, visit http://www.abc.net.au/news/2012-07-24/nab-raises-liquidity-margin-on-business-loans/4151486









The lender is looking to hire people in leveraged and project finance-related roles in the country, the people said, asking not to be identified because the details are private. Isaure Gruffaz, a Paris-based spokeswoman for the bank , declined to comment on any hiring plans. Natixis is considering the boost in lending activity as Lloyds Banking Group Plc, Britains biggest mortgage lender, tries to sell its unprofitable Australian business. Westpac Banking Corp. (WBC) , National Australia Bank Ltd. and Macquarie Group Ltd. have made bids for the assets in Australia , two other people familiar with the matter said this week. In January last year, Natixis closed its Australian origination activities in project and acquisitions finance, according to documents filed with the Australian Securities & Investments Commission. <br>For the original version including any supplementary images or video, visit http://www.bloomberg.com/news/2013-08-15/natixis-said-to-consider-hiring-for-loan-business-in-australia.html





A new system for business loans in Palau | Pacific Beat





And now people can get a loan if they've got a motor vehicle or a tractor or something like that. Will this open up a whole new audience of people who'll be able to get loans? REID: Eh, certainly. I think in countries where they've adopted similar types of systems, we see a steady increase in the numbers of security interests over movable property that are actually recorded. So it does provide a significant https://commercial12.jux.com/299425 opportunity, subject, of course, to all the other variables that, or the other factors that lenders take into account when providing finance. RICE: So does this then lead to more business, do you think? REID: Well, that's the hope, a greater ability for businesses to borrow money and leads to greater growth, greater jobs etc. RICE: You say it's been put on the internet. Is that part of the reason why it's more attractive to banks that they can actually access all the information and see it plainly in public view? REID: Yes, absolutely, and it lowers the transaction cost, not only for the lender, but certainly for the borrower. <br>For the original version including any supplementary images or video, visit http://www.radioaustralia.net.au/international/radio/program/pacific-beat/a-new-system-for-business-loans-in-palau/1077082





Australian Central Savings & Loans now People's Choice





No Cookies To use this website, cookies must be enabled in your browser. To enable cookies, follow the instructions for your browser below. Enabling Cookies in Internet Explorer 7, 8 & 9 Open the Internet Browser Click Tools> Internet Options>Privacy>Advanced Check Override automatic cookie handling For First-party Cookies and Third-party Cookies click Accept Click OK and OK Click Tools>Options>Privacy<Use custom settings for history Check Accept cookies from sites Check Accept third party cookies Select Keep until: they expire Click OK Enabling Cookies in Google Chrome Open the Google Chrome browser Click Tools icon>Options>Under the Hood>Content Settings Check Allow local data to be set Uncheck Block third-party cookies from being set Uncheck Clear cookies Enabling Cookies in Mobile Safari (iPhone, iPad) Go to the Home screen by pressing the Home button or by unlocking your phone/iPad Select the Settings icon. Select Safari from the settings menu. Select 'accept cookies' from the safari menu. Select 'from visited' from the accept cookies menu. <br>For the original version including any supplementary images or video, visit http://www.adelaidenow.com.au/business/australian-central-savings-loans-now-peoples-choice/story-e6frede3-1226082760742



Monday, 7-Oct-2013 18:35 Email | Share | | Bookmark
Banks Say Small Business Loans Riskier Than Ever








62 percent of Australian small business debt is now overdue.





Representatives from Westpac, St George and ANZ have appeared before the parliamentary committee which is looking at the ability of small and medium businesses to access finance. The committee says there is a public perception that banks are taking less risks, but earning big profits. The Reserve Bank of Australia told the hearing in Sydney that lending to small business is still below levels before the Global Financial Crisis of 2008. But the RBA's Guy Debelle says lending to small business does appear to be slowly increasing. "We are seeing some signs that the banks are looking to compete more aggressively for small business," he said. "So if you think about where things were in 2007, the standards were relatively easy. "They tightened up over the subsequent couple of years, but now there does seem to be some sign that banks are willing to lend." But the chief product officer for Westpac, Jim Tate says that nearly three years after the GFC, it is still a risk for banks to lend money. "At the moment it is a much riskier proposition to borrow and raise money than it would have been four to five years ago," he said. "In terms of where the bank has to go to get its money, the risks have never been higher." <br>For the original version including any supplementary images or video, visit http://www.abc.net.au/news/2011-03-11/banks-say-small-business-loans-riskier-than-ever/2658426





Money flowing into California's small-business loan programs





This reserve can be tapped by the bank if the loan fails. The bank and the borrower also contribute to the reserve about 2% of the loan each. CalCAP also provides loans in partnership with the California Air Resources Board for truckers to help them comply with the state's new air-quality rules. The federal funding is being split between the two state programs. SBLGP is putting its $28 million into a trust fund that will help pay a lender if a loan issued under the program goes bad. Bob and Ruth Mitchell used a loan guaranteed by the SBLGP in 2008 to start Wide Scanners & Systems Inc. The company, run out of the couple's home in Rancho Cucamonga, wholesales wide-format scanners used to produce large documents, such as architectural plans. <br>For the original version including any supplementary images or video, visit http://articles.latimes.com/2011/apr/11/business/la-fi-smallbiz-loan-20110411





Loan agreements – 6 key clauses to watch





Whenever the RBA decreases the cash rate target, BBSW will also decrease, and hence the amount of interest the borrower is required to pay will also decrease. The reverse is of course also true. A floating rate loan agreement is more flexible and generally works better for businesses that are exposed to economic fluctuations. Its also important you check out the default interest clause. Default interest is charged if a borrower misses a payment on any amount which is due. Its important that the default interest rate actually reflects the costs to the lender of not receiving payment in time, otherwise it wont be enforceable. 2. Repayment You need to carefully check whether the loan in question is repayable on demand or at the end of a fixed term. <br>For the original version including any supplementary images or video, visit http://www.dynamicbusiness.com.au/finance-cash-flow/loan-agreements-6-key-clauses-to-watch-12092013.html









Thursday 06 June 2013 Article by Kevin Boyle Small businesses in Australia are now overdue on around 62 percent of their combined $10.4 billion debts but the liability is not equal between states, reports the News Limited Network. Theaveragesmallbusiness now owes around $18,624 according to the findings of new research by the Commonwealth Bank. And although 62percentof Australian small business debt is now overdue, it varies significantly state-to-state. Around 78percentof the $4.4 billion small business debt in New South Wales is now overdue compared to just 22 percent of Western Australia's $236 million debt. While the success of the mining economy passing onto businesses within the state was a proposition for the variance, the 66percentoutstanding of Queenslands $1.9 billion debt would make this imprecise. Interestingly, of the 761 small businesses surveyed that were low doc business loans Adelaide earning less than $2 million, around 57 percent of them agreed that making late payments is standard practice, while 29 percent admitted withholding payments for the benefit of their own cash holdings. But this doesn't just impact their business said Commonwealth Bank manager of local business, Adam Bennet. "When they are paying late it creates a domino effect so they are more likely to pay their own suppliers late." Mr Bennet also urged that businesses finding themselves in a difficult position should seek assistance early, whether from a business coach, bank or else where. Business owners looking for the best business banking products for their companies finances can compare business banking accounts, savings accounts, loans and credits cards on Mozo . Have a question about business bank accounts? Ask the gurus on Mozo Answers . <br>For the original version including any supplementary images or video, visit http://mozo.com.au/business-banking/articles/62-percent-of-australian-small-business-debt-is-now-overdue/3408508037



Saturday, 5-Oct-2013 10:23 Email | Share | | Bookmark
Aussie Low Doc Loan Defaults At Record Levels








Record-Low Rates Keep Australia Loan Arrears Stable, Fitch Says





But Moody's Investors Service noted that the overall level of defaults and personal bankruptcy was still relatively low, and that Australia's non-conforming loan sector does not resemble the troubled US sub-prime sector. Moody's found that during the second quarter of calendar 2007, average non-conforming residential mortgage backed security delinquencies greater than 90 days past due rose to about 6.5 per cent, from 5.97 per cent in the 2006 first half and 4.63 in 2005. "Delinquency rates have trended upwards for the past 18 months as a result of rising interest rates, riskier trends in mortgage origination, and high levels of household indebtedness," Moody's analyst Ilya Serov said. She said the impact of a 25 basis point rise in the official cash rate to 6.5 per cent in August by the Reserve Bank of Australia was yet to play out. "There is a natural lag between rate rises and changes in borrower behaviour and, as such, we expect the negative performance trend to continue," Ms Serov said. However, she said record low unemployment was keeping overall delinquencies at historical lows. <br>For the original version including any supplementary images or video, visit http://www.smh.com.au/news/business/aussie-low-doc-loan-defaults-at-record-levels/2007/08/27/1188067004811.html





Low-doc loan market too juicy for the big banks





However, one of the banks could buy a non-conforming lender and keep it operating under a separate brand. For the moment, the banks are content to build up their share of the low-doc market. Macquarie Research analyst William Ammentorp says the risks involved in low-doc lending are manageable. He cites research by Bluestone Mortgages showing that a high number of self-employed borrowers live in the wealthier suburbs of Sydney and Melbourne, including Vaucluse, Manly and Brighton. The big banks control the risk by requiring borrowers to take out no doc loans for business Gold Coast mortgage insurance, or to contribute a certain amount of equity. NAB requires 40 per cent equity in a low-doc loan and has capped home loans at $1.5 million, and business loans at $750,000. <br>For the original version including any supplementary images or video, visit http://www.theage.com.au/news/Business/Lowdoc-loan-market-too-juicy-for-the-big-banks/2005/04/01/1112302233136.html









The proportion of prime home loans between 30 and 59 days late was at 0.59 percent, the lowest post-Christmas level since March 2006, the ratings company said in a statement today. Mortgages more than 30 days late rose to 1.48 percent in the first three months of 2013 from 1.46 percent in the fourth quarter of 2012, it said. Australias macroeconomic environment will continue to remain stable in 2013 due to low levels of unemployment and strong gross domestic product, analysts led by Hai Duong Le in Sydney wrote in the report. Low interest rates will continue to assist borrowers serviceability and ease the debt burden. The Reserve Bank of Australia lowered borrowing costs by 2 percentage points since November 2011 to 2.75 percent, and the unemployment rate fell to 5.5 percent in May from 5.6 percent in April. Almost half of all borrowers surveyed by QBE Insurance Group Ltd. (QBE)s lenders mortgage insurance unit were able to get ahead on repayments last year, thanks to the central banks rate cuts, the company said this week. Self-employed borrowers are lagging others, with delinquencies rising to 7.57 percent in the quarter ending March 31 from 7.05 percent in the prior three months. <br>For the original version including any supplementary images or video, visit http://www.businessweek.com/news/2013-06-19/record-low-rates-keep-australia-loan-arrears-stable-fitch-says



Thursday, 3-Oct-2013 02:13 Email | Share | | Bookmark
Photo Release -- Small Business Grant Helps New Mexico Business












Roybal said. "We're really happy with what we got, and it helped us out a lot." The building contains a dehydrator, which can process 50 to 60 pounds of raw meat per batch. Over the years the Roybals have experimented with a variety of flavors, and now offer green chili, chili caribe, lemon pepper, garlic pepper, chili pequin, pepper, and of course, original (salted) beef jerky. The beef jerky is sold at trade shows, rodeos, state fairs, and other events. Mrs. Roybal said she is working with the U.S. Department of Agriculture to get The Crave Beef Jerky into stores. "I'm working 13- to 14-hour days just getting this business going," Mrs. <br>For the original version including any supplementary images or video, visit http://finance.yahoo.com/news/photo-release-small-business-grant-201253618.html





Loan agreements – 6 key clauses to watch





Whenever the RBA decreases the cash rate target, BBSW will also decrease, and hence the amount of interest the borrower is required to pay will also decrease. The reverse is of course also true. A floating rate loan agreement is more flexible and generally works better for businesses that are exposed to economic fluctuations. Its also important you check out the default interest clause. Default interest is charged if a borrower misses a payment on any amount which is due. Its important that the default interest rate actually reflects the costs to the lender of not receiving payment in time, otherwise it wont be enforceable. 2. Repayment You need to carefully check whether the loan in question is repayable on demand or at the end of a fixed term. If the loan is repayable on demand, you need to be in a position to repay it at any time. This makes planning your business expenditures extremely difficult. Generally you will want to enter into a fixed term loan. <br>For the original version including any supplementary images or video, visit http://www.dynamicbusiness.com.au/finance-cash-flow/loan-agreements-6-key-clauses-to-watch-12092013.html





Bank wars: what’s in it for small business?





NAB has knocked the breath out of its competitors with its UBank online home loans that offer significantly lower interest rates, discounted variable rate mortgage after three years and zero fees. Great news for the average consumer but whats in it for small business? With whispers that the onslaught has only just begun, this space could soon get very no doc loans for business NSW interesting. So far, unless you are refinancing your home loan, the benefit is not obvious, but Westpac has already indicated its out to woo business customers and, as confidence increases, is looking to amp up the competition for business credit and business loans. There is a link between home loans and business transaction accounts, however. Business people tend to keep the same provider for both home loan and business transaction accounts so the NAB grab at the home loan market is also an indirect grab for the business customer. As things pick up for business small business owners are less likely to self fund any cashflow shortfalls from their mortgage, instead opting for a line of business credit, overdraw facility on their business account, or business loan. No wonder the Commonwealth Bank head of retail banking, Mr Ross McEwan, has come out recently to publicly state that CBA is planning to hold its position as the number one bank in the Australian mortgage market, while Westpac is trying to make it easier for mortgagees to switch. So if youre a business owner, and youre in the market for a mortgage, dont be afraid to haggle. The bank wars are a great opportunity for you to leverage your position and try for an even better deal on fees, rates and flexibility, both on your home loan and your business banking needs. Tags: <br>For the original version including any supplementary images or video, visit http://www.dynamicbusiness.com.au/finance-cash-flow/bank-wars-whats-in-it-for-small-business-2322011.html



Monday, 30-Sep-2013 18:08 Email | Share | | Bookmark
Low Taxpayer Risk With Low-doc Loans








The Lowdown on Low-Doc Loans





"Can't claim it is risk free, but we claim our approach minimises the exposure to taxpayer," Australian Office of Financial Management (AOFM) chief executive Rob Nicholl told a parliamentary committee in Canberra on Friday. Mr Nicholl said the AOFM had no sub-prime loans among the mortgages underpinning the residential mortgage-backed securities (RMBS) in its portfolios. The parliamentary inquiry was examining the Australian banking sector in the aftermath of the global financial crisis. The collapse of the US sub-prime mortgage market in 2007 was the precursor to the global financial crisis. Mr Nicholls said the AOFM`s mortgages with at least 30-day arrears were just 1.1 per cent of its portfolio. He said this was less than that for full document and broader prime loans. The AOFM's investment in RMBS was $11.1 billion as at August 31, with the mortgage pools backing these investments being $25 billion, Mr Nicholls. Of these, less than two per cent, or just over $400 million, were low-documentation loans, a type of loan usually given to people who did not gain approval for mortgages from more traditional sources. Liberal senator David Bushby acknowledged the Labor government was right in boosting the RMBS market following the global financial crisis. Mr Nicholl said the AOFM had "some good stats" following Mr Bushby's comments that the AOFM had made money on RMBS products. <br>For the original version including any supplementary images or video, visit http://news.brisbanetimes.com.au/breaking-news-business/low-taxpayer-risk-with-lowdoc-loans-20120921-26bdg.html









Limited-documentation and no-documentation mortgages once were used primarily by self-employed professionals, small-business owners and individuals who are heavily dependent upon periodic bonuses or commissions. In limited or no-documentation programs, applicants typically state their income and assets to the loan officer but are not required to show detailed proof of that information for the lender's files. Generally, applicants are required to have good credit histories, but at the extreme -- no income verification, no asset verification, or NINA -- they need not document much of anything to qualify. The attraction of such mortgages for lenders or brokers is that they come with higher rates and compensation for the loan originator. Low-documentation mortgages were only a small fraction of the market in the 1990s, but today they are big business. This year they represent more than 16 percent small business loans Perth of all new home loans, according to Inside Mortgage Finance, a Bethesda trade publication. Wall Street rating agency Standard and Poor's says volume jumped by 50 percent from mid-2005 to mid-2006, based on mortgage securities pools it analyzed and rated. Unlike in earlier periods, however, today's low-doc borrowers are much more likely to be people who could, but choose not to, document their income with W-2 forms or pay stubs. According to a comprehensive survey sponsored by Inside Mortgage Finance and conducted by Campbell Communications, 39 percent of all low-doc borrowers this year are salaried wage-earners, the same percentage as self-employed borrowers. Why do they prefer to go the low-doc route? <br>For the original version including any supplementary images or video, visit >http://www.washingtonpost.com/wp-dyn/content/article/2006/11/24/AR2006112400503.html/article/2006/11/24/AR2006112400503.html]content





7 things you should know about low doc loans





3. Require additional security The additional fact that should be kept in mind while accessing low doc loans is that they require extra security. The amount of collateral required as pledge is far more than in the regular cases and hence the aspirant should be well versed with fact in advance. 4. Enhanced features One of the best features of the low doc loan is that the borrower gains extended access to a range of loan features and options that were previously unheard of or available for him in the market. Such loans could also be termed as a time and money savers for the informal and self-employed workers who find it hard to avail loans. 5. Increased opportunities to earn credit At present, due to increase in competition in the lending market, majority of the big names in the lending business, including the banks now offer low doc loan services. Earlier, only non banking financial institutions with limited presence used to offer these loans to the aspiring candidates. <br>For the original version including any supplementary images or video, visit http://www.dynamicbusiness.com.au/finance-cash-flow/7-things-you-should-know-about-low-doc-loans-07052013.html



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