Hotel Rates – Gillan's Inn http://gillansinn.com/ Tue, 17 May 2022 20:12:19 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://gillansinn.com/wp-content/uploads/2021/06/cropped-favicon-2-32x32.png Hotel Rates – Gillan's Inn http://gillansinn.com/ 32 32 Advans La Fayette MFB unveils student loans to support school owners, parents – https://gillansinn.com/advans-la-fayette-mfb-unveils-student-loans-to-support-school-owners-parents/ Tue, 17 May 2022 20:12:19 +0000 https://gillansinn.com/advans-la-fayette-mfb-unveils-student-loans-to-support-school-owners-parents/ Advans La Fayette MFB Limited, a leading microfinance bank that supports small businesses and a member of the Advans Group, on Tuesday launched education loan products to help school owners and parents respectively run their schools and pay tuition with ease. The new products according to a press release signed by the marketing and communication […]]]>

Advans La Fayette MFB Limited, a leading microfinance bank that supports small businesses and a member of the Advans Group, on Tuesday launched education loan products to help school owners and parents respectively run their schools and pay tuition with ease.

The new products according to a press release signed by the marketing and communication manager of the firm, Kayode Abraham are AdvanBoost, made up of Advans School Boost and Advans Eduloan. Advans School Boost is designed to provide working and investment capital to school owners, while AdvansEduloan helps parents easily pay for their children’s school fees.

The third product is the Advans Kiddies, which is a high-yield savings account to help parents save for their children’s future while earning interest.

In his welcome remarks at the launch and stakeholder engagement event held at Shoregate Hotels, Ikeja, Lagos; Managing Director of Advans La Fayette MFB Limited, Gaëtan Debuchy, said: “We have recognized that lack of funding is one of the greatest scourges in education.

He recounted that the Bank was emboldened that investing in quality education pays the best dividend, therefore, created these products to offer solutions to the challenge, noting that as a premier microfinance bank plan, the financial institution is focused on providing premium financial services to our customers.”

Speaking at the event, Advans La Fayette MFB Project Manager, Fanny Belhomme said, “Advans School Boost enables school owners to access loans of up to N75 million to cover school expenses. school. The loan has a very competitive interest rate, a flexible repayment plan and no hidden fees.

“Parents can access up to N500,000 with AdvansEduloan to pay for their children’s school fees. The loan is easy to access, with a low interest rate and flexible repayment plans,” she added.

The company’s director of marketing and communications, Abraham, said, “The process to access student loans is neither rigorous nor intimidating.

He ordered the plaintiff to simply visit the website: www.advansnigeria.com complete the application form and receive the funds immediately, if eligible. »

Advans Nigeria is a member of the Advans Group; a leading international microfinance group currently serving over 1.1 million clients in 10 countries including Cambodia, Cameroon, Ghana, Democratic Republic of Congo, Ivory Coast, Pakistan, Nigeria , Tunisia and Myanmar. For more than 15 years, the bank has offered a full range of financial services that has helped create more than 4 million small businesses.

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LandBank launches P50-B loan program for crisis-hit businesses │ GMA News Online https://gillansinn.com/landbank-launches-p50-b-loan-program-for-crisis-hit-businesses-%e2%94%82-gma-news-online/ Sun, 15 May 2022 07:03:10 +0000 https://gillansinn.com/landbank-launches-p50-b-loan-program-for-crisis-hit-businesses-%e2%94%82-gma-news-online/ The state-run Land Bank of the Philippines has launched a 50 billion peso loan program for businesses affected by natural and man-made calamities such as the ongoing conflict between Russia and Ukraine . National Opportunity Assistance for Entities Amid Social and Economic Reserves That Cause Visible Shockwaves for Businesses aims to provide additional working capital […]]]>

The state-run Land Bank of the Philippines has launched a 50 billion peso loan program for businesses affected by natural and man-made calamities such as the ongoing conflict between Russia and Ukraine .

National Opportunity Assistance for Entities Amid Social and Economic Reserves That Cause Visible Shockwaves for Businesses aims to provide additional working capital for businesses.

This could then be used to boost operations, expand business facilities and build up stocks of supplies and inventory to deal with the actual or impending impact of crises.

“LandBank aims to build the resilience of key development industries by cushioning the negative impact of economic disruptions,” President and CEO Cecilia Borromeo said in an emailed statement.

“Through the NATION SERVES loan program, we will also help prevent commodity price spikes while continuing to serve the nation,” she continued.

Landbank’s mandate is to promote rural development while remaining financially viable. It implements the Comprehensive Land Reform Program (CARP), provides assistance to small farmers and fishers, and serves as the official depository of public funds.

Under this program, borrowers such as renewable energy developers, agribusinesses, and aircraft equipment and machinery manufacturers can lend up to 85% of actual needs.

This will be calculated on the basis of the Bloomberg valuation reference rate (BVAL) applicable at the time of use, as well as a spread not exceeding 75% of the prescribed spread according to the credit rating. of the borrower.

LandBank reported net income of 13.2 billion pesos in the first three months of the year, up 141 percent from net income of 5.48 billion pesos in the same quarter last year.

The Department of Trade and Industry (DTI) also announced in March its target to release 600 million pesos in support of small business livelihoods.

The DTI had earlier said that around 10% of MSMEs were forced to close from June 2021. This figure rose to as high as 52.66% in May 2020, at the height of the quarantines.

Micro-enterprises are defined as those whose total assets are worth less than P50,000; craft enterprises with assets worth 50,001 to 500,000 pesos; small with 500,001 to 5 million pula; and medium from more than 5 million pesos to 20 million pesos. —LBG, GMA News

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Online car rental: what you need to know https://gillansinn.com/online-car-rental-what-you-need-to-know/ Fri, 13 May 2022 19:00:00 +0000 https://gillansinn.com/online-car-rental-what-you-need-to-know/ Renting online is not that different from renting at a local dealer’s office. You will end up in much the same place as an in-person agreement regarding terms and monthly payments. Even online, you can still take advantage of leasing offers that the manufacturer may sponsor. Read on for some tips on online car rental […]]]>

Renting online is not that different from renting at a local dealer’s office. You will end up in much the same place as an in-person agreement regarding terms and monthly payments. Even online, you can still take advantage of leasing offers that the manufacturer may sponsor.

Read on for some tips on online car rental and what to expect.

Why rent a car online?

If you approach the task of getting a new car correctly, you will do most, if not all, of the pre-purchase research online. Why not take the next step and complete the entire transaction online?

Many of us have honed our online shopping skills well beyond just research during the pandemic shutdowns. If you’re willing to forego the test drive (which isn’t a very good idea), you’ll never need to walk into the dealership until you’ve picked up the vehicle. Many dealerships will deliver your new car to your doorstep. Some dealerships will even bring a car to your home or workplace for a test drive.

Renting or buying cars online eliminates most of the stress and frustration often associated with the car buying experience. Things move at your pace rather than the dealer’s pace. You can pause to reflect on the process, absorb the information, and move on to the next step when you’re ready.

Plus, you can juggle deals from multiple dealerships simultaneously without ever leaving your chair.

Once you’ve chosen the vehicle, look for a tab that will take you to financing options or “calculate your monthly payment”. Choose “Leasing” and refine the numbers. Many new car dealerships offer special lease deals usually sponsored by the manufacturer. You must lease through the dealership to take advantage of these offers, but you can also provide your lease to a third party.

Do the math

Monthly lease payments are usually lower than loan payments when financing a car. However, you should check the calculations for your situation. Use our car payment calculator to help determine monthly finance costs. Most new car dealerships offer lease deals on virtually every model. They post details, upfront costs, and monthly payments on their website. Make sure the math works for your budget.

Also, check the insurance coverage required by the leasing company. Minimum insurance requirements for leases are often higher than when financing an auto loan. You should also consider guaranteed asset protection, commonly referred to as GAP insurance. This type of insurance product covers any balance you may have if your car is stolen or written off as a total loss after an accident. Although your all-risk auto insurance only covers the current book value of your vehicle, it does not cover the outstanding balance of your finance. GAP insurance saves you from paying the difference.

Create a Dealer Relationship

It is possible to follow the entire purchase and financing process online without voice contact. Many of us buy things online every week, bypassing any human interaction. However, you will probably have a question or two when acquiring a new vehicle. Establishing personal contact at the dealership makes sense.

Many dealerships have at least one team member who specializes in online shopping and financing. You can find out who this person is by calling, chatting, or emailing the dealership. Contact the sales manager if the dealership does not have a dedicated online specialist. Let the manager know that you are shopping, buying and financing online, and ask for contact information for a qualified person to help you with any questions.

Carefully review every detail

Since you are not going to the dealership, you will have to be more careful and check everything. Just because a car is on the dealer’s website doesn’t mean it’s current inventory. The dealer may have sold it the day before or it could arrive next week by transport truck.

Whichever model you choose, ask your contact person to email you the vehicle identification number (VIN) of the car. The VIN is a 17-character identifier (consisting of capital letters and numbers) unique to that vehicle. It appears in several places around the car, but the most accessible site is a plaque on the dashboard at the bottom of the driver’s side windshield.

In addition to the VIN, ask for a copy of the Monroney sticker, the window sticker displayed on every new car. It contains a list of the main standard features, base price, destination charges, options and their costs, and a total suggested retail price. It also displays the VIN. Your dealer contact can scan the Monroney and email it to you.

Obtain a written rental offer

Two laptop hands trade a car for money

Also ask the dealership to present their offer in writing via email. The offer must include:

  • The transaction cost of the car with all fees
  • The terms of the lease with all initial fees
  • The monetary factor of the lease

The monetary factor is the lease-speak for the annual percentage rate (APR), which acts as an interest rate for the vehicle. This can be displayed in two ways, such as .002 or 2.0. If you want to know the equivalent interest rate, multiply 0.002 by 2,400 or 2.0 by 2.4. Either way, the similar APR in this example is 4.8%. Knowing the money factor helps when cross buying for a lease.

When signing the documents, make sure that all figures in the purchase agreement and lease match the written offer. You should also triple check that the VIN on the paperwork matches that of the offer and Monroney.

Request the lease

You will need to rent through the dealership to obtain any lease offered by a manufacturer. However, you are free to shop around for a better rental deal. Online leasing brokers, banks and other lenders offer car rental contracts.

Leasing is more involved than loan financing. Comparing car rentals includes more than just the monthly payment. Before making a rental decision, always get a list of all upfront costs, deposits, fees, and money factor.

Another term unique to leasing is “capitalized cost reduction,” which is any amount that reduces the final amount used to calculate lease payments. A down payment or trade-in are examples of capitalized cost reductions. To evaluate a lease offer, you need to know the amount of capitalized cost reduction.

Fill out the paperwork

If you don’t want to go to the dealership or other leasing entity to complete the paperwork, the dealership or leasing company can send someone to you. Or, the dealership could do it overnight with courier service rather than sending someone to you with the paperwork. Establish how and who will handle the paperwork early on in conversations, emails, or discussions with the landlord.

We recommend returning the documents in person if the dealership is local or easily accessible by car. This allows you to monitor the vehicle if you haven’t already. You can check the VIN and so on before handing over the documents. Be sure to call ahead to make an appointment to view the car and finalize the paperwork if you choose to go in person.

Get the car up to you

Delivery is another aspect of buying that you need to clarify early in the buying process. If the dealership is local, they may have a procedure to deliver the car to your home or workplace. You can also choose to pick it up yourself at your convenience. If the dealership is not local, you will need to arrange a transport service to pick it up and deliver it to you. Your dealer’s contact person can probably help you arrange long distance delivery, if needed.

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Find rental offers:

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10-year fixed private student loan rates drop for third week in a row https://gillansinn.com/10-year-fixed-private-student-loan-rates-drop-for-third-week-in-a-row/ Wed, 11 May 2022 20:03:32 +0000 https://gillansinn.com/10-year-fixed-private-student-loan-rates-drop-for-third-week-in-a-row/ Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders, all opinions are our own. Credible Market’s latest private student loan interest rates, updated weekly. (Stock) Medium private […]]]>

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders, all opinions are our own.

Credible Market’s latest private student loan interest rates, updated weekly. (Stock)

Medium private student loan rates for borrowers with credit scores of 720 or higher who used the Credible Marketplace to take out student loans fell for 10-year fixed rates and rose for 5-year variable rates during the week of May 2 2022:

  • 10-year fixed rate: 6.03%, compared to 6.06% the previous week, -0.03
  • 5-year variable rate: 5.23%, compared to 4.57% the previous week, +0.66

With Credible, you can compare private student loan rates from multiple lenders without affecting your credit score.

After dropping significantly last week, 5-year variable private student loan rates are back on the rise. Meanwhile, private 10-year fixed student loans are down for the third week in a row. Despite the increases, rates for both quarters are below their April highs. Borrowers can take advantage of interest savings now with a 5-year variable rate loan or a 10-year fixed rate loan.

You should always exhaust federal student loan options before turning to private student loans to cover any funding shortfalls. Private lenders such as banks, credit unions, and online lenders offer private student loans. You can use private loans to pay for education and living expenses, which may not be covered by your federal student loans.

Private student loan interest rates and terms may vary depending on your financial situation, credit history and the lender you choose.

Take a look at the rates from Credible Partner Lenders for borrowers who used the Credible Marketplace to select a lender during the week of April 25:

Private student loan rates (diploma and undergraduate)

Student Loan Weekly Rate Trends

credible-student-prets-may-11.jpg

Who sets federal and private interest rates?

Congress sets interest rates for federal student loans each year. These fixed interest rates depend on the type of federal loan you take out, your dependent status, and your school year.

Private student loan interest rates can be fixed or variable and depend on your credit, repayment term and other factors. Generally, the better your credit score, the lower your interest rate is likely to be.

You can compare rates from multiple student lenders using Credible.

How does student loan interest work?

An interest rate is a percentage of the loan periodically added to your balance – essentially the cost of borrowing money. Interest is a way lenders make money from loans. Your monthly payment often pays interest first, with the rest going to the amount you originally borrowed (the principal).

Getting a low interest rate could help you save money over the life of the loan and pay off your debt faster.

What is a fixed rate or variable rate loan?

Here is the difference between a fixed rate and a variable rate:

  • With a fixed rate, your monthly payment amount will remain the same for the duration of your loan.
  • With a floating rate, your payments can go up or down as interest rates change.

Comparative purchases for private student loan rates is easy when you use Credible.

Calculate your savings

Using a student loan interest calculator will help you estimate your monthly payments and the total amount you will owe over the term of your federal or private student loans.

Once you’ve entered your information, you’ll be able to see what your estimated monthly payment will be, the total you’ll pay in interest over the term of the loan, and the total amount you’ll repay.

About Credible

Credible is a multi-lender marketplace that allows consumers to discover the financial products best suited to their particular situation. Credible’s integrations with major lenders and credit bureaus allow consumers to quickly compare accurate and personalized loan options without putting their personal information at risk or affecting their credit score. The Credible Marketplace delivers an unparalleled customer experience, as evidenced by over 4,300 positive Trustpilot reviews and a TrustScore of 4.7/5.

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Draper and Kramer arrange two loans totaling $114 million for two Chicago apartment developments https://gillansinn.com/draper-and-kramer-arrange-two-loans-totaling-114-million-for-two-chicago-apartment-developments/ Tue, 10 May 2022 13:22:28 +0000 https://gillansinn.com/draper-and-kramer-arrange-two-loans-totaling-114-million-for-two-chicago-apartment-developments/ This rendering shows 1044 West Van Buren, a 196-unit apartment project under construction in Chicago’s West Loop. CHICAGO — Draper and Kramer’s commercial finance group has closed two loans totaling $114 million for two apartment developments in Chicago. Tandem Development was the borrower for both transactions. The first was a $58.4 million construction loan for […]]]>

This rendering shows 1044 West Van Buren, a 196-unit apartment project under construction in Chicago’s West Loop.

CHICAGO — Draper and Kramer’s commercial finance group has closed two loans totaling $114 million for two apartment developments in Chicago. Tandem Development was the borrower for both transactions. The first was a $58.4 million construction loan for 1044 West Van Buren, a 196-unit apartment project with 1,775 square feet of first-floor retail space in the West Loop neighborhood. Construction of the building, designed by Antunovich Associates, began in April. Completion is expected in the second quarter of 2023. The HUD 221(d)(4) loan has a 40-year term and a 40-year amortization schedule.

The second loan totaled $55.6 million for the refinancing of Avenir Apartments in Chicago’s River West neighborhood. Completed in 2019, the transit-oriented development features 196 units and 32,558 square feet of retail space. Antunovich Associates also designed this property. The HUD 223(f) loan has a 35-year term and a 35-year amortization schedule.

Draper and Kramer’s Matt Wurtzebach is behind the two loans with help from colleagues Jeff Ross and Kevan Briscoe.

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Shriram City to Focus on Small Business and Gold Lending in FY23; targets 18% growth in assets under management https://gillansinn.com/shriram-city-to-focus-on-small-business-and-gold-lending-in-fy23-targets-18-growth-in-assets-under-management/ Sun, 08 May 2022 11:26:00 +0000 https://gillansinn.com/shriram-city-to-focus-on-small-business-and-gold-lending-in-fy23-targets-18-growth-in-assets-under-management/ Shriram City Union Finance will focus on personal, gold and small business loans to achieve its 18% growth in assets under management in the current fiscal year amid slowing demand from two -wheels due to component shortages and other factors, a company executive said. mentioned. Noting that demand in the economy has […]]]>

Shriram City Union Finance will focus on personal, gold and small business loans to achieve its 18% growth in assets under management in the current fiscal year amid slowing demand from two -wheels due to component shortages and other factors, a company executive said. mentioned.

Noting that demand in the economy has yet to fully recover, while rural and semi-urban areas are doing better now, YS Chakravarti, MD and CEO, said the majority of the company’s business came from semi-urban and rural markets and everything good. for the rural economy will help business activity.

“We will focus on personal loans, gold loans and small business loans. In terms of economic recovery, we have not fully recovered. Urban areas are still struggling, to some extent, l The rural economy has recovered probably because once the harvest has been good and for the current year there are also good rainfall forecasts,” Chakravarti told PTI during an interaction.

He said harvests and prices are expected to be good due to global demand. “If you look at wheat today, it sells for more than MSP. So I expect the rural economy to do well. But there is still distress in urban areas,” did he declare.

The overall demand scenario for the company looks good, however, demand for funding in the two-wheeler category is subdued for many reasons, Chakravarti said.

One of the reasons is that the cost of acquisition has increased significantly. Today, it costs on average nearly Rs 1 lakh to own a two-wheeler.

Besides, the cost of maintenance has also increased due to gasoline prices, he said.

“The feeling we have is that people aren’t replacing their old vehicles either. The feedback I get from my team is that a lot of people are having their old vehicle repaired and using it. So all conspiring to reduce sales and reduce the demand for two-wheelers.

“So it looks like we’re going to see that trend for another six months as well. Luckily we’ve been able to maintain market share, it’s 6.5-7% of total market sales and we’re able to maintain that .share,” Chakravarti said.

Speaking of EVs, he said that demand for EVs was okay until March, but in April sales likely fell due to fear of a few vehicles burning or power issues. battery.

So there is a slowdown in demand for electric two-wheelers and it will take some time for the psychological fear to subside before demand picks up and some manufacturers recall their vehicles.

All of this adds to a sense of worry in people’s minds, he added. In addition, some of the popular two-wheeler models are not available in the market due to the shortage of chips, the official said, adding that the tightening of freight rates as well as the shortage of containers also act as shock absorbers. .

“Because of Covid, pile-ups have occurred and containers have been stuck in ports during the Covid period. Freight rates have increased enormously. I think all of this is accentuating the scarcity of vehicles.”

He said the company wants to expand MSME business in states like Madhya Pradesh, Chhattisgarh and Uttar Pradesh. “So those are the states where we are going to focus our MSME activities.”







The company is also seeing good demand on the gold loan front and that gold loan disbursements are steadily increasing except for a slight dip in the third quarter (October-December 2021) due to the festival season. However, it has returned now, he said, adding that in semi-urban and rural areas the market has recovered. People also need money.

“Most of my gold loan disbursements have been in semi-urban and rural areas.” The company will expand the gold lending business by offering the products from its existing branches in Punjab, Rajasthan, Haryana and Delhi.

“I am not creating new branches, but gold loan will be made available in existing branches of Shriram City Union Finance and also Shriram Transport Finance, once the merger is completed,” Chakravarti added.

“So the idea is that we should be operating from at least 2,000 outlets over the next 24 months.” He said the company aims to increase its assets under management (AUM) by 18% in the current fiscal year.

“The two-wheeler industry estimates that it will grow by around 5% in this financial year. If the industry grows by 5%, we will grow by around 10%, normally that is what we do. So in order for my AUM to increase to 18%, we need to focus on other products which will be business loans, gold loans and to some extent personal loans to my existing clients,” said said the manager.

Shriram City of Chennai-based Shriram Group is India’s largest two-wheeler financier. The company’s consolidated disbursements in FY22 increased by 49% to a record high of Rs 28,879 crore, supported by a strong recovery in lending to micro, small and medium enterprises (MSMEs), lending gold and two-wheelers. Assets under management (AUM) increased by 15% to reach Rs 38,541 crore at the end of March 2022.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Resume loan screening loopholes weigh heavily on IndoStar Capital https://gillansinn.com/resume-loan-screening-loopholes-weigh-heavily-on-indostar-capital/ Fri, 06 May 2022 16:06:00 +0000 https://gillansinn.com/resume-loan-screening-loopholes-weigh-heavily-on-indostar-capital/ IndoStar Capital Finance Ltd, a non-bank finance company backed by private equity firms, found some shortcomings such as deviations from loan sanctioning policies and control gaps in the commercial vehicle loan book. The potential provisioning burden for this is pegged at between Rs 557 crore and Rs 677 crore. The ESB filing company said […]]]>

IndoStar Capital Finance Ltd, a non-bank finance company backed by private equity firms, found some shortcomings such as deviations from loan sanctioning policies and control gaps in the commercial vehicle loan book. The potential provisioning burden for this is pegged at between Rs 557 crore and Rs 677 crore.

The ESB filing company said on March 31, 2022 that its management had informed the board’s audit committee that certain observations and control deficiencies had been observed during the interim statutory audit of the annual financial statements specifically in the CV loan segment.

NBFC has appointed Ernst & Young LLP (E&Y) to conduct the loan portfolio review. The scope of work covered by the review of policies, procedures and practices relating to the sanctioning, disbursement and collection of E&Y CV loans was also to assess the adequacy of the provision for expected credit loss.

Some preliminary findings from the loan portfolio review focus on certain control deficiencies. The E&Y review found deviations from credit policy in existing customer loan approval processes and foreclosure waivers for some loans.

The company did not follow the steps outlined in the description of control for restructured loans, the review observed.

NBFC said the company may be required to make additional estimated credit loss (ECL) provisioning between Rs 557 crore and Rs 677 crore. The loan portfolio review is ongoing and the assessment of potential additional provisioning and relevant issues may be subject to revisions.

The potential additional provisioning is expected to impact the company’s net worth and capital adequacy ratio. However, the company should continue to be adequately capitalized, meet capital adequacy standards and have sufficient liquidity to meet its short and long-term commitments.

The Company’s capital adequacy ratio (CAR) was 35.1% as of December 31, 2021. Assuming the upper end of the potential additional provisioning range, the revised CAR as of December 31, 2021 would be approximately higher than 25%, says IndoStar.

These estimates are based on the potential additional provision and are subject to the finalization of the company’s audited financial statements for the year ended March 31, 2022, he added.

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Philippines Secures $56.6 Million Loan for Panay-Guimaras-Negros Island Bridges Project │ GMA News Online https://gillansinn.com/philippines-secures-56-6-million-loan-for-panay-guimaras-negros-island-bridges-project-%e2%94%82-gma-news-online/ Wed, 04 May 2022 12:16:18 +0000 https://gillansinn.com/philippines-secures-56-6-million-loan-for-panay-guimaras-negros-island-bridges-project-%e2%94%82-gma-news-online/ The Philippine government secured a new loan for an expensive infrastructure project, less than two months before the end of the Duterte administration. In a statement, the Department of Finance (DOF) said the Philippines and South Korea on Wednesday (May 4) swapped their copies of the deal for the $56.6 million loan from the Export […]]]>

The Philippine government secured a new loan for an expensive infrastructure project, less than two months before the end of the Duterte administration.

In a statement, the Department of Finance (DOF) said the Philippines and South Korea on Wednesday (May 4) swapped their copies of the deal for the $56.6 million loan from the Export Import Bank of Korea-Economic Development Cooperation Fund (KEXIM -EDCF) to finance engineering services for the Panay-Guimaras-Negros Island bridge project.

On behalf of their respective governments, Finance Secretary Carlos Dominguez III and KEXIM-EDCF Executive Director Tae-Soo Kim received copies of the loan agreement from each other, which was signed last month. latest.

The inter-island bridges project involves the construction of two four-lane sea-crossing bridges spanning a combined 32.47 kilometres, including link roads and interchanges, which will connect the islands of Panay, Guimaras and Negros in Western Visayas, the finance department said.

He added that the project, which will be implemented by the Department of Public Works and Highways, is among the big projects of President Rodrigo Duterte’s “Build, Build, Build” program.

KEXIM-EDCF’s loan for engineering services for the project, which includes preliminary design, detailed engineering design and procurement assistance, will help the Philippine government prepare and complete the necessary activities and works before the construction of two bridges.

The DOF said the interest-free loan with a service charge of 0.1% per disbursement covers a 40-year maturity period, including a 10-year grace period.

“With an estimated total cost of 187.54 billion pesos, the Panay-Guimaras-Negros Island Bridges Project is expected to begin engineering services this year and begin construction in 2025,” the department said. —News VBL, GMA

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Bank of Baroda cuts interest rate on car loans to 7% https://gillansinn.com/bank-of-baroda-cuts-interest-rate-on-car-loans-to-7/ Tue, 03 May 2022 06:12:45 +0000 https://gillansinn.com/bank-of-baroda-cuts-interest-rate-on-car-loans-to-7/ 🔊 Listen to this article Bank of Baroda, one of India’s leading public sector banks, announced a 25 basis point (bps) cut in its auto loan interest rates to 7% pa from 7.25% previously. Additionally, the bank has also reduced the processing fee to ₹1,500 (plus GST) for a limited period until the end of […]]]>

Bank of Baroda, one of India’s leading public sector banks, announced a 25 basis point (bps) cut in its auto loan interest rates to 7% pa from 7.25% previously.

Additionally, the bank has also reduced the processing fee to ₹1,500 (plus GST) for a limited period until the end of June this year.

In a statement, the bank said: “The new rate as well as the preferential processing fee is applicable for the purchase of a new car.”

The new rate would be tied to the borrower’s credit profile. However, the existing interest rate for used car and two-wheeler loans remains unchanged.

HT Solanki, Managing Director – Mortgages and Other Retail Assets, Bank of Baroda said: “We are seeing a steady increase in demand for car loans as the economy has opened up. Lowering the Baroda car loan interest rate and lower processing fees will make it easier for consumers to purchase the car of their choice.

With a transparent digital platform, the bank facilitates a smooth working process. “The bank is also present on Maruti Suzuki Smart Finance platform as well as Hyundai Motor India’s Click to Buy portal to provide a hassle-free experience for car buyers,” Solanki added.

Read also : Bank of Baroda and PAISALO enter into a co-loan agreement to provide

The bank also cut interest rates on home loans from 6.50% per annum until the end of June this year.

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37 Nollywood filmmakers receive interest-free loans from Sanwo-Olu https://gillansinn.com/37-nollywood-filmmakers-receive-interest-free-loans-from-sanwo-olu/ Fri, 29 Apr 2022 04:49:45 +0000 https://gillansinn.com/37-nollywood-filmmakers-receive-interest-free-loans-from-sanwo-olu/ Lagos State Governor, Babajide Sanwo-Olu presented checks worth N200 million to 37 filmmakers, who are beneficiaries of the special interest-free loan to filmmakers under the Creative Initiative of the State (LACI), an initiative of the Ministry of Tourism, Arts and Culture.The initiative which aims to address the financial challenges that hamper the production of quality […]]]>

Lagos State Governor, Babajide Sanwo-Olu presented checks worth N200 million to 37 filmmakers, who are beneficiaries of the special interest-free loan to filmmakers under the Creative Initiative of the State (LACI), an initiative of the Ministry of Tourism, Arts and Culture.
The initiative which aims to address the financial challenges that hamper the production of quality films in Lagos and Nigeria is considered the first by a state government.
Represented by the Commissioner for Tourism, Arts and Culture, Uzamat Akinbile-Yusuf, during the presentation ceremony held at the Glover Memorial Hall in Lagos, Sanwo-Olu said that the initiative and the presentation of checks are a testament to his administration’s commitment to ensuring the entertainment industry’s potential is realized.
Speaking through Akinbile-Yusuf, Sanwo-Olu urged recipients of the first batch of the revolving loan to make wise use of the loan and repay it when scheduled to enable others to be self-sufficient as well.
Earlier in an introductory speech, the Executive Secretary of the Lagos State Film and Video Censors Board (LSFVCB), Barrister Adebukola Agbaminoja noted that the agony of limited funding channels had so far hampered the full potential of the industry.
The Executive Secretary, who observed that more than eighty percent of films produced in Nigeria were produced in Lagos State, noted that this was in consideration of the film value chain in Lagos State. in particular, and in Nigeria in general, that the Governor of Lagos State, magnanimously promised to help the industry overcome financing hurdles by providing “interest free” loans through the Lagos Film Fund.
According to the Agbaminoja, “The Lagos State Film Fund, as conceptualized by Mr. Governor, was born to create a stress-free funding stream for the industry and also motivate private organizations to foster many of these funding streams for the complete value chain upgrade of the Nigerian film industry.
“Today, as the Governor presents checks to the first group of film fund recipients, we are proud to say it is yet another promise kept.”
One of the beneficiaries of the fund and famous veteran Nollywood actor and producer, Prince Jide Kosoko has thanked the Lagos State government for establishing the fund. Kosoko noted that the fund came at the right time. “It will definitely complement the film project I’m getting into and it will help a lot of my creativity to be able to come together as originally planned,” he said.

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