Personal Loans News

Cloud with heavy rain
May, 15, 2012
The U.S. Small Business Administration (SBA) is reminding businesses in Indiana that capital personal loans are still available, but that deadline is fast approaching. Small businesses, small agricultural cooperatives and many private non-profits that were affected by storms, hail, tornadoes and floods between April 3 and June 15, 2011 are free to apply for an SBA personal loan. These Economic Injury Disaster Loans, or EIDLs as the SBA calls them, will be offered to those who apply before the June 12 deadline.
Manufacturing job
May, 7, 2012
The American manufacturing industry has begun a steady rise again, but manufacturing owners are saying they need personal loans in order to keep up with their growth. In a recent survey conducted by MFG.com, an online directory that matches businesses with manufacturers, 26 percent of small to mid-sized manufacturers said that “lack of capital to grow” is the biggest challenge they’re currently facing. The survey found that banks’ unwillingness to lend personal loans to manufacturers that need new equipment, marketing tactics, and capital to hire new employees is seriously stunting the potential of this industry.
Creepy man on phone
Apr, 25, 2012
A West Virginian woman has turned the tables on a notorious personal loan debt collector and is now seeking to collect the largest court-ordered judgment that has ever been made against a debt collection agency: nearly $11 million. Diana Mey, of Wheeling W. Va., claimed she filed suit against Reliant Financial Associates, also called RFA, due to an abusive and threatening phone call that the personal loan collector made to her home. Despite winning the suit, however, she has yet to receive payment.
Medical personal loans
Apr, 25, 2012
Imagine a patient laying on a gurney, waiting for doctors and nurses to come prep them for surgery. The door creaks open, and someone approaches, but instead of seeing a comforting friendly face topped with a puffy blue hat, there’s a suited man holding a briefcase and a document requesting the patients signature needed to satisfy the personal loan that will be used to fund the surgery.
Oil wells
Apr, 18, 2012
Aubrey McClendon, the CEO of Chesapeake Energy Corp, reportedly borrowed as much as $1.1 billion in personal loans over the last three years, according to Reuters. The personal loans were reportedly staked against thousands of Chesapeake Energy’s oil wells, which is something many experts feel is a conflict of interest. “There are no covenants or obligations in my loan documents or mortgages that bind Chesapeake in any way,” explained McClendon in an email to Reuters. But the size and terms of these loans is what has some shareholders worried.
Tornado hitting a barn
Apr, 16, 2012
The U.S. Small Business Administration (SBA) announced the deadline to apply for their economic injury disaster personal loans in Tennessee and North Carolina. Businesses in both states have less than a month to apply for a disaster loan designed to help small businesses affected by recent tornadoes. The deadline to apply for a personal loan in North Carolina is May 11, 2012, while Tennessee’s deadline is May 12, 2012.
Conceal money
Apr, 12, 2012
An investigation of Rep. Paul Broun (R-Ga.) was called on Thursday over allegations that his 2007-2008 campaign committee hid the source of a personal loan worth at least $300,000. The Citizens for Responsibility and Ethics in Washington (CREW) said that Broun told the Federal Election Commission (FEC) that the $300,000 was derived from a personal loan taken out in his own name. “The problem, however, is that even if Rep. Broun’s new version of events is true, failing to tell the FEC you are financing your campaign in part with bank loans is illegal,” said CREW Director Melanie Sloan in a statement.
Football
Apr, 12, 2012
Think your personal loans are bad? Try walking in Baltimore Ravens’ Lineman Bryant McKinnie’s shoes, who must find a way to come up with $4.3 million after defaulting on a personal loan he took out during the 2011 NFL lockout, reported TMZ on Thursday. Back in March 2011, there was an NFL labor dispute between the NFL’s owners and players that went unresolved, resulting in a work stoppage. The lockout remained in effect until July 21, 2011, but that left players out of work for nearly five months.
Stack of Magazines
Apr, 3, 2012
In an effort to educate the more than 30 million underbanked households in the United States about personal loans, the American Financial Services Association Education Foundation (AFSAEF) released a pamphlet titled “Understanding Personal Loans.” The pamphlet is the first publication is a four-part series called “Personal Loans 101”. The series is aimed at informing potential borrowers about the benefits and risks of borrowing short-term, small-dollar loans.
Baseball and bat
Mar, 20, 2012
An anonymous source familiar with the New York Mets’ finances told The Associated Press that the team has repaid their personal loans of $25 million to the Major League Baseball (MLB) and $40 million to Bank of America (BofA). The source asked to remain anonymous since an official statement from the Mets has yet to be made or authorized. The personal loans were taken out by the team as a result of losses from a heavy lawsuit filed against the Mets’ owners, a decreased attendance to the team’s games and a losing record.

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