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DPS school board rejects state loans

DETROIT – The Board of Education for Detroit Public Schools rejected two loans Monday morning in an attempt to block the massive financial rescue plan passed in Lansing and signed by the governor. The two loans total $385 million in seed money for the new district. One loan carries an interest rate of 10 percent […]

Capitec Set for Legal Battle Over Reckless Lending Charges

Capitec Bank Holdings Ltd., South Africa’s biggest provider of unsecured loans,saidit has lodged its opposition to reckless-lending charges filed by Summit Financial Partners and will submit responding court documents early next month. “We’re not payday lenders,” Chief Executive Officer Gerrie Fourie said in an interview in Stellenbosch, near Cape Town. “We’re confident we can win […]

Why Credit Unions Are a Favorite Funding Option for Small Businesses

Small business loans from credit unions earned the second highest satisfaction rate from borrowers who received funding, according to the 2015 Small Business Credit Survey by the Federal Reserve Bank of New York. These loans may now be even more attractive, thanks to a key change: Personal guarantees (PGs) are no longer required on all credit union small business […]

Bust unicorn Powa will leave over £100 million in unpaid debts – and only £1 million can be recovered from the business

Documents have been filed for both Powa Technologies Group, the overall holding company which raised money, and UK trading company Powa Technologies Ltd, which owned the bulk of the technology and conducted business. The document for the group company shows that, when intergroup loans and internal business are discounted, management expects £137.25 million of debts […]

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