WASHINGTON—The U.S. Treasury Department on Wednesday released new implementation guidance for the $10 billion State Small Business Credit Initiative Program, designed to allow firms in disadvantaged communities access capital. The program, approved under coronavirus relief legislation passed in March, aims to catalyze $10 of private investment for every $1 of federal funding. Treasury said in…
US Treasury Issues Guidance for $10 Billion Small Business Credit Program
November 10, 2021
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GameStop Gets New $500 Million Asset-Based Credit Facility
GameStop Corp. said on Thursday it entered into an agreement with a syndicate of banks for a new $500 million global asset-based credit facility to improve its liquidity. The five-year credit agreement replaces GameStop’s existing one of $420 million, which was due in November 2022, the company said, adding that the facility would reduce borrowing…
Brazil’s Eletrobras to Receive $500 Million in Regulatory Decision
Brazilian state-run utility Eletrobras said on Tuesday that electric sector regulator Aneel ruled that the company would receive a $500 million credit related to the “fuel consumption account” program. Centrais Eletricas Brasileiras SA as the company is formally known said in a securities filing that the ruling related to its affiliated companies Amazonas Energia, Eletroacre,…
US Bank Profits Drop as Industry Slows Reductions in Credit Loss Provisions: FDIC
WASHINGTON—U.S. bank profits fell 8.3 percent to $70.4 billion in the second quarter of 2021 as firms slowed their reductions in credit loss provisions, the Federal Deposit Insurance Corporation reported on Wednesday. While profits were still significantly higher than they were a year ago—up 281 percent from the second quarter of 2020—banks slowed the rate…
Wells Fargo Confirms Its Shutting Down All Personal Lines of Credit
Wells Fargo said it will no longer be offering personal lines of credit and will shut down down all existing personal lines of credit for customers, according to reports. The move doesn’t appear to affect credit cards. A spokesperson for the banking giant confirmed the development. “As we simplify our product offerings, we made the…
3 Ways to Boost Your Credit Score
Your 790 credit score might not be as great as you think it is. It all depends on which credit score you’re looking at. If you’re referring to a FICO score of 790 out of 850, that’s excellent, but 790 is only so-so on the VantageScore 2.0 model, which tops out at 990. So, you…
Money Myths: 10 Ways We Fool Ourselves About Managing Credit
Dear Readers: April Fools’ Day can make for a good joke, but there are certain myths about money that, if not dispelled quickly, are no laughing matter. Misconceptions about credit and debt are right at the top of the list. Here are 10 common beliefs about credit that can lead to financial trouble. Don’t fall…
Apollo Global to Buy Insurance Affiliate Athene for $11 Billion
Apollo Global Management Inc said on Monday it will merge with Athene Holding Ltd in an $11 billion all-stock deal, bringing in-house an annuities provider that helped turn it into one of the world’s largest corporate credit investors. Apollo has been getting paid lucrative fees by Athene, in which it controls a 35 percent stake,…
US Consumer Credit Rose a Solid $9.7 Billion in December
U.S. consumers increased their borrowing in December by $9.7 billion, as Americans took out loans to buy autos or finance their educations.
US Consumer Credit Rose by $9.7 Billion in December
U.S. consumers increased their borrowing in December by $9.7 billion, as Americans took out loans to buy autos or finance their educations.
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