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Women in Niger Pool Resources to Build Businesses

“Members pool their savings, take turns making loans to each other, pay the loans back with interest, and then divide the profits” writes Larisa Epatko for pbs.org. Her small-scale livestock business has flourished since her initial loan in 1999, and her children now work with her.They typically use the money to start businesses and pay for family needs, such as health care, school costs and food. Source: pbs.org Share This:

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10 ways to chip away at your student loan debt

“If you qualify, some of your student loan debt may be forgiven” writes Josh Smith for marketwatch.com. If all you want is to simply lower the monthly amount of your student loan payment, try refinancing through a different lender.Related: These surprising jobs can lead to student loan forgiveness If and when you can afford it, add $10-20 to each monthly payment you make.At the end of each month, calculate the money you didn’t spend on daily coffees (or other similar luxuries) and consider adding that amount to your student loan…

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Goldman Sachs to offer home improvement loans

“Wall Street’s best known investment bank is looking to help you renovate your bathroom” reports foxbusiness.com. Goldman Sachs (GS) will start offering home improvement loans to borrowers this month, its latest push into the world of consumer lending — a business the bank has avoided for much of its nearly 150-year history.The bank has offered debt consolidation loans since late 2016, and for a couple years it’s had an online savings account, both under the brand name Marcus. Goldman executives say they’re aiming at borrowers looking to finance projects larger…

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America’s student debt crisis is worse than we thought

“A new Brookings Institution report offers startling results that suggest “the looming student default crisis is worse than we thought.”” writes Pedro Nicolaci Da for businessinsider.com. Debt and default among black college students “is at crisis levels, and even a bachelor’s degree is no guarantee of security,” the report says.The first spot they tend to look is at student loans which, while only a fraction of the housing market, can still have a significant economic impact on consumers and businesses.At nearly $1.4 trillion in loans outstanding, student debt is now…

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Performant’s stock rockets after winning contract to collect on defaulted federal student loans

“Volume topped 1 million shares within a minute after the open, compared with the full-day average of about 39,000 shares, according to FactSet” writes Reporter Editor for marketwatch.com. PFMT, +45.88% rocketed 39% in active morning trade Friday, after the company said it won a new contract to provide collection services on defaulted federal student loans. The stock has rallied 21% over the past 12 months, while the S&P 500 SPX, +0.19% has climbed 22%.The company said the Department of Education has capped the total award amount for the contract, which…

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Wall Street’s Goldman Sachs to offer home improvement loans

“The home improvement loans are structured similarly to the debt consolidation loans that Goldman already offers” writes The Associated Press for seattletimes.com. The company has originated $2 billion in debt consolidation loans, compared with the $930 billion in total assets the firm has under management. Goldman has already offered home improvement loans indirectly.Goldman Sachs will start offering home improvement loans to borrowers this month, its latest push into the world of consumer lending — a business the bank has avoided for much of its nearly 150-year history. Source: seattletimes.com Share This:

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Saudi Aramco Working to Raise Cheap Loans Before IPO

“But it also indicated the readiness of banks to accept lower returns ahead of the IPO, the sources said” writes Min Read for reuters.com. The ECA-backed loans would typically come with tenors of up to 10 years at interest rates generally below 1 percent a year, two banking sources said.Each of these new loans was likely to be in the range of $2 billion dollars, the sources added.DUBAI (Reuters) – Saudi Aramco is working to secure billions of dollars in cheap loans from banks seeking to strengthen their ties with…

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Ask Brianna: Should I tell my partner I’m in serious debt?

“Q: I’m overwhelmed by student loan and credit card debt, and I’m embarrassed to admit it to my partner” reports foxbusiness.com. A credit card balance at the top of your credit limit means a lower credit score, for instance.Work on eliminating credit card debt first, for example.Has your behavior changed since you first built up a credit card balance, or is spending still an issue?.  Source: foxbusiness.com Share This:

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Funding Circle Lands Community Bank Partner

“Last year, Funding Circle announced $100 million in equity funding provided by Accel Partners, Index Ventures, Union Square Ventures and Temasek Holdings” reports pymnts.com. Alternative small business (SMB) lending platform Funding Circle has announced a new partnership with a traditional lender.Community financial institution (FI) INTRUST Bank is working with the SMB lending platform, providing funds for loans originated on Funding Circle, the companies said Thursday (Jan. 4).INTRUST Bank said it will roll out its partnership with Funding Circle in several stages, the first of which will consist of financing small…

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