Sarah Taddeo Rochester Democrat and Chronicle Published 3:16 AM EDT Aug 5, 2019 My consumer watchdog coverage is largely thanks to our readers telling me about their most stubborn problems. People have contacted me by phone, email or a submission form at the end of one of my stories. A number of you have come through with questions you think I should investigate. I've corresponded with many of you over email about your submitted inquiries, and I turned some into stories. Here's a submitted question about home equity lines of credit — a financial concept that might be difficult for you to untangle. What exactly is a home equity line of credit? Is it actually a second mortgage? Second to what? A home equity line of credit (HELOC) is a way to borrow money against the value of your home and to pay back the loan over time plus interest. That statement might not mean much to you, so David Homsi of Bank of America helped me break it down. He handles home loans for … [Read more...] about What is a home equity line of credit? Here’s how a HELOC works.
Business lines of credit for new businesses
/EIN News/ -- Hamilton, Bermuda-April 8, 2019-Nordic American Offshore Ltd. (the "Company" or "NAO") announced today that it has reached agreement with the lenders under the Company's $150 million Revolving Credit Facility, dated March 16, 2015 (the "Credit Facility") pursuant to which the lenders have agreed, upon satisfaction of certain conditions precedent by the Company, to the extension of waivers up until January 31, 2020. The Company has also announced that the lenders have committed, upon satisfaction of certain conditions precedent by the Company, to a new $ 132.9 million term loan facility with maturity of December 6, 2023 to refinance the Credit Facility, which has an outstanding balance of $132.9 million as of the date of this press release. As part of the above agreements, the Company will acquire thirteen vessels from Scorpio Offshore Holdings Inc. for consideration in common shares worth approximately $ 22.6 million in aggregate. Additionally, the Company has … [Read more...] about Nordic American Offshore Ltd. Announces Agreement with Lenders, Acquisition of Additional Vessels for Consideration in Common Shares, and Equity Line of Credit
LOS ANGELES CALIFORNIA, Jan. 03, 2019 (GLOBE NEWSWIRE) -- GTX Corp (OTCQB: GTXO) (“the Company”), a pioneer in the field of wearable GPS human and asset tracking systems and wandering assistive technology, today announced securing a revolving line of credit for production financing, and onboarding two new distributors, one in Canada and the other in the U.S. A private institutional partner will provide inventory and production financing in the form of an interest and royalty based credit line, whereby the Company can draw down on an as needed basis upon product demand and receipt of purchase orders. The initial credit line is for $500,000 and based on payment history and product demand the lender may increase the line to three million dollars. This credit line will provide the Company growth capital without taking on more convertible debt. The Company also signed up two new distributors which officially launched SmartSole sales over the Holidays. Senior.com, located in … [Read more...] about GTX Corp Secures a $500,000 Revolving Line of Credit for Product Financing and Signs up Two New Distributors
Polly Mosendz and Hannah Levitt, Bloomberg Published 7:22 am PDT, Friday, October 5, 2018 A Wells Fargo bank branch in Evanston, Ill., on Tuesday, July 10, 2018. A Wells Fargo bank branch in Evanston, Ill., on Tuesday, July 10, 2018. Photo: Bloomberg Photo By Christopher Dilts Photo: Bloomberg Photo By Christopher Dilts Image 1 of / 1 Caption Close Image 1 of 1 A Wells Fargo bank branch in Evanston, Ill., on Tuesday, July 10, 2018. A Wells Fargo bank branch in Evanston, Ill., on Tuesday, July 10, 2018. Photo: Bloomberg Photo By Christopher Dilts Unswayed by nuns, Wells Fargo hands gunmaker new line of credit 1 / 1 Back to Gallery Wells Fargo & Co. is doubling down on the gun industry, undaunted by criticism of its … [Read more...] about Unswayed by nuns, Wells Fargo hands gunmaker new line of credit
Gunshot Detection Leader Secures Flexible-Use Backing from Innovative and Fast-Growing Pacific Northwest Bank NEWARK, Calif., Oct. 01, 2018 (GLOBE NEWSWIRE) -- ShotSpotter, Inc. (Nasdaq: SSTI), the leader in gunshot detection solutions that help law enforcement officials identify, locate and deter gun violence, today announced it has closed a deal for a $10 million line of credit from Umpqua Bank, a subsidiary of Umpqua Holdings Corporation, with a provision to increase the line of credit up to $25 million with the lender’s approval. The funding is intended to be used by ShotSpotter for working capital, equipment acquisition, financing permitted acquisitions, obtaining letters of credit up to a maximum amount of $3 million in the aggregate at any time outstanding and for other general corporate purposes. The line of credit from Umpqua is subject to customary affirmative and negative covenants for facilities of this type but includes certain limited exceptions … [Read more...] about ShotSpotter Closes Line of Credit With Umpqua Bank to Help Support Future Growth