MIAMI — An octogenarian and nearly blind, Julnor Jean was a soft target for a salesman with a creative finance gambit: Install solar panels now, pay them off over 20 years through his yearly taxes, and effectively have an energy bill near zero.The homeowner of Haitian descent speaks broken English and cataracts prevented him from reading the contract for a home improvement project that would be financed through a program called Property Assessed Clean Energy, or PACE.Nonetheless, he signed the deal, putting himself on the hook for an additional tax bill of more than $2,000 a year for the next two decades. Under the arrangement, the last payment would be due when he was 100.California pioneered these loan-like products to promote clean energy in 2010, but they ran into a host of problems there, partly because qualification was based on equity built up in the home, not cash flow or ability to repay the debt. Also, homeowners, mesmerized by a contractor’s sales pitch, … [Read more...] about No job? No salary? You can still get $20,000 for ‘green’ home improvements. But beware
Missouri hard money lenders
Increasing numbers of farmers are in financial trouble, according to surveys by Federal Reserve regional banks, including Minneapolis and Kansas City, together with farm bankruptcy numbers. The term “farm financial crisis” now means little to most people under age 40 — except in farm families or farm towns. For those who lived through it, the dramatic problems of the 1980s that involved large numbers of bankruptcies and land foreclosures are still remembered, especially in states where farming continues to be important. So when there is news that farm bankers see many of their customers” financial positions deteriorate and farm bankruptcies rise, questions arise. Here are some of them: How severe are current problems? Do we face wrenching, sector-wide financial trauma as in the 1980s? Current problems are severe and farms producing a large portion of total ag output are in financial straits, even if not all destined for bankruptcy. But while loan defaults and … [Read more...] about Real World Economics: Today’s farm crisis was long in coming
Industry Briefs are provided as a free service to our readers. Company news information may be sent to [email protected] The submission deadline is one week before publication. AGRICULTURE • The Downtown Winter Market has opened at the Rio Grande Depot, 300 S. Rio Grande St., Salt Lake City. It features more than 70 local vendors and takes place Saturdays, 10 a.m.-2 p.m., through April 20. The market is in its sixth season. Details are at slcfarmersmarket.org. ARTS/ENTERTAINMENT • The Governor’s Office of Economic Development (GOED) board, at its November meeting, approved a Motion Picture Incentive Program tax credit of up to $550,000 for 1483 Inc. for its production of “Inheritance,” a feature thriller. The production is expected to spend $2.75 million in Utah, including during principal photography set for Nov. 26-Dec. 21. The production will have 23 cast members, 84 crew members and 250 extras. Shooting is expected to take place in and around … [Read more...] about Industry Briefs 11-19-18
Kevin Hardy and Donnelle Eller Des Moines Register Published 7:58 PM EDT Nov 2, 2018 DENISON, Ia. — The retired men who gather around the big table in the corner each weekday at Cronk's Cafe invariably discuss politics over their eggs, hash browns and coffee. So it was inevitable that Friday morning's conversation quickly drifted from next week's midterm election to the swirling developments surrounding U.S. Rep. Steve King and his bid for a ninth term. No stranger to controversy, King has made waves in recent days after the Washington Post reported he met with a far-right Austrian group founded by a former Nazi — charges King vehemently rebuffed. The Kiron Republican drew more scrutiny Thursday when he shouted down a protester in Des Moines who compared King's views to those of a man charged with gunning down 11 Jews at a Pittsburgh synagogue last week. But even as national pundits question whether King has finally … [Read more...] about After week of controversy, is Iowa’s 4th District still behind Steve King?
/EIN News/ -- Mission-Driven Lender Makes Annual List as One of Bay Area’s Fastest Growing Private Companies for Third Time in a Row SAN CARLOS, Calif., Oct. 19, 2018 (GLOBE NEWSWIRE) -- Oportun today announced that for the third year in a row it has been named to the Silicon Valley Business Journal Fast Private Awards. “This recognition is important validation of our entire team’s hard work in service to our customers,” said Oportun CEO Raul Vazquez. “As long as there are people in the United States who are shut out of the financial mainstream, we will strive to grow so we can serve their needs and help them build a better future.” All companies ranked in the Silicon Valley Business Journal Fast Private Awards are privately held corporations with documented revenue increases over the last three years as verified by independent auditors. About Oportun Oportun is a mission-driven, technology-powered provider of inclusive, affordable financial … [Read more...] about Oportun Named to Silicon Valley Business Journal Fast Private Awards