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While the timeshare industry never reached the lows the hotel industry did during the economic downturn, timeshare still has some recovering of its own to do. 'I wish I could [...]

Karen G. Mills, administrator of the U.S. Small Business Administration will address members of the International Franchise Association during its 50th Annual Convention in San Antonio Feb. 5-8. 'We are [...]

'We are pleased that the President continued to acknowledge that the lack of credit availability for small businesses is slowing the recovery efforts and stalling the significant job creation potential [...]

When minority leaders objected to the takeover of Bank Western by Minneapolis-based First Bank System Inc., the disabled community was a new and vocal partner in the protest. The challenge [...]

Interactive Marketing Solutions Description: This file contains credit card holding consumers who are all seeking and applying for additional lines of credit. They are big spenders not afraid to pull [...]

A former help-desk worker at Teledata Communications, Inc., a Long Island-based software company that provides banks with access to credit information databases, plead guilty in September to taking part in [...]

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Agway Inc. announced Oct. 22 that the U.S. Bankruptcy Court for the Northern District of New York approved the company's motion for access to the full amount of the $125 [...]

PLANO, TEXAS-BASED LANDSAFE INC. HAS released new interface upgrades enabling users of San Jose-based Calyx Software's POINT[R] loan origination software (LOS) to order LandSafe credit reports easier and faster. The [...]

This article discusses the issue of limited access to credit in developing countries, where over 130 million businesses and 1.4 billion individuals lack access to credit. The high costs and complexity of providing credit in these markets have resulted in limited access. The article proposes the use of predictive cash flow modeling (PCM) as a solution to assess individuals' ability to repay loans, even with limited data. PCM involves using statistical models to forecast income and expenses for specific population segments, allowing lenders to determine the appropriate amount of credit to offer. The article suggests that PCM could significantly expand credit access to those who are currently excluded. [Extracted from the article]

A survey by the National Foundation for Women Business Owners and Wells Fargo Bank indicated that more businesswomen are looking for bank loans, are getting loans in large amounts and are continuing to employ loans for expanding their businesses. However, businesswomen still have less bank loans than businessmen and minority businesswomen continue to find it hard to get capital. The study also showed that businesswomen whose companies are beyond the start-up phase are becoming more cognizant of the need for additional funding to expand their businesses., Women business owners are seeking bank credit for their firms with greater frequency, obtaining credit in greater amounts and continuing to use credit for business expansion. However, women entrepreneurs continue [...]

The Women's World Banking organization sponsored a forum in New Delhi, India, to encourage governments to provide financial access to poor women. During the forum, the 50 participating countries agreed on a model to establish national financial systems for financially-deprived citizens. The model urges financial institutions to offer small loans that can readily be paid by low income individuals.

Reports on the effects of advances in information technology on the credit management businesses in New Orleans, Louisiana. Rewards and risks associated with information technology; Comments made by John Johanson, director of marketing for mid-Continent Agencies Incorporated; Concerns about privacy and security technology has created. INSET: Have you had your credit checkup?..

Announces the inclusion of optometric equipment for availment of direct access tax credit. Citation of the Tax Court ruling in Hubbard, TCM 2003-245 on the taxpayer's request for a disabled access credit; Illustration of a case involving the inability of a company to pay within two-and-a-half months of the payor's year-end; Decision of the court and the Internal Revenue Service regarding the matter.

"In terms of the speed and pace of re-normalization, thosewill have to respond to Thailand-specific considerations"more than what other countries are doing, Governor SethaputSuthiwartnarueput said Thursday in a Bloomberg TV interviewwith Haslinda Amin. The Bank of Thailand sees access to credit for businessesas a more pressing issue for the economy than interest-ratelevels, and will stay focused on domestic concerns amidpossible normalization by other central banks. [Extracted from the article]

The second edition of the MSME Sampark Report by Dun & Bradstreet and UGRO Capital highlights the recovery of micro, small, and medium enterprises (MSMEs) in India post-pandemic. The report shows that over 50% of the studied MSMEs experienced more than 10% year-over-year growth in sales from May 2021 to March 2024. It emphasizes the importance of formalization and digitalization in enhancing MSMEs' access to credit and growth opportunities, with a focus on increasing the resilience and potential of these businesses. The report also discusses the role of NBFCs in bolstering MSME growth and the need for policies and initiatives to support the continued growth and prosperity of MSMEs in India. [Extracted from the article]

The article reports on the plan of Access Federal Credit Union to open its sixth office in Waterville, Maine. The company is leasing 3,000 square feet on the main floor from John and Wayne Brouillette and has a small amount of renovation work to complete before opening. The total project cost for opening the branch will be between $75,000 and $100,000.

The article reports that a U.S. Tax Court has ruled that taxpayers are not entitled to a disabled access tax credit under Internal Revenue Service Section 44. Disabled access tax credit is disallowed because taxpayers did not subscribe to an enhanced telecommunication program in compliance with the Americans with Disabilities Act of 1990. In order to claim a disabled access credit, a taxpayer must have an eligible small business for the year and made an eligible business expenditure during that year.

The article reports on the call of the National Association of Home Builders (NAHB) on March 2, 2011 on Congress to take steps to improve access to credit for small builders in the U.S. According to NAHB chairman Bob Nielsen, the congressional action is needed to help open the flow of credit to home builders. It outlines some of the initiatives pursued by the association like the national debt/equity fund, the state housing finance agency, and the production financing/rent-to-own program.

This article is a research disclosure which provides information on a method of preventing unauthorized access to credit cards with radio frequency identification (RFID) capabilities. Credit cards with RFID capabilities allow consumers to pay for their purchases quickly and easily. Their information can be gathered as one stand by the register. Such credit cards can be read without having to be removed form one's wallet or purse, which can be convenient for shoppers, but can also be convenient for thieves as well. A solution for such a potential problem of the RFID capabilities of credit cards being compromised is to enclose the credit card in a sleeve, which is made from a conductive material. The sleeve will act as a Faraday cage and prevent the card from being read. Also, making an entire purse or wallet out of the conductive material will allow multiple RFID-enabled devices to be protected. Larger bags, boxes, or enclosures could be used to protect large devices for unwanted access such as personal digital assistants, cell phones, or laptops.

Recent work on white women in Jamaica has shown that they were active participants in Jamaica’s slave economy. This article adds to this recent literature through an innovative use of social network analysis (SNA) to examine the credit networks in which women operated in the thriving eighteenth-century British Atlantic town of Kingston, Jamaica. In particular, it uses closeness and centrality measures to quantify the distinctive role that white women had in local credit networks. These were different from those of men involved in transatlantic trade, but were vital in facilitating female access to credit enabling domestic retail trade. White female traders in particular facilitated female access to credit networks, acting as significant conduits of money and information in ways that were crucial to the local economy. Their connectedness within trade networks increased over time, despite their greater exposure than larger traders to economic shocks. We therefore demonstrate that white women were active protagonists in the developing economy of eighteenth-century Jamaica.

This article provides an update on consumer confidence, consumer sentiment, and small-business optimism in June 2024. The Consumer Confidence Index slightly decreased but remained within a narrow range. Consumers had mixed feelings about the present situation, with increased sentiment about the current labor market but a decrease in assessment of current business conditions. The Consumer Sentiment Index also decreased slightly but remained higher than the previous year. Small-business optimism reached its highest level in 2024 but remained below the 50-year average. Small-business owners identified inflation and labor quality as top concerns. The Supreme Court is taking steps to reduce regulatory costs for small businesses and address tax uncertainty and government debt. However, the housing market remains unaffordable for many young people, and builders face constraints in constructing new houses. Small business owners are pessimistic about the economy and face challenges in filling open positions. Small business sales are weak, and concerns about inflation persist. On the other hand, there is growing optimism about the business climate, and small businesses expect revenue and investment to increase. Middle-market firms are experiencing strong financial performance and anticipate improvements in gross revenues and net earnings. They also expect increased productivity-enhancing capital expenditures. Prices have stabilized at higher levels, and access to credit has improved. [Extracted from the article]

The purpose of this paper is to critically examine the corporate social responsibility (CSR) initiatives of multinational oil companies (MOCs) in Nigeria. Its special focus is to investigate the impact of the global memorandum of understanding (GMoU) on enhancing rural women’s financial inclusion in the areas of access to credit, insurance, propensity of women to save and the widening of economic opportunities in the Niger Delta. A total of 800 rural women were sampled across the Niger Delta region of Nigeria. Results from the use of a combined propensity score matching and logit model indicate that the GMoU model has made significant impact on closing the gaps in financial services, thereby removing women’s constraints on their efforts to enhance their financial literacy. The results also confirm that innovative delivery channels and social networks of the GMoUs have reduced some costs in the areas of access to credit, insurance, propensity to save and the widening of economic opportunities of rural women in the oil host communities. However, a further look at the rural women’s participation in the CSR activities using SCOTDI shows that even though the involvement of the women is appreciable, it is insignificant when compared with their male counterparts.

This article discusses the microloan program of the U.S. Department of Agriculture which will help producers secure loans under 35,000 dollars. The goal of the project is to develop producers through their start-up years by providing needed resources and increasing equity until they finish commercial credit and expand their operations. Information on the agency's Strike Force Initiative is presented. The farm loans may be used to purchase land or livestock or for farm improvements.

The article reports on the launch of the REI Visa App iPhone application by U.S. Bancorp, parent firm of U.S. Bank, which allows retail partners to provide instant credit to customers.

The article reports that the National Tooling & Machining Association (NTMA) and the Precision Metalforming Association (PMA) praised the U.S. House of Representatives for passing the Small Business Lending Fund Act of 2010.

Reports on the incidence of white-collar crimes by accessing credit cards. Number of active cases of credit card fraud in various stages of development; Kinds of credit card fraud cases; Illustrative example.

Federal Reserve Governor Michelle Bowman emphasized the importance of not rushing to regulate artificial intelligence (AI) in the financial sector, acknowledging its risks while also highlighting its potential benefits. AI could enhance operational efficiency, combat fraud, and expand access to credit, with the possibility of improving data reliability for central bankers. The use of AI may impact monetary policy discussions by altering labor markets and productivity, although the extent of its contribution remains uncertain. Fed policymakers are exploring how AI could explain the recent increase in US labor productivity. [Extracted from the article]

Ally Financial Inc. is facing challenges with borrowers who purchased expensive cars in 2022 and are now struggling to make high monthly payments due to elevated used-auto prices and soaring inflation. The company's Chief Financial Officer, Russ Hutchinson, highlighted that while borrowers still have jobs, they are finding it difficult to manage loan payments and increased car-ownership costs. Ally has tightened access to credit to mitigate losses, with a focus on stabilizing auto credit for future borrowers. Additionally, even higher-income consumers are feeling the impact of rising car prices, prompting Ally to verify income and employment for potential borrowers more rigorously. [Extracted from the article]

The article discusses the emergence of shadow banking in Zimbabwe as an alternative financial system to traditional banks, providing credit to small and medium enterprises (SMEs) and individuals who struggle to access loans. While shadow banking fills a financing gap, it raises concerns about high interest rates, lack of regulation, and potential financial instability. The informal lenders offer more flexible terms than formal banks, but the high interest rates can trap borrowers in cycles of debt, particularly those with thin margins. Advocates call for regulation to protect borrowers and prevent systemic risks, highlighting the need to balance access to credit with financial stability. [Extracted from the article]

The Zimbabwe Mercantile Exchange (ZMX) has introduced the Warehousing Receipt System (WRS) to support rural industries and smallholder farmers in Zimbabwe by providing them with access to credit and market stability. Farmers can deposit their crops or livestock in certified warehouses and use the receipt as collateral for loans, addressing cash flow challenges. The system aims to boost productivity, rural industrialization, and market stability, benefiting both farmers and buyers. While the WRS offers significant benefits, challenges such as ensuring warehouse accessibility in remote areas need to be addressed for its success. [Extracted from the article]

Dohman, Akerlund & Eddy, LLC, a company providing auditing services to hospitals in the Aurora area, experienced a data incident where protected health information was accessed by an unknown party on February 28, 2024. The potentially impacted information included patient details such as name, address, Social Security number, medical treatment information, and health insurance details. In response, DA&E notified law enforcement, implemented additional security measures, and offered affected individuals access to credit monitoring and identity protection services as a precaution. The company has no evidence of misuse of the information but is taking steps to prevent similar incidents in the future. [Extracted from the article]

The informal economy in South Africa plays a significant role in the country's GDP and job creation, but lacks access to credit. To address this, digital payments and secure digital identities are needed to verify customers and extend finance based on trading history. The informal sector needs to be connected to government and businesses to create opportunities for collaboration and growth. Banks and organizations like the United Nations Capital Development Fund propose formal banking for informal entrepreneurs, with digital identity playing a crucial role in transforming the informal economy and enabling access to finance. [Extracted from the article]

In countries where indirect financing dominates, the geographic distribution of financial resources to firms is crucial in enhancing credit availability and improving innovation quality. This study examines the impact and heterogeneity of financial geographic structure on firm innovation quality. Using the number of bank branches surrounding Chinese listed companies as a proxy for financial geographic structure, we employ a multidimensional fixed effects model and Heckman's two-stage method, finding that a higher density of bank branches significantly enhances firms’ access to credit. This fosters innovation by increasing invention patent applications in high-tech non-state-owned enterprises and green patent applications in non-high-tech state-owned enterprises. However, as economic policy uncertainty increases, the positive effect of financial geographic structure on firm innovation diminishes. Hence, countries facing substantial policy uncertainty and relying on indirect financing must strengthen multilevel financial markets and encourage commercial banks to provide greater support for firms pursuing higher levels of innovation.

The U.S. bank branch network has contracted since the 2010s, limiting borrowers' access to credit institutions. This paper analyzes the changes in banks' branch concentration and their effect on borrowers' choices of being self‐employed. To evaluate the impact of the bank branch closings, I use a shift‐share research design to assess self‐employment exits using zip code variation in preexisting bank market shares. I disaggregate the self‐employed into two categories: entrepreneurs whose businesses depend on business loans (incorporated self‐employed) and other self‐employed individuals (unincorporated self‐employed). Using a Community Advantage Panel Survey, I find that the proximity of credit market institutions has heterogeneous effects on self‐employment exits. While bank branch closures lead to a decline in incorporated businesses, particularly within a five‐mile radius, unincorporated businesses appear insignificantly affected.

Emerging adults in the U.S. face significant economic uncertainty during the early life course. Economic uncertainties grew in the 2000s, especially for the Millennial cohort. Access to credit can be a resource to manage the instability that characterizes emerging adulthood. However, debt can also become a burden, making credit like a “double-edged sword.” We study inequality in debt holding for five debt types that provide distinct resources and burdens, including mortgages, car loans, student loans, credit cards, and other debts to businesses. We analyze the extent to which the Millennial cohort accumulated unequal debts by the end of emerging adulthood using the National Longitudinal Survey of Youth, 1997 Cohort. We find strikingly unequal debt holding by education, race/ethnicity, and education-by-race/ethnicity for Millennial emerging adults. We conclude that policies and programs that support emerging adult financial wellbeing will be crucial for healthy development and reduced inequalities during this life course stage.

Focuses on the survey conducted by the National Foundation for Women Business Owners and Wells Fargo Bank on the access of women business owners to bank credit in the United States. Frequency of use of bank credit by business women; Comparison to the access of men to credit.

Opinion. Considers the issue of whether employees of small business should enjoy the same benefits of credit union membership as big business. Move by legislators to make changes to an outdated law which greatly diminishes the ability of small businesses to provide credit union membership; Provisions of the Credit Union Membership Access Act.

Describes the benefits of credit union membership to small businesses in the United States. Impact of increased credit union membership on the banking industry; Passage of the Credit Union Membership Access Act which allows credit unions to expand; Benefits of loans made by credit unions to working families.

Reports on the passing of a legislation in the US Senate to change an outdated law which in effect diminishes the ability of small business to provide credit union membership to their workers. Sponsors of the Credit Union Membership Access Act; Expansion of credit unions under the legislation.

(Bloomberg) -- India's #MeToo movement has boosted awareness about the epidemic of sexual harassment faced by women in the country, with some saying they are witnessing the beginnings of long-overdue legal and cultural changes. Bloomberg is gathering business and government leaders as well as activists for the first time in Asia to discuss the road ahead. State Bank of India Chairman Rajnish Kumar speaks to Bloomberg Opinion Columnist Andy Mukherjee (3:40 p.m.). [Extracted from the article]

The company has already reached a billion-dollar valuation, but the founders hope to expand its financial services even further and to help reduce the racial wealth gap. TIME 100 NEXT Innovators Wemimo Abbey's and Samir Goel's families faced many obstacles after immigrating to the U.S., including limited access to credit. In 2018, the pair founded Esusu, which helps people build credit in America by reporting tenants' on-time rent payments to credit bureaus. [Extracted from the article]

The article reports on the proposed minor adjustments of the Consumer Financial Protection Bureau (CFPB) to its mortgage rules to ensure access to credit in the U.S. It highlights the statement of CFPB Director Richard Cordray about the proposal which is designed to encourage lenders to provide access to credit to consumers seeking loans. It mentions the the Ability-to-Repay rule of the bureau.

AbstractThe continual development of construction products is linked to the actors’ long-term persistent viability, capacity, and reputation involved in the construction process. If these businesses fail, the skills and expertise available to the construction industry today will be lost to future generations. One of the actors is Small and Medium Enterprises (SMEs) which play a crucial role in developing countries’ economies. Keeping this in view, this research aimed to identify the weakness and suggest the mechanisms for the effectiveness of the construction companies development programme in the Southern Regional State under the Universal Rural Road Access Program (URRAP). Besides the URRAP program design document analysis, a desktop study on contractor development programmes of six African countries’ practices was conducted for comparison. The program’s design document lacked: specific detailed objectives on methodology and a detailed time-frame to achieve construction company development, business and management-related training, holistic development addressing all of the essential issues, and supporting financial institutions for access to credit and financing. For developing URRAP construction enterprises, there is a felt need to create a conducive business environment, and improve access to work opportunities, training and advisory services, and programme structure, such as support initiatives, should be planned and implemented.

The article discusses the challenges faced by small farmers in California during historic storms in 2023. The storms caused flooding and destruction of crops, leading to significant financial losses for these farmers. Small farmers, who make up two-thirds of the state's farms, lack the support and resources available to larger operations, such as crop insurance and government disaster payments. The article highlights the barriers faced by farmers of color, including language barriers and immigration status. The lack of assistance for small farmers has led to the decline of these farms and has broader impacts on families, communities, and the environment. The article also discusses the challenges faced by small farmers in accessing financial aid and support after natural disasters. The USDA's Farm Service Agency (FSA) has been overwhelmed with applications, and there is a gap between the needs of underserved farmers and what FSA can provide. The FSA has a history of discrimination, and funding often takes a long time to arrive, leaving farmers without the resources they need. State aid has also been insufficient, with funds being allocated to for-profit companies instead of community-based organizations. Nonprofits, researchers, legislators, and officials are advocating for changes to improve access to credit programs, crop insurance, and holistic support for farmers. Without these changes, small farms are at risk of failing, which would have negative impacts on rural communities, land stewardship, and food diversity. Despite the challenges, farmers like Maria Narez and Nancy Nuñez remain determined to continue farming and pursue their dreams [Extracted from the article]