Cash – DC Writers Way Fri, 17 Sep 2021 12:28:28 +0000 en-US hourly 1 Cash – DC Writers Way 32 32 Nayan Kambli’s Money2Me Plans to Become a Leading Gold Lending Company Wed, 07 Apr 2021 23:17:08 +0000
  • CEO Nayan Kambli believes that in the future, the digital market is where a lot of untapped potential lies.

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POSTED ON MAR 15, 2021 6:41 PM IST

Registered with the Reserve Bank of India, Money2Me is a private limited liability company that engages in non-bank financial services and is currently focused on providing gold loans. The company is headed by CEO and founder Nayan Kambli. He has over 21 years of experience in various areas of fundraising including IPO, debt syndication and private equity. vision expressed.

Money2Me revealed that over the next five years, they aim to become a leading gold lending company that will provide its services all over India. They aim to create a space in the Indian gold lending market and are set to become one of the top ten gold lending companies in the country through traditional and digital gold lending platforms. In expressing this ambition, Money2Me acknowledged that although the gold lending industry is constantly growing, some changes in the process are needed to make it more accessible to the public.

CEO Nayan Kambli believes that in the future, the digital marketplace is where a lot of untapped potential lies. The promising growth of online and digital models in gold lending by NBFCs and new age fintech companies has revealed the huge market of previously unreachable clients. With its ‘Ghar Baithe Gold Loan’ pledge, Money2Me said it will focus on developing the digital capabilities of this rising sphere.

But neither does Nayan Kambli ignore the validity and importance of the traditional gold lending system. He understands that there is already a large base of clients who are taking non-digital avenues to get gold loans. Money2Me also aims to host traditional gold lending services to cater to this segment of customers. ‘Humsafar Aapke Pragati Ka’ is their commitment which underlines this intention.

Money2Me intends to realize its vision by adopting a dual operating approach. By offering both traditional and digital gold lending services, they want to be a business that combines multiple options that can meet the needs of India’s diverse customer base. Nayan Kambli believes that this combination of already established services and a new era will be a big plus in Money2Me’s journey.

Disclaimer: This is a company press release. No HT journalist was involved in the creation of this content.


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Cook with simple and delicious recipes for the inexperienced Wed, 07 Apr 2021 23:17:05 +0000

STATEN ISLAND, NY – If you want to live on your own, cooking is a good skill to have. It’s also something you can do with your family and at your group residence, too. Who knows? You may find yourself helping someone else learn.

We reflected on some of the things we love to cook or eat, and then asked Chef Adrian Gresnigt, Director of Food Services and Executive Chef at Lifestyles Cafe, for advice and recipes.

“Beginners want to be better,” says Gresnigt. “They need an introduction to gain confidence.” Originally from Holland, he has been cooking since he was a teenager. His skills as an executive chef took him to Paris, where he worked in prestigious hotels, and Manhattan, where he owned his own culinary businesses.

When you start out, ask someone with a little more experience to help you with a recipe. Chopping and stirring are the main skills you will need to get started.

“Have fun with what you cook. Do not worry. It will be fine, ”said Joseph Padalino, correspondent for Life-Wire News.


It’s important “to be safe and to know what you’re doing,” adds Juliann V. And it starts with washing your hands.

– Before you start working in the kitchen, wash your hands. Chef Adrian Gresnigt, Director of Food Services and Executive Chef of Lifestyles Caffe, starts at the sink by singing “Happy Birthday”. (Still video / Life-Wire News) Life-Wire NewsLife-Wire News

ONE POT MEAL: Peppers, Potatoes, Onion (PPO)


  • 2 hot Italian sausages (pre-baked), chilled and cut into pieces
  • 2 mild Italian sausages (pre-baked), chilled and cut into pieces
  • 3 medium-sized boiled red potatoes (blanched in water until almost tender), refrigerated and cut into wedges.
  • 2 tablespoons of olive oil (100%)
  • 1 large red pepper (cut into large strips)
  • 1 large red green pepper (cut into large strips)
  • 2 garlic gloves (peeled and chopped)
  • 1 medium white onion (cut into medium strips)
  • salt and pepper to taste


Preheat the cast iron or Dutch oven on the stove top over medium heat.

Add olive oil, chop the onion and garlic for about three minutes until it caramelizes a little. Add the chopped potatoes to the pan and cook a little. Add the pre-cooked peppers and sausage pieces to the pot and cook until everything turns light brown over low / medium heat, making sure to stir the ingredients until cooked through.

Once the desired color and consistency is achieved, cooking may stop. Enjoy! Enjoy your lunch!

Make a meal in a pan

Sausages, peppers, onions and potatoes create a simple meal for one or two people. (Life-Wire News) Life-Wire News

Develop your skills in the unique dish with this pasta dish. Donna W has this advice to make things easier. “Prepare everything half an hour before you start cooking so you don’t have to run to the fridge for ingredients,” says Donna, who works in the cafe with Chef Adrian.


First, some pro tips on cooking pasta:

Prepare a large pot of boiling water. Add a little salt. You can also add a tablespoon or two of oil. Tip: “Remember that you can always add salt, but you can never subtract.”

Put the pasta in boiling water and stir for 30 seconds to break up the gluten and prevent the pasta from sticking together.

Cooking time: Varies for different types of pasta. Check the instructions on the packaging. Use as little time as possible as a guide.

“There should be some crunch. A small bite, known as “al dente,” in Italian “to the tooth,” says Gresnigt. “When you take it out of the water, it’s still cooking. If it turns white, that’s overkill.

Put a colander in the sink and when the pasta is done, drain it thoroughly.

“Never wash it,” says Gresnigt. He puts it on a baking sheet, then sprinkles a little oil or cooking water on it. Shake it with tongs or a fork to make sure it doesn’t stick together.

A match for Rigatoni

A well-seasoned stew, meat and veg cooked in a thick gravy over “wonderful pasta and grated fresh Parmesan, it will truly be heaven,” said Chef Adrian Gresnigt, Foodservice Director and Executive Chef of Lifestyles for the Disabled. (Life-Wire News / Aaron Bialer) Life-Wire News


For this recipe, Gresnigt recommends using crumbled pork sausages, which are small pieces or fully cooked pieces of pork. It comes frozen and is very handy. If you can’t find it, simply cut the Italian sausage into bite-size pieces before cooking, “and the results will amaze you, too.” “

Meat stew

  • 1/4 cup olive oil
  • 1 small onion (chopped, white)
  • 2 teaspoons of chopped garlic
  • 1/4 cup diced celery broth
  • 1/2 cup of red cooking wine
  • 2 cups tomato sauce or crushed tomatoes
  • 1/2 tablespoon of tomato paste
  • 1/2 teaspoon ground fennel seeds (optional)
  • 1 1/2 cups chicken or vegetable broth
  • 1 1/2 cups fully cooked crumbled sausage meat

Use a small Dutch oven. Add two tablespoons of olive oil (100%). Add the diced onion (medium to small) to the olive oil and sauté with 1 teaspoon of garlic until the onions become translucent. (Use a wooden spoon to stir around your ingredients)

Add the celery (also cut into small) to the translucent onions, sauté one more minute. Add 1/2 cup of red cooking wine to the pot and reduce by half. (Stir while the liquid simmers while the liquid evaporates to half the amount.) Next, add about 2 cups of crushed tomato or tomato sauce to the wine / onion / celery mixture, while slowly cooking over the Cook.

Add 1/2 tablespoon of tomato paste and cook for another 1 minute. Add 1 1/2 cups of chicken or vegetable broth to the pot.

Add the 1 1/2 cups of sausage crumble meat to the sauce or your pieces of crumbled Italian sausage in the pan. (Optional: add a few ground fennel seeds, 1/2 teaspoon) cook for about 10 to 15 minutes.

Check the seasoning (salt and pepper).

Cook the rigatoni. When done, add it to the pot and coat the pasta with the stew. Enjoy your lunch!

Make a perfect hard-boiled egg

– A perfectly cooked hard-boiled egg is not rubbery. It is soft, tender, fully cooked, but not overcooked. When a hard-boiled egg is overcooked, the egg yolk turns greenish. (Still video / Life-Wire News) Life-Wire NewsLife-Wire News


Good for breakfast, lunch or dinner. Serve with a piece of whole wheat toast and a side salad for a satisfying meal.

Perfectly boiled eggs. “It sounds simple, but you have to do it the right way,” Gresnigt explains. You can cook half a dozen and store them for a week.

Put the eggs in an empty saucepan and add water to cover them. Old eggs are better than fresh ones, says Gresnigt.

Bring the water to a boil. Lower the heat to simmer and set a timer for 10 minutes.

Prepare a bowl of ice water. When the timer rings, remove the eggs from the pot and immerse them in the ice water. It stops the cooking process and makes the peeling process easier.

To peel an egg, Gresnigt kicks it on the counter to crack the shell, then uses his fingers to peel. There is a lot of debate about the best way on Youtube. here is an example.

You can keep them for a week in the refrigerator. If you peel them, store them in a container with a lid. Place damp paper towels in the container before putting the lid on.

Make an omelet

– When the sides start to feel solid, use a spatula to lift one side and tilt the pan so that the uncooked egg sinks down. (Still video / Life-Wire News Life-Wire NewsLife-Wire News


A cast iron skillet is the key.

  • Small onion
  • A few small tomatoes
  • 3 eggs
  • Fresh basilic
  • A little salt and pepper
  • Cream, milk or half and half optional

Chop the onions, shallots and basil. Cut the tomatoes in half.

Break the eggs into a bowl. Whisk lightly.

Optional: add a small amount of cream, milk or half and half.

Heat the pan. Add a few tablespoons of olive oil and a tablespoon of butter to coat the bottom. Add the onion and tomato. Brown lightly. Pour in the eggs.

Sprinkle with basil and, if desired, Parmesan.

When the sides start to feel solid, use a spatula to lift one side and tilt the pan so the uncooked egg sinks down.

When the liquid has run out, fold over and cook for another minute or two to cook.

“Follow the recipe, but be creative. Creativity makes a great meal, ”says Larry O, who works at the grill at Lifestyles Cafe.

(Written in collaboration by Meredith Arout, Aaron Bialer, Kevin Distefano, Andrew Moszenberg, Joseph Padalino, Greg Perosi with Kathryn Carse)

Life-Wire News Service provides a voice for people with disabilities through a partnership between Advance / and Lifestyles for the Disabled, an agency serving people with developmental disabilities on Staten Island.

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Pandemic Advances Lending Technology, But Slows Lending Wed, 07 Apr 2021 23:17:03 +0000

Like most aspects of the commercial real estate landscape, loans have been influenced by COVID-19. As might be expected in a global pandemic, newly signed leases have declined and for some sectors mortgage default rates have skyrocketed. While some companies are tightening their purse strings and waiting for the storm to end before considering their next venture, others are hoping to take advantage of low interest rates and struggling asset prices. But even with a lot of dry powder ready to deploy, companies looking to buy still need to get approval from a lender, which could be a challenge.

According to the Mortgage Bankers Association (MBA), both commercial and multi-family loans are expected to decline by 59% in 2020, compared to the record volume of $ 601 billion in income-generating property-backed loans in 2019. This year, the MBA estimates that total loans will reach $ 248 billion and increase slightly to $ 390 billion in 2021. MBA Vice President of Commercial Real Estate Research Jamie Woodwell explained, “The current COVID-19 pandemic continues to disrupt commercial and multi-family real estate markets. Predictions amid social and economic responses to the virus are difficult, but we expect the origins to drop significantly[ly] this year before realizing a sharp partial rebound in 2021. ”Visibility into the future of the industry, including forecasting and valuation, is at an all-time low as different parts of the country struggle to elaborate and follow plans to reopen as COVID-19 cases increase. Some real estate companies are starting to use alternative data to help better assess the assessment.

Better valuation methods help companies understand the market, but they still don’t make it easier to access loan capital. I spoke with Tim Milazzo, CEO and co-founder of StackSource, a lending technology platform that acts as a marketplace for borrowers looking for business loans. Milazzo gave me an overview of the current lending landscape and why lending technology is so important right now. “Capital markets change, don’t they? Many other lenders have suspended their loans due to COVID. A lot of them are just trying to figure out their own portfolio and figure out where the economy is and where it’s going to be. So either they suspended the loans or they restricted them, ”Milazzo said.

Milazzo admitted that the second quarter of this year had been terrible for almost everyone, as the economy was essentially at a standstill. But, he thinks the situation is starting to be more positive. “Things are opening up a bit. The rates are also very low, so a lot of people are refinancing, ”Milazzo explained. The restrictive precautions lenders take make the transparency created by technology like StackSource more valuable than ever. “If people aren’t able to go talk to their local bank and get a decent loan now, they’ll look online,” Milazzo said. As more and more borrowers try to find lenders, they will end up using services like StackSource because they will have to buy from a larger market.

An online loan market offers several benefits to borrowers, including providing them with options in obtaining loans from hundreds of lenders, not just those near or in their city. “We keep track of who lends, how and on what assets. What are their sizing constraints? What are their pricing parameters? We have all of this information that we are tracking on hundreds of lenders. And so when someone has a loan application, we match them with all the relevant lenders in the market, ”Milazzo explained. By providing borrowers with the information they need, all in one place, it not only expands their options, but also helps them find the best deal for whatever they are looking to finance. This type of information is particularly useful during a time when lending is at its lowest.

Suspended or restricted loans not only mean fewer loans are approved, it also means loan terms are restricted as well. In some cases, lenders give less money for the same property, as opposed to pre-COVID loan amounts. According to Milazzo, even government-sponsored companies like Fannie Mae and Freddie Mac issue smaller loans or require higher cash reserves. “So if you buy a property for a million dollars and take a loan for half a million dollars, they may ask you to put more money in a reserve account, just to make sure” Hey , if this property stops producing income, we will still be able to withdraw from this account to continue paying. And so the reserves are very high in all areas, ”said Milazzo.

See also

Where you might have already secured a loan of 80 percent of the value of the property, it could now be as high as 60 or 70 percent. Borrowers need to be aware of what they are asking for and understand that loans are going to require higher standards. While pre-existing relationships have always been important in financing, they may not mean as much now, as lenders need to objectively consider less risky terms.

Likewise, borrowers may have to turn to different types of lenders than in the past. Large lenders like commercial banks and credit unions are highly regulated. Typically, these large organizations have more paperwork to deal with, which can slow them down. Alternatively, Milazzo said that “private lenders are adopting certain types of technology faster than banks,” which may mean borrowers might have a better chance of getting a loan with them. However, larger and older organizations like banks have adopted online document management portals faster, which can be useful during the loan closing process.

As with almost everything in commercial real estate, lending has long been a relationship process that relies little on technology. But as we have seen in other sectors of industry, HVAC automation To virtual tours, the pandemic is forcing commercial loan Luddits out of the Dark Ages and into the present (and the future). The credit landscape is going to see many changes in the months and years to come. From changes in loan-to-value ratio assumptions to fears of inflation due to monetary policy, obtaining a commercial loan will not be the same as before the pandemic. Borrowers and lenders will be reinventing the way they make loan deals, and technology will likely be at the heart of the reinvention.

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Trump gives Hill Dems the middle finger and there’s little they can do about it Wed, 07 Apr 2021 23:17:00 +0000

Even a global pandemic and economic crisis are not enough to shatter President Trump’s perception of the Democratic House as a den of haters and losers who care more about hurting him than helping the American public.

He was asked on Tuesday why he did not allow members from his coronavirus task force to testify in the House, Trump responded that the chamber is a “setup” full of “Trump haters.”

“They,” said Trump, “frankly, want our situation to be a failure, which means death.”

It was a remarkable overt political retaliation that not only undermined the official White House line – which individuals like Dr.Anthony Fauci were too busy battling the pandemic to spend hours in front of Congress – but also created a situation where only the president’s own party would be responsible for hearing his conduct. Indeed, shortly after Trump’s speech, the Republican-led Senate health panel announced that Fauci would testify there next week.

“It’s so political. I’ve never seen anything like it, ”said Representative Donna Shalala (D-FL), who is the Democratic House representative on the panel not yet functional to oversee expenses related to COVID-19. “I don’t remember anyone preventing us from testifying in one chamber of Congress against another… Not going to the People’s House is right – it’s stupid and it’s dangerous. “

The oversight of Congress has always been an irritant to the occupant of the White House. But rarely has a president ignored it so blatantly when the context has been so non-partisan and the stakes so high. Even before the emergence of COVID-19, Trump’s challenge to Congress had sparked legal battles that promised to rearrange the long-term balance of federal power. But his insistence on continuing to snub legislative power in the midst of a pandemic has sparked a whole new set of questions and frustrations.

“The fact that the President of the United States has ordered those responsible for the federal response to avoid appearing before Congress is shocking, irresponsible and will result in more loss of life,” said Representative David Cicillin (DR.I .). Democrats trying to understand the federal response to COVID-19, he said, are “limited to what the president says” and what mid-level officials in the administration “tell us during a conference call “.

Privately, Democrats have complained that the party should have anticipated this situation. Just a few months ago, the administration avoided subpoenas and requests for documents as part of the impeachment investigation. With these issues still in court, leadership – the argument goes – should have demanded stronger oversight structures in place before billions of dollars were spent supporting an imploded economy.

“[House Speaker Nancy] Pelosi has left Democrats largely invisible in negotiating legislative responses to COVID-19 and stepped aside at a time that calls for congressional oversight, ”said Jeff Hauser, founder and director of the Revolving Door Project, a public interest group. “A raging House could also ensure that Trump’s systemic errors are understood and beyond dispute to the 70% of Americans who are not willfully brainwashed by Fox News. Such public education is necessary to ensure that the federal government is never again so ill-prepared for a mass tragedy. “

These criticisms have been amplified as it has become clearer that existing oversight mechanisms have either been undermined, sidelined or largely neglected.

There has been, for example, no creation of a centralized database to show who has received so-called Paycheck Protection Program loans intended to help small businesses but also found the way to charming hotels and listed restaurant chains. A Democratic aide said the presumption was that the Small Business Administration would release this information under the provisions of the applicable law. But, conceded the assistant, “they are not”.

The congressional panel tasked with tracking the trillions of dollars on loan from the Federal Reserve and the Treasury Department was cleared six weeks ago. But it still lacks a chair, and appointed members can’t hire staff, making it fundamentally non-functional.

Meanwhile, the the president sidelined or sacked independent Inspectors General who have exposed or were able to reveal damning information about the administration’s COVID-19 response, while telling Congress it has the power to decide what lawmakers learn about the response pandemic, and not a special IG assigned to the task.

And, while administration officials involved in the COVID-19 response appeared before lawmakers in the early stages of the pandemic, they have since remained silent. None have testified since March 12, when there were less than 1,000 cases of the virus in the United States, and House Democrats told the Daily Beast that direct engagement with senior officials was inconsistent.

On April 15, for example, the cold e-mail administration a handful of Democratic lawmakers informing them that they had been selected from a congressional task force to advise Trump on reopening the economy. After an initial conference call the next day, no follow-up was scheduled until this week, when House members of the group were told there would be a second call with Trump’s top economic advisers Larry Kudlow and Kevin Hassett, Thursday. In the meantime, administration officials have asked lawmakers to contact them with their three “best ideas” on economic answers – “like homework,” an aide recalled.

In the absence of the traditional lines of surveillance and cooperation, there has been improvisation.

Bharat Ramamurti, appointed by Democratic Senate Leader Chuck Schumer to the new Congress panel, said he relied on friends and associates with expertise in his areas of expertise. And while he continues to encounter absurdly mundane obstacles (his computer ran out of batteries on Tuesday because the electricity in his neighborhood was down and he couldn’t venture elsewhere), he hoped the commission would soon have a chair and receive his report by May 9th.

“The other peculiarity of the supervisory board is that all members are appointed by Congress,” Ramamurti told the Daily Beast. “Our committee is the only one safe from tampering with the president, which is why it is really important to put the president in place as soon as possible.”

Meanwhile, external groups are attempting to reverse engineer the monitoring starting at the largest set of data points and working their way up to administration. Accountable.US, a non-partisan watchdog group, has filed nearly 200 public record requests and scoured hundreds of federal records to see if any publicly traded companies have secured P3 loans.

This still leaves gaping holes. And on those fronts, Democrats are scrambling to make matters right, with a group of lawmakers introducing legislation requiring disclosure of PPP loans and others calling for subpoenaing witnesses.

“They’re going to stonewall as much as they can,” Rep. Dan Kildee (D-MI) told The Daily Beast. “We cannot fold. We have to use the tools at our disposal. We may have to issue subpoenas and try all we can to get the information we need. “

Some Democrats argue that the party’s most effective mechanism for forcing the Trump administration to comply with congressional oversight would be the wallet. But few believe Pelosi will, or even could, effectively deploy such harsh tactics if the country’s economic situation remains dire. And so, the last hope is for public pressure to become so pervasive that members of the Trump administration will consider it in their political best interest to comply.

Already one member, former BARDA program director Dr Richard Bright, has agreed to testify before a House Democratic committee about a whistleblower complaint he filed detailing the missteps and systematic errors in judgment the administration made at the start of the pandemic. And it wouldn’t be unprecedented for the White House to eventually fall back on others.

In 2013, the Obama White House refused to make available for testimony personalities involved in the botched rollout of the Affordable Care Act on the grounds that their time fixing the website was too valuable to be spent on the Hill. Under threat of a subpoena, Senior Technology Officer Todd Park ultimately agreed to testify before the GOP-led House Oversight Committee.

Two professors, Mark J. Rozell of George Mason University and Mitchel A. Sollenberger of the University of Michigan at Dearborn, hailed the move at the time as a worthy easing of tensions between the two branches. Joined by The Daily Beast, both said similar Trump action would now be warranted.

“That’s why you have a hierarchical organization,” Sollenberger told The Daily Beast. “They are there to express organizational needs, to respond to Congress when it comes to organizational issues, the questions Congress has. This is how government works.

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The optimism of spring and living to replant Wed, 07 Apr 2021 23:16:58 +0000

All seem to be taking the plunge given expectations that April will bring at least one more big snowstorm. Kathy, who can’t wait for spring to start the outdoor projects in earnest, wants me to get the vegetable patch started.

“We should be planting potatoes on Good Friday,” Kathy said shortly before the day arrived. “Your mother did that a lot.

It was another time. At the end of the 1950s and 1960s. Banks, gas stations and many stores closed in the afternoon of the day, but the practice gave way to secular demands.

To learn more about Mychal Wilmes’ Farm Boy Memories, click here.

The Farmers’ Almanac reports that the Good Friday planting – like many other traditions – has centuries-old roots in Europe. Potatoes had just been brought across the Atlantic Ocean from South America and many Europeans thought the vegetable could be bad. To protect themselves from evil damage, growers sprinkled holy water on the ground before planting potatoes on Good Friday. Tradition has it that planning the daily grains and vegetables will produce exceptionally well.

Dad took it as the promise of a bumper harvest when April snow fell on the emerged ears of spring wheat and oats. Thunder and lightning were good too, as both fertilized the soil.

When the plantations got bogged down due to a long period of rain and cold, Dad bitterly complained that Soviet Union sputniks and American astronauts wasted the weather by piercing the fragile atmosphere. It seemed as good a reason as any for a boy who thought his father was wise about most things.

Spring is a time of renewal for the men and women of the earth. However, his arrival was feared at a time when the United States sought to save the nation from Confederate revolt during the Civil War. The Northerners left their units without permission to return home to help with spring planting, and the strength of the troops was weakened. Army commanders threatened the farmers and their sons with desertion. The attraction to return home could not be broken, and it was decided that the farmer soldiers could leave if they promised to return after planting was finished.

Many soldiers in the new states of Iowa, Minnesota, and the Dakota Territory did not live to see another planting season.

Thomas Jefferson – himself a farmer from Virginia – said after the Revolutionary War that “those who ram their guns into plows will plow for those who don’t.” plowshares. ”

Isaiah’s words have not yet been fulfilled.

The sons of farmers became Doughboys to fight on European battlefields in World War I and returned there and Southeast Asia for freedom and to avenge Pearl Harbor. Gold Star’s parents dreaded telegraphs and visits from grim-faced authorities. Parents and siblings left with what might have been; pain that subsides over time; and memories.

That we can live to see another planting season should not be taken for granted. In the depths of the 1980s, many farmers were caught off guard when their lenders turned them down for operating loans. Without fertilizer or seeds, they became spectators.

There is nothing worse, a farmer who got caught up in this time, told me, than watching someone else plow and plant the land that was once yours and the land that needed to be. one day be that of your children.

“It’s like a part of you is dying,” he said after losing what was once his.

Whoever works in unison with the earth is lucky to understand that the promise of spring is well kept by work but also by the help given by the creator who brings both rain and sun.

Mychal Wilmes is the retired editor of Agri News. He lives in West Concord, Minnesota, with his wife, Kathy.

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Biz2Credit study finds credit scores and average incomes Wed, 07 Apr 2021 23:16:55 +0000

NEW YORK, March 24, 2021 (GLOBE NEWSWIRE) – The Annual Report Biz2Credit Women-Owned Business Study found that although the incomes of women-owned businesses fell in 2020, their incomes increased, mainly because spending declined during the pandemic.

Average earnings of women-owned businesses averaged $ 330,226, higher than in 2019, but $ 421,928 lower than the average for male-owned businesses ($ 716,842) in 2020. L The analysis also found that while the average credit score (597) for a female business owner fell from 590 last year, it was 23 points lower than the average score for a male business owner. (620) in the study.

The Biz2Credit study examines 40,000 credit applications across the country for the entire previous year (2020) and examined the financial performance of small and medium businesses owned by women in the United States. Despite the austerity imposed by the COVID-19 pandemic, many women-owned businesses continue to find growth opportunities.

In 2020, the effects of the pandemic were particularly noticeable for women-owned businesses, many of which were historically less well funded than male-owned businesses.

“Weaker financial indicators among women business owners are indicative of a lack of service and attention provided by traditional financial institutions. This creates a gap in financial opportunities between women who run their own businesses compared to men, ”said Biz2Credit CEO Rohit Arora, who oversaw the study. “COVID-19 has highlighted this trend by exacerbating a long-standing funding gap between men and women. “

The Biz2Credit analysis looked at financial metrics including annual income, operating expenses, age of business, and personal credit score of the loan seeker.

Key Findings of the Biz2Credit Study on Women-Owned Businesses:

Performance of women-owned businesses

  • Average annual income increased from $ 384,359 in 2019 to $ 330,226 in 2020.
  • Average earnings (annual income – operating expenses) of women-owned businesses increased to $ 181,770 in 2020 from $ 107,804 in 2019, largely because spending declined from $ 276,554 in 2019 to $ 148,455 in 2020.
  • Average credit score for women entrepreneurs rose from 590 in 2019 to 597 in 2020.
  • Best industry: Services (excluding public administration) represented 26% of women-owned businesses in 2020.
  • The percentage of business loan applications from women-owned businesses decreased by 2% in 2020, compared to 2019.

Comparison of female and male owned businesses

Biz2Credit compared the health of male and female-owned businesses in its study, and the numbers point to a bigger problem. Women-owned businesses are much less likely to apply for loans. Part of the problem is that, on average, their businesses’ incomes were less than half the incomes of male-owned businesses and their credit scores were lower. Some specificities:

  • Female-to-male borrowing ratio: 27% of women vs 72% of male business loan applications according to Biz2Credit data in 2020.
  • Average annual income gap: women-owned businesses ($ 330,226) earned $ 421,928 less on average than male-owned businesses ($ 716,842) in 2020.
  • Average credit score: On average, the credit rating of women-owned businesses (597) was 23 points less than male-owned businesses (620) in 2020.
  • Average loan size for women-owned businesses ($ 36,981) was 33% less than the average loan amount for male-owned businesses ($ 55,061) in 2020.
  • Average age of the company for women-owned businesses 5 years (60 months) was below the enterprise age for male-owned businesses 6 years (72 months).


More than a quarter (25.8%) of women-owned businesses that applied for business loans in the past 12 months were in services (excluding public administration). Retail trade represented 17% of applicants, followed by health care and social assistance (9.5%), accommodation and food services (9.2%), construction (6.2 %) and arts, entertainment and recreation (5.5%).


Texas and California are the states with the most applications from women-owned businesses, followed by Georgia, New York State, North Carolina, Ohio, Pennsylvania , Michigan, Illinois and Tennessee.

“The average amount funded for women-owned businesses ($ 39,731) was 36% lower than for male-owned businesses ($ 61,958) in 2020,” added Arora, one of the leading experts at the country in small business finance. “After careful analysis, company factors, including lower FICO scores, young company age and higher operating expenses, played a bigger role in this gap, rather than gender. alone. But there is still a gender gap. “

Paycheck Protection Program (PPP) Round 2: Women-owned vs.Men-owned businesses

In December 2020, Congress allocated $ 284 billion for COVID small business assistance for a second round of the Paycheck Protection Program (P3). Biz2Credit looked at its data from PPP loan applicants and found that 49% of PPP Round 2 applicants were female business owners (compared to all SBA lenders at 31%). The average amount approved for PPP Round 2 applicants who identified as female business owners on the Biz2Credit platform was $ 22,000, compared to $ 30,000 for those who identified as male business owners.

Jennifer Moore, a self-proclaimed “mom-entrepreneur”, sees the $ 20,000 PPP loan she secured with the help of Biz2Credit as a “lifeline” that allowed her to keep her business home. Stickers by Jennifer, Go. The mother-of-two creates planning stickers that she usually sold at craft fairs and other events in and around Wayne, Michigan.

“I couldn’t make money locally, and COVID made travel unsafe, so I had to figure out how to run my business entirely online,” Moore said. “When selling online, the key is speed. Customers want things fast. I have new cutting machines; now i’m ready to cut and send the same day by Amazon prime. “

“P3 funding relies on companies like Ms. Moore’s that are working hard, adapting to new market realities and adopting creative solutions to overcome this pandemic. These loans help real small businesses stay viable, ”said Arora. “Biz2Credit is proud to be the leading national provider of PPP loans in terms of number of loans approved.


The 2021 data set for women-owned businesses includes nearly 40,000 completed credit applications received through the Biz2Credit platform from January 2020 to December 2020. The four most important variables in the analysis were: annual income, operating expenses, age of business, and personal credit score. The data was then compiled to examine female and male owned businesses based on annual revenue, operating expenses, age of business, personal credit rating, financing rate. and the average loan amount. The study covered 20 different industries, as well as geography.

About Biz2Credit

Founded in 2007, Biz2Credit has arranged over $ 3 billion in small business financing. The company extends its cutting-edge technology into customized digital platform solutions for banks and other financial institutions, investors and service providers. Visit or Twitter @ Biz2Credit, Facebook, and LinkedIn.

Media Contact: John Mooney, (908) 720-6057,

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Minnesota House Democrats Seek To Cut Taxes For Some, Raise Taxes On Others And Raise Education Spending, COVID Recovery – WIZM 92.3FM 1410AM Wed, 07 Apr 2021 23:16:53 +0000

MINNEAPOLIS (AP) – Minnesota House Democrats on Monday unveiled legislation that calls for more spending on education and recovery for those hardest hit by the pandemic while raising taxes for wealthy residents and large companies.

The package of bills follows the $ 52.5 billion budget targets released by House Democrats late last month, which is more than Democratic Gov. Tim Walz’s proposal and the GOP’s Senate proposal .

The legislation would offer more than $ 1 billion in tax cuts to workers, families and small businesses while raising taxes for the wealthy and businesses that have used the pandemic to fund investments in education and businesses. COVID-19 recovery efforts.

The tax bill echoes Walz’s proposal by expanding the state’s working family tax credit and creating a fifth tax bracket with a rate of 11.15% for higher incomes to $ 1 million for a couple filing jointly. The bill also includes a tax exemption for businesses that received up to $ 350,000 in loans from the Federal Paycheck Protection Program, which lawmakers said would include 90% of Minnesotans who received the loan, and tax relief on up to $ 10,200 in unemployment benefits received by workers.

“The fifth level is also trying to address the big disparities in income that this COVID-19 has brought,” said the chairman of the House Tax Committee, Rep. Paul Marquardt, of Dilworth. “This is a bill that creates more tax fairness but provides significant investments in COVID-19 recovery and investments in the future.”

The education budget bill – which includes $ 722 million in new spending for kindergarten to grade 12 – includes funding increases for preschool and school districts, as well as several measures to recruit teachers of color while improving school environments for teachers and students of color. .

The package also includes earned safety and sick leave, emergency paid leave for healthcare workers, and health and safety protections for meat and poultry processing workers. Other measures would provide grants to businesses that have lost revenue amid the pandemic, as well as other investments in businesses in underserved communities.

Senate Republicans oppose any further tax hikes, citing the state’s projected $ 1.6 billion surplus and about $ 4.8 billion in federal assistance to the state through the plan $ 1.9 trillion stimulus package from President Joe Biden. GOP Senate Majority Leader Paul Gazelka of East Gull Lake called the creation of a fifth tax bracket a ‘bad idea’ and reiterated his call for tax exemptions on all PPP loans .

“In Minnesota, you probably know we’re one of the highest taxed states in the whole country, and yet Democrats in the House are saying ‘we need more, we want more taxes,'” he said. he said in a video response on Facebook. “It’s the last thing we need right now.”

The budget bills mark the final stage in budget negotiations as Walz and leaders in the divided legislature work to develop a budget before the legislative session ends in mid-May. The bills are expected to go through committees this week before being introduced later this month. The next deadline for committee approval of finance bills is Friday.

Mohamed Ibrahim is a staff member of the Associated Press / Report for America Statehouse News Initiative. Report for America is a national, nonprofit service program that places reporters in local newsrooms to cover undercover issues.

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East Tennessee Development District Secures Over $ 800,000 In Small Business Loans | New Wed, 07 Apr 2021 23:16:50 +0000

The East Tennessee Development District, headquartered in Alcoa, receives more than $ 800,000 in federal funds to use for turnaround loans to businesses and nonprofits in 16 counties.

US Secretary of Commerce Wilbur Ross announced in a press release Thursday that the Economic Development Administration is providing $ 13.6 million in aid grants to restore coronavirus aid, relief and security economic, distributed among seven development districts of Tennessee.

Different from the popular paycheck protection program, the grant will manifest itself in every district in the form of a “revolving loan fund” – a source of money that can be reallocated to more applicants as they go. ‘it is reimbursed.

Locally, ETDD obtains a total of $ 814,000. According to officials, the maximum loan amount will be $ 200,000 and the minimum will be $ 25,000.

ETDD directors received confirmation that the grant program had the green light on Monday, even though they knew it was coming longer than that.

“Any business in our 16-county area is eligible,” ETDD executive director Terry Bobrowski said in a telephone interview on Thursday. “And they can use it for almost any purpose.”

Bobrowski said that while companies or nonprofits that are able to score the loan money will have to repay it, the benefit of getting a loan from ETDD is that the rates and schedules of payment will be “relaxed”.

What exactly “relaxed” means will depend on the candidates’ circumstances, he added.

While anyone can apply for the loan, not everyone can be accepted. ETDD will have the discretion to adjust interest rates and terms based on factors such as credit, available assets, and other factors, including how entities have been hit hard by the virus.

“We would consider a loan of an ice cream truck up to someone who might want to use this program to amortize funding for a much larger project,” Bobrowski said.

This new localized lending opportunity comes as other parts of the CARES Act like PPP and weekly unemployment benefits expire. But federal officials stuck to the “any help” principle when promoting the program.

“These investments will provide small businesses in Tennessee with the capital they need to bounce back from the coronavirus pandemic and, in turn, create a stronger and more resilient state economy for the future,” Ross said in the statement.

Bobrowski said, “The purpose of this program is to kind of fill a funding gap that exists for some businesses that might not be able to go to a bank and get a loan due to their situation. . We are an alternative to this.

“Sometimes a little help, a more affordable loan package, can make the difference between pursuing a business,” he added, noting that there was especially hope that they could help non-profit organizations that do not have access to conventional lending options.

Those who wish to apply can call ETDD 865-273-6003 and ask for Bobrowski by name, he said.

Follow @arjonesreports on Facebook and Twitter for more from municipal government reporter Andrew Jones.

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Velocity’s Account Revenue Solution ™ selected as finalist for 2021 Best of FinXTech Bank Manager Awards Wed, 07 Apr 2021 23:16:47 +0000

FORT LAUDERDALE, Fla .– () – Velocity Solutions announces that their Account Revenue Solution ™ has been selected as a finalist for the Bank Manager’s Best of FinXTech 2021 Awards in the Best Customer Experience Solution category. With the Best of FinXTech awards, Bank Director recognizes the efforts of emerging financial technology solutions based on the analysis of the capabilities of each solution, including actual results and feedback from banking partners. In addition, Velocity Solutions is automatically considered for the Best of FinXTech Connect award.

The Account Revenue Solution ™ helps financial institutions leverage big data and digital strategies to more effectively onboard new accounts, generate deposits, drive transactional activity and encourage cross-selling, while providing a rewarding experience for account holders.

“We are delighted to have been selected as a finalist for this prestigious honor,” said Christopher Leonard, CEO of Velocity Solutions. “The Account Revenue Solution ™ is an innovative product that provides the industry’s best and only solution for increasing performance at every stage of the current account lifecycle in an integrated software as a service package. Together with the Velocity Intelligent Platform ™, our customers have a single view of their entire account base, resulting in increased profitability and improved customer service.

“As a premier information source for all US financial institutions, Bank Director is committed to highlighting proven technology companies suitable for cutting edge banks with innovation through our annual Best of FinXTech awards. Said Michelle King, CMO of Bank Director. “We are delighted to recognize Velocity Solutions as a finalist in the Best Solution for Customer Experience category. ”

The winners will be announced on May 6e at 12:00 p.m. CT during a special live presentation on LinkedIn.

To learn more about Velocity Solutions’ Account Revenue Solution ™, visit

To see the full list of 2021 Best of FinXTech Awards finalists, please visit:

About Velocity Solutions, LLC

Founded in 1995 and managing the transaction accounts of over 30 million consumers and business owners, Velocity Solutions is the leading provider of income-generating solutions for community banks and credit unions. Our Velocity Intelligent Platform® powers all of Velocity’s solutions, using machine-driven intelligence that delivers powerful analytics and generates revenue, loans, account holder engagement and non-interest income for our customers. client financial institutions. For more information, please visit

About FinXTech

Launched in 2014, FinXTech is a Bank Director powered resource that specializes in connecting a hugely influential audience of U.S. banking executives with cutting edge technology partners. FinXTech facilitates collaboration between banks and tech companies – through its exclusive in-person events, editorial content and online platform FinXTech Connect. For more information, please visit

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]]> 0 Quicken Loans and Amrock Announce North Carolina’s First Online Remote Mortgage Closing – RISMedia | Wed, 07 Apr 2021 23:16:45 +0000

Quicken Loans and Amrock, an eClosing provider, announced the closing of North Carolina’s first online remote notarization (RON) mortgage. An emergency video notarization law was recently passed in North Carolina, allowing the implementation of RON eClosings.

“Modern technology continues to transform a historically heavy and paper-intensive process into a simple and seamless experience. RON is a convenience under normal circumstances, but it has become a necessity in these unprecedented times of social distancing as we focus on the health and safety of our customers, ”said Jay Farner, CEO of Quicken Loans. “Pioneering this technology in North Carolina was a priority for Rocket Mortgage. We constantly offer digital solutions to outdated problems and continue our mission to get RON adopted in all 50 states. “

In 2019, Quicken Loans became the first mortgage lender to offer eClosings in the 50 states.

Amrock successfully completed 85% of all electronic notes in the United States in 2020. Eligibility for electronic closure varies based on individual state laws and other factors. The spread of COVID-19 has highlighted the need for digital solutions in the mortgage industry, allowing notaries to perform their duties without having to sit in front of their client. Currently, 26 states have legislation allowing RON eClosings, and 17 of them are actively conducting them today. The rest of the states have enacted emergency legislation or executive orders providing temporary permissions, allowing notaries to perform electronic closings of some sort, including North Carolina.

“We are focused on innovations that take the hassle out of mortgage transactions and make the process easier for the end customer,” said Brian Hughes, CEO of Amrock. “I applaud the efforts of the North Carolina Secretary of State to move the mortgage closing experience online and allow clients and closing agents to work together quickly, securely, and securely.”

North Carolina Secretary of State Elaine F. Marshall is a strong advocate for electronic shutdowns in North Carolina. Its long-standing mission is to bring government business practices into the 21st century. A critical aspect of this is creating an environment for fast and secure home buying experiences for consumers, notaries, and lenders.

“North Carolina’s many years of leadership and preparation in making electronic closures an important option for consumers has never been more important than they are now in the face of this global pandemic,” said the secretary Marshall. “Passing the temporary emergency video notarization law was paramount to ensuring that vital real estate and business transactions can move forward, while taking into account the health and safety of everyone involved. I congratulate Quicken Loans and Amrock for taking this big step forward here in North Carolina.

For more information, please visit

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