Environment profit – G Net http://gnet.org/ Wed, 15 Sep 2021 10:11:10 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://gnet.org/wp-content/uploads/2021/05/default-150x150.png Environment profit – G Net http://gnet.org/ 32 32 Brewery Financing & Loans https://gnet.org/instant-online-payday-loans-for-bad-credit/ https://gnet.org/instant-online-payday-loans-for-bad-credit/#respond Tue, 11 May 2021 10:46:18 +0000 https://gnet.org/?p=600 Starting and running a brewery business can be expensive, with start-up costs that can easily top $1 million or more. That’s where brewery financing comes in. You’ll likely need financing to start and grow your brewery.]]>

Starting and running a brewery business can be expensive, with start-up costs that can easily top $1 million or more. That’s where brewery financing comes in. You’ll likely need financing to start and grow your brewery.

Here at https://greendayonline.com/ we’ll discuss a variety of lending options for microbreweries, craft breweries and tap rooms. 

Craft Brewery Finance

According to the nonprofit Brewer’s Association, there are over 8800 regional craft breweries, microbreweries, taprooms and brew pubs in the U.S. While the number of regional craft breweries declined in 2020, all other categories continued to grow. For many small business owners, a brewery part business opportunity and part fulfillment of a dream. But that dream requires dollars— and often a lot of them. 

There are many items a brewery owners may need to finance, including:

  • Real estate purchase or renovation. Those sloped floors cost money!
  • Taproom construction, renovation or build out 
  • Brewery equipment, including kegs, boilers, fermentation tanks and refrigerators
  • Bottling equipment including bottles, labelling machines, and canning lines
  • Waste treatment and disposal systems
  • Licenses and permits, including a state liquor license

And that’s just scratching the surface! It’s easy to see how costs can add up quickly. 

Build the Foundation First

If you’re determined to build a brewery business, your first job is to make sure you create a solid foundation for your business. It’s not enough to create a product that beer lovers clamor for; you’ll have to make sure you have systems in place to manage cash flow, keep your employees paid, and survive the ups and downs that all brewer owners experience from time to time. 

A business plan is essential and it must contain detailed sales and financial projections, pricing, and distribution plans. You’ll need to build in a realistic timeline for getting up and running (or expanding), which can easily take 4-12 months or longer.

Make sure you have a business bank account and that you use it exclusively for business purchases. 

Work with a CPA or accounting professional with experience in this type of business if at all possible. The book Small Brewery Finance: Accounting Principles and Planning for the Craft Brewer by Maria Pearman can be a helpful resource as well. 

Tip: Tap into free resources from Small Business Administration partners. You can get free help with your business plan, marketing and ongoing mentoring from your local Small Business Development Center or SCORE. 

Brewery Financing Options

There are a number of options you may consider when it comes to getting financing: 

SBA Loans & Bank Financing

The SBA guarantees certain small business loans. Some of these loans may be available to a qualified start-up brewery though most banks and traditional lenders prefer to work with more established businesses. 

Except for disaster loans, SBA loans are made by lenders approved by the SBA. That means you may need to shop around to find the SBA lender that’s a good fit for your business. 

SBA loan programs that may be particularly helpful for a brewery loan include the SBA 7(a) program which provides loans of up to $5 million that may be used for working capital, real estate, equipment and refinancing debt. 

The CDC 504 loan program offers loans in partnerships with a private lender and a non-profit Community Development Corporation. These loans may be used to finance a new location or to rehab or expand real estate for your business, or to acquire or expand equipment. 

Keep in mind that SBA loans typically require good personal credit scores. For certain SBA loans business credit may be checked as well. (Learn how to establish business credit here.) They will likely require business tax returns (if available), up-to-date financial statements and a significant amount of paperwork. Approvals can take several months. But if you do qualify, the terms will often be excellent.

Equipment Financing

Breweries must often invest heavily in equipment. At times it makes sense to purchase used equipment at a steep discount. In other cases, equipment leasing may allow your business to obtain the equipment it needs without a significant cash outlay. Leasing may provide tax breaks as well, depending on the structure of the lease. 

You can check with the equipment manufacturer to learn if they offer leasing (either themselves or through a partner) or work with a company that will help you find a lease through a third-party leasing company. 

Crowdfunding & Investors

Investors may be able to provide some of the capital you need to get started, though that also means giving up some equity in your business. If you aren’t well-connected to those who can write large checks, you may want to investigate equity crowdfunding. It allows business owners to raise up to $5 million a year using SEC-approved online platforms. Reward crowdfunding allows you to raise any sum of funds, but instead of equity in your brewery you’ll provide rewards. It could be anything from a t-shirt to a tasting to a craft beer named after a top backer. 

Vendor Terms

Your suppliers may be willing to give you trade credit. That means you’ll have extra time to pay for those supplies, which can improve cash flow. For example, net-30 terms will give your business 30 days from the invoice to pay. 

Business Credit Cards

While it’s unlikely you’ll have credit limits large enough to finance a brewery, your credit cards can give you extra time to pay for essential items in your business, as well as to borrow money quickly at a relatively low interest rate compared to other types of fast small business financing. Business credit cards are often available to start up businesses, as the decision is typically based on the owner’s personal credit and income from all sources. 

The bottom line is that the right financing is one essential ingredient in the recipe for a successful brewery business. Take the time to investigate your options and whenever possible line up financing before you need it.

Read more

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Alabama 2021 Legislative Report: Week seven https://gnet.org/alabama-2021-legislative-report-week-seven/ https://gnet.org/alabama-2021-legislative-report-week-seven/#respond Tue, 11 May 2021 07:21:58 +0000 https://gnet.org/?p=393 The Alabama Legislature convened for Day 17 of the 30 day Regular Session on Tuesday, March 30. The Legislature met in Session on Tuesday and Thursday with 21 committee meetings held throughout the week. 974 bills have been introduced to date, 591 in the House and 383 in the Senate.  The Legislature will return to Montgomery […]]]>

The Alabama Legislature convened for Day 17 of the 30 day Regular Session on Tuesday, March 30. The Legislature met in Session on Tuesday and Thursday with 21 committee meetings held throughout the week. 974 bills have been introduced to date, 591 in the House and 383 in the Senate. 

The Legislature will return to Montgomery on Tuesday, April 6, for Day 19 of the Session with the House convening at 1:00 p.m. and the Senate convening at 2:30 p.m. 

Significant floor passage this week

HB248 by Rep. Rich: To provide for the broadcast of public K-12 school sporting events. 

HB273 by Rep. Drummond: To raise the minimum age for legal possession, transportation, and purchase of tobacco products, electronic nicotine delivery systems, and alternative nicotine products from 19 to 21. 

HB410 by Rep. Lee: To extend the existing sales and use tax exemption on parts, components, and systems used in the refurbishing of aircraft. 

HB411 by Rep. McCampbell: To create a Law Enforcement Officer Employment Database, and require law enforcement agencies to report certain complaints, disciplinary actions, and background information. 

HB437 by Rep. Collins: To authorize common carriers to make delivery of alcoholic beverages to Alabama residents, and to provide for direct wine shipper permits. 

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HB538 by Rep. Baker: To revise the timeframe to apply to vote by absentee ballot and revise certain procedures relating to the processing of absentee ballots. 

SB9 by Sen. Elliott: To provide that the total amount allocated to a local board of education includes an allowance for student growth. 

SB31 by Sen. Roberts: To provide that the date for runoff elections to be four weeks after the regular election for all runoff municipal elections and runoff special primary elections. 

SB43 by Sen. Price: To require the state Emergency Management Agency to adopt guidelines for individuals and entities throughout the state to volunteer to have property designated as safer place facilities during severe weather events. 

SB65 by Sen. Sessions: To provide an alternative procedure for the dissolution of a public park and recreation beach board under certain conditions and for the transfer of the property of the board to the municipality where the public park is located upon approval of both the county and the municipality. 

SB111 by Sen. Butler: To allow the sale of land for taxes to occur on the premises of or within the courthouse or courthouse annex of the county. 

SB119 by Sen. Waggoner: To revise the municipal election dates in certain municipalities beginning in 2025. 

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SB126 by Sen. Waggoner: To provide for a delivery service license issued by the Alcoholic Beverage Control Board that would allow the licensee to deliver sealed beer and wine from certain licensed retail establishments directly to individuals in Alabama who are at least 21 years of age for their personal use. 

SB169 by Sen. Figures: To provide for an increase in the number of executive level employees which the director of the Alabama State Port Authority is entitled to appoint and to provide that the commercial terms of certain contracts entered into by the Port Authority are exempt from certain state laws limiting confidentiality. 

HB103 by Rep. Kiel: To provide that during a state of emergency involving a pandemic, epidemic, bioterrorism event, or the appearance of a novel or previously controlled or eradication infectious disease or biological toxin, any business or religious institution may continue or resume operations if they comply with any applicable emergency order, rule or regulation. 

SB97 by Sen. Whatley: To provide that an executive declared state of emergency terminates after 14 days and may be extended only by joint resolution of the Legislature or, if the Legislature is not in Session, by joint proclamation of the President Pro Tempore of the Senate and the Speaker of the House. 

SB140 by Sen. Melson: To specify the responsibilities and duties of owners, operators, occupants, and creditors of a self-storage facility in the event of default of a rental agreement. 

SB332 by Sen. Hatcher: To amend existing law to update a reference to the federal motor carrier safety regulations relating to entry level driver training requirements. 

SB264 by Sen. Chesteen: To provide that existing law prohibiting the capturing or killing of animals during nighttime hours would not apply to feral swine or coyotes hunted on privately owned or leased lands. 

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SB308 by Sen. Price: To establish the Alabama Uniform Concealed Carry Permit Act to standardize the process by which concealed carry permits may be issued, and create a state firearms prohibited person database.

Significant committee action this week

HB238 by Rep. Shaver: To provide that if a person is convicted of boating or driving under the influence, the person’s boating and driver’s licenses will be suspended; to require a person to operate a vessel at idle speeds under certain conditions; to provide boater safety certification requirements (Public hearing but no vote in House Judiciary Committee). 

HB548 by Rep. Pringle: To remove the requirement that the chief legal counsel and assistant legal counsel of the Department of Examiners of Public Accounts be deputy attorneys general (Amended in House State Government Committee). 

HB560 by Rep. Isbell: To allow any retailer licensed to sell alcoholic beverages for off-premises consumption to use a drive-through or walk-up window for the purchase of beer and wine, and require the Alcoholic Beverage Control Board to adopt rules (House Economic Development and Tourism Committee). 

SB11 by Sen. Givhan: To exempt airport authorities from paying sales and use taxes, and to include airport authorities in the list of governmental entities that may be issued an annual certificate of exemption (House Ways and Means Education Committee). 

SB70 by Sen. Livingston: To provide the same limited and sovereign immunity, and ability to participate in the Educators Liability Trust Fund, to the Board of Trustees of the Alabama School of Cyber Technology and Engineering and the administrative staff, teachers, and employees of the school (House Ways and Means Education Committee). 

SB158 by Sen. Smitherman: To create a Law Enforcement Officer Employment Database, and require law enforcement agencies to report certain complaints, disciplinary actions, and background information (Substituted in House Judiciary Committee). 

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SB204 by Sen. Williams: To provide further for qualifications of members appointed to the Alabama Professional Bail Bonding Board, to authorize the issuing of apprentice licenses, and require the successful completion of certain education before regular licensure (Amended in House Boards, Agencies and Commissions Committee). 

SB298 by Sen. Orr: To clarify that any grants awarded by the Alabama Innovation Act to a research entity must be the result of a partnership with a private sector applicant, and to authorize the Alabama Department of Economic and Community Affairs (ADECA) to establish a competitive scoring system to award grants (House Ways and Means Education Committee). 

HB167 by Rep. Blackshear: To prohibit an Alabama voter from voting or attempting to vote in this state and also in another state (Amended in Senate Fiscal Responsibility and Economic Development Committee). 

HB246 by Rep. Gray: To authorize local boards of education to offer yoga to students in grades K-12 (Public hearing and carried over in Senate Judiciary Committee). 

HB391 by Rep. Stadthagen: To provide that public K-12 schools may not participate in, sponsor, or provide coaching staff for interscholastic athletic events at which athletes are allowed to participate in competition against athletes who are of a different biological gender (Amended in Senate Education Policy Committee). 

HB458 by Rep. Crawford: To provide that existing law prohibiting the capturing or killing of animals during nighttime hours would not apply to feral swine or coyotes hunted on privately owned or leased lands (Amended in House Agriculture, Conservation and Forestry Committee). 

SB165 by Sen. Orr: To provide for the rights of citizens to access public records, establish procedures for making and responding to requests for access, and establish administrative and judicial remedies (Amended in Senate Judiciary Committee). 

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SB334 by Sen. Whatley: To allow any retailer licensed to sell alcoholic beverages for off-premises consumption to use a drive-through or walk-up window for the purchase of beer and wine, and require the Alcoholic Beverage Control Board to adopt rules (Senate Judiciary Committee). 

SB345 by Sen. Singleton: To establish the Pilot Program for Small Business Development under the Board of Pardons and Paroles (Senate Finance and Taxation General Fund Committee.). 

Significant introductions this week

HB575 by Rep. Holmes: To prohibit a candidate or poll watcher from assisting an individual with voting and to make municipal election laws regarding assistance with voting consistent with non-municipal voting laws. 

HB576 by Rep. Whorton: To provide that Alabama would observe Daylight Savings Time year-round if an act of Congress amends the current prohibition in federal law. 

HB586 by Rep. C. Brown: To restrict the location of a mobile home park or recreational vehicle park or the sitting and installation of a mobile home, manufactured housing unit, or a manufactured building within a certain distance of Mobile Bay with exceptions. 

SB355 by Sen. Whatley: To increase the maximum compulsory K-12 school attendance age from 17 to 18 years and to raise the age at which a student may withdraw from public school from 18 to 19 years. 

SB374 by Sen. Williams: To substantially revise the law governing tax collection and the duties and powers thereof. 

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On the lighter side

The House State Government Committee gave a favorable report to a bill that would designate the sweet potato as the official state vegetable of Alabama. If enacted, the sweet potato will join the Monarch Butterfly (State Insect), the Pecan (State Nut), and the Alabama Red-Bellied Turtle (State Reptile), among others, as an official symbol of the State of Alabama (SB171 by Senator Garlan Gudger). 

Significant bills enacted

HB170 Rep. Garrett: To provide for an exclusion from Alabama individual income taxation for any federal tax credits, advance refunds, Small Business Administration subsidy payments, Emergency Injury Disaster Loans, student loan payments, or qualified disaster relief payments, and adjust certain business taxes; exempts $8.7 million in stimulus payments. 

HB192 Rep. Poole: To reestablish and expand the Alabama Jobs Act and the Growing Alabama Credit for attracting new and expanding businesses. 

HB231 Rep. Clouse: To make a supplemental appropriation of available federal funds from the Alabama Emergency Rental Assistance fund to the Department of Finance of an estimated $263,236,067 for the fiscal year ending September 30, 2021. 

SB30 Sen. Orr: To provide civil immunity for business entities, health care providers, educational entities, churches, governmental entities, and cultural institutions operating in this state, as well as individuals associated with these entities, from certain damages claimed by individuals who allege that they contracted or were exposed to Coronavirus during a declared state of emergency. 

SB76 Sen. Orr: To establish a procedure to authorize wireless providers to collocate, mount, or install small wireless facilities on existing poles, or install new poles on the right-of-way of the state or any agency, county, or municipality. 

HJR6 Rep. Clarke: To honor Mr. James K. Lyons for his contributions to the State of Alabama as Director and Chief Executive Officer of the Alabama State Port Authority.

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HJR5 Rep. Lee: To extend the existing sales and use tax exemption on parts, components, and systems used in the refurbishing of aircraft. 

SB80 Sen. Butler: To require a county or municipality within two miles of any portion of a military installation to give an affected military installation notice and an opportunity for review of any proposed tall structure or wind energy facility for potential impacts prior to approving the tall structure or wind energy facility. 

Budgets

HB309 Rep. Clouse: General Fund Budget Passed by House as substituted and amended, pending in Senate Finance and Taxation General Fund Committee.

SB189 Sen. Orr: Education Budget Passed by Senate as substituted and amended, pending in House Ways and Means Education Committee.

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Family of Portage nurse turns fence into collage of encouraging messages https://gnet.org/family-of-portage-nurse-turns-fence-into-collage-of-encouraging-messages/ https://gnet.org/family-of-portage-nurse-turns-fence-into-collage-of-encouraging-messages/#respond Wed, 07 Apr 2021 23:16:59 +0000 https://gnet.org/family-of-portage-nurse-turns-fence-into-collage-of-encouraging-messages/ PORTAGE, MI – Along Oakland Drive in Portage, the DePierre family have transformed their once simple fence into a collage of homemade signs bearing positive messages for all who see it. About two weeks after Gov. Gretchen Whitmer announced schools would be closed for the remainder of the year, Audrey and her husband, Kirk, were […]]]>

PORTAGE, MI – Along Oakland Drive in Portage, the DePierre family have transformed their once simple fence into a collage of homemade signs bearing positive messages for all who see it.

About two weeks after Gov. Gretchen Whitmer announced schools would be closed for the remainder of the year, Audrey and her husband, Kirk, were trying to adjust to what would be their new normal. Kirk decided to stay home with their children Kiah, 6, and Vierra, 5, while Audrey, who is a nurse, continued to work.

“They were fed up with staying inside,” said Audrey DePierre. “We all got discouraged and ended up sleeping on the couch and it was very overwhelming and sad with the unknown.”

Coming from an artistic background, the couple decided they needed to do something to boost the morale of the family.

Related: Homemade signs from Kalamazoo woman urge neighbors to ‘slow the spread’ of coronavirus

“I’m a very active person and needed to do something with my energy,” DePierre said. “Especially when it’s negative and when I saw how it affected my husband and my kids.”

As the DePierre’s were cleaning out their basement, the couple realized they had already stockpiled cardboard and paint, which sparked an idea.

The family got together and got to work. Kirk came up with clever sentences, Audrey created other positive messages, and Kiah and Vierra participated by painting backgrounds and their own artwork on the cardboard. Soon the DePierre family had an abundance of unique signs.

“I wanted to involve the kids in something positive that would make – at least us – feel better,” DePierre said. “Then we just hoped people would respond positively to it. “

The family fence is now almost covered in brightly painted panels. Some have cheerful designs of flowers. Another shows the increasingly familiar sketch of the COVID-19 virus, then a “less of” symbol, followed by a drawing of Earth.

Others feature encouraging messages such as ‘Don’t give up’, ‘One day at a time’ and ‘Positive vibes save lives’, while some family artwork emphasizes information. more informative, such as “Wash. Wash. Wash Wash, “and another urging passers-by to” Be smart. Stay 6 feet apart. “

Related: Kalamazoo mask makers spend their days sewing to protect others

Audrey is a nurse at the Bronson Methodist Hospital in downtown Kalamazoo, and worked in the COVID-19 unit there. With an immunocompromised child, she said she was filled with fear and uncertainty amid the COVID-19 pandemic.

“There was an overwhelming sense of grief and uncertainty, and just anxiety,” DePierre said. “I have a family and I want to protect my family, but I also have a duty as a nurse, and I would never leave anyone behind or not help, so it hit hard.”

Audrey is still grappling with what the future may hold for her, believing that if she spends more time working in the COVID-19 unit, she may have to live away from her family in her parents’ campervan. But the signs on the fence remain a positive daily reminder, to their families and to passers-by.

“At first we saw people stop and take pictures, which was reassuring that what we were doing had a positive response,” DePierre said. “People honk as they pass and it lifts us up. We just wanted to be uplifting and promote safety to try to help. “

Learn more about Michigan coronavirus coverage here.

PREVENTION TIPS

In addition to washing your hands regularly and not touching your face, authorities recommend practicing social distancing, assuming anyone can carry the virus.

Health officials say you should stay at least 6 feet from others and work from home, if possible.

Take hand sanitizer with you and use sanitizing wipes or sanitizing spray cleaners on frequently touched surfaces in your home (doorknobs, faucets, countertops) and when going to places like stores.

Additional information is available at Michigan.gov/Coronavirus and CDC.gov/Coronavirus.

Also on MLive:

A timeline of the coronavirus in the Kalamazoo region

Over 100 Kalamazoo restaurants, breweries serving food during the coronavirus pandemic

Parents, we want to hear from you: How is social isolation going for your family?

Twins build twin snowmen, six feet apart, to promote social distancing

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United Steelworkers denounce Giti Tire, based in Chester, SC https://gnet.org/united-steelworkers-denounce-giti-tire-based-in-chester-sc/ https://gnet.org/united-steelworkers-denounce-giti-tire-based-in-chester-sc/#respond Wed, 07 Apr 2021 23:16:58 +0000 https://gnet.org/united-steelworkers-denounce-giti-tire-based-in-chester-sc/ Giti Tire arrived in Chester in 2017, marking its first North American factory. Tracy kimball tkimball@heraldonline.com CHESTER, SC Giti Tire in Chester embezzled federal funds and betrayed residents of Chester County, the United Steelworkers allege in a recent press release. The allegations The company received around $ 10 million in federal pandemic programs aimed at […]]]>

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Giti Tire arrived in Chester in 2017, marking its first North American factory.

tkimball@heraldonline.com

Giti Tire in Chester embezzled federal funds and betrayed residents of Chester County, the United Steelworkers allege in a recent press release.

The allegations

The company received around $ 10 million in federal pandemic programs aimed at small businesses – despite being a global conglomerate – and then failed to keep its workforce as promised, the company said. union, citing data in an Americans for Financial Reform report.

Americans for Financial Reform is a nonprofit group that focuses on financial reform in the United States.

Giti’s website says the company employs 33,000 workers worldwide.

The report says the company may have been considered a small business due to the size of the Chester plant, which employed around 700 people before the start of the pandemic.

“The company betrayed public trust long before COVID-19,” said Daniel Fillipo, a representative of the steelworkers union.

The union demands that “the company begin to honor its promises to the people of Chester County, South Carolina.” The United Steelworkers, or Steelworkers, is a union that represents workers in many industries, including rubber and tire manufacturing.

The Giti factory closed temporarily in April, but reopened in May.

Despite receiving funds from the Pandemic Protection Program, around 100 workers remain laid off, according to the press release.

“Giti promised he would use the PPP loans to keep 500 workers, but most of the workers at the plant lost their jobs for about a month and many still haven’t found their jobs 10 months after the initial shutdown. factory, ”the report says.

On Wednesday afternoon, Steelworkers representative Joe Smydo said Giti had not contacted the union and there were no updates at this time.

Giti moved to Chester in 2017 to praise South Carolina Gov. Henry McMaster, who said the factory would be a “game changer.”

Giti Tire officials told the Herald in 2017 that the plant would hire around 1,700 workers; Executive Chairman Enki Tan said it could reach 5,000.

Fillipo says that Giti “never came close to that number”.

The deal documents show that Chester County agreed to give Giti tax breaks in exchange for job creation. USW says Giti is reaping the benefits without fulfilling its commitments.

“It’s time for Giti to start acting responsibly,” Flippo said. “This means not only creating the jobs he promised, but also paying wages to support the family and give back to the community.”

Giti responds

David Shelton, director of industrial relations at Giti, made a statement to the Herald on Wednesday afternoon.

He argued that Giti was qualified to receive federal loans, which came from the Payroll Protection Program (or PPP).

“From the biggest airlines to the smallest cafes, the global pandemic has had a huge impact on businesses of all sizes. Giti Tire fully qualified for PPP support. And these funds allowed us to bring our employees back from May 2020, much sooner than it would have been possible without the P3 money, ”Shelton said.

He said all employees on leave have been offered a job to return to work by August 2020.

“Many of these employees have joined us; some employees have voluntarily refused, ”he said.

“We are disappointed to see outside third-party organizations making inaccurate claims at this time of national crisis,” he said. “Giti Tire received economic development incentives to locate our first North American manufacturing facility in South Carolina. Our investment of $ 560 million has generated more than 500 jobs currently, and with the goal of meeting job creation requirements by 2024. ”

Tobie Nell Perkins works for the Herald in partnership with Report For America. It covers Chester County, Catawba Indian Nation and General Missions. Tobie is a graduate of the University of Florida and has won a Regional Murrow Award as well as awards from the Society of Professional Journalists and the Florida Society of News Editors.

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Analysis: Even if it decreases, the BOJ invents a new weapon to stimulate growth https://gnet.org/analysis-even-if-it-decreases-the-boj-invents-a-new-weapon-to-stimulate-growth/ https://gnet.org/analysis-even-if-it-decreases-the-boj-invents-a-new-weapon-to-stimulate-growth/#respond Wed, 07 Apr 2021 23:16:56 +0000 https://gnet.org/analysis-even-if-it-decreases-the-boj-invents-a-new-weapon-to-stimulate-growth/ By Leika Kihara TOKYO (Reuters) – A largely overlooked program created by the Bank of Japan to ease the drawbacks of its massive stimulus package could become the central bank’s new weapon to boost the economy, people close to its thinking have said. The main takeaways from a policy review last month were measures to […]]]>

By Leika Kihara

TOKYO (Reuters) – A largely overlooked program created by the Bank of Japan to ease the drawbacks of its massive stimulus package could become the central bank’s new weapon to boost the economy, people close to its thinking have said.

The main takeaways from a policy review last month were measures to tiptoe away from a sweeping monetary experiment that sought, but failed, to trigger inflation in the decades of massive money printing.

Less attention has been drawn to the creation of a new “interest system to promote loans“, a highly technical program to compensate banks for the blow of negative interest rates.

By offsetting negative rate charges, the program will pay banks variable rates for withdrawing money from the BOJ, depending on the purpose of the loans they make.

The main objective was to convince the markets that with tools available to deal with side effects, the BOJ can take rates deeper into negative territory to combat economic shocks.

But the program also gives the BOJ discretion over which areas to divert money to, making it a potentially useful tool to help initiatives like green investing, according to four sources close to its thinking.

The move highlights just how close the BOJ, which finds itself with a dearth of monetary tools, is moving closer to fiscal policy to spur growth in an economy hit by the COVID-19 pandemic.

“This program has the potential to become the new tool of the BOJ,” said one of the sources. “It can be used to induce or promote loans for certain areas of growth. “

Although the BOJ does not plan to roll out such new targeted loans anytime soon, it is an idea being considered as a future possibility, according to the sources.

“The BOJ can choose opportune themes like green and pay higher interest to lenders,” said another source.

The plan also highlights how the BOJ’s policy aims to align with government goals, even though Prime Minister Yoshihide Suga’s administration does not directly guide the central bank.

Nodding his head to Suga’s political priorities, Vice Governor Masazumi Wakatabe said the BOJ must “examine and discuss” ways to promote a green and digitized Japan.

“With this program, the BOJ probably wanted to appeal to the government to do its part to support the economy,” said former BOJ board member Takahide Kiuchi.

(Click here https://tmsnrt.rs/3a3ju1N and here https://tmsnrt.rs/3wEmknB for interactive charts on total central bank loans and the country’s basic consumer prices) liquidity, https://graphics.reuters.com/JAPAN-ECONOMY/BOJ/yxmvjwzropr/chart.png) (Chart: Inflation remains far from the BOJ’s 2% target, https: // graphics. reuters.com/JAPAN- ECONOMY / BOJ / xlbvgxqbxpq / chart.png)

BETTER THAN NOTHING?

The European Central Bank also pays banks to dip into its coffers to cushion the blow from negative rates. What makes the BOJ program unique is the three tier structure where loans rated as “high priority” receive higher interest. If the BOJ worsens the negative rates, the interest rate increases at the same time.

It was an idea the BOJ had been studying internally for years amid criticism of its negative rate policy, sources say.

The BOJ now uses the program only for relief from COVID-19. But it can add new types of loans even before negative rates get worse.

The tool can enable the BOJ to more effectively inject money into areas that need it and respond to future government pressures for stronger action to protect the economy.

By approaching the area of ​​fiscal policy, however, the BOJ risks undermining its independence from political interference.

Markets also suspect that the program would make it easier for the BOJ to cut rates or help it meet its elusive inflation target.

“It’s better than nothing, but not enough to boost lending,” said Satoru Kado, analyst at Mitsubishi UFJ Research and Consulting.

“Bank profits won’t improve unless short-term rates rise further. This is something the BOJ has not addressed and likely will not be able to do for the foreseeable future. “

(Reporting by Leika Kihara; Editing by Kim Coghill)

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AP English Course: How To Choose | College Admission Manual https://gnet.org/ap-english-course-how-to-choose-college-admission-manual/ https://gnet.org/ap-english-course-how-to-choose-college-admission-manual/#respond Wed, 07 Apr 2021 23:16:54 +0000 https://gnet.org/ap-english-course-how-to-choose-college-admission-manual/ At first glance, AP English Language and Composition and AP English Literature and Composition seem closely related. After all, both are designed to mirror college-level English classes and contain the common word ‘composition’. RELATED CONTENT However, for high school students who have a passion for English, it is essential to choose carefully between these two […]]]>

At first glance, AP English Language and Composition and AP English Literature and Composition seem closely related. After all, both are designed to mirror college-level English classes and contain the common word ‘composition’.

RELATED CONTENT

However, for high school students who have a passion for English, it is essential to choose carefully between these two Advanced Placement course options.

Similarities of English Language and English Literature AP

Both classes assume native or near-native fluency in the English language. In AP English Language and AP English Literature, you will be asked to read a variety of sophisticated texts and write articulate analytical essays about them. The importance of finely honed reading and writing skills cannot be overemphasized for either course.

In addition, the format of the two end-of-year AP exams is surprisingly similar, with the first section consisting of multiple-choice questions based on passages that are worth 45% of the total score. Of the two exams, the second section consists of three open-ended prompts that represent the remaining 55% of the total mark.

It should be noted that although AP English courses are quite popular, they have relatively low pass rates compared to most other AP exams – pass meaning a score of 3 or better, below which colleges generally do not grant credit. In 2020, the score rate of 3 or higher was 62.1% for AP English Language and 60.1% for AP English Literature. Only 12.6% and 9.3% of applicants, respectively, received a 5, the highest possible score.

With these statistics in mind, students of either course should plan to devote a significant amount of time to study.

Differences between English language and English literature AP

Perhaps the biggest difference between the two AP English courses is the nature of the reading material. English Literature students cover several canonical literary works each year, including “The Odyssey”, “To Kill a Mockingbird” and “The Great Gatsby”.

Students of English, on the other hand, spend their time reading non-fiction works like memoirs, persuasive essays, and other types of texts.

Due to the different genres favored by each course, the writing assignments also differ. English literature prompts ask questions about literary devices used in works – such as symbolism and tone – while English language prompts ask students to explore rhetorical devices that aid the author or student. to formulate his argument.

Student Profiles That Match AP English Literature

Avid readers. Although both AP English courses place a heavy reading load on students, English literature can overtake the English language in this regard. Therefore, students who are passionate about reading should consider taking AP English Literature, as it may require them to devour around 100 pages per week.

Prospective majors in human sciences. Students planning to pursue a major in a humanities-based field such as philosophy, history or literature would particularly benefit from AP English Literature. This course can give these students a sense of familiarity with several readings that they are bound to encounter again in their study program, such as plays by William Shakespeare.

Student profiles that align with AP English Language

Future speakers. Since the English curriculum focuses on rhetoric, students in this course can begin to build a repertoire of effective speaking and writing skills that will be of use to them in their future career fields. Students who aspire to work in law or politics, for example, can prepare for college through the rigorous rhetorical exercises offered by AP English Language.

Undecided students. AP English Language is more universal in that its curriculum covers more areas. For example, you can transfer the skills you learned by analyzing persuasive essays in this course to all the essays you read in college and beyond, whether they are about science or another topic. As such, it may be best to select the more general option of AP English Language if you are unsure about your future.

Both AP English courses are highly regarded and will make you a more skilled reader and writer. Ultimately, deciding between them depends on your personal interests and plans.

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Swampscott man charged with bank fraud | USAO-MA https://gnet.org/swampscott-man-charged-with-bank-fraud-usao-ma/ https://gnet.org/swampscott-man-charged-with-bank-fraud-usao-ma/#respond Wed, 07 Apr 2021 23:16:51 +0000 https://gnet.org/swampscott-man-charged-with-bank-fraud-usao-ma/ BOSTON – A man from Swampscott was arrested and charged today with bank fraud in a scheme to defraud an elderly victim and her bank by stealing the victim’s pension assets. Felix Gorovodsky, 29, has been indicted by a criminal complaint on one count of bank fraud. As alleged in the complaint, Gorovodsky previously served […]]]>

BOSTON – A man from Swampscott was arrested and charged today with bank fraud in a scheme to defraud an elderly victim and her bank by stealing the victim’s pension assets.

Felix Gorovodsky, 29, has been indicted by a criminal complaint on one count of bank fraud.

As alleged in the complaint, Gorovodsky previously served as a financial advisor and attorney, with fiduciary responsibilities, for the elderly victim. The elderly victim, however, terminated this counseling relationship and revoked the power of attorney in July 2019. About nine months after being informed that the victim had terminated the relationship, Gorovodsky accessed and liquidated the bank’s account. victim, transferring more than $ 250,000 from the victim’s retirement savings into his or her own bank account. Gorovodsky then used the stolen funds for personal expenses, including paying off more than $ 100,000 in federal student loans. To legitimize the transfer, Gorovodsky forged the victim’s signature on an alleged “gift letter” that he sent to the bank in an attempt to legitimize the fraudulent transfer.

The bank fraud charge carries a sentence of up to 30 years in prison, five years on probation and a fine of up to $ 1 million. Sentences are imposed by a judge in a federal district court based on US sentencing guidelines and other statutory factors.

US attorney Andrew E. Lelling and Joseph R. Bonavolonta, Special Agent in Charge of the Federal Bureau of Investigation, Boston Field Division made the announcement today. The Ministry of Education, Office of the Inspector General, provided invaluable assistance in the investigation. Assistant US attorney Ian Stearns of Lelling’s Securities, Financial & Cyber ​​Fraud unit is pursuing the case.

Details contained in the indictment documents are allegations. The defendant is presumed innocent unless and until his guilt has been proven beyond a reasonable doubt by a court.

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IMF Says Increasing Vaccine Spending Fastest Way To Consolidate Public Finances https://gnet.org/imf-says-increasing-vaccine-spending-fastest-way-to-consolidate-public-finances/ https://gnet.org/imf-says-increasing-vaccine-spending-fastest-way-to-consolidate-public-finances/#respond Wed, 07 Apr 2021 23:16:46 +0000 https://gnet.org/imf-says-increasing-vaccine-spending-fastest-way-to-consolidate-public-finances/ The COVID-19 pandemic will continue to inflate global public debt in 2021, but spending more money to speed up vaccinations is the fastest way to start normalizing public finances, the International Monetary Fund said on Wednesday. The IMF said in its 2021 Fiscal Monitor report that if faster global vaccinations brought the virus under control […]]]>

The COVID-19 pandemic will continue to inflate global public debt in 2021, but spending more money to speed up vaccinations is the fastest way to start normalizing public finances, the International Monetary Fund said on Wednesday.

The IMF said in its 2021 Fiscal Monitor report that if faster global vaccinations brought the virus under control earlier, more than $ 1,000 billion in additional global tax revenue could be collected through 2025 in advanced economies. If that same upward scenario in the Fund’s economic forecast materializes, global GDP output could increase by $ 9 trillion over the same period as companies reopen and hire faster, the IMF said.

“The vaccination will therefore be more than cost effective, offering excellent value for the public money invested in accelerating the production and global distribution of vaccines,” the IMF said in the report. The IMF and the World Bank, in their spring virtual meetings this week, urge member countries to maintain budget support to their economies and vulnerable citizens and businesses until the pandemic is firmly under control.

The Fund estimated that governments have deployed some $ 16 trillion in budget support related to the pandemic from the onset of the pandemic until March 17 of this year. This includes $ 10 trillion in additional spending and lost revenue, and $ 6 trillion in government loans, guarantees and capital injections for businesses. In 2021, the Fund predicts that budget deficits will decline slightly in most countries as pandemic-related support expires or ends, jobless claims decline, and incomes begin to recover as businesses continue to recover. reopen.

Average overall budget deficits reached 11.7% of GDP for advanced economies in 2020 – quadruple their share from 2.9% in 2019 – but they are expected to narrow to 10.4% in 2021, the IMF said. Emerging economy deficits will also narrow slightly in 2021 to 7.7% of GDP for emerging market economies and 4.9% for low income economies.

Average global public debt is expected to reach a record 99% of GDP in 2021 and stabilize at this level after increasing slightly from 97% in 2020. For advanced economies, debt will peak at 122.5% in 2021, up from 120 , 1% by 2020 The IMF has called for more targeted support for vulnerable households, including minorities, women and workers in low-paid jobs in the informal sectors in many economies. More targeted support for small businesses was also needed, he said.

But he said some advanced countries with high debt levels might need to start rebuilding fiscal cushions to prepare for future shocks. He said these countries should develop multi-year frameworks to increase income and streamline spending, prioritizing investments to tackle climate change and reduce economic inequalities. In a chapter of the Fiscal Monitor released last week, the IMF said advanced economies could use more progressive income taxes, inheritance and property taxes, and taxes on “excess” corporate profits to help to reduce the inequalities exposed by the COVID-19 pandemic.

(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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Program for the availability of credit for the most affected sectors (HASCAP): new financial support program for the most affected sectors | Blake, Cassels & Graydon LLP https://gnet.org/program-for-the-availability-of-credit-for-the-most-affected-sectors-hascap-new-financial-support-program-for-the-most-affected-sectors-blake-cassels-graydon-llp/ https://gnet.org/program-for-the-availability-of-credit-for-the-most-affected-sectors-hascap-new-financial-support-program-for-the-most-affected-sectors-blake-cassels-graydon-llp/#respond Wed, 07 Apr 2021 23:16:41 +0000 https://gnet.org/program-for-the-availability-of-credit-for-the-most-affected-sectors-hascap-new-financial-support-program-for-the-most-affected-sectors-blake-cassels-graydon-llp/ On January 26, 2021, the federal government announced the launch of the Highly Affected Sectors Credit Availability Program (HASCAP), a new program to provide secured loans at low interest rates between C $ 25,000 and C $ 1 million per entity. legal up to a maximum of C $ 6.25 million for legal entities related […]]]>

On January 26, 2021, the federal government announced the launch of the Highly Affected Sectors Credit Availability Program (HASCAP), a new program to provide secured loans at low interest rates between C $ 25,000 and C $ 1 million per entity. legal up to a maximum of C $ 6.25 million for legal entities related to Canadian businesses that have been severely affected by COVID-19, including those in the hospitality industry.

Although HASCAP was created to provide support to the travel, tourism, hospitality and arts and culture sectors in particular, it is not limited to certain sectors and is available to businesses in all sectors. that meet the HASCAP eligibility criteria.

HASCAP is now available to business owners at participating financial institutions. Interested companies should contact their primary lender for more information and to apply. Businesses cannot apply to more than one financial institution. The deadline for submitting HASCAP applications is June 30, 2021.

HASCAP DETAILS

  • Eligibility criteria: Eligibility will be determined by the financial institution to which the interested business is applying, based on eligibility criteria established by the Government of Canada, including that the business must be a Canadian business that was financially stable and viable and did not have an impaired loan as of March 1, 2020 (i.e. before COVID-19) and must be able to demonstrate loss of income of at least 50 percent for at least 3 months during the eight month period preceding the date of the HASCAP loan application.

  • Demonstration of financial stability and viability before the pandemic: To apply for a loan between CA $ 25,000 and CA $ 100,000, it is sufficient that the borrower (collectively with related entities, if applicable) meets the probability of default requirement (as described in section 6.8.7) of Chapter 6 – Credit Risk – Internal Ratings Based Approach of OSFI’s Guideline on Capital Adequacy Requirements) by March 1, 2020 (collectively with related entities, if applicable) must be demonstrated to have generated a minimum of CA $ 500,000 in gross income during the 12-month period ending on the date of the borrower’s most recent annual financial statements (collectively with related entities, if applicable) before March 1, 2020. To apply for a loan between CA $ 250,001 and CA $ 1,000,000, the borrower (collectively with related entities, if applicable) must meet the minimum debt service requirement. rage ratio of 1.10x (including HASCAP loan) from the summer most recent financial ats of the borrower (collectively with related entities, if applicable) before March 1, 2020 and of the borrower (collectively with related entities, if applicable)) must achieve the minimum S&P rating of CCC + before March 1, 2020.

  • Demonstrate sufficient loss of income: If the business concerned is eligible for the Canada Emergency Rent Grant (SCRU) and / or the Canada Emergency Wage Subsidy (CCWS) and is not already enrolled in these programs, it will need to apply to the applicable programs before the company can apply for the HASCAP. and proof of registration with ESRB or CEWS will help the company demonstrate sufficient loss of income for HASCAP purposes. If the interested company is not eligible for the ESRB or SSUC, he will be required to provide financial statements that reflect at least three months of monthly loss of income from one year to the next of at least 50 percent per month during the eight months preceding the request for ready. The three months of lost income do not need to be consecutive.

  • Equipment loan conditions: The loan is fully repayable without any discount. Additional loan terms include an interest rate of 4%, a repayment term of up to 10 years, and a deferral of principal payment of up to 12 months at the start of the loan. The Business Development Bank of Canada (BDC) will provide a guarantee for 100 percent of the value of the new term loan and no personal guarantee will be required.

  • Use of loan proceeds: Businesses can use the loan proceeds to continue or resume operations. This includes the monthly payments normally scheduled (i.e. balloon free) and principal and interest payments not yet due on the company’s existing debt, as well as lease, equipment or lease payments. supplier financing in the normal course of business. However, the loan proceeds cannot be used to refinance or repay existing commercial debt. In addition, the loan proceeds cannot be used for dividends unless the dividends are used as income for shareholders (up to a maximum of C $ 200,000 in distributions which are paid in lieu of salary. to shareholders and in accordance with historical practices).

IMPACT

Although eligibility for HASCAP is not limited to certain sectors, it has been designed with certain sectors in mind, including the hospitality sector, which has been particularly affected by COVID-19. Allowing HASCAP applicants to demonstrate loss of income for three non-consecutive months in the last eight months prior to the date of the HASCAP loan application takes into account the seasonality of hospitality businesses and offers applicants greater flexibility in establishing the required revenue loss. In addition, HASCAP takes into account the existence of hotel chains owned by related parties by anticipating that a maximum of CAD 6.25 million may be available for related legal entities.

There will ultimately still be some businesses affected by COVID-19 that will not be able to take advantage of HASCAP. In particular, businesses that started operating during the pandemic are unable to meet current criteria for lost revenue to qualify for HASCAP. Businesses that are not eligible for HASCAP may consider other federally funded programs, including the Regional Relief and Recovery Fund (RRRF) and the Business Credit Availability Program (BCAP). Additionally, as part of the 2021 Ontario Budget, the Ontario provincial government recently announced it will create a C $ 100 million Small Business Tourism and Hospitality Support Grant, providing eligible hospitality-related businesses that are not eligible for the Ontario Small Business Program. Support Grant (with at least a 20% drop in revenue and less than 100 employees) one-time payments of between C $ 10,000 and C $ 20,000 in 2021. The Ontario government also created the Ontario tourism revival, spending C $ 100 million to help “historically successful” businesses, including tourism operators and attractions, with reopening spending such as marketing and restructuring.

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SME empowerment series continues | Borneo Bulletin Online https://gnet.org/sme-empowerment-series-continues-borneo-bulletin-online/ https://gnet.org/sme-empowerment-series-continues-borneo-bulletin-online/#respond Wed, 07 Apr 2021 23:16:39 +0000 https://gnet.org/sme-empowerment-series-continues-borneo-bulletin-online/ Baiduri Bank, in collaboration with DARe (Darussalam Enterprise), organized a workshop for its “Baiduri SME Empowerment Series” at the iCentre auditorium of Anggerek Desa from March 22 to 24 to continue supporting the economic program of the countries aiming to diversify beyond the oil and gas sector. Since April 2019, workshops tailored to micro, small […]]]>

Baiduri Bank, in collaboration with DARe (Darussalam Enterprise), organized a workshop for its “Baiduri SME Empowerment Series” at the iCentre auditorium of Anggerek Desa from March 22 to 24 to continue supporting the economic program of the countries aiming to diversify beyond the oil and gas sector.

Since April 2019, workshops tailored to micro, small and medium enterprises (MSMEs) have been held, covering topics ranging from e-commerce to product marketing. The workshop titled “A Strategic Planning Development Workshop” was led by Dr Sophiana Chua binti Abdullah, who founded A Vision A Day Company and is also a Strategic Planning Consultant at EpiPeople Consultants. Its main objective is to assist public and private sector staff in developing their strategic planning.

About 20 local businesses participated in the interactive training workshop aimed at making them develop a strategic plan using strategic thinking and systems thinking. Participants learned how to use practical strategic planning development tools and techniques in their plans and discussed how to align high-level visions at all levels of their business. The workshop ended with a clinic to apply what they learned in a real scenario.

The partnership between Baiduri Bank and DARe aims to implement a series of professional training workshops designed to complement the existing training programs offered by DARe’s Industry Business Academy (IBA), offering a more comprehensive training program and more comprehensive to local entrepreneurs, enabling them to achieve greater success in their businesses.

Baiduri Bank CEO Ti Eng Hui said, “Our goal with the Baiduri SME Empowerment Series is to enable the growth of local SMEs, which we fully believe can be achieved by empowering them through education.

“This series of professional training workshops is designed to complement the existing training programs offered by DARe and will hopefully provide a more comprehensive and comprehensive training program for local entrepreneurs, and allow them to better prosper in their businesses. commercial. “

Baiduri Bank also offers a wide range of solutions for local SMEs to optimize their cash flow and finance their growth, including working capital financing, installment loans, home loans as well as commercial financing options.

Thanks to these financing solutions, local SMEs have access to short and medium term capital to finance their operations or develop their activity. Other products designed to serve small businesses include business credit cards, payroll processing, and other everyday banking services.

Dr Sophiana Chua binti Abdullah leads the workshop. PHOTO: BAIDURI BANK

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