financing

Home Improvement Financing Firm PowerPay Partners with FinMkt

PowerPay, a provider of home improvement financing, and FinMkt, a SaaS provider of point of sale consumer finance technology, have announced a new partnership. According to FinMkt, the agreement will enable it to expand its product offering to include staged funding, 10 and 15-year terms, and loan amounts up to $100,000.

FinMkt’s platform allows homeowners to complete one application with the ability to receive and review financing offers. By partnering with multiple lenders like PowerPay, FinMkt’s platform allows homeowners to qualify for financing.

Mike Petrakis, PowerPay’s CEO, said that FinMkt’s team and tech are the best in the industry:

“We are very excited to offer PowerPay’s advanced loan products for home improvement financing via the FinFi platform so that we may reach a broader range of borrowers.”

FinMkt states that COVID has accelerated the demand for home renovations and repairs. FinMkt has adapted its technology in response to changes in the marketplace to expand product offerings. FinMkt’s partnership with PowerPay is one of many enhancements FinMkt will be making to its home improvement financing platform.

Luan Cox, FinMkt’s CEO and co-founder, said:

“In order to stay competitive, you need to be able to offer you customers financing that requires minimal effort to apply and delivers real time results. We are proud to be teaming up with PowerPay to provide contractors with the technology to grow their business by offering their customers access to the best financing options available by filling out one, online application.”

 

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HJ Sims Secures $6.5 million Additional Debt Financing for Capital Improvements

FAIRFIELD, Conn., Sept. 30, 2020 /PRNewswire/ — HJ Sims (Sims), a privately held investment bank and wealth management firm founded in 1935, is pleased to announce the successful August 2020 transaction in the amount of $6.5 million additional debt financing for capital improvements for the Philadelphia Protestant Home (PPH). PPH operates a continuing care retirement community in northeast Philadelphia, featuring 266 independent living units, 175 personal-care units and 126-bed nursing facility.

hjsims.com
hjsims.com

PPH has been funding capital improvements from general fund revenues. To efficiently manage cash-flow, PPH elected to finance $6.5 million of upcoming capital improvements. Sims, as financial advisor, developed a financing plan that provided for the funding of the required capital improvements, while implementing a structure that maintained maximum flexibility to maintain their debt service at manageable levels.

Prior to engaging PPH’s existing banking partner, Citizens Bank (Citizens), Sims worked with the PPH Fiscal Oversight Committee to develop structuring options. Following engagement of Citizens, Sims led the effort in working with Citizens to finalize the debt structure, within the confines of the bank’s requirements. Due to impacts of COVID-19, Sims negotiated a modified Debt Service Coverage test to the benefit of PPH. The additional obligations were structured as parity debt with PPH’s outstanding Series 2015 obligations.

Citizens provided $6.5 million of senior debt financing, fully amortizing in ten-years, and a five-year interest-only period followed by monthly principal amortization. The obligations were structured with a five-year, PPH-owned par call provision, and were issued on a tax-exempt basis through the Philadelphia Authority for Industrial Development (PAID). This provision was paramount as PPH’s existing Series 2015 Obligations mature in seven years, while Citizens could only defer principal on the Series 2020 obligations for five years. This call feature will allow PPH to restructure future debt at minimal cost.

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Monument trustees approve $22 million financing plan to fund water system improvements | Thetribune

MONUMENT • The Monument Board of Trustees has authorized a major move to fund water improvement projects over the next three years.

At the board’s Sept. 21 meeting, they heard recommendations from town staff and special legal counsel regarding the potential for using the sale of revenue bonds to fund major improvements to its water system over the coming years.

However, instead of revenue bonds, it was recommended Monument create an ordinance to enter a site lease agreement and lease purchase agreement to market Certificates of Participation (COPs) — an alternate form of financing.

Town attorney Andrew Richey presented the finer details of the agreement, with bond counsel provided by Nate Eckloff of Piper Sandler and Kimberly Crawford of Butler Snow Law Firm. Both counsels recommended the certificates to help maximize the town’s budgetary flexibility in financing the water projects.

Presently, the town has a 2A water fund and an enterprise water fund for its improvements. Formal revenue bonds would have the town fund improvements from just one fund, Richey said. Using Certificates of Participation is a way many municipalities, counties and school districts fund projects without having to raise taxes and is a financial structure approved by the Colorado Supreme Court, Richey said. The collateral for the agreement would be town-owned property, infrastructure and improvements.

With the agreement, Monument would lease its collateral property to BOK Financial in Denver, which would act as the financial trustee in exchange for an anticipated $22 million. BOK Financial then leases back the property to the town, and Monument pays “base rents” to pay off the $22 million over time, Richey said.

Richey said Certificates of Participation also carry added protection for the town since they involve leases over a particular term and not transfer of title. Monument would not lose title to

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Dwelling Improvement Financing Tips

Improving your home is usually a good factor, but it could actually additionally put a hurting on your wallet. Someone who noticed that there was a option to support the poor and susceptible whilst at the similar time educating them on methods to enhance their lot in life. Esther is typically pressured to come up with some pretty crackpot and not possible explanations to justify implausible circumstances.

At the time this article is written, there was rather a lot taking place with respect to funding federal highways. In keeping with Remodeling Magazine, home improvements that enhance a home’s “curb enchantment” will be the wisest technique to spend residence enchancment money. Because the design under details, the ranch’s exterior is further enhanced with the pair of bay home windows complete with mullions and a verdigris roof.

I additionally forgot to say that lots of that cash is invested in non job producing locations (like housing) which separately harm folks (we’ve hundreds of thousands of empty owned properties and thousands and thousands of homeless) or just stored in liquidity, to provide an example: I am a former coal miner and I’ve buddies in the business, not removed from the place I dwell there is a completely good mine site which nobody is working, it’s a reasonable profit web site but needs some starting capital however as a result of the returns can be barely less than what a non jobs investment is value no one does it and as a consequence we miss out on more than a hundred jobs, the identical thing happens all around the country.

I can see how there are individuals who look like Abe apologists (and I’m sorry if I do as nicely, again, I am not paid in any respect I swear!) who admire the way …

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