Minneapolis Loans – Himspairport http://himspairport.com/ Mon, 17 Jan 2022 15:10:23 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://himspairport.com/wp-content/uploads/2021/05/default.png Minneapolis Loans – Himspairport http://himspairport.com/ 32 32 Bridgewater Bancshares – Consensus indicates 19.4% upside potential https://himspairport.com/bridgewater-bancshares-consensus-indicates-19-4-upside-potential/ Mon, 17 Jan 2022 11:07:48 +0000 https://himspairport.com/bridgewater-bancshares-consensus-indicates-19-4-upside-potential/ Bridgewater Bancshares found using the ticker (BWB) now have 3 analysts covering the stock. Analyst consensus points to a buy rating. The target price ranges between 23 and 20 with an average TP of 21.33. Together with the stock’s previous close at 17.86, this now indicates that there is upside potential of 19.4%. The 50-day […]]]>

Bridgewater Bancshares found using the ticker (BWB) now have 3 analysts covering the stock. Analyst consensus points to a buy rating. The target price ranges between 23 and 20 with an average TP of 21.33. Together with the stock’s previous close at 17.86, this now indicates that there is upside potential of 19.4%. The 50-day moving average is at 17.92 and the 200-day moving average is now moving to 17. The company’s market capitalization is $509 million. Visit the company’s website at: https://www.bridgewaterbankmn.com

The potential market capitalization would be $608 million based on market consensus.

You can now share it on Stocktwits, just click on the logo below and add the ticker in the text to be seen.

Bridgewater Bancshares operates as a bank holding company for Bridgewater Bank which provides banking products and services to commercial real estate investors, small business entrepreneurs and high net worth individuals in the United States. It offers demand, savings and money market deposits, term, interest-bearing and interest-free, and traded deposits, as well as certificates of deposit. The Company also provides commercial loans to sole proprietorships, partnerships, corporations and other commercial enterprises to finance accounts receivable or inventory, fixed assets or for other business purposes; construction and land development loans; 1 to 4 family mortgages; multi-family loan products; owner-occupied and non-owner-occupied commercial real estate loans; and consumer and other loans. It operates through seven full-service offices located in Bloomington, Greenwood, Minneapolis, St. Louis Park, Orono and St. Paul, Minnesota. The company was founded in 2005 and is based in Saint Louis Park, Minnesota.

]]>
More than $200 million in federal funds going to Minnesota to replace lead water pipes https://himspairport.com/more-than-200-million-in-federal-funds-going-to-minnesota-to-replace-lead-water-pipes/ Sat, 15 Jan 2022 11:00:19 +0000 https://himspairport.com/more-than-200-million-in-federal-funds-going-to-minnesota-to-replace-lead-water-pipes/ Minnesota cities and local water utilities will accelerate the removal of underground lead water pipes this year with a tranche of $15 billion in funding over the next five years provided by a bipartisan infrastructure bill that Congress and President Joe Biden signed into law in November. Lead utility lines deliver water to up to […]]]>

Minnesota cities and local water utilities will accelerate the removal of underground lead water pipes this year with a tranche of $15 billion in funding over the next five years provided by a bipartisan infrastructure bill that Congress and President Joe Biden signed into law in November.

Lead utility lines deliver water to up to 10 million U.S. homes — about 7% of all residences served by community water services — putting the health of residents who consume it at risk.

Support for removing lead from drinking water has grown since 2014, when improperly treated water damaged city pipes and released lead into the Flint, Michigan water system.

Under the new federal program, Minnesota is set to receive $43 million a year for the next five years, Jeff Freeman, executive director of the state’s Public Facilities Authority, said last week. The authority administers grants and loans for Minnesota water projects.

The Minnesota Department of Health estimated in 2019 that there were 100,000 lead utility lines left in the state, carrying drinking water to Minnesotans who may not suspect their water might be contaminated with lead. . But the Natural Resources Defense Council said in July the health department’s estimate covered only part of the state, and the council’s 2021 survey estimated Minnesota had 260,000 lines of service. or more, giving the state the 10th highest number of lead pipes in the nation. .

MAKE A PLAN

St. Paul and 13 surrounding suburbs have up to 26,600 lead service lines on private properties and an additional 9,000 lines on public rights-of-way, the St. Paul Regional Water Department reported last week. It would cost about $223 million to replace all of these lines, plus an additional $15 million for street improvements.

The St. Paul Regional Board of Water Commissioners voted Tuesday to develop a plan to replace all lead water pipes within 10 years. These pipes would be replaced by copper or polyethylene pipes.

“This is a once-in-a-lifetime opportunity” to eliminate a serious health hazard, Commissioner Chris Tolbert said ahead of the vote.

Federal grants administered by state agencies could cover 10% of the area’s pipe replacement costs, said Dave Wagner, director of the water utility’s engineering division. He estimated the service would receive about $5 million a year in grants and $5 million a year in state-administered loans over the next five years for the project. Water tariffs would probably have to be increased to cover some of the costs.

IMPACT ON OWNERS

Replacing private lead water lines would cost the average homeowner in the St. Paul area about $6,000, said water utility general manager Pat Shea. Those homeowners will likely need to replace lead water pipes and fixtures, but Water Services Board members said they plan to use federal funds to help homeowners cope. at these costs.

The City of St. Paul already allows water customers to pay for lead pipe replacement costs through property taxes over 20 years, but only 5-10% of homeowners exercise this option.

State agencies will allow cities to decide how to spend federal funds on private grants, said Chad Kolstad, manager of the Department of Health’s clean water fund. But laws may need to be changed to allow subsidies.

However, removing lead pipes would increase home values, the health ministry reported. He cited a 2017 study that showed that money invested in lead risk reduction results in a return of $2.60 for every dollar spent.

The cost of replacing all lead service lines across the country could range from $28 billion to $47 billion, which puts the $15 billion approved so far well below that figure. But the infrastructure bill “provides unprecedented support for states … to get the process started,” the Brookings Institution reported.

THE THREAT, THE ADVANTAGE

According to the federal Centers for Disease Control and Prevention, lead can leach into water from pipes and there is no safe lead exposure level.

The state health department said children are most vulnerable to the health effects of lead exposure due to their brain development and behaviors. “For infants and children, exposure to lead can cause significant damage to the brain, nervous system, red blood cells and kidneys,” the department said.

Municipal water lines contribute significantly to lead in drinking water, but an even bigger factor is lead leaching from plumbing fixtures, which are generally controlled by homeowners.

The Department of Health estimated the cost of removing all lead plumbing pipes and fixtures in Minnesota would be $1.5 billion to $4.12 billion over 20 years. But he said the benefits of removing lead from water include “improved mental acuity and IQ of the population (resulting in increased productivity, income and taxes paid over the course of the life).” He projected the benefits range between $4.24 billion and $8.47 billion over 20 years. Thus, the money spent to reduce lead in drinking water should return at least twice the amount of the investment.

A LONG PROCESS

St. Paul’s water utility has been replacing lead pipes for over 25 years, but only about 400 pipes a year, and all of them in rights-of-way.

Most lead service lines in St. Paul were installed in homes built before 1927 and a small percentage of homes built between 1942 and 1947.

The Department of Health said most of Minnesota’s major service lines are located in the Twin Cities and Duluth. He cited reports estimating 49,000 such lines in Minneapolis and 5,000 in Duluth.

But Kolstad said several other towns in Minnesota have more than 1,000 lead service lines.

He said low-income and minority communities would be prioritized for funding because their residents are more likely to be exposed to lead sources.

]]>
Support all new residential projects https://himspairport.com/support-all-new-residential-projects/ Wed, 12 Jan 2022 00:52:25 +0000 https://himspairport.com/support-all-new-residential-projects/ January 11 — People are always interested in new developments coming to the area. Announcements of new restaurants or stores always generate excitement for the new option and also spark a list of other brands they want to see come to the Mankato area, be it an IHOP or Trader Joe’s. Social media users seem […]]]>

January 11 — People are always interested in new developments coming to the area.

Announcements of new restaurants or stores always generate excitement for the new option and also spark a list of other brands they want to see come to the Mankato area, be it an IHOP or Trader Joe’s.

Social media users seem to be particularly excited for new apartments that have been built or are under construction.

Inevitably, the main comments are similar: why are they building market-priced apartments or luxury apartments when we need more affordable housing? Why isn’t the city pushing for more affordable housing first?

For starters, everyone wants to see more affordable housing, including city officials, employers and residents.

But there are a limited number of things local governments can do to increase the supply of affordable housing.

And some in the public seem to forget that it is private companies and the free market that bring new developments, not the government.

Construction costs, especially over the past two years, have skyrocketed. Those who take the financial risk of investing in new construction or large renovation projects can only do so if they see a rate of return that will cover the costs of repaying their loans and make some profit.

Increasingly, this means that private developers can rarely find ways to make rentals more profitable at lower cost.

Affordable housing developments are generally only financially feasible if federal low-income housing tax credits are part of the package. Developers who qualify and commit to keeping rents a certain lower level use tax credits to make a project feasible.

But with a shortage of affordable housing virtually everywhere, the demand for tax credits is astronomical, and the amount of federal funding for tax credits is far below demand.

The recent US bailout, which injected $ 1.9 trillion into the economy, will provide temporary relief. The city of Mankato plans to use about $ 900,000 of the $ 10 million in rescue funds it has received to fund affordable housing projects.

There have long been calls to change federal policies to better stimulate the development of affordable housing, but for now, the limited amount of federal tax credits available is the main public tool to help more affordable rental projects. .

But the private market can certainly help. Mainly by simply building more housing – single family homes and apartments – in areas such as Mankato where the demand for housing is high.

The more new apartments at market price, the less demand and competition for existing properties. A Minneapolis Federal Reserve article a few years ago showed that cities that have added a lot of new apartments at market rates have seen rents drop on existing properties.

And even those “luxury” apartments that attract the wrath of many are a necessary part of the mix. For every luxury unit filled, there is a more modest house that someone can move into, often leaving their starting house available for sale or rent.

This is why the announcement of any new residential project, be it apartments, townhouses or single-family homes, must be applauded. The more there are, the lower the demand and the upward pressure on rents.

]]>
How Twin Cities’ New Chase Community Manager Can Strengthen Your Financial Journey https://himspairport.com/how-twin-cities-new-chase-community-manager-can-strengthen-your-financial-journey/ Tue, 11 Jan 2022 16:40:23 +0000 https://himspairport.com/how-twin-cities-new-chase-community-manager-can-strengthen-your-financial-journey/ Facebook Twitter LinkedIn Reddit E-mail To print Sponsored Content Have you ever worked with your local bank branch team, virtually or in person? From opening a bank account or line of credit to exploring options for mortgage financing and small business loans, Chase’s community manager at the Ventura Village branch at 1100 E Franklin Ave […]]]>






Sponsored Content

Have you ever worked with your local bank branch team, virtually or in person? From opening a bank account or line of credit to exploring options for mortgage financing and small business loans, Chase’s community manager at the Ventura Village branch at 1100 E Franklin Ave , listens to the financial wellness needs of the community and is ready to help you reach your next Milestone.

Tessa Eddy – one of over 150 community managers we hire across the country – has joined our team specifically to work in Twin Cities communities to increase awareness and access to resources, tools financial health and services. Community Managers are often from local neighborhoods who understand the challenges your community faces and are committed to helping you build a strong financial future at every stage of your financial journey. With the help of local nonprofit partners who are invested in driving change for Black communities in the Twin Cities, we’re bringing more allies to your local bank branch who share Chase’s goal of giving you ways to improve and achieve financial health.

Tessa Eddy, Community Manager, JP Morgan Chase

We sat down with Tessa to discuss plans to help Black communities in the Twin Cities grow, what changes the new branch is expected to bring, and how you can work with her to chart your path and achieve your financial goals. .

How does your job differ from other branch managers at Chase Bank?

TESSA: My role was designed specifically to meet the unique financial wellness needs of our city’s Black community. We want to move from community banking to community development and to do so, we are actively working to reverse systemic inequalities in the financial system, eliminate economic barriers and support the success of our customers and our community.

We plan to start by giving you access to financial health resources, tools, and allies to help you reach your financial goals. Think of a community manager as a neighbor who understands intentional relationship building, the financial needs of leaders, organizations and people in your communityand introduces you to the right person in the bank who can help you.

Meanwhile, a branch manager is a more traditional role created to help you with day-to-day banking needssuch as opening a bank account or offering advice on home ownership and small business growth.

How do you hope to financially empower the black community in Minneapolis?

PITCH: I want to engage with the community to understand what the financial health needs are. We are here to empower Black community members and businesses with tools to build generational wealth and lasting legacies. Awareness and accessibility are key, and we see the local branch as an ideal place to start fostering vital community connections and touchpoints to help our customers achieve their financial goals.

As a Community Manager, my job is to connect with individuals, families, and business owners here in Minneapolis, and to increase awareness and use of available resources. My team and I will help you and others in your neighborhood take advantage of financial health tools, products and services, while aiming to improve general financial knowledge through unique and free interactive programs, such as:

As we are just getting started, I hope to make a real difference in the lives of families, individuals, homeowners and business owners in our community.

What financial opportunities are you going to make available to black communities here in the Twin Cities?

PITCH: We want to promote financial health, home ownership, and Black-owned businesses.

One of our priorities will be to help individuals in our community open a checking account for the first time, as it is key to financial stability and critical to closing gaps in access to banking services. To do this, we’ll run through our low-cost, no-overdraft checking accounts like Chase Secure Banking, which can offer security for those who might be new to banking or have had trouble getting or keeping a bank account. in the past .

My team is also responsible for promoting the growth of black-owned small businesseswhich means that we will help local entrepreneurs to obtain loans. We have also recruited mortgage counselors who are focused on helping more of the community obtain the funds needed for affordable and sustainable home ownership.

This is an important role within the branch, as the Twin Cities have the highest racial housing disparity gap in the nation. To help close this gap as well, we’re proud to team up with several local nonprofits that are helping to lead homeownership change in the Twin Cities.

You mentioned that another focus of the Community Impact Branch is “community building”. What does this mean and how will you do this in the Twin Cities?

PITCH: For me, community building means engaging with the community to listen and understand their needs, and then being able to provide resources and act on those needs. A big priority for us is to work with nonprofits and grassroots organizations that understand and are invested in driving change.

Stop by to learn more about the resources available. My team and I look forward to meeting you.

JPMorgan Chase Sponsored Content

]]>
For Young Adults, Credit Building Begins Now https://himspairport.com/for-young-adults-credit-building-begins-now/ Sat, 08 Jan 2022 14:03:37 +0000 https://himspairport.com/for-young-adults-credit-building-begins-now/ Sooner than you think, your credit score will start to count. A good credit score can be the difference between qualifying for or missing out on a low-interest apartment or car loan. So, to get your credit ready when you need it, now is the time to start building a good, long credit history. There […]]]>

Sooner than you think, your credit score will start to count.

A good credit score can be the difference between qualifying for or missing out on a low-interest apartment or car loan. So, to get your credit ready when you need it, now is the time to start building a good, long credit history.

There are many ways to create credit, and it can be as simple as reporting your current bill payments to the major credit bureaus. But keep in mind: building credit takes diligence, especially since missing payments can hurt your score for years to come.

Your credit score is a number that typically ranges from 300 to 850 and is calculated based on how reliably you have paid off your past debts, such as credit card bills. Lenders use your credit score to predict the likelihood of you paying off your debt and to decide how much interest to charge you.

Credit cards can be a great tool for building credit, but they can also hurt your score if you take on more debt than you can handle.

If a parent or other trusted person in your life has a high credit limit and a long history of timely payments, you could become an authorized user on their account and benefit from their good credit. It’s one of the easiest ways to lengthen your credit history, says Blaine Thiederman, a certified financial planner in Arvada, Colo.

If you have your own income, you can apply for a credit card at the age of 18; otherwise, you have to wait until you are 21.

A secured credit card is usually the best credit card to start with. A cash deposit secures these cards, and because the credit card company may accept this deposit if you miss payments, people with short or poor credit histories may be eligible.

Making regular loan payments can also help build your credit. And even if you don’t have a credit history, some loans are available.

Loans to credit builders rely on income rather than credit for approval. If you are approved, the loan is in a bank account and becomes available after you have paid it off. Your monthly payments are reported to the major credit bureaus.

Student loans are another loan that you can use to build your credit when you are starting out. Federal student loans do not require credit to qualify, unlike most private student loans. Paying off your loans will help broaden your credit history, and you can get started while you’re still in school by making interest-only payments.

Beresford writes for NerdWallet.


Source link

]]>
Land donated by single farmer creates boon for Willmar Church https://himspairport.com/land-donated-by-single-farmer-creates-boon-for-willmar-church/ Fri, 07 Jan 2022 22:04:34 +0000 https://himspairport.com/land-donated-by-single-farmer-creates-boon-for-willmar-church/ Calvary Lutheran in Willmar was stunned when land bequeathed to the church by a single farmer generated $ 4.5 million in windfall. The staggering auction sum of around 400 acres of farmland looked like a gift from above. “It’s transformative,” longtime Calvary pastor Dean Johnson said days after the late December auction. “It puts a […]]]>

Calvary Lutheran in Willmar was stunned when land bequeathed to the church by a single farmer generated $ 4.5 million in windfall.

The staggering auction sum of around 400 acres of farmland looked like a gift from above.

“It’s transformative,” longtime Calvary pastor Dean Johnson said days after the late December auction. “It puts a little zest in our approach.”

Whether it’s a miracle or market forces at work, the sale reflects the value of farmland which continues to rise near or above historical levels. With high crop prices and low interest rates, farmland is proving an irresistible attraction to buyers who see it as a safe investment in times of inflation.

“It’s a classic economic response: Farmland is attractive but scarce,” said Megan Roberts, who teaches farm business management at the University of Minnesota Extension. “People are looking for farmland right now and there isn’t much to be done and it’s driving up the prices.”

This is great news for vendors like Calvary Lutheran, where the church board agreed at the end of December auction to accept a minimum average of $ 8,500 per cultivable acre for the grain farm. which longtime member Jerry Anderson donated upon his death in 2014.

Then came the auction where over 40 active bidders cranked that up to an average of over $ 11,000 an acre.

“The amount of interest was just amazing,” said Kristine Fladeboe Duininck, co-owner of the auction company, Fladeboe Land, which handled the sale. “We could barely keep up.”

Although they are a strong signal of the overall health of the agricultural economy, high and rising farmland prices, coupled with growing investor interest, are an increasingly insurmountable hurdle for young emerging farmers. who would like to own their own land but cannot afford it – or even raise the capital to qualify for loans.

“I receive emails from people who are not farmers but who have purchased land and wish to rent it out to our farmers,” said KaZoua Berry, Marine on Big River Farms program manager based in Sainte-Croix, which provides access to land. people of color, immigrants and others who have traditionally struggled to get into farming. “There’s a lot of privilege in there – and it rubs me the wrong way,” she said.

Berry and her husband grow vegetables on rented land. They would like to buy a farm but haven’t figured out how to make it work financially, she said. “With the prices as they are, we were forced to reconsider how we could ever do it,” she said.

No one knows exactly how high the prices of farmland could go. Prices per acre, which hit $ 9,000 last summer, recently increased from $ 11,000 to $ 12,000. This exceeds the prices observed during the period of sustained high prices in 2013-14.

Another likely factor is the large amount of public support distributed to farmers in recent years. So is technological progress, from the best seeds to precision farming practices.

“What you can produce on an acre of land is so much bigger than before,” said Joe Mahon, agricultural economist for the Federal Reserve in Minneapolis.

Mahon and Roberts, the extension professor, said it was difficult to say if the current trajectory is sustainable or if we are in an agricultural bubble. “Usually you don’t know if you’re in a bubble until it bursts,” Roberts said.

Meanwhile, community institutions see an opportunity in the kind of agricultural fortune that befell Calvary Lutheran.

“By donating your farm to the University of Minnesota Foundation, you can create a lasting charitable legacy for future generations while achieving some of your planning goals,” read a brochure from the foundation.

Ben Webster, the foundation’s senior manager of planned giving, said the foundation recently finalized a deal with a retired dentist who is donating a 109-acre farm in Freeborn County. The dentist does this under an arrangement known as a “retained life estate,” in which the donors retain control of the land until their death, but receive a large income tax deduction for the donation. Meanwhile.

Dave Flor, who spent his career as a dentist in several communities in southern Minnesota, never cultivated the land he ceded. He started buying farmland in the 1980s as an investment and leased it to local farmers for decades. Once the U Foundation takes possession of it, it will sell the land with the proceeds intended for the School of Dentistry.

Flor said he bought the farm in the 1980s for $ 55,000 and recently it was valued at $ 980,000. “It’s almost embarrassing to say it out loud,” he said.

In Calvary Lutheran, Johnson – a former state Senate majority leader and chairman of the United States Board of Regents – said the church board had rejected two previous decisions to sell the Anderson farm before to finally vote to sell it at auction.

The current price of farmland was a big factor, Johnson said. Three buyers, a local farmer and two with investment interest, each bought part of the land. Anderson had stipulated that the proceeds were to be used for capital spending and not the general church fund, Johnson said, and the congregation has just embarked on a process to determine how to spend it.

“We can grow, we can reshape, we can improve,” Johnson said. “And it will all be in the name of Jerry Anderson, may God have his soul.”


Source link

]]>
Ares Capital Corporation Proposes $ 500 Million Public Offering of 2.875% Unsecured Bonds Due 2027 https://himspairport.com/ares-capital-corporation-proposes-500-million-public-offering-of-2-875-unsecured-bonds-due-2027/ Thu, 06 Jan 2022 22:15:00 +0000 https://himspairport.com/ares-capital-corporation-proposes-500-million-public-offering-of-2-875-unsecured-bonds-due-2027/ NEW YORK–(COMMERCIAL THREAD) – Ares Capital Corporation (Nasdaq: ARCC) has announced that it has priced a $ 500 million subscribed public offering with a total principal amount of 2.875% of bonds maturing in 2027. The bonds will expire on June 15, 2027 and may be redeemed in whole or in part at Ares Capital’s option […]]]>

NEW YORK–(COMMERCIAL THREAD) – Ares Capital Corporation (Nasdaq: ARCC) has announced that it has priced a $ 500 million subscribed public offering with a total principal amount of 2.875% of bonds maturing in 2027. The bonds will expire on June 15, 2027 and may be redeemed in whole or in part at Ares Capital’s option at any time at par plus a “make-whole” premium, if applicable.

BofA Securities, Inc., JP Morgan Securities LLC, SMBC Nikko Securities America, Inc., Wells Fargo Securities, LLC, Mizuho Securities USA LLC, MUFG Securities Americas Inc., RBC Capital Markets, LLC and Truist Securities, Inc. act as as co-bookkeepers for this offer. BNP Paribas Securities Corp., Capital One Securities, Inc., CIBC World Markets Corp., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., ICBC Standard Bank Plc, Natixis Securities Americas LLC, R. Seelaus & Co. , LLC, Regions Securities LLC and SG Americas Securities, LLC are acting as joint lead managers for this offering. Barclays Capital Inc., BNY Mellon Capital Markets, LLC, ING Financial Markets LLC, Morgan Stanley & Co. LLC, Santander Investment Securities Inc., Academy Securities, Inc., Citigroup Global Markets Inc., Comerica Securities, Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Keefe, Bruyette & Woods, Inc., Loop Capital Markets LLC, Samuel A. Ramirez & Company, Inc. and Siebert Williams Shank & Co., LLC act as co-managers for this offer. The offer is scheduled to close on January 13, 2022, subject to customary closing conditions.

Ares Capital expects to use the net proceeds of this offering to repay certain unpaid debts under its credit facilities. Ares Capital may re-borrow under its credit facilities for general corporate purposes, including by investing in holding companies in accordance with its investment objective.

Investors are urged to carefully consider the investment objective, risks, charges and expenses of Ares Capital before investing. The pricing terms sheet dated January 6, 2022, the preliminary prospectus supplement dated January 6, 2022 and the accompanying prospectus dated June 3, 2021, each of which has been filed with the Securities and Exchange Commission, contain this information. and others on Ares Capital and should be read carefully before investing.

The information contained in the pricing terms and conditions, the provisional prospectus supplement, the accompanying prospectus and this press release are not complete and are subject to change. The Pricing Terms Sheet, the preliminary prospectus supplement, the accompanying prospectus and this press release do not constitute offers to sell any securities of Ares Capital and do not solicit an offer to buy such securities in a territory where such an offer and sale is not permitted.

The offer may only be made by means of a preliminary prospectus supplement and accompanying prospectus. Copies of the preliminary prospectus supplement (and accompanying prospectus) can be obtained from BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, at Attention: Prospectus Department, or by calling 1-800-294-1322 or emailing dg.prospectus_requests@bofa.com; JP Morgan Securities LLC, 383 Madison Avenue, New York NY 10179, Attn: Investment Grade Syndicate Desk, 1-212-834-4533; SMBC Nikko Securities America, Inc. at 277 Park Avenue, New York, New York 10172, Attn: Debt Capital Markets, 1-888-868-6856; or Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, at 1-800-645-3751, or email wfscustomerservice@wellsfargo.com.

ABOUT ARES CAPITAL CORPORATION

Ares Capital is a leading specialty finance company focused on providing direct loans and other investments to private mid-market companies in the United States. Ares Capital’s goal is to find and invest in high quality borrowers who need capital to achieve their business goals, which often leads to economic growth and jobs. Ares Capital believes that its loans and other investments in these companies can generate attractive levels of current income and potential capital appreciation for investors. Ares Capital, through its investment manager, uses its extensive direct origination capabilities and relationships with legacy borrowers to primarily seek out and underwrite senior secured loans, but also subordinated debt securities and debt securities. equity investments. Ares Capital has elected to be regulated as a Business Development Company (“BDC”) and is the largest publicly traded BDC by market capitalization as of December 31, 2021. Ares Capital is managed externally by a subsidiary of Ares Management Corporation (NYSE: ARES), one of the world’s leading publicly traded alternative investment managers.

FORWARD-LOOKING STATEMENTS

Statements included in this document may constitute “forward-looking statements”, which relate to future events or to the future performance or financial condition of Ares Capital. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties, including the impact of the COVID-19 pandemic and related changes in interest rates from base and significant market volatility on the activities of Ares Capital, the Ares Capital portfolio companies. , Ares Capital’s industry and the global economy. Actual results and conditions may differ materially from forward-looking statements due to a number of factors, including those described from time to time in documents filed by Ares Capital with the Securities and Exchange Commission. Ares Capital does not undertake to update the forward-looking statements contained in this document.


Source link

]]>
$ 650,000 winning lottery ticket sold in Jackson, NJ https://himspairport.com/650000-winning-lottery-ticket-sold-in-jackson-nj/ Tue, 04 Jan 2022 17:19:09 +0000 https://himspairport.com/650000-winning-lottery-ticket-sold-in-jackson-nj/ OH MY GOD. the New Jersey Lottery Announced Big Winner in Our Area… and it’s not me. MDR. Whom, whom. But, it could be you. The winning ticket is worth $ 650,969. Wow. That’s a lot of money. This is a Jersey Cash 5 ticket from the Sunday January 2 draw, and the ticket matches […]]]>

OH MY GOD. the New Jersey Lottery Announced Big Winner in Our Area… and it’s not me. MDR. Whom, whom. But, it could be you.

The winning ticket is worth $ 650,969. Wow. That’s a lot of money. This is a Jersey Cash 5 ticket from the Sunday January 2 draw, and the ticket matches all five numbers.

the lucky ticket was sold to the Krauszer convenience store on Brewers Bridge Road in Jackson, NJ (Ocean County). The store receives a bonus of $ 2,000 for the sale of the ticket. Not bad. Did you play the lottery there? You’d better get your tickets out and check them right away.

I know we have a lot of PST listeners in the Jackson area. I wonder if someone from PST Nation is the big winner? I hope.

It secretly kills me. You may have heard me mention before that I play the lottery for my father every day. He loves it and doesn’t go out much due to the COVID-19 pandemic, so my sister and I have been appointed as replacements. MDR.

He doesn’t play all lottery games, but Jersey Cash 5 is one of his favorite games and he gets a ticket to the next draw daily. Why can’t we win a big jackpot? Why not us ??? MDR.

Ahhh, I have such amazing plans for such a big jackpot. It’s simple, I would buy a beach house. I would also help my family, donate to my favorite charities and of course have fun. I’ve always wanted to walk into a bar and scream, “Drink up on me.” MDR.

Ahhh, dreaming. Congratulations to the winner.

KEEP READING: Discover The Richest Person In Each State

WATCH: Here are 25 ways to start saving money today

These tips for saving money, whether it’s finding discounts or just changing your day-to-day habits, can come in handy whether you have a specific savings goal or want to save money. money set aside for retirement or just want to withdraw a few cents. It’s never too late to be more financially savvy. Read on to find out more about how you can start saving right now. [From: 25 ways you could be saving money today]


Source link

]]>
Minnesota nonprofits grapple with closures in the New Year https://himspairport.com/minnesota-nonprofits-grapple-with-closures-in-the-new-year/ Sat, 01 Jan 2022 22:43:33 +0000 https://himspairport.com/minnesota-nonprofits-grapple-with-closures-in-the-new-year/ After three decades of fundraising for drinking water and other environmental projects, the Minnesota Environmental Fund will close its doors for good this year. The same will be true of Community Shares of Minnesota, which has funded social justice initiatives since 1978. The two St. Paul nonprofits attribute their demise to the decline in workplace […]]]>

After three decades of fundraising for drinking water and other environmental projects, the Minnesota Environmental Fund will close its doors for good this year. The same will be true of Community Shares of Minnesota, which has funded social justice initiatives since 1978.

The two St. Paul nonprofits attribute their demise to the decline in workplace giving campaigns – a decline that only accelerated during the COVID-19 pandemic.

“I think if COVID hadn’t struck, we would still be here,” said Rylee Hince, who sits on the board of directors of the Minnesota Environmental Fund.

More than 300 Minnesota nonprofits have been dissolved since the outbreak of COVID in March 2020, either by shutting down or merging with other organizations, according to the state attorney general’s office. While this is not a significant change from the previous two years – unlike the catastrophic shutdowns some predict for nonprofits nationwide – nonprofits that have lost funds and employees during the pandemic are only now embarking on the long road to recovery.

The state’s nonprofit workforce has shrunk by 7% since the start of 2020, according to a new report of the Minnesota Council of Nonprofits. Nearly 30,000 nonprofit employees who worked before the pandemic have not returned. In the past six months alone, nearly a third of the 300 organizations surveyed by the council have cut budgets while 43% have cut programming.

Part of the decline in the nonprofit workforce is due to holidays and layoffs in 2020, which affected around a third of the sector and disproportionately affected women. But in the second half of 2021, nonprofits began to notice people choosing to leave in what has been dubbed the “Great Resignation.”

Candid, a national philanthropic research organization, to analyse the financial future of nonprofits in July 2020 and said that 3% to 30% of nonprofits across the country could shut down due to COVID. But even one or two closed nonprofits can have a ripple effect on the community, especially in rural Minnesota.

For example, after a mental health care provider closes, Lakes and Pines Community Action Council in Mora has nowhere to refer clients for assistance.

“We rely on our partnerships here because we can’t do it all,” said Bob Benes, executive director of Lakes and Pines, which provides housing assistance and other social services to 15,000 people a year in seven counties. . “It’s the ultimate team game here in rural Minnesota.”

The mental health care provider that shut down in the fall had struggled to fill jobs, Benes said, and lost money in the switch to telehealth because some clients don’t have online access for virtual tours. Now, some people will have to drive more than an hour to get mental health services.

“If a [nonprofit] farm in Minneapolis, there are probably three more that offer a similar service, ”Benes said. “If one closes in Kanabec County, guess what? It was that one. “

According to the Minnesota Council of Nonprofits’ December report, about 20% of nonprofits surveyed said they expected to experience financial hardship in the next six months or less – although that was less than non-profit organizations only last spring or in 2020.

One of the reasons why Minnesota nonprofits haven’t seen dire predictions happen during the pandemic is an influx of funding, ranging from federal loans clawed back into the Paycheck Protection Program to a increase in foundation grants. Donors also shelled out more money, setting a new record on Give to the Max Day in 2020, then breaking that record in November with donations of $ 34 million in statewide fundraising. .

“It’s been quite extraordinary. It’s really universal, the level of support,” said Kate Barr, president of Power non-profit organizations in Minneapolis, which helps nonprofit organizations with finances and loans.

After receiving questions from a handful of associations about closing options, Propel Nonprofits developed a to guide in 2021 on how to terminate an organization.

Nonprofits close even in times of financial stability, such as when an organization’s work is no longer needed or when its resources expire. There are so-called limited-life foundations like the Robina Foundation, which closed in 2020 after donating all of its money, and ClearWay Minnesota, established until the end of 2021 with funds from the 1998 settlement on the state tobacco.

“The shutdown is not a defeat, the shutdown is just a step for organizations,” Barr said. “The problem is … which ones leave a big void in their community?” “

More than 40,000 nonprofits are registered with the Minnesota Secretary of State’s office, although a number of them may not be financially active. The State Council of Nonprofit Organizations has more than 9,000 nonprofit organizations that have at least one employee, from small food shelves to large healthcare organizations.

“There aren’t a good number of nonprofit organizations,” said Nonoko Sato, executive director of the State Council of Nonprofit Organizations. “Nonprofits exist because of the needs of the community. “

In Minnesota and across the country, workplace campaigns – which allow employees to donate through payroll deductions – are on the decline due to the increase in online giving and the desire for donors to devote their money to certain projects or groups.

The Minnesota Environmental Fund’s workplace giving campaigns fell 30% during the pandemic, following a more gradual decline in recent years, Hince said. Greater Twin Cities United Way, which has long relied on giving in the workplace, has also had to find new ways to raise dollars to balance its declining income.

“People like to donate to something you see on the news, or a text message you get from a friend, or something you see on Facebook,” said Maureen Hartung, executive director of Minnesota Community Actions in Saint-Paul. “Donating in the workplace, where it comes out the following year … is difficult for new generations.”

By announcing their closings, Community Shares and the Environment Fund encouraged donors to directly support the nonprofits they have funded for years. Community Shares has awarded more than $ 25 million to social, arts and community justice organizations since 1978, while the Environmental Fund has distributed more than $ 14 million since 1991 to groups working to preserve areas like the Mississippi River and the Boundary Waters Canoe Area Wilderness.

The Environmental Fund has attempted to diversify its funding sources, downsize, and close its St. Paul office. But this fall, the board of directors announced that it will close permanently on April 30.

nonprofit of Hinc, the Pepin Lake Heritage Alliance at Red Wing, will lose $ 10,000 per year when the Environmental Fund closes. She tries to increase giving from individuals rather than relying on large organizations to deal with future philanthropic changes from the small, nonprofit organization, which has three employees and an annual budget of $ 250,000.

“There are so many other changes in the world of philanthropy right now,” Hince said. “It’s just a challenge for all nonprofits.”

Community Shares developed its own online donation tool in 2008, but that was not enough to completely replace lost money and compete with new technology, Hartung said. The last straw has come with COVID, leaving companies – some facing their own cuts – reluctant to ask for donations from employees.

“We honor what the community seeks,” said Hartung, one of two employees of Community Shares. “But it’s also sad.”

Funding for community actions helped support the Hmong Arts and Talent Center, a small non-profit organization in St. Paul with an annual budget of $ 150,000. “They were an incredible lifeline,” said executive director Steve Thao. “It’s not just the money. It’s the reminder of the mission of what we do.”

The lack of funding, coupled with foundations dropping funding for the arts, will hurt small nonprofits like Thao’s the most.

“The big picture is that fewer people are being served. It’s really disheartening,” he said of nonprofit closures. “I hope the economy picks up… some of these nonprofits will come back and be revived.”


Source link

]]>
Indianapolis Bank Charged With Redlining Against Black Residents In Federal Lawsuit Reaches Multi-Million Dollar Settlement https://himspairport.com/indianapolis-bank-charged-with-redlining-against-black-residents-in-federal-lawsuit-reaches-multi-million-dollar-settlement/ Fri, 31 Dec 2021 19:27:00 +0000 https://himspairport.com/indianapolis-bank-charged-with-redlining-against-black-residents-in-federal-lawsuit-reaches-multi-million-dollar-settlement/ After allegations emerged that the Old National Bank (ONB) endangered black residents of Indianapolis, the 187-year-old bank agrees to an eight-figure settlement with the Fair Housing Center of Central Indiana (FHCCI) . The financial institution will pledge $ 30 million in loans and programs to help black people interested in buying a home qualify for […]]]>

After allegations emerged that the Old National Bank (ONB) endangered black residents of Indianapolis, the 187-year-old bank agrees to an eight-figure settlement with the Fair Housing Center of Central Indiana (FHCCI) .

The financial institution will pledge $ 30 million in loans and programs to help black people interested in buying a home qualify for mortgages.

Wikipedia Commons

As part of the settlement, the bank also agreed to invest in predominantly black neighborhoods.

The agreement between ONB and FHCCI was announced on Thursday, December 16.

A detailed press release issued by FHCCI says that a significant part of the settlement is the opening of two branches in predominantly black communities of Indianapolis.

These branches will first open as loan production offices and after two years and regulatory approval, will become full-service branches. They will also be staffed by the bank with two mortgage loan officers and a community outreach specialist to meet the needs of the community.

Amy Nelson, executive director of FHCCI, said the agreement “will offset loan disparities for black housing seekers in Marion County by providing mortgage lending opportunities, bank branches, neighborhood stabilization grants and fair lending education. “

Over the next three years, as part of the plan and development of a special purpose credit program, ONB will provide a minimum of $ 20 million in loans for the purchase of single-family homes in low-income neighborhoods. predominantly black Indianapolis. This will be designed to help prepare black residents for loan qualification.

The deal says ONB will set aside “$ 1.1 million in loan grants, up to $ 10,000 per transaction, to support down payment assistance, mortgage insurance premiums, premiums and help with closing costs in majority black census tracts and expand the use of its Home Manager Mortgage Product, which allows loans up to 97% LTV [loan-to-value ratio] without PMI [private mortgage insurance] and revised program guidelines to increase eligibility.

At least $ 7.5 million in loans are expected to go to affordable multi-family housing developments in the city and $ 1.3 million in grants will go to local CDCs and community organizations serving or based in the city’s black neighborhoods.

The bank also pledged to hire a consulting firm to assess lending practices for black and brown applicants in other cities outside of Indianapolis, such as the Indiana cities of Evansville and Fort Wayne, as well. than in Louisville, Kentucky and Minneapolis, Minnesota.

In October 2022, the FHCCI deposit a Federal Court complaint against ONB, alleging that the institution used race to unlawfully discriminate in its residential mortgage lending practices. The complaint stated that despite 28% of Marion County residents identifying as black, ONB only granted 37 mortgages to black borrowers in the metro Indianapolis area in 2019 and 2020.

During those two years, there were 2,260 applications from potential black borrowers. A total of 2,250 mortgages were made in the Metro Indianapolis-Carmel-Anderson area during the same period.

According to the complaint, the main factors leading to the discrimination were the lack of branches in black neighborhoods, discrimination by loan officers and the lack of black employees dealing with mortgages.

“FHCCI and ONB have created a guide for other financial institutions to bridge their own disparities and ensure fair lending opportunities for all,” Nelson concludes.

As part of this agreement, FHCCI will receive a donation of $ 350,000 from ONB to support fair loan education opportunities and programs.

More news from our partners:

“We Weren’t Authorized to Arrest Whites:” Pioneer Tampa Officers Honored for Striking Against Discrimination in Police Service

“No one is victimizing you” | Domonique Foxworth returns for Aaron Rodgers

Not Just Dollars: Why Creating Wealth Is More Than About Money, And How Black America Can Close The Wealth Gap


Source link

]]>