Financial Affairs – Fall Of 55 Wed, 29 Sep 2021 13:08:38 +0000 en-US hourly 1 Financial Affairs – Fall Of 55 32 32 JICA, GoI Sign Rs 12,107 Crore Loan Agreement for Delhi and Bangalore Metro Projects Thu, 08 Apr 2021 02:38:38 +0000

(Image tweeted by Christin Mathew Philip, TOI)

New Delhi, India (Urban Transport News): The Japanese financial institution Japan International Cooperation Agency (JICA) signed on March 26, 2021 an official development assistance loan agreement with the Indian government to provide financial support of about 12,107 crore for the development of the next phases. metro projects in Delhi and Bangalore.

For the construction of the corridors of Phase 4 of the Delhi Metro Project, JICA will provide 8,390 yen crore to the Delhi Metro Rail Corporation Ltd. (DMRC). This loan is used for three priority corridors including the extension of line 7 of 12.5 km (Mukundpur – Maujpur), line 8 of 28.9 km (Janakpuri West – RK Ashram) and a new corridor of 23.6 km km between Aerocity and Tughalakabad.

For the construction of the corridors of phase 2 of the Bangalore Metro Rail project, JICA will provide 3,717 crores of to Bangalore Metro Rail Corporation Ltd. (BMRC). This loan is used for the construction of Reach 6 (Kalena Agaraha – Nagawara, 21.39 km), Phase 2A (Silk Board – KR Puram, 20 km) and Phase 2B (KR Puram – Kempegowda International Airport, 38 km).

“JICA has encouraged the development of quality infrastructure in Bangalore, which facilitates sustained growth, and has worked for the strong bond of India and Japan. Bangalore was in second place in terms of CO2 emissions, followed by Delhi in 2015 and the project is expected to contribute to an estimated annual reduction of 89,952 tonnes of CO2 greenhouse gas emissions by around 2031 ”, said Matsumoto Katuso, chief representative of JICA in India.

The projects are committed this time to contributing to a vital area of ​​development in India and to quality infrastructure to achieve the Sustainable Development Goals (SDGs), which are directly linked to improving people’s lives, ”he said. he added.

The loans will also be used for the purchase of rolling stock (train cars) for the two projects.

JICA has so far financed several metro projects in major Indian cities like Delhi, Bengaluru, Chennai, Kolkata, Mumbai and Ahmedabad with ODA loans of around ??87,000 crore (1,300 billion JPY).

]]> 0
Opinion: Small Business Administration’s relaxed loan terms offer a silver lining for small businesses Thu, 08 Apr 2021 02:38:26 +0000

The dominant narrative around US small businesses throughout the pandemic has been pessimistic rhetoric. But there is another side to the history of small business that is emerging. A story of determination, perseverance and new opportunities.

Many companies have shown incredible creativity and ingenuity to take advantage of the opportunities arising from the pandemic and are shifting into growth mode as a result. Maybe they’ve invested in new technology to adapt to a contactless world, or they’ve moved a production line to make hand sanitizer or protective gear. As a result, they are now prosperous and need capital to grow.

The good news is that these companies have very attractive financing options through the Small Business Administration (SBA) thanks to the Recovery plan spent in December. The bill improved three key loan programs that are part of the SBA’s traditional offerings, creating very generous loan terms. Many companies should think about how they can take advantage of this.

The changes to these programs went into effect on February 1 and have not received publicity for the expansion of the paycheck protection program. Plus, these provisions are only in place for a limited time – until September – so business owners need to act quickly.

For SBA’s traditional 7 (a) loans, businesses borrowing less than $ 4.15 million can now get a government guarantee of up to 90% of their loan amount, allowing banks to approve more. easily the loans from the SBA. But there are several changes that directly benefit borrowers. The first is that the guarantee fees were waived, saving up to $ 150,000 on larger loans. In addition, the SBA will cover three months of principal and interest payments on any loan approved by the end of September, up to $ 9,000 per month.

Any business that sees growth opportunities right now should seriously consider an SBA 7 (a) loan.

Take a restaurant business client I know who was shut down by the first wave of COVID-19, but has since transformed into a delivery-only service and redeployed its servers to become delivery drivers. After seeing the disaster in the face, the company’s year-end revenue is roughly the same as in 2019. Its main challenge now is reaching more customers, so the restaurant is considering adding “ghost kitchens” to answer the question. This is exactly the kind of candidate that the new rules are designed to benefit.

Another offer from the SBA that has become much more generous is Express Loans. These lines of credit were previously capped at $ 350,000 and backed by a 50% government guarantee.

Now they go up to $ 1 million and lines up to $ 350,000 can get a 75% government guarantee. As with 7a loans, the guarantee fee is waived and the SBA covers the first three months of interest payments. This offering is best suited to growing businesses that need working capital to overcome short-term obstacles. They may be dealing with buyers who don’t pay as quickly as usual, or they may have to purchase more inventory in advance due to delays in the supply chain.

The third channel where businesses can reap new benefits is the 504 loan program. Typically, these loans are used for the purchase of owner-occupied commercial real estate or for the purchase of manufacturing equipment. The SBA is now waiving a 1.5% commission on its share of the loans, plus a 0.5% commission that must be paid by the bank. The SBA will also pay the first three months of principal and interest.

A 504 loan is best suited for businesses looking to expand by purchasing real estate, but will soon be available for businesses needing to refinance an existing loan on owner-occupied property. The refinance program could become an excellent choice for businesses that experience a drop in the value of their properties as their conventional loan matures, which could affect businesses that own their retail or offices within months. future.

As many states begin to reopen as vaccinations increase and COVID-19 rates decline, small businesses that have survived the pandemic are considering reinvesting in their businesses.

After such a difficult year, it’s encouraging to see SBA lending policies that will help businesses thrive. Based on the ingenuity and dynamism that I have seen over the past 12 months, businesses are sure to take advantage of these offerings and accelerate their growth.

Mark Abell is Senior Vice President and SBA Division Director at NBH Bank, which serves its customers through the Community Banks of Colorado, Bank Midwest and Hillcrest Bank.

]]> 0
Business loans lead the liquidity jump this year Thu, 08 Apr 2021 02:38:16 +0000


South Korea’s business loans have risen sharply this year amid the coronavirus outbreak, causing the country’s overall money supply to surge, central bank data showed on Wednesday.

The country’s M2 money supply stood at 3,065.8 trillion won ($ 2.56 trillion) at the end of May, up 10.6 percent from the previous year, according to data from the Bank of Korea (BOK).

This is the highest amount ever, and the year-over-year growth rate is also a record high.

Loans to businesses contributed over 60% of the annualized increase, with loans to households contributing only 20%.

Outstanding business loans increased by 177.3 trillion won during the cited period, accounting for 60.6 percent of M2’s gain of 292.6 trillion won.

A key economic indicator closely watched by authorities, M2 is a measure of money supply that includes cash, demand deposits, and other quasi-currencies that are readily convertible to cash.

At the end of May, outstanding business loans climbed 14.9% from the previous year, far exceeding the 4.9% increase in loans to households.

Local businesses are widely seen as having rushed to get cash amid the prolonged impact of the COVID-19 outbreak, combined with low interest rates.

In a bid to revive the virus-hit economy, the BOK has carried out two rate cuts in less than three months since the country confirmed its first case of the coronavirus on January 20, sending the policy rate to an all-time high 0.5%.

But observers said South Korean companies just seemed to be sitting on plentiful cash without spending their money on productive activities.

Loans to businesses increased by some 101 trillion won between January and May of this year, while their savings also increased by 46.7 trillion won during the period, the data showed.

“Businesses tend to get more funds through loans or other means as business conditions become more uncertain,” a BOK official said. “The central bank’s accommodative monetary policy can only become effective when abundant liquidity leads to investment.” (Yonhap)

]]> 0
“390 days with my son-in-law! »My version of the containment story Thu, 08 Apr 2021 02:38:04 +0000

I am the mother-in-law of Nick Josse, author of “365 days with my mother-in-law: boots in the field View of Barcelona’s economy.“This is my side of the story.

By Sylvie, Nick Josse’s stepmother for LOUP STREET:

I’m from Mexico and currently live in Barcelona with my daughter and Nick, although I plan to return to Mexico in the coming weeks. The prospect of boarding a plane terrifies me – far more than the flight I took from Mexico to Barcelona on March 5, 2020. I had no idea then that I was probably flying at the most dangerous time of all. the pandemic.

To my amazement, we are now at Day 390. I spent most of those days locked in a 170 square foot room. Four and a half of the five suitcases I brought from Mexico are still unpacked.

My original plan was to rent an apartment in Barcelona and sublet one of the rooms to short-stay Mexican visitors. I have visited my daughter and son-in-law in Barcelona for long periods of time, since my retirement over five years ago. I have taken a liking to this city. Unlike Mexico City, Barcelona is made for walking. I love strolling through the narrow cobbled streets of the Gothic Quarter and El Born. When I arrive at Barceloneta, I sit on the terrace of a cafe and contemplate the Mediterranean. Simple food washed down with Vermouth, a wary eye on my stuff – this is Barcelona after all !.

This time my stay was supposed to be permanent. To this end, I sold my beloved fourth floor apartment in Mexico City, overlooking a leafy park. It was my home for over 40 years, my pride and joy, the result of decades of hard work. But in 2017, I discovered, to my horror, that the city’s new seismic survey had identified my neighborhood as one of the most at risk for property damage in future earthquakes. My apartment had already survived two major tremors (1985 and 2017), having suffered only minor damage. I have friends who lost everything they owned in 1985. And insurance policies in Mexico don’t cover all the damage.

I decided to stop trying my luck and put my apartment up for sale. The money raised from the sale, along with the rental income generated by my apartment in Puebla, would provide enough funds to finance my move to Barcelona. At least that was the plan.

Almost all of the money was still in Mexican pesos, when the peso plunged 25% against the euro in the first five weeks of the coronavirus crisis.

The sale of my apartment was executed in pesos, and I intended to transfer at least half of the money in euros. I first needed to open an account in Barcelona. Once I did that I would be able to transfer funds from my Mexican account. But when I met my bank manager in Mexico, he failed to ask me to sign the main anti-money laundering papers. As a result, I was unable to transfer any money despite granting my niece a power of attorney before I left.

At that time, Spain was in lockdown. All I could do was watch the value of the money in my Mexican bank account plunge against the euro. Right now, renting my own studio in Barcelona is almost impossible, and sharing an apartment with someone else is also out of the question due to the pandemic.

So here I am, ready to go home. While part of me is excited about the prospect of returning to my homeland, I can’t help but worry about what I will find there.

Mexico has always been a land of ups and downs. In the lost decade of the 1980s, annual inflation exceeded 100%, wiping out the savings of much of the middle class. During the tequila crisis of 1994-1995, a sudden devaluation of the peso triggered a massive sale of Mexican assets. Amid the fallout, a chain of lenders collapsed. An IMF bailout was quickly staged to prevent chaos from spreading to Wall Street investment banks. Inflation was over 50%.

But the virus crisis, which is far from over in Mexico, could end up taking an even greater toll. The economy had already stopped growing before the arrival of Covid. Then last year, it suffered its worst crisis since the 1930s, falling 8.5%. This is worse than the worst year of the tequila crisis when the economy contracted 6.3%. It’s also worse than the worst year of the global financial crisis, 2009, when the economy shrank 5.1%. The virus crisis also devastated domestic consumption, which suffered its worst annual decline on record (-11%) – almost twice as much as in 2009 (-6%).

The Mexican government does not have the fiscal or monetary capacity to provide the type of financial support programs that have been put in place in more advanced economies. The government has resisted calls to shell out to prop up the economy, arguing (rightly) that bailouts tend to line the pockets of the rich. Instead, it has targeted most budget support programs on the most vulnerable segments of society. As a result, public debt has not increased as much as in other economies.

But it also means that Mexican companies have not benefited from the kind of support that, for example, the United States, France and Germany do. No government-backed emergency business loans, no grants, no vacation programs. Many businesses, especially small ones with little cash, have already collapsed.

My nephew who works in the construction industry in Puebla says that about one in three properties on the ground floor in town is currently vacant. Rents and property values ​​are dropping sharply, he says. In Mexico City, 50% of office space and 70% of retail space in the 50-storey World Trade Center are empty.

The construction sector is in difficulty. In 2020, the sector’s activity fell by 17%. He was already in trouble before that. In January, it recorded its 31st consecutive month of decline in activity, according to INEGI. The first blow came from the reduction in civil works, due to the low investment in public infrastructure. New building construction kept the area afloat until the shutdown last year, and falling housing demand crippled activity. Today, the industry faces additional pressure from rising input costs.

The virus crisis has also exacerbated two of Mexico’s biggest problems: poverty and inequality. Even before Covid-19, almost half of Mexico City’s population was already living in poverty, according to the National Council for the Evaluation of Social Development Policies (CONEVAL). The pandemic further exacerbated a bad situation: some 63% of the country’s households saw their incomes drop during the worst months of the economic crisis in 2020. And schools were closed for 13 months.

Last year, remittances, mainly from the United States, helped cushion the shock for many families. This year, the hope is that Mexico’s exports to the United States and beyond will increase as the global recovery takes hold.

Optimistic by nature, I would like to believe that will happen. But it’s hard to be optimistic when you’ve been living with Nick for 390 days. By Sylvie, Nick josse stepmother for RUE DU LOUP.

Do you like reading WOLF STREET and want to support it? Use ad blockers – I totally understand why – but you want to support the site? You can donate. I really appreciate it. Click on the beer and iced tea mug to find out how:

Would you like to be notified by email when WOLF STREET publishes a new article? Register here.

Many experts agree that metal roofs are an excellent defense against forest fires. Click here or call 1-800-543-8938 for more details from our sponsor, the folks at Classic Metal Roofing.

Classic Metal Roofing Systems, the leader in fire-rated roof for residential applications, manufactures products that weigh 1/20 the weight of most tile products and that qualify for Class A, B or C fire ratings, as determined by roof preparation.

]]> 0
Metrion Biosciences closes new £ 2.7million equity financing Thu, 08 Apr 2021 02:37:46 +0000

CAMBRIDGE, England – (COMMERCIAL THREAD) – Metrion Biosciences Limited (Metrion), the ion channel CRO and drug discovery company, today announced it has secured £ 2.7million in new equity funding, including £ 2.25million from from lead investor Gresham House Ventures. The funding will be used to expand Metrion’s laboratories in Cambridge, UK, invest in specialized equipment, expand its cell line library and add BPL cardiac safety services. The financing will also allow the expansion of the Company’s business development activities.

Metrion Biosciences’ expertise in ion channels includes a panel of in vitro cardiac ion channel safety assays, translational native and phenotypic cell assays for neurological and cardiotoxicity testing, and a range of other ion channel screening services such as cell line development and optimization. Metrion Biosciences is able to provide custom analysis formats, data analysis and reporting solutions, efficient project management and quality assured data packages.

Dr Keith McCullagh, President of Metrion Biosciences, said: “This new investment, led by Gresham House Ventures, is a key part of Metrion’s strategic development, enabling the company to expand its laboratories in Cambridge, UK, provide improved services to customers and invest more in business development in the United States. We thank Gresham House for their confidence in the Metrion team and are delighted to welcome Maya Ward, who brings substantial experience in healthcare funding and investing, to the board of administration of Metrion.

Gresham House Ventures is a growth capital investor specializing in software and digital businesses in the healthcare, consumer and service industries.

Maya Ward, Associate Director, Gresham House Ventures, said: “Metrion has an impressive reputation in the field of contract ion channel research. With more focus than ever on the healthcare industry, we are delighted to support a team of high caliber experts, who provide highly specialized service in a structurally growing market. As experienced growth investors with a deep understanding and knowledge of this industry, we look forward to helping the company grow, both in the UK and the US.

See the source version on

]]> 0
West Ham and Southampton set to grant late loan to Liverpool midfielder Marko Grujic Thu, 08 Apr 2021 02:37:24 +0000

West Ham and Southampton set to grant late loan to Liverpool midfielder Marko Grujic as both sides also consider Ruben Loftus-Cheek

  • West Ham and Southampton set to make Liverpool offer for Marko Grujic
  • Both sides hope to loan the Serb before Monday’s deadline
  • Grujic has spent the last two seasons away from Anfield with Hertha Berlin
  • West Ham also wants Ruben Loftus-Cheek and will switch to Jack Wilshere

West Ham and Southampton are considering loans for Liverpool’s Marko Grujic ahead of Monday’s transfer deadline.

Both clubs are looking for midfielders and have the Serbian among the options being considered.

Grujic, 24, has spent the last two seasons on loan at Hertha Berlin in Germany where he made 54 appearances, scoring nine times and scoring three more goals.

West Ham and Southampton consider loans for Liverpool’s Marko Grujic

He has played twice this season, appearing in both Liverpool’s Carabao Cup games against Lincoln and Arsenal.

Both clubs are also among the teams interested in Chelsea’s Ruben Loftus-Cheek.

But while Southampton expect the price to be steep due to the England midfielder’s salary, West Ham are ready to continue their pursuit of the 24-year-old.

West Ham also had an offer for Club Brugge midfielder and captain Hans Vanaken rejected.

The Serbian midfielder has spent the last two seasons on loan at Hertha Berlin

The Serbian midfielder has spent the last two seasons on loan at Hertha Berlin

Both clubs are also interested in English Chelsea midfielder Ruben Loftus-Cheek

Both clubs are also interested in Chelsea’s England midfielder Ruben Loftus-Cheek

Meanwhile, West Ham remains in talks with Jack Wilshere and hopes to come to an agreement on his release.

Wilshere has less than 12 months on the three-year contract, worth around £ 100,000 a week, which he signed when he joined for free after leaving Arsenal in 2018.

However, he was limited to just 18 appearances due to injury.

West Ham would ideally like to find a buyer for Wilshere who would allow them to collect some money.

However, if there are no takers before the window closes, they aim to find a compromise to terminate his contract by mutual agreement.

]]> 0
Quicken Loans Arena in Cleveland changes name to Rocket Mortgage FieldHouse Thu, 08 Apr 2021 02:37:02 +0000

For more than a decade, the Cleveland Cavaliers have played their home games at Quicken Loans Arena, named after the mortgage company founded by team owner Dan Gilbert.

The arena, which opened in the 90s, became known in Cleveland as “The Q”.

But “The Q” is no more.

The Cavaliers, City of Cleveland and Quicken Loans announced on Tuesday that Quicken Loans Arena will now be known as Rocket Mortgage FieldHouse, as the lender continues to rename itself on behalf of its signing offer.

Quicken launched Rocket Mortgage over three years ago, offering mortgage pre-approvals in minutes and launching a digital mortgage revolution.

Since then, Rocket Mortgage has grown significantly. According to Quicken, 98% of all mortgages issued by Quicken use Rocket Mortgage technology.

With the growing popularity of Rocket Mortgage, the parent company of Quicken, Rock Holdings, began renaming several of Quicken’s sister companies to also bear the “Rocket” name.

Last year the company renamed Internal real estate, a digital platform for connecting consumers with real estate agents, to Rocket houses.

And now, one of the company’s main advertising media will also be called Rocket Mortgage.

“There are a lot of synergies between transforming this great location and the nation’s largest residential housing lender,” Quicken CEO Jay Farner said Tuesday.

“Cleveland has been a big home to us for many years, not only because of the name of the arena, but also because of our very successful 600-member downtown office team,” Farner continued. “We are delighted to see our Rocket Mortgage brand take center stage as we join the Cavaliers in this exciting new era in sports and entertainment history in Cleveland.”

The name change to Quicken Loans Arena is part of a $ 185 million renovation of the facility, which opened in 1994.

“Since 1994, Cleveland has shared countless unforgettable moments in this arena. From hosting world-class musical acts to multiple NBA Finals games, the Rocket Mortgage FieldHouse has been the epicenter of entertainment in Cleveland for decades, ”said Gilbert. “Today marks the start of the next chapter in the evolution of this incredible facility, which is not only one of the best sports and entertainment venues in the world, but a technology hub leading the charge in terms of development. innovation, efficiency and fan experience. “

]]> 0
Global “A” and “A-” ratings for sub-debt transform low-cost deposit opportunities Thu, 08 Apr 2021 02:36:25 +0000

LONDON, ON, April 7, 2021 / PRNewswire / – VersaBank (“VersaBank” or the “Bank”) (TSX: VB), a leader in digital banking and cybersecurity solutions, today announced that it has received the following senior credit ratings from Egan-Jones Ratings Company, a nationally recognized US statistical rating organization (NRSRO) and the National Association of Insurance Commissioners of the United States (NAIC Recognized Credit Rating Provider:

  • “A” rating for the Bank as a whole; and,
  • “A-” rating for the outstanding subordinated debt issue up to US $ 100 million.

VersaBank’s overall “A” credit rating is comparable to that of several of Canada’s “Big Six” Schedule I banks.

“This is a truly transformational event for VersaBank that will significantly expand our universe of depositors and open a new low-risk lending channel, providing the opportunity to further accelerate our growth in ways not previously available to us.” Said David Taylor, President and CEO, VersaBank. “Additionally, the Bank’s investment ratings are an external affirmation of our low-risk digital banking model, which is fundamental to our ability to drive earnings growth and shareholder value. ”

“It is important to note that VersaBank’s ‘A-‘ subordinated debt rating offers the Bank a new option for significantly less costly, non-dilutive and tax-efficient capital that was not previously available to fuel our growth – particularly beneficial These new ratings are particularly valuable as we explore the possibility of launching our innovative digital banking services in new geographic markets beyond Canada, where we see significant unmet needs similar to those that drove the strong, steady growth. “

VersaBank Global “A” rating enables a new low-cost deposit channel, significantly expanding the universe of depositors in Canada and the United States

The overall “A” rating assigned to VersaBank by a rating agency recognized by the National Association of Insurance Commissioners (NAIC) considerably broadens the universe of potential VersaBank depositors, allowing the Bank to offer a very attractive deposit alternative. attractive to institutions such as insurance companies and designated municipalities, among others, in Canada and abroad, which generally hold longer term deposits and are limited to holding deposits with blue chip financial institutions .

“The foundation of VersaBank’s superior profitability, low risk proposition is our ability to find deposits at low cost, which allows us to achieve the best net interest margins in the industry,” said Mr. Taylor. . “We recently set a new high for its cost of funds at 1.34% and the Bank’s new investment grade credit rating now allows large, long-term depositors to provide a significant additional source of funds at low cost. ”


VersaBank is a Canadian Schedule I chartered bank with a difference. VersaBank became the world’s first fully digital financial institution when it adopted its highly efficient business-to-business model using its proprietary leading edge financial technology to profitably respond to underserved segments of the Canadian banking market in pursuit of interest margins higher net. while mitigating risks. VersaBank obtains all of its deposits and delivers the majority of its loans and leases electronically, with innovative deposit and lending solutions for financial intermediaries that enable them to excel in their core businesses. In addition, leveraging its in-house developed computer security software and capabilities, VersaBank has established a wholly-owned, Washington, DC-based subsidiary, DRT Cyber ​​Inc. Cyber ​​threats challenge financial institutions, multinational corporations and government entities on a daily basis.

VersaBank’s common shares trade on the Toronto Stock Exchange under the symbol VB and its Series 1 Preferred Shares and Series 3 Preferred Shares trade under the symbols VB.PR.A and VB.PR.B, respectively.

Visit our website at:

Follow VersaBank on Facebook, Instagram, LinkedIn and Twitter.

Cision View original content to download multimedia:–sub-debt-ratings-transform-low-cost-deposit-opportunities -301263828.html

SOURCE VersaBank

]]> 0 Lawyer for man accused of torturing teenage girls wants psychological assessment Wed, 07 Apr 2021 23:17:43 +0000

TRAVERSE CITY, MI – Lawyer for a man accused of torturing two teenage girls over the summer argues his client should be assessed for his mental capacity.

Brandon Reyes’ attorney argued in court on Monday January 4 that his client should undergo an independent psychological assessment to determine whether he can be held criminally responsible for the crimes he is accused of committing. WPBN / WGTU Reports.

Reyes, 20, is accused of detaining two teenage sisters, aged 13 and 15, against their will in July, and faces 17 counts in the case, MLive previously reported. He allegedly beat the two girls with a hammer, sexually assaulted the 13-year-old girl at gunpoint and hit the 15-year-old girl with a vehicle, making her back and forth several times. He also allegedly tried to blow the 15-year-old off a bridge.

The charges against Reyes include one count of assault with intent to murder; three counts first degree criminal sexual conduct, which involves penetration; one count of torture; several counts of assault with a dangerous weapon; and criminal firearm. Several of the charges carry life imprisonment.

In the early hours of July 19, the sisters met Reyes – who police described as a family friend – at a construction site on Lafranier Road, police said. He would have assaulted teens with a hammer, then led them to a secluded area on Keystone Road where they stayed until morning. Reyes is accused of threatening the girls with a gun during this time.

At one point, Reyes allowed the 13-year-old to leave; she returned home and told her mother about the incident, police said. The police were then called and a Amber alert for the 15-year-old with a description of Reyes’ vehicle was initiated later.

The vehicle was spotted at a Blair Township business shortly before 10 p.m. that day. A Grand Traverse County Sheriff’s Deputy who arrived at the scene recovered the 15 year old girl, who was injured and unconscious, and arrested Reyes.

Reyes is housed at the Grand Traverse County Jail.


Woman, 27, charged with murder in the shooting death of her boyfriend, 31

Police identify Muskegon teenager killed in shooting

Body of missing woman on New Years Eve found in field near apartment complex

Woman found dead in the street with gunshot wounds

Radio personality Connie Kellie dies, fans and on-air partner are heartbroken

Tuesday, January 5, data on coronaviruses by county: against a backdrop of weaker tests, positivity rates are on the rise

Man stabbed by girlfriend in Jackson County brawl, police say

Man from Ann Arbor, 19, charged with death of teenager from south of Lyon, second wanted suspect

]]> 0
$ 375 million loan to Sunwing to protect jobs Wed, 07 Apr 2021 23:17:41 +0000

The Canada Business Emergency Finance Corporation (CEEFC) announced that Sunwing Vacations and Sunwing Airlines have accessed $ 375 million in cash to protect jobs in Canada’s airline industry through a loan in the framework of the Large Employers Emergency Funding Mechanism (LEEFF).

Sunwing Airlines and Sunwing Vacations together provide nearly 3,000 Canadians with full-time jobs.


Canadian airlines have been in talks with Ottawa since Nov. 8 over sector funding, and this appears to be the first such announcement. Air Canada and Transat officials said last night they had no similar news to report at this time. WestJet officials could not be reached for immediate comment.

Sunwing has agreed to maintain an account with money received from customers for trips that have been canceled due to the COVID-19 pandemic. This account will be maintained until the conclusion of broader government discussions with the airline industry and until a policy is established for the treatment of these prepaid amounts.

LEEFF loans provide bridge financing to Canada’s largest employers whose needs during the pandemic are not being met by private market financing. It provides large Canadian employers with access to credit to preserve jobs and continue to operate during these difficult times.

Other LEEFF funding requests are currently under consideration. To protect the financial interests of taxpayers, rigorous due diligence and the cooperation of existing lenders are necessary.

CEEFC maintains a list of approved LEEFF loans, which can be viewed at

The key terms of the LEEFF loan facility can be found at

A full press release can be found here.

]]> 0