The new credit facility consists of a $5,000,000 asset-based revolving line of credit and a $3,500,000 amortizing term loan. A portion of the proceeds of the new credit facility has been used to repay all amounts outstanding under the Company’s existing credit facility, which has been terminated. That credit facility was scheduled to expire December 31, 2016. The Sterling revolving loan and term loan facilities are variable interest rate loans, based upon the 30-day LIBOR rate (currently 0.76%), plus a margin of 4.00% with respect to the revolving loan and 4.50% with respect to the term loan. This pricing represents a 3.99% reduction in our cost of funds per annum, with respect to the revolving loan and a 3.49% reduction in our cost of funds per annum, with respect to the term loan. The term loan will amortize at the rate of $19,444 per month, maturing (together with the revolving loan facility) on December 28, 2019. All outstanding indebtedness under the new credit facility is secured by all of the assets of the Company and its subsidiaries, and is guaranteed by Blonder Tongue Far East, LLC, a wholly-owned subsidiary of the Company. Eric S. Skolnik, Chief Financial Officer commented: “We are very pleased with the terms that Sterling has made available to us under the new facility. They understand our business and are providing us with increased availability and more flexible funding options compared to our prior lender.
Typically, franchise finance packages are available to you over 3-5 years with minimal information required upfront. If you finance those 10 cars through a bank or car dealer, it will cost you $289,920, assuming a 7.5% interest rate. A great starting point is to look at each individual’s assets and debts along with their credit reports and financial statements. One can either pay off or extend it at the end of the loan term. The world of bill collection can be particularly cut-throat and unscrupulous, and many consumers are quietly enduring harassment because they do not know their rights. With the emergence of new technologies managing and controlling has become easier than ever before, thus allowing companies to go global introducing their services and products in various countries. The more up market areas like South Sand have houses starting at CI$950. Although these methods allow for a fairly noble solution with confronting debt, in most cases, creditors fail to call off their collection agencies once notified of a consumers intent.
Financial planning prior to your wedding is a very important process that although not fun, but necessary. According to FDCPA, a debt collector cannot; Telephone you an unreasonable number of times; Telephone you at an unusual time/ unusual place; Disclose information of your debts to third parties; Use profane or other abusive language; contact you after written notification that you do not want to be contacted any further; Claim to be affiliated with any governmental organization; Misrepresent the character, amount or legal status of a debt; Threaten to take any action that cannot be taken legally; Accuse you having committed a crime; Threaten or communicate false credit information; Attempt to collect, until he donors your request to validate; Use deceptive methods to collect debts; Call you before 8:00 a.m. or after 9:00 p.m.; Call you, but not announce who he/she is. Amounts land by the loan companies are determined by the wholesale value of the vehicle. While bad credit definitely effects your chances of getting a loan, if you need financing there are options available to you. Most companies do not make credit checks.