Home loan applications rose overall last week to their highest level since January, though much of that was due to the surge in refinance applications.
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Posted inBusiness
U.S. agency says apps that let workers access paychecks before payday are providing loans
The Consumer Financial Protection Bureau says the apps are therefore subject to the Truth in Lending Act.
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Posted inBusiness, Maine, Maine Crime, News
North Berwick man pleads guilty to defrauding pandemic relief fund of $200,000
Frederick Avery received over $200,000 from the Paycheck Protection Program for a business he no longer owned.
Posted inBusiness, Nation / World, News
The U.S. wants to crack down on payday loans. Here’s what you need to know.
The Consumer Financial Protection Bureau is trying to crack down on predatory lending, while some states have already passed borrower protections on their own.
Posted inBusiness, Uncategorized
These apps allow workers to get paid between paychecks. Experts say there are steep costs
More people are using so-called Earned Wage Access apps to get money to pay bills and buy groceries in between paydays.
Posted inBethel, Business, Franklin, Lewiston-Auburn, Maine, Oxford Hills, River Valley, sj-web
Maine cities, towns using loans to spark business growth
LEWISTON — Black Bear Ladder opened 18 years ago on Pleasant Street, then a father-son operation that has grown to carry hundreds of ladders, seven kinds of caution tape, hard hats in nine colors, scaffolding and a host of safety equipment. It may be the only place to find a “Danger: Crane working overhead” sign […]
Posted inRiver Valley
Rumford voters to consider $2 million in loans for downtown project
RUMFORD — Voters going to the polls Nov. 7 will consider two questions asking to borrow a combined $2 million toward the downtown infrastructure project slated for 2018. One article would authorize the town to get a loan of $1.38 million at 1.5 percent interest from the 2017 Clean Water State Revolving Funds for replacing water […]
Posted inLewiston-Auburn
Maine community colleges help students graduate with less debt
Naima Noor, currently a student at the University of Southern Maine, is photographed at Central Maine Community College where she went for the first two years of her college education. LEWISTON — One way to graduate from college with less debt is to take advantage of the Maine Community College System and the University of […]
Posted inLewiston-Auburn
What’s the real cost of college, loan debt?
Andrienne Bolton, a Lewiston High School senior, says college costs are important to her when deciding where to go. Lewiston High School is offering a college award analysis workshop for students and parents April 11 and 24. LEWISTON — Hussein Adan, 18, a senior at Lewiston High School, has been accepted to a New Hampshire […]
Posted inMaine
Eric Brakey stands alone against bill for big business fund
AUGUSTA — Sen. Eric Brakey, R-Auburn, stood alone Thursday against a bill that could set up a new fund with the Finance Authority of Maine to make large loans to businesses hoping to bring good-paying jobs to the state. The bill, LD 1480, sponsored by Sen. Stan Gerzofsky, D-Brunswick, creates the Maine Capital Investment Program within […]