‘Liar loans’: Australians overstating income to get mortgages, says analyst

UBS’s Jonathan Mott says one third of those who took out a mortgage in the past 12 months were not ‘completely factual’ with their financial information  A UBS banking analyst says ‘one quarter to one third of the mortgages on Australian banks’ books are based on factually inaccurate applications’. Photograph: […]

LOAN WARNING Is your mortgage a ‘ticking time bomb?’ Millions of households warned about interest-only home loans

INTEREST-only mortgages are a “ticking time bomb” for hundreds of thousands of homeowners in the UK who may have no way of paying off the money they owe, experts have warned. Borrowers on this type of loans are allowed to only pay the interest on their mortgage each month, meaning […]

10 Sources of Loans for Minority Owned Businesses and How to Apply

For years, entrepreneurs belonging to minority communities have played a prominent role in driving the U.S. economy forward. When considering minorities new to the U.S., a Kauffman study (PDF) conducted in 2013 found immigrants were nearly twice as likely as native-born citizens to start businesses each month. Of course, not all […]

10 Sources of SMB Loans for Veteran Entrepreneurs and How to Apply

As small business owners, veterans play a very important role in driving the U.S. economy. Veteran-owned businesses employ more than six million workers, and generate approximately $1.2 trillion in annual receipts, according to the Small Business Administration (SBA). What’s perhaps most interesting is that the number of veterans pursuing their […]

IIT students to get interest free education loans for 5 years

The annual tuition fee for undergraduate students was increased from Rs90,000 per year earlier to Rs200,000 per year effective from the 2016-17 academic year. Photo: Indranil Bhoumik/Mint New Delhi: All students of the elite Indian Institutes of Technology (IITs) whose annual family income is less thanRs.9 lakh will be eligible […]

Paytm starts offering collateral-free loans for merchants on its platform

Paytm uses credit profile based on the transaction history of merchants on its platform. Photo: Bloomberg New Delhi: Payments services and e-commerce firm Paytm on Monday said it has started offering collateral-free working capital loans for merchants on its platform. One97 Communication Ltd, which operates the Paytm platform, has partnered […]