Loan interest

Illinois Passes Consumer Loan Interest Rate Cap, Lenders Subject to Penalties and Other Relief | Hinshaw & Culbertson – Consumer Hub

On January 13, the last day of the six-day lame duck session of the Illinois Legislative Assembly, the General Assembly passed the Illinois Predatory Lending Prevention Act (PLPA) as part of SB 1792. The PLPA caps annual percentage rates for consumer loans at 36% for open and closed credit. The 36% APR must be calculated […]

Loan interest

How To Get The Student Loan Interest Deduction | Store student loan

The arrival of a new year is the time to start preparing to file your tax return. This year, that process for many student borrowers includes understanding the implications of the coronavirus pandemic on potentially obtaining a student loan interest deduction for 2020. While the March 2020 CARES Act temporarily suspended payments, froze interest rates […]

Loan application

Customers Bank opens PPP loan application portal; Will also provide turnkey white label solution for other lenders

WEST READING, Pa.–(BUSINESS WIRE)–Customers Bank (NYSE: CUBI), one of the nation’s top Paycheck Protection Program (PPP) lenders in 2020, began accepting applications late yesterday for the new round of loans backed by the government designed to help small businesses maintain employment with wages and health benefits. The bank has participated in more than 100,000 PPP […]

Loan application

Nav launches PPP loan application portal for SMEs

SALT LAKE CITY, January 11, 2021 /PRNewswire/ — Navigationthe simple and smart financing platform for small businesses, today launched its PPP Application Portal to help small businesses quickly apply for the new Paycheck Protection Program (PPP) loan series. The Nav PPP Portal simplifies and streamlines the process of submitting PPP loans and guides business owners […]

Loan interest

How to Claim the Student Loan Interest Tax Deduction in 2021

As with most types of debt, interest on student loans can make it difficult to reduce the principal balance. But unlike many other types of debt, there’s a small silver lining with student loan interest: it’s tax deductible. Every year more than 12 million Americans get a little boost on their taxes with the student […]

Loan application

SBA extends EIDL loan application deadline to end of 2021

the Small Business Administration (SBA)announced the extension of the deadline for businesses to apply for the Economic Disaster Loan (EIDL) program until December 31, 2021. The further extension of the deadline for the second round of EIDL funding comes after the second $900 billion COVID-19 relief bill was signed into law on December 27, 2020. […]