Economic life and loan information: July 2008

Sunday, July 20, 2008

Loan Purchase Agreements

WAIVER (this "Waiver"), dated as of _________,_________,_________(M/D/Y) , among AAA, INC., a _________(PLACENAME) corporation ("Holdings"), BBB, INC., a _________(PLACENAME) corporation (the "Borrower"), the several lenders from time to time party to the Credit Agreement referred to below (the "Banks"), and CCC, N.A., as Administrative Agent (the "Administrative Agent"). Unless otherwise defined herein, all capitalized terms used herein shall have the respective meanings provided such terms in the Credit Agreement referred to below.
WITNESSETH :
WHEREAS, Holdings, the Borrower, the Banks and the Administrative Agent are parties to a Credit Agreement, dated as of _________,_________,_________(M/D/Y)(as amended, modified or supplemented to, but not including, the date hereof, the "Credit Agreement"); and
WHEREAS, subject to the terms and conditions set forth herein, the parties hereto agree as follows;
NOW, THEREFORE, it is agreed:
I. Waivers:
1. The Banks hereby waive, but only during the Waiver Period (as defined below), any Default or Event of Default that has arisen (or may hereafter arise) under the Credit Agreement solely as a result of the failure of Holdings and the Borrower to comply with Section 8.07 of the Credit Agreement in respect of the Measurement Periods ending on _________,_________,_________(M/D/Y) and _________,_________,_________(M/D/Y); provided, however, the waiver set forth in this Section 1 shall cease on _________,_________,_________(M/D/Y)(and with the period from _________,_________,_________(M/D/Y) through and including _________,_________,_________(M/D/Y) being referred to herein as the "Waiver Period") at which time such Defaults and/or Events of Default shall be reinstated automatically.
2. The Banks hereby waive, but only during the Waiver Period, any Default or Event of Default that has arisen (or may hereafter arise) under the Credit Agreement solely as a result of the failure of Holdings and the Borrower to comply with Section 8.09 of the Credit Agreement for the Waiver Period; provided, however, the waiver set forth in this Section 2 shall cease on _________,_________,_________(M/D/Y) at which time such Defaults and/or Events of Default shall be reinstated automatically.
II. Miscellaneous:
1. This Waiver is limited as specified and shall not constitute a modification, acceptance or waiver of any other provision of the Credit Agreement or any other Loan Document.
2. This Waiver may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which counterparts when executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. A complete set of counterparts shall be lodged with Holdings, the Borrower and the Administrative Agent.
3. THIS WAIVER AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF _________(PLACENAME).
4. In order to induce the Banks to enter into this Waiver, Holdings and the Borrower hereby represent and warrant that (i) no Default or Event of Default exists on the Waiver Effective Date (as defined below), after giving effect to this Waiver, and (ii) on the Waiver Effective Date, after giving effect to this Waiver, all representations and warranties contained in the Credit Agreement and in the other Loan Documents are true and correct in all material respects.
5. This Waiver shall become effective on the date (the "Waiver Effective Date") when (i) Holdings, the Borrower and the Required Banks shall have signed a counterpart hereof (whether the same or different counterparts) and shall have delivered (including by way of telecopier) the same to the Administrative Agent and (ii) the Borrower shall have paid to the Administrative Agent for the account of each Bank that executes and delivers a signed counterpart of this Amendment to the Administrative Agent on or before 5:00 p.m.(_________(PLACENAME) time) on October 5, 2001, an amendment fee equal to 15 basis points on the amount of each such Bank's Revolving Commitment as in effect on the Waiver Effective Date.
6. From and after the Waiver Effective Date, all references in the Credit Agreement and each of the other Loan Documents to the Credit Agreement shall be deemed to be references to the Credit Agreement after giving effect to this Amendment.
IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Waiver to be duly executed and delivered as of the date first above written.
AAA, INC. BBB, INC.
By:_________ By:_________
Name:_________ Name:_________
Title:_________ Title:_________

CCC, N.A., as Administrative Agent CCC, N.A., as a Bank
By:_________ By:_________
Name:_________ Name:_________
Title:_________ Title:_________

DDD, as a Bank EEE, _________(PLACENAME) BRANCH,as a Bank
By:_________ By:_________
Name:_________ Name:_________
Title:_________ Title:_________

Loan Commitment

This Loan Commitment is made and entered into effective _________,_________,_________(M,D,Y), by and between AAA, INC., a _________(PLACENAME)corporation, with its principal office and place of business at _________(ADDRESS) ("Company") and _________(herein "Lender").
1. Commitment to Lend. Lender hereby agrees to lend to Company the sum of One Million Dollars ($,_________) (the "Loan") or as much thereof as the Company requests be advanced to it by Lender while this commitment is in effect. Advances to the Company shall be made upon written request to the Lender, with such advance to be made within _________ hours of such request by wire transfer to the Company's bank account identified to Lender.
2. Availability of Loan. Lender and Company agree that the Loan shall be unconditionally available to be drawn upon by Company from _________,_________,_________(M,D,Y) to _________,_________,_________(M,D,Y), during which time Company may draw upon the Loan up to the maximum amount stated above. Provided, however, the Company's ability to draw on the Loan shall terminate upon the Company's receipt of proceeds from its planned initial public offering.
3. Commitment Fee, Interest and Repayment. Company shall pay to Lender a fee equal to 2% of the maximum loan amount, which shall be due and payable whether or not any advances hereunder are requested by Company, which fee shall be due and payable on the earlier of (i) the date of the first advance to the Company hereunder, or (ii) the date the Company receives the proceeds from an initial public offering of stock on the NASDAQ. Interest shall accrue on the outstanding advances at the rate of _________% per annum, with all interest and principal payable at maturity which is the earlier of: (i) _________,_________,_________(M,D,Y), or (ii) the date of the Company's receipt of proceeds from its planned initial public offering.
4. Warrants to Lender. As additional consideration to Lender, Company hereby grants to Lender a warrant to purchase for $,_________ per share, shares of the Company's common stock equal to [(i) the total amount of principal advanced to Company by Lender under this commitment divided by (ii) _________ Dollars ($,_________)] multiplied by _________. Such shares shall be subject to restrictions on transfer reasonably required by the Company for the purpose of completing the planned initial public offering. This warrant must be exercised by Lender on or before _________,_________,_________(M,D,Y), by written notice to the Company.
5. Notices. All notices and other communications given to or made upon any party hereto in connection with this Agreement shall be in writing and mailed, faxed, emailed, or delivered to the addresses set forth on hereof, or at such other address as shall be specifically designated by any such party.
6. Governing Law. This Agreement and the rights and obligations of the parties hereto and thereto shall be governed by and construed and enforced in accordance with the substantive law of the State of Nevada.
7. Entire Agreement. This Agreement constitutes the entire agreement and the understanding between the parties with respect to the subject matter hereof and supersedes all other previous and contemporaneous negotiations and agreements between the parties and no parole evidence of any prior or other agreements shall be permitted to contradict or vary the terms of this Agreement. Any amendment to this Agreement must be in writing.
8. Counterpart Execution. This Agreement may be signed by each party upon a separate copy, and in such case one counterpart of this Agreement shall consist of enough of such copies to reflect the signature of each party. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, and it shall not be necessary in making proof of this Agreement or the terms thereof to produce or account for more than one of such counterparts.
LENDER AAA, INC.
By:_________ By:_________
Name:_________ Name:_________
Title:_________ Title:_________

Loan Agreement

This is an agreement between AAA, Inc.("Company") and BBB("Stock Option Holder") dated _________,_________,_________(M/D/Y).
The Stock Option Holder wishes to exercise _________ option sahres as evidenced by the attached Election Form signed by the Stock Option Holder.
The Company agrees to advance the exercise price to the Employee in the amount of $,_________(_________)shares x $,_________ per share) referred to as "Loan".
The Stock Option Holder agrees to the following terms and conditions of the Loan.
1. The Company will hold the shares as collateral against the Loan.
2. The Stock Option Holder will pay interest on the Loan principal at an annual interest rate equal to the actual borrowing rate charged by First National Bank of Maryland to AAA, Inc. during the period the Loan is outstanding.
3. The Stock Option Holder will repay the Loan and accrued interest no later than the time that such shares are sold. In any event, the Loan will be callable at such time as the Stock Option Holder is freely able to dispose of such shares. Dividends distributed during the loan period would be credited to the Company and affset against interest due on the loan.
BBB
Signed: /s/_________
Date: _________,_________,_________(M/D/Y)

AAA, Inc.
Signed: /s/_________
Date: _________,_________,_________(M/D/Y)

Investment Property Mortgage Loans

Investment Property Mortgage Loans
VA Refinance. VA No Cost. 125% LTV Financing. Investment Property Loan ... West Mortgage has several excellent programs for financing investment properties. ...
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Investment Property Loan - Quicken Loans
All Mortgage Calculators. Refinance Calculators. Home Purchase Calculators ... Quicken Loans allows you to invest in properties with up to 3-4 units. ...
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Kansas Investment Property Mortgage Loan
Kansas investment property mortgage loan. Purchase or refinance. ... can often finance up to 10 properties (sometimes up to 20), however, those who ...
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Refinance Your Investment Property - Quicken Loans
Refinance Your Investment Property. Mortgage News from Quicken Loans brings you breaking home financing and home buying news, keeps you abreast of changing mortgage ...
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credit

Many mortgage companies are reluctant to finance people with bad credit or no money to put down. A bad credit mortgage lender helps people who have bad credit score, low income, etc. A bad credit mortgage lender helps you get your loan approved much faster than programs offered by credit unions and banks. But you have to pay the price to get a bad credit loan. The loan you get will carry a higher rate of interest and will have higher closing fees.It is advisable to check the rates with a few more bad credit lenders and compare. Even though you have to pay a higher rate, see that the one you settle at is reasonable and the most favorable. At present interest rates are low so try and get the best deal.You can always wait a while, improve your credit score and then get a loan at a low rate of interest. Some bad credit mortgage loans carry a pre-payment penalty, so make sure your loan doesn't have one. These bad credit mortgage loans have 6 months to 2-3 years pre-payment penalty. This means you have to pay huge sums of interest for at least 6 months before you can pay off the loan. If there is a pre-payment penalty you should take the loan that has the shortest term so that you can pay off the loan quickly without paying any penalty.To compare loan offers complete our short form above. MortgageLoan helps you find the best bad credit refinance loans, bad credit home equity loans, bad credit home purchase loans and bad credit debt consolidation loans.Getting a home loan with bad credit has actually never been easier than it is today. Here are some tips to help improve your chances of success:Find A Good Real Estate Deal – If you can find a property that has some equity in it when you purchase it, you may have an easier time getting financing on that property. To the lender it may be almost as good as if you had some kind of down payment on the property. Some lenders will consider the properties loan to value ratio when they consider the loan. Talk to your mortgage broker and see if this factor could help you get qualified.Try Creative Financing – See if the seller would be willing to carry back a second mortgage on the home. This is where you set up a contract or agreement with the seller that you will pay them monthly payments, including interest of, let’s say, $150/mo on $10,000 dollars of the price of the property, as a second mortgage. Then, to make it nice for the seller, perhaps put in the agreement that the entire amount is due in full within 2 years or something. That should give you plenty of time to refinance and then the seller doesn’t feel permanently locked into the contract.Save For A Down Payment – There are lenders who may be able to qualify you for 100% financing, even with low credit scores, but your interest rate will be much lower if you can put even 3-5% down. If possible, try to save as much as possible for a down payment. Sometimes it may be better to wait about 3-6 months to get into a new home loan if it means the difference of having a down payment. The interest rate could be quite a bit better because of that factor. However, if you don’t want to have a down payment, you can always refinance later for a lower interest rate.Almost every day, you're involved in some type of financial transaction requiring an educated decision. This site has information for you, whether you’re shopping for a mortgage or auto loan, checking the accuracy of your credit report, dealing with debt collectors, or looking for ways to protect your personal financial information.Credit is much more than a piece of plastic, and the resources on this site can help you become a more savvy consumer. You’ll also find compliance requirements for businesses, and information about the FTC’s recent law enforcement actions.

Sunday, July 13, 2008

Types of loans

1.Secured
A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan.
A mortgage loan is a very common type of debt instrument, used by many individuals to purchase housing. In this arrangement, the money is used to purchase the property. The financial institution, however, is given security — a lien on the title to the house — until the mortgage is paid off in full. If the borrower defaults on the loan, the bank would have the legal right to repossess the house and sell it, to recover sums owing to it.
In some instances, a loan taken out to purchase a new or used car may be secured by the car, in much the same way as a mortgage is secured by housing. The duration of the loan period is considerably shorter — often corresponding to the useful life of the car. There are two types of auto loans, direct and indirect. A direct auto loan is where a bank gives the loan directly to a consumer. An indirect auto loan is where a car dealership acts as an intermediary between the bank or financial institution and the consumer.
A type of loan especially used in limited partnership agreements is the recourse note.
A stock hedge loan is a special type of securities lending whereby the stock of a borrower is hedged by the lender against loss, using options or other hedging strategies to reduce lender risk.[citation needed]

2.Unsecured
Unsecured loans are monetary loans that are not secured against the borrowers assets. These may be available from financial institutions under many different guises or marketing packages:
credit card debt personal loans bank overdrafts credit facilities or lines of credit corporate bonds The interest rates applicable to these different forms may vary depending on the lender and the borrower. These may or may not be regulated by law. In the United Kingdom, when applied to individuals, these may come under the Consumer Credit Act 1974.

Personal loan contract

Contract serial number: Sign the contract unit:
Borrow funds the square( mortgage the person namely, call" the first party" as follows)
The square of the loan( namely mortgage the power person, call" the second party" as follows)
The existing first party borrows funds renminbi( capital letter) dollar toward the second party, useding for purchase, constructing to self-use the housing.Sell the building unit as × ×.In order to support A B both parties' benefits, distribute according to State Department of 《 borrow funds the contract regulation 》 the provision signs this contract, and obey the following item together.
A, A B the both parties are common to obey 《 officers and workers the housing collateral loan way 》 and various provision of its additional regulations and ordinances.
Two, the second party toward the loan that the first party provide, the first party can used for purchase, constructing to turn over to set up to self-use the housing only, can not move to make he use.
Three, the first party borrow funds to be rowed to go in to sell the building unit or the construction unit( turn over to set up the housing)s in the account that the second party draw by transfer by the second party.
Four, the first party with( mortgage the thing name) hand over the second party the mortgage that conduct and actions borrow funds.( mortgage after the thing laundry list attach)Mortgage the current value of the thing as ten thousand dollars, guarantee the liquidation that ten thousand dollars lend money.
Five, life of loan year, namely from year month day since go to the year month day.The lending rate is a monthly interest ‰ .
Six, borrow funds to adopt the principal method to return the capital and interest by the month, the first party must returned the loan toward the second party recently in every month, capital and interest dollar.
Seven, if meet the nation to unify adjust to save the lending rate, press nation the relevant provision to adjust the lending rate, depend on this certain recover capital invested the amount of money of pay interest monthly afresh.
Eight, loan period inside, the first party did not press time of this contract provision liquidation loan capital and interest, exceed the time limit a month in of, return along together while should compensate to lend money the capital and interest in the next month, the second party is not to the punishment, but above-mentioned circumstance a year can not exceed twice.Exceed the time limit more than a month or take place two in a year above overdue of, the second party has the power to press excess overdue number to take toward the first party everyday overdue sum thousand times it three of punish the interest.
Nine, if meet an of following circumstance, the second party has the power to carry on the processing towards mortgaging the thing.The processing mortgages the thing income income to arrive to button up the second party that the first party owe after the loan capital and interest and processings mortgage various expenseses that the thing cause, the surplus part sends back to the first party, and limit the first party according to the date move away the housing of used for the mortgage, the first party the place unit is responsible for not enough part in three months unconditional liquidation.
1.The first party at lend money to expect inside in six months don't according to the date return to lend money capital and interest or all loanses to expire after six months did not repay fully all loan capital and interests of;
2.The first party dies or posteds as missing or moves to the abroad in the contract term of validity, its heir apparent refuses not to continue to implement the first party to compensate the duty of lend money the capital and interest or have no the dint to continue to implement to compensate to lend money the capital and interest compulsory;
3.The first party breaches any item of this contract provision of.
Ten, return a guarantor( the first party the place unit) should the aggressive help the second party speed up the first party according to the date the liquidation borrows funds the capital and interest.At according to the date can't the first party return to borrow funds the capital and interest and mortgage the processing can't implement, return a guarantor and must be responsible for compensating the second party that the first party owe to borrow funds the capital and interest unconditionally.Return a guarantor receive the second party requests it a the first party compensates to borrow funds the capital and interest of circular after, should in return to borrow funds the capital and interest unconditionally and on behalf in three months.Three not yet return after month of, the second party has the power to button up to accept in the housing fund account or other accountses that bank draw from it 11, the first party is before did not repay fully all borrow funds the capital and interest, the first party lets the 渡 give the second party towards mortgaging all rightses that the thing possess, and can not make any processing that has the second party's benefits of 损 towards mortgaging the thing.
12, the first party needs to carry out the insurance towards mortgaging the thing, the insurance policy hands over the second party preservation, mortgage the thing if meet the accident derogation, the first party should be responsible for notifying the insurance company and the second party immediately, the indemnification gold of the insurance company should used for return to borrow funds the capital and interest first.If insurance indemnification the gold shortage borrows funds by return the capital and interest, shortage the part still the first party is responsible to return.
13, the second party should press the contract provision to carry out the loan, such as affect the first party to use the style because of the second party's reason, the second party should press the influence amount of money and numbers, paying equal to influence amount of money to the first party everyday thousand times it three of penalty fee.
14, any square nonperformance of both parties of A B originally the contract item, the both parties all have the power to press 《 code of civil procedures 》 the 158th regulation rule settles the performance.
15, this contract original a, the duplicate, from A B both parties and return a guarantor( the first party the place unit) three square the cover chapter combine through the legal person representative signature, notarize the place to notarize the young man effect, go to a day for the first party to repay fully all loan capital and interests of the second party since the expiration.
16, the complement item:
The first party's signature( chapter):
An address:
Give or get an electric shock the words:
The second party's signature( chapter):
An address:
Give or get an electric shock the words:
Return a the guarantor's( the first party the place unit) signature( chapter):
An address:
Give or get an electric shock the words:

some words for loans

Letter of Guarantee
A document issued by a bank, which acts as a guarantee of payment to a beneficiary for a specified period and up to a specified amount.

Legal Entity
A person or a company, which is legally allowed to enter into a contract and can be sued if the contractual obligations are not met.

Balance Sheet
A summary of a company's financial condition at a given point in time. Contains information on assets, liabilities, net worth, etc.

Cash Flow Statement
A detailed document showing all company income and expenses. Where income exceeds expenditure, the company has a positive cash flow.

Credit Line
An arrangement in which a bank offers to provide a specified amount of credit to a borrower for a certain period of time.　

what's loans?

1.
Loans are the most important part of a bank's income. Unlike deposits where the bank has to provide security and also provide compensation in the form of interest, a loan is a form of investment for the bank? Banks make the majority of their revenue by the difference between the deposit and loan interest rates. Loans may be important to a bank, however they carry the greatest risk. The main problem with loans is when they are given to customers that don't have the ability to repay them.

2.
A loan is a type of debt. All material things can be lent; this article, however, focuses exclusively on monetary loans. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower.
The borrower initially receives an amount of money from the lender, which they pay back, usually but not always in regular installments, to the lender. This service is generally provided at a cost, referred to as interest on the debt. A borrower may be subject to certain restrictions known as loan covenants under the terms of the loan.
Acting as a provider of loans is one of the principal tasks for financial institutions. For other institutions, issuing of debt contracts such as bonds is a typical source of funding. Bank loans and credit are one way to increase the money supply.
Legally, a loan is a contractual promise of a debtor to repay a sum of money in exchange for the promise of a creditor to give another sum of money.

loan example

This ia an example.

Dear Loan Section Head:
I’m writing this letter in applying a two-year loan of CNY 150,000 from your bank for opening a western cuisine restaurant. I’ve carried out a survey in the vicinity of our University and found that there is only one small café selling western-style foods within 4 square kilometers around here. The potential western food market is large as there are quite many westerners in our district and they have been calling for the setup of a western cuisine restaurant----- even the foreign professors and students have shown their eagerness for it. In addition, more local people has great interest in Beef Steak and Pizza, so we have sufficient customers. Most important of all. We have employed excellent cooks that can ensure the quality of the meal we supply. The loan money will be used in the inner decoration, utensil purchases and staff training. The family of my partner, Zhou Jiang and I support our plan and provide real estate of our two families that worth CNY 300,000 as guaranty.With such a bright prospective and strong supports, we have every reason to succeed in running the restaurant. Lead us the loan will prove a wise choice. Please consider our application seriously and we are looking forward to your response!
Sincerely yours,
Wang Fan

Saturday, July 12, 2008

share some loan information

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Economic life and loan information