Fast loans – LV Scots http://lvscots.org/ Sat, 04 Dec 2021 16:54:47 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://lvscots.org/wp-content/uploads/2021/10/icon-3-120x120.png Fast loans – LV Scots http://lvscots.org/ 32 32 The four players Man Utd signed alongside Nani and how they fared https://lvscots.org/the-four-players-man-utd-signed-alongside-nani-and-how-they-fared/ Sat, 04 Dec 2021 15:25:53 +0000 https://lvscots.org/the-four-players-man-utd-signed-alongside-nani-and-how-they-fared/ In the summer of 2007, Nani followed in Cristiano Ronaldo’s footsteps by joining Manchester United from Sporting Lisbon. Nani helped United win the brace in his debut season and the winger won four more Premier League titles, a Club World Cup and two League Cups in his seven seasons with the Red Devils. We took […]]]>

In the summer of 2007, Nani followed in Cristiano Ronaldo’s footsteps by joining Manchester United from Sporting Lisbon.

Nani helped United win the brace in his debut season and the winger won four more Premier League titles, a Club World Cup and two League Cups in his seven seasons with the Red Devils.

We took a closer look at the other four players the Red Devils signed alongside Nani ahead of the 2007-08 season.

Carlos Tévez

You won’t find many people in Old Trafford affectionately talking about Tevez, given the way he organized his departure.

But for this beautiful 2007-08 season, he was a crucial part of the deadliest top three in European football alongside Wayne Rooney and Cristiano Ronaldo. He quickly became a first-team starter after joining, having achieved incredible form in the second half of the previous season to help keep West Ham in the league.

Tevez was technically a loan signing, with United buying the right to register the Argentinian from a third-party organization that retained ownership (which ultimately led to his move to City).

Anderson

After receiving rave reviews for his performances on the Portuguese side of Porto, Anderson officially signed for United on the same day as Nani.

The Golden Boy winner had a good first season at United, taking his penalty kick in the Champions League final and becoming a willing agent of chaos alongside Sir Alex Ferguson.

Corn the midfielder was subsequently affected by a series of injury issues and failed to live up to his enormous potential.

He still remains a cult hero at Old Trafford, where his personality remained a staple in the dressing room until 2014, when he was loaned to Fiorentina and then returned to his native Brazil with the Internacional.

Owen Hargreaves

Another player ready to do any job asked of him, Hargreaves joined the Bundesliga squad from Bayern Munich in 2007.

While Ferguson may have said the English Canada-born midfielder was one of his most disappointing signings, it was more down to Hargreaves’ injury issues than his performances.

In his first season, he became an essential utility player capable of playing a variety of positions, starting the Champions League final as a wide midfielder and scoring his penalty kick in the shootout.

As mentioned, an injury hampered the rest of his time at Old Trafford, as he spent a lot of time on the treatment table until his release in 2011.

READ: Owen Hargreaves: Man Utd’s cursed but brilliant midfielder maestro

Tomasz kuszczak

The Polish keeper wasn’t quite a new face around Old Trafford, having arrived on loan from West Brom the previous season. He made his role as Edwin van ser Sar’s understudy permanent in the summer of 2007, however.

Kuszczak has had a mixed time at the club, never quite establishing himself as No.1 and only making 32 Premier League appearances before leaving in 2012.

But he still has three Premier League winners’ medals and also started United’s 2010 League Cup final victory over Aston Villa.


More from Manchester United

Nani, Man Utd and the unfair portrayal of ‘frustrating’ talent

A tribute to Anderson, Manchester United cult hero and great showman

Can you name Man Utd’s XI in the 2011 CL semi-final victory over Schalke?

Rooney-Ronaldo-Tevez: The incredible goal Man Utd almost scored in the CL final



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10 things investors should know about the plant-based food market https://lvscots.org/10-things-investors-should-know-about-the-plant-based-food-market/ Thu, 02 Dec 2021 18:03:24 +0000 https://lvscots.org/10-things-investors-should-know-about-the-plant-based-food-market/ What investors need to know about the plant-based food market Plant-based foods are gaining ground and quick. By 2030, the global plant-based food market is expected to reach $ 161.9 billion. It’s a 355% increase from 2021. Interested in investing in this growing industry? This chart from The Very Good Food Company (VGFC) highlights what […]]]>

What investors need to know about the plant-based food market

Plant-based foods are gaining ground and quick.

By 2030, the global plant-based food market is expected to reach $ 161.9 billion. It’s a 355% increase from 2021.

Interested in investing in this growing industry? This chart from The Very Good Food Company (VGFC) highlights what you need to know about the future of the plant-based food market.

1. Consumers are becoming more health conscious

As plant-based foods gain in popularity and more product options become available, consumers have started to become more selective about the types of products they are willing to buy.

For many consumers, health is a key factor when making purchasing decisions. A global survey found that out of 8,500 respondents, more than 50% were vegans for health reasons.

But just any herbal product will not cut it. Consumers are starting to force companies to meet stricter standards, expecting plant-based products to have high nutritional value, low salt, and good quality protein.

2. Consumers are becoming more socially aware

Consumers are also increasingly aware of environmental issues and how plant-based diets can help reduce greenhouse gas emissions. According to the same survey as above, almost two-thirds (64%) of respondents were vegans for environmental and sustainability reasons.

Some experts believe this figure will only increase as the impacts of climate change become more apparent across the world.

3. An influx of technological innovations based on plants

With growing consumer demand and changing expectations for the plant-based food industry, new technological advancements in this area are emerging rapidly.

For example, the cell culture meat market is rapidly gaining ground. Cell culture meat is meat that is grown in the laboratory from the cells of animals. It is biologically identical to traditional meat.

While cell culture meat has yet to reach the large-scale commercial market, several start-ups have gone public, such as MeaTech3D, Mosa meat, and Foods upside down. Recently, MeaTech announced its intention to start pre-production of cell culture chicken fat by 2022.

Over the next 20 years, the use of cell culture meat is expected to skyrocket. In fact, it could account for 35% of the global meat market by 2040, leading to a drastic drop in the market share of conventional meat.

4. Diversify the plant market

In addition to meat substitutes, other plant-based substitutes are also gaining popularity, especially egg substitutes and spreads. In 2020, sales of plant-derived eggs in the United States reached $ 27 million, an increase of 167.8% from the previous year.

Category Sales 2020 Annual growth
Vegetable eggs $ 27 million 167.80%
Vegetable milk $ 2.5 billion 20.40%
Vegetable cheese $ 270 million 42.50%
Spreads, dips, herbal sauces $ 61 million 83.40%

While egg substitutes and spreads grow rapidly, plant-based milk remains the most popular product category in terms of overall sales, accounting for 35% of the total plant-based food market.

5. Retailers grow plants

Retailers are starting to take notice of the growing popularity of plant-based products and are incorporating plant-based foods into their offerings as a result.

For example, Tesco, the UK’s biggest grocery brand, expects sales of herbal products to grow 300% by 2025. And Unilever, one of the world’s largest food and beverage manufacturers, plans to generate $ 1.2 billion in sales of plant-based meat and dairy products over the next five to seven years, or approximately 5x more than their 2020 turnover for alternatives.

6. Plant-based businesses grow rapidly

As the market is booming, many plant based food companies are experiencing significant growth. For example, The Very Good Food Company, a Canadian plant-based food company, saw its sales increase by 680% from the first quarter of 2020 to the first quarter of 2021.

During the same period, sales of VGFC products increased by 77%, and its e-commerce sales grew by 1744%. More growth is on the horizon as the company recently closed a $ 70 million loan agreement with Waygar Capital and Ninepoint Partners to help develop operations.

7. More and more consumers are becoming flexitarians

Not everyone switches to an all-plant lifestyle.

As the benefits of plant-based diets become more evident, more and more people are starting to limit their meat intake or have become flexitarians– people who eat mainly a plant-based diet, but occasionally eat meat or fish.

In fact, nearly a third of Americans have cut back on meat and dairy and consider themselves flexitarians.

Category % of survey respondents
Omnivorous 65%
Flexitarian 29%
Vegetarian 4%
vegan 2%

Being flexitarian is getting easier than ever, as plant-based products become more accessible and the taste of meat alternatives improves.

8. Restaurants are adopting more plant-based options

Due to consumer demand, restaurants are adjusting and creating more inclusive menus with various vegan, vegetarian, and dairy-free options for their guests.

A&W, a popular Canadian fast food restaurant chain, launched its plant-based burger in 2018. Due to its popularity, the restaurant is expanding its plant-based menu options by adding Beyond Meat nuggets to the menu.

9. Younger generations prioritize plant-based diets

The plant movement was largely driven by the younger generations.

In a survey of over 1,200 respondents, 22% of Millennials said they had adopted a vegetarian lifestyle at some point in their life, compared to just 13% generation X, and 11% baby boomers.

And many Millennials, even though not entirely plant-based, were trying to limit their meat intake.45% of Millennials surveyed said they are actively trying to reduce their meat consumption.

However, Gen Z is the driving force behind the herbal movement with 79% of them claim to eat herbal once or twice a week.

10. Governments support the herbal industry

Independent businesses aren’t the only players supporting the plant boom – governments are also stepping up to support this rapidly growing industry.

For example, the Canadian government recently announced its intention to invest $ 150 million in the plant-based food industry, signing an agreement with Protein Industries Canada. This funding will go to manufacturing plant-based foods, research and development, and technological innovation.

The future is green

There are many engines supporting the rapidly growing plant-based food industry, and for this reason, greater growth is expected in the near future.

Companies like VGFC are at the forefront of this movement, providing products that don’t sacrifice taste and aren’t highly processed.

Click here to learn more about VGFC and its wide range of products.


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US raises ceiling on government guaranteed mortgages to nearly $ 1 million https://lvscots.org/us-raises-ceiling-on-government-guaranteed-mortgages-to-nearly-1-million/ Tue, 30 Nov 2021 18:38:48 +0000 https://lvscots.org/us-raises-ceiling-on-government-guaranteed-mortgages-to-nearly-1-million/ The highest value of US mortgages eligible for federal government support has been raised to nearly $ 1 million, reflecting soaring house prices during the coronavirus pandemic. The Federal Housing Finance Agency said on Tuesday that the largest loan for single-family property in high-cost areas, including New York and Los Angeles, which can be purchased […]]]>

The highest value of US mortgages eligible for federal government support has been raised to nearly $ 1 million, reflecting soaring house prices during the coronavirus pandemic.

The Federal Housing Finance Agency said on Tuesday that the largest loan for single-family property in high-cost areas, including New York and Los Angeles, which can be purchased by government-sponsored mortgage lending agencies, Fannie Mae and Freddie Mac, will rise to $ 970,800 in 2022..

This is an 18% increase from the so-called compliant loan limit set in 2021. In most of the United States, the limit will increase from $ 548,250 to $ 647,200.

The increases will raise questions about whether Fannie and Freddie, who were taken over by the federal government during the subprime mortgage crisis, are helping fuel a furious rise in home prices.

FHFA data also released on Tuesday showed house prices rose 18.5% year-on-year in the third quarter of 2021, the highest all-time high in its quarterly series.

“Compared to previous years, the 2022 compliant loan limits represent a significant increase due to the historic appreciation in home prices over the past year,” said Sandra Thompson, FHFA Acting Director, in a statement.

The Housing and Economic Recovery Act 2008 requires that the baseline-compliant loan limit be adjusted annually to reflect changes in national house prices.

According to Walt Schmidt, who heads mortgage strategy at FHN Financial, the policy has “a bit of a self-fulfilling nature,” as higher house prices push the limit higher, which further supports the price hike.

“This increase in loan size really extends credit to borrowers in the new and expanded loan size compartment who may be a bit marginalized compared to a FICO.” [credit] mark the point of view, ”said Schmidt.

Fannie and Freddie guarantee much of the mortgages and have been under government supervision since 2008 when they were bailed out in the housing crash.

The Trump administration had offered to reprivatize Fannie and Freddie, but the effort ultimately failed.

The pandemic has propelled demand for larger suburban homes. U.S. home prices rose at a slightly slower pace in September, according to S&P CoreLogic Case-Shiller Index data released on Tuesday.

William Doerner, FHFA’s supervising economist in its research and statistics division, said that while prices rose “exceptionally fast”, market dynamics “peaked in July as month-to-month gains the other have moderated “.


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How will Oregon solve its growing affordable housing crisis? – Blogtown https://lvscots.org/how-will-oregon-solve-its-growing-affordable-housing-crisis-blogtown/ Fri, 26 Nov 2021 18:16:47 +0000 https://lvscots.org/how-will-oregon-solve-its-growing-affordable-housing-crisis-blogtown/ JESSE TISE In early November, Josh Lehner, an economist with the Oregon Bureau of Economic Analysis, delivered a simple message to the Home Builders Association of Metropolitan Portland: House prices in Oregon will continue to rise. Lehner’s presentation noted short-term problems in housing construction, such as labor and supply shortages, which are partly responsible for […]]]>

JESSE TISE

In early November, Josh Lehner, an economist with the Oregon Bureau of Economic Analysis, delivered a simple message to the Home Builders Association of Metropolitan Portland: House prices in Oregon will continue to rise.

Lehner’s presentation noted short-term problems in housing construction, such as labor and supply shortages, which are partly responsible for the slow pace of construction over the past year.

But he also highlighted long-term structural issues that confirm much of what many communities in different parts of the state have been feeling for years. Housing prices have become sky-high, competition for housing is fierce, and many workers are being excluded from their communities.

According to Lehner, none of this was impossible to see coming.

“Affordability is worse,” Lehner said. “Purchase prices are on the rise. This means you need a bigger down payment which means you need to save more income or take out a bigger loan so these barriers to entry into the housing market are worse today than they are. ‘they haven’t been… do with the fact that we have under-built housing. This is the root of the problem here.

Oregon has indeed failed to build enough housing to meet demand for decades. From around 1980, the state began to provide one housing unit per household, whether a family or a single person, to meet the housing needs of the state. But that plan did not take into account vacant homes, vacation homes, or the degradation of a certain percentage of homes over time.

Today, Oregon has the second lowest number of housing units per household in the country. Only Washington does worse.

The result is that the state does not have the number of homes available to meet current demand, let alone future. This is especially true in and around metropolitan areas like Portland and Bend, but it’s also true in rural areas, where demand also exceeds supply and Oregon homes are more expensive than the national average. .

Tenants have been hit hard. The same goes for the population looking to buy a home, which, given the relative youth of Oregon’s population, Lehner believes, will grow exponentially over the next decade.

To prevent its residents from leaving and provide them with the traditional financial security of home ownership, the state must build new homes quickly. A study conducted by consulting firm ECONorthwest on behalf of the state shows that Oregon needs more to build nearly 30,000 new homes per year for the next 20 years to meet demand.

According to these same figures, the state must build nearly 1,500 units per year in order to house its homeless population.

If Oregon can’t start building more homes quickly, it may face the same challenges California currently faces: the displacement of low- and middle-income residents and high barriers to residency for newcomers. potential, leading to a sharp decline in population and slower economic growth.

This population decline, documented in the 2020 census, means California will lose a representative in Congress next year and an electoral vote for the first time in its history. Oregon, meanwhile, will win a representative and an electoral vote due to its growing population, but if the state doesn’t build more homes, that growth will slow.

Generally speaking, there are two types of affordable markets in the United States. One is in places like the Rust Belt Midwest, where prices are low because demand is low. The other is in the southern Sun Belt region, where states like Texas are rapidly adding housing and population.

“Frankly, sprawl is one of the ways these Sun Belt subways get better production and affordability,” Lehner said. “Obviously that’s not the path Oregon and Washington are looking to take in terms of land use policies and the like, so what are you doing? “

Oregon has taken several decisive steps in recent years to facilitate the construction of new housing without urban sprawl, most notably in 2019, when Governor Kate Brown signed a bill championed by State Representative Tina Kotek requiring that cities with more than 10,000 inhabitants allow the construction of duplexes and quads in areas zoned for single-family homes.

This bill made Oregon the first state in the country to essentially ban zoned single-family neighborhoods in cities. California followed suit earlier this year.

The passage of this 2019 bill signaled a significant change in state housing policy, which the state legislature expanded this year by removing barriers for Oregon residents who subdivide the houses and build accessory housing units.

But the effects of these policy changes to increase housing density may not be fully apparent for years, and thousands of Oregonians today face housing instability.

“It will take several decades of building market-priced homes to bring the market back to an equilibrium where housing is generally more affordable,” said Mike Wilkerson, ECONorthwest partner and chief analyst. “The question becomes, in the meantime, what can the state do to help bridge this period?”

According to Wilkerson, the answer lies in direct, immediate and subsidized interventions such as housing vouchers and rent-controlled units that would help people access housing quickly. Federal aid, such as the Build Back Better Act, could help fund these kinds of interventions.

“These units are never built by the market and are never built except by the public sector,” Wilkerson said.

Still, if the state’s history is any indicator, there’s no guarantee that just building new homes will support all Oregonians alike.

“The last time we built a lot of housing, suburbs, a lot of people were left out,” said Stacie Sanders, director of policy and advocacy at Housing Oregon. “There were redlining and piloting and unfair lending practices, so I don’t know if we’ve ever seen in American history where everyone was included.”

As a result, real estate wealth in Oregon is disproportionately concentrated among white homeowners, and high homeownership prices make access to this wealth even more difficult for younger Oregonians and less privileged people who are trying to start a family and live in the state without significant family support.

“Generational wealth is enormous for many immigrants and refugees, as some may be newcomers, so posting a bond can be a huge thing,” said Cristina Palacios, Housing Justice program director at Unite Oregon. “It sometimes takes years to create this generational wealth to be able to become owners. But also when it comes to rentals, rents keep going up … and wages don’t go up.

Housing insecurity also intersects with broader issues like the climate crisis, with Oregon having experienced fires and heat in recent years that have claimed hundreds of homes and some their lives.

Support Portland mercury

“In Rogue Valley, one of the biggest challenges for affordable housing is that during the fires, many houses burned down. [down], and many community members are leaving the state because they cannot find housing anywhere, ”Palacios said.

As the climate crisis intensifies, the benefits and risks of homeownership may change. But for now, homeownership is still a gateway to the middle class, an investment many are eager to make.

The tension is that housing cannot be both a great investment and affordable, as scarcity is a major factor driving up home values. This has been great news for older Oregonians who own homes, but terrible news for those who don’t.

To a large extent, the future of the state depends on whether one views housing as an investment strategy or a moral imperative. Sanders has a clear position.

“Housing is a right for me. Everyone deserves safe, hygienic and healthy housing. Accessible to jobs and public transportation, and it’s climate friendly, ”said Sanders. “How do we get there? One step at a time.”


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Shant Banosian of guaranteed rate crosses $ 2 billion mark in total loan volume https://lvscots.org/shant-banosian-of-guaranteed-rate-crosses-2-billion-mark-in-total-loan-volume/ Wed, 24 Nov 2021 17:35:00 +0000 https://lvscots.org/shant-banosian-of-guaranteed-rate-crosses-2-billion-mark-in-total-loan-volume/ Banosian, the country’s top loan initiator in 2020 according to Mortgage Executive Magazine, made headlines in June when he broke his own record, funding $ 1 billion three months faster than last year. Situated at Massachusetts and licensed to come from all 50 states, Banosian has funded an impressive total career volume of over $ […]]]>

Banosian, the country’s top loan initiator in 2020 according to Mortgage Executive Magazine, made headlines in June when he broke his own record, funding $ 1 billion three months faster than last year.

Situated at Massachusetts and licensed to come from all 50 states, Banosian has funded an impressive total career volume of over $ 7 billion. Member of the prestigious Mortgage Global 100 2021, he was also recognized as one of the top 5 loan originators in the United States by Scottish Guide for six years, including two consecutive years at # 1. He was also the best guaranteed rate loan officer and the best producer of Massachusetts regularly since 2013.

“The big difference between this year and last year is our hyper-focus on closing quickly using our technology platform to make the customer experience even better,” said Banosian. “By putting our clients and real estate partners on the buying side in a position to win, we are able to serve more buyers in this very competitive market.”

A Massachusetts A native, Banosian graduated from Bentley University, where he met his wife, Kara. They currently live in Belmont, Mass., with their three daughters. He actively participates in charity events throughout his community, regularly raising funds for the Greater Boston Food Bank; leading one of the top five fundraising teams in the country for St. Jude Children’s Research Hospital; and remain actively involved with the Guaranteed Rate Foundation, a 501 (c) (3) organization that has provided more than $ 6 million directly to more than 1,500 people in need.

About guaranteed rate companies:

Guaranteed Rate companies include Guaranteed Rate, Inc., one of the top 5 retail mortgage lenders in United States, Affinity Guaranteed Rate, LLC and Appropriate Rate, LLC. Based at Chicago, Combined Guaranteed Rate Companies financed on $ 73 billion in 2020 and has more than 10,000 employees in more than 850 offices across United States. Founded in 2000 and established in all 50 states and Washington DCThe guaranteed rate has helped homeowners nationwide with home purchase loans and refinances. The company has established itself as an industry leader by introducing innovative technology, offering low prices and providing unparalleled customer service. In 2017, the company launched Guaranteed Rate Affinity, LLC, a mortgage origination joint venture between Guaranteed Rate, Inc. and Realogy Holdings Corp. (NYSE: RLGY), a world leader in residential real estate franchising and brokerage. In 2020, the company launched Proper Rate, LLC, a mortgage origination joint venture between Guaranteed Rate, Inc. and @properties, one of the nation’s largest residential brokerage firms. Collectively, the guaranteed rate companies have won numerous honors and awards, including: Forbes Advisor’s Top 10 Mortgage Lenders for 2021; Best Mortgage Lender for Online Loans and Best Mortgage Lender for NerdWallet Refinancing for 2021; 2018 Best Lender for Online Service by US News & World Report; HousingWire’s 2020 Tech100 Award for Industry Leading FlashCloseSM Technology; # 3 in The Scotsman’s Guide to the Best Retail Mortgage Lenders for 2021; Lender of the Year by Chicago Agent Magazine for six consecutive years; and the Chicago Tribune’s list of the best places to work for seven consecutive years. Visit rate.com for more information.

SOURCE Guaranteed Rate

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Restaurant Groups Make Strategic Decision To Leverage More SBA EIDL Loan Fund https://lvscots.org/restaurant-groups-make-strategic-decision-to-leverage-more-sba-eidl-loan-fund/ Sun, 21 Nov 2021 03:00:00 +0000 https://lvscots.org/restaurant-groups-make-strategic-decision-to-leverage-more-sba-eidl-loan-fund/ SAN FRANCISCO, CA / ACCESSWIRE / November 20, 2021 / The Small Business Administration (SBA) shut down the Restaurant Revitalization Fund (RRF) program almost as quickly as it opened it. Due to high demand, restaurants submitted 278,304 SRR requests for a total of $ 72,233,280,031. Only a small percentage of these restaurateurs have received funding. […]]]>

SAN FRANCISCO, CA / ACCESSWIRE / November 20, 2021 / The Small Business Administration (SBA) shut down the Restaurant Revitalization Fund (RRF) program almost as quickly as it opened it. Due to high demand, restaurants submitted 278,304 SRR requests for a total of $ 72,233,280,031. Only a small percentage of these restaurateurs have received funding. A total of 101,004 restaurants received $ 28,574,979,472 in EIDL funds. This has left many other restaurant owners, restaurateurs and managers scrambling for what to do next, especially restaurant groups and chains with multiple owned locations.

Ownership of a restaurant cluster was approved for an SBA EIDL disaster loan after missing the RRF program. Image Credit: 123rf / Wavebreak Media Micro.

“Restaurants are one of the hardest hit industries throughout the pandemic. Restaurant groups that have many locations face multiple times the stress and headaches with each location. Even locations that are lucky enough to have many locations. to increase their income during COVID, still face labor and supply chain issues. More income comes with a higher cost to do business, “said Marty Stewart , Strategy Director of Disaster Loan Advisors (DLA).

DLA is a strategic consulting SBA credit counseling firm which specializes in assisting restaurant groups and property with multiple location entities, to help navigate each restaurant / retail location for maximum EIDL qualification. Locations that have received previous SBA EIDL loans that require an increase or modification (up to $ 2 million maximum), as well as EIDL loan review requests for locations that have been denied.

“In some cases, we have CEOs, CFOs, or COOs from restaurant groups or national chains coming to us with many sites that need help. Some need increases, others need reconsideration. The EIDL loans, but were then turned down for an increase in EIDL, ”Stewart continued.

Restaurant groups, national chains and franchise locations Next strategic move

With the RRF closure On July 2, 20201, initially enacted by President Joe Biden as part of the US bailout, the program provided much needed economic aid to restaurants and other establishments struggling to make ends meet due to the pandemic.

Unfortunately, with only 37% of restaurant applicants receiving RFF funding, many other restaurant owners, restaurant groups, executives and managers with multiple locations found themselves scrambling to make up for losses by location across the board. industry.

The SBA will continue to provide economic aid to help restaurants recover from critical aid through programs such as Economic Disaster Loans. [EIDL].

“The most strategic decision that can be made in trying to get more EIDL funds for each restaurant location is to file broad requests for reconsideration and / or increase demands, depending on the situation of the location of each restaurant. And by bulky I mean long enough letters that tell the whole story of each place, and back it up with facts and documentation. The point is to get a yes, ”said Stewart.

Previous Restaurant Revitalization Fund (RIF) program details

The average size of RRF scholarships awarded to restaurant applicants was $ 283,000:

  • 2.2 percent of dollars approved for $ 50,000 and under
  • 4.9% of dollars approved for $ 50,000 to $ 100,000
  • 5.6 percent of dollars approved for $ 100,000 – $ 150,000
  • 21.2 percent of dollars approved for $ 150,000 – $ 350,000
  • 27.2% of dollars approved for $ 350,000 to $ 1M
  • 16.4 percent of dollars approved for $ 1 million – $ 2 million
  • 18.0 percent of dollars approved for $ 2 million – $ 5 million
  • 4.6 percent of dollars approved for $ 5-10 million

As Congress pointed out, restaurants and bars were eligible for economic aid equal to their lost revenue from the pandemic, with a cap of $ 10 million per business and $ 5 million per location.

Groups of restaurants with multiple locations and other food and beverage related entities

According to SBA guidelines, qualifying business entities that have suffered loss of revenue from the pandemic include:

  • Restaurants
  • Food stalls, food trucks, food carts
  • Caterers
  • Bars, saloons, lounges, taverns
  • Snacks and soft drink bars
  • Bakeries (on-site sales to the public represent at least 33% of gross receipts)
  • Brewpubs, tasting rooms, taprooms (on-site sales to the public represent at least 33% of gross receipts)
  • Breweries or microbreweries (on-site sales to the public represent at least 33% of gross receipts)
  • Cellars and distilleries (on-site sales to the public represent at least 33% of gross receipts)
  • Hostels (on-site food and beverage sales to the public account for at least 33% of gross receipts)
  • Facilities or licensed premises of an alcoholic beverage producer where the public can taste, taste or purchase products

How Catering Groups Can Use Economic Disaster Loan (EIDL) Funds For Their Restaurants

With recent changes to the EIDL program, SBA has relaxed guidelines on how restaurants and other related businesses can use loan funds. The new expanded guidelines for specific expenses include:

  • Company salary costs (including sick leave)
  • Payments on any commercial mortgage bond
  • Commercial rent payments (this does not include prepayment of rent)
  • Company debt service, both principal and interest (this does not include any prepayment of principal or interest)
  • Business utility payments
  • Business maintenance costs
  • Outdoor seating construction
  • Commercial supplies (including protective equipment and cleaning products)
  • Food and beverage expenditure by businesses (including raw materials)
  • Supplier costs covered
  • Business operating expenses

Restaurant Groups and Restaurant Owners SBA Cross-Program Eligibility on EIDL COVID-19 Relief Options

According to the SBA, inter-program eligibility is as follows:

EIDL COVID-19 Candidate

  • May apply for an EIDL and then submit requests to increase funds for that same loan.
  • May request EIDL and RRF.

EIDL COVID-19 beneficiary

  • May apply for an EIDL and then submit requests to increase funds for that same loan.
  • May request EIDL and RRF.

Applicant for the Restaurant Revitalization Fund (FRF)

  • May request EIDL and RRF.
  • The same company cannot apply for the RRF more than once.

Recipient of the Restaurant Revitalization Fund (FRF)

  • May request EIDL and RRF.
  • The same company cannot apply for the RRF more than once.

National Restaurant Association Restaurant Industry Snapshot

The National Restaurant Association (Restaurants.org) released recent industry statistics and national statistics on the impact of the pandemic on the size and scope of the U.S. restaurant industry as a whole.

Overview of the restaurant industry:

  • $ 659 billion: restaurant industry sales in 2020, down $ 240 billion from expected levels
  • 12.5 million: restaurant workers at the end of 2020, down 3.1 million from expected levels
  • 110,000: restaurant locations temporarily or permanently closed
  • 9 out of 10 restaurants have less than 50 employees
  • 7 out of 10 restaurants are single unit operations
  • 8 out of 10 restaurateurs started their careers in the industry in entry-level positions
  • 9 in 10 restaurant managers started entry-level positions
  • Restaurants employ more minority managers than any other industry

The National Association of Restaurateurs is the world’s largest professional catering association. The organization represents and defends the interests of more than 500,000 catering companies.

“With over 110,000 restaurants no longer operating due to COVID, we are keen to work with restaurant groups that have multiple locations to help them get the much-needed additional financial assistance from the EIDL Loan Program to Help to save each of their locations from becoming a statistic, ”said Stewart.

About Disaster Loan Advisors ™

Disaster Loan Advisors™ is a team of trusted professionals dedicated to saving small businesses and businesses from lost sales, lost customers, lost revenue and saving your business from potential financial ruin from this COVID-19 / Coronavirus disaster, and the recent Hurricane Ida 2021 declared a disaster.

DLA specializes in assisting ownership groups with multiple business entities, multiple restaurants and retail groups, and other complex situations that require expert intervention to assess the situation and create the best path. strategic to follow.

Has your small business or business suffered financial losses due to COVID, Hurricane Ida, or other natural disaster? Has your SBA loan application been refused for an EIDL loan? Are you looking to increase your existing SBA EIDL loan (up to $ 2 million) Need some strategic advice before taking your next step?

CONTACT:

Disaster Loan Advisors
Elena goldstein
Director of Media Relations
877-463-9777 ext 3
elena.goldstein@disasterloanadvisors.com

Connect with Disaster Loan Advisors via Social Media:

Linkedin, Facebook, Instagram, Twitter, and CrunchBase.

For a strategic exploratory conversation, schedule a free consultation call by visiting:

https://www.disasterloanadvisors.com/contact

THE SOURCE: Disaster Loan Advisors

See the source version on accesswire.com:
https://www.accesswire.com/673937/Restaurant-Groups-Strategic-Move-to-Tap-More-SBA-EIDL-Loan-Funds


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Hostility to the real estate private equity push is wrong https://lvscots.org/hostility-to-the-real-estate-private-equity-push-is-wrong/ Fri, 19 Nov 2021 04:16:24 +0000 https://lvscots.org/hostility-to-the-real-estate-private-equity-push-is-wrong/ 20 November 2021 “VOUTSIDE ULTURESRead one of the many placards held up by young demonstrators at a recent rally in Dublin. The cause of their anger was skyrocketing rents in the Irish capital, pushed up as the fastest growing house prices in years made renting more attractive. The feeling is spreading. Private equity firms, insurance […]]]>

“VOUTSIDE ULTURESRead one of the many placards held up by young demonstrators at a recent rally in Dublin. The cause of their anger was skyrocketing rents in the Irish capital, pushed up as the fastest growing house prices in years made renting more attractive. The feeling is spreading. Private equity firms, insurance companies, pension funds and other institutional investors who grabbed residential real estate during the pandemic are becoming the target of resentment in wealthy countries. As their share of the residential real estate market has grown, so has the backlash. Some blame the big landlords for soaring rents. Others accuse them of exploiting the crisis for profit.

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Policymakers were quick to respond. The White House wants to restrict the types of properties that large investors are allowed to buy. New Zealand removed tax breaks for real estate investors and Ireland imposed a 10% wholesale home purchase tax. Canada’s central bank says the role big investors play in housing needs further examination. In Germany, the people of Berlin voted in September to force their city’s biggest landlords to sell more than 200,000 apartments to the state, although the referendum was not binding and the Constitutional Court is expected to overturn the result if it becomes law. Spain’s left-wing government is the latest to take action to deal with the big landowners. Under new proposals, they will face rent controls, higher taxes on empty properties and a ban on buying social housing.

From this hubbub, you might think that professional owners are gobbling up the market. In fact, their share remains modest. In America, investors only own 2% of rental housing. Across Europe, listed funds hold less than 5%. In Spain, reviews have focused on Blackstone, the country’s largest residential landlord. After entering the market eight years ago, the private equity giant now owns 30,000 homes. Yet this is only 1% of the total stock.

There is no doubt that big investors have big ambitions. Single-family homes and apartments built for rental have become a lucrative business. Other Wall Street companies such as KKR and Goldman Sachs are also piling up in the market, and they build as well as they buy. By some estimates, they account for over 6% of new homes in America each year. Across Britain, institutional investors are expected to provide one-tenth of the government’s housing target over the next few years. Since 2018, they have built almost a quarter of new homes in Liverpool and over 15% in Nottingham, Leicester and Sheffield.

This injection of capital should be welcomed and not despised. Investors want to make money, of course, but they see a void in the market that needs to be filled and they are doing something about it. The demand for rental housing has never been higher. In Great Britain, less than one in ten dwellings was rented in the mid-1990s. The share is now closer to one in five. One third of households in America are rented. Falling homeownership rates in the rich world mean that decent quality housing in the private rental market is more in demand than ever. However, rentals are precarious and the supply of rental housing has failed to meet demand. A number of countries face chronic shortages. The national rental vacancy rate in Canada in 2020 was 3%. In parts of Australia it is less than 1%.

The influx of institutional money into the rental market comes at a critical time. The city centers are full of empty buildings, because of the pandemic. This created the possibility of expanding the dwellings by converting them. However, this will require not only an overhaul of the town planning rules, but also a lot of money to pay for the construction works. Cities like New York show what is possible. The big investors out there have been turning their offices into homes for years. As a result, some 60,000 people live in Lower Manhattan today, up from just 14,000 in the mid-1990s. The City of London estimates it will have room for an additional 1,500 homes by 2030.

The crux of the matter is the lack of supplies in places where economic opportunities are greatest. Some say the answer lies in higher interest rates or macroprudential tools, such as restrictions on how much banks can lend. These policies would temper the growth in demand and prices, but would not bring the economic benefits of the growth of prosperous cities. Some favor loan programs for first-time buyers, but these only inflate house prices, failing both buyers and taxpayers. Simple solutions such as relaxing planning laws can be politically poisoned. Britain appears to have put aside a town-planning reform proposal that would have encouraged housing construction.

Rather than relying on gadgets, countries need to get out of the crisis. That’s why, instead of caricaturing the big money like barbarians at the garden gate, decision-makers should prepare the welcome mat.

This article appeared in the Leaders section of the print edition under the title “Barbarians at the Garden Gate”


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Michigan schools are closing due to understaffing. Get used to it. https://lvscots.org/michigan-schools-are-closing-due-to-understaffing-get-used-to-it/ Tue, 16 Nov 2021 23:22:14 +0000 https://lvscots.org/michigan-schools-are-closing-due-to-understaffing-get-used-to-it/ At rural public schools in Allegan Hopkins County, south of Grand Rapids, classes were canceled for two days last week, while at huge public schools in Ann Arbor, one or more buildings were closed six times since the start of fall classes. Related: Michigan schools close or become remote for days, often without notice. And […]]]>

At rural public schools in Allegan Hopkins County, south of Grand Rapids, classes were canceled for two days last week, while at huge public schools in Ann Arbor, one or more buildings were closed six times since the start of fall classes.

Related:

Michigan schools close or become remote for days, often without notice. And while COVID-19 infections continue to play a role in these closures, the main problem appears to be the same one plaguing corner cafes and factories across the state: a shortage of workers.

Some districts do not have enough bus drivers to bring students to schools. Others cannot find enough teachers and substitute teachers to lead classes.

Bridge Michigan has spoken to principals about staff shortages. None were optimistic about finding a quick fix to a crisis that had been brewing for years.

“It’s like you’re hanging on a string and the string is losing threads,” said Adam Zemke, president of Launch Michigan, a schools advocacy group. “COVID was the breaking point. “

Here’s what many had to say about the factors at play:

Are school closures increasing?

The official tally of closures won’t be known until the end of the school year, when districts submit reports to the Michigan Department of Education. But there is a consensus among school leaders that the closures have exploded.

As of Nov. 12, the Michigan Association of School Administrators had an unofficial tally of 21 school districts that have closed at least one building since September due to staff shortages. Most closures last a few days. Southfield is an exception and is technically not a closure. In early November, it switched to a four-day in-person schedule, with students learning at home on Fridays. The change was made in response to staff shortages.

According to Fox 2 Detroit Television, an email to parents in Southfield stated that “Stressors on families and educators, including labor shortages, increased seasonal illnesses and disruptions in the food supply chain “had created” a less than optimal learning environment “.

These closures do not include the thousands of students – sometimes a classroom or an entire building at a time – who have had to stay home due to coronavirus outbreaks.

Why is this a problem now?

Principals who spoke to Bridge reported long-term systemic issues. Teachers retired at a higher rate during the pandemic, as fewer students graduate in education (a problem years before COVID hit), creating teacher shortages, especially in some specialties such as special education.

“The combination of early retirements, low enrollment in the teacher preparation program, and high burnout among educators who choose to leave the profession has created a perfect storm for school staff.” said Doug Pratt, director of public affairs for the Michigan Education Association, the state’s top teacher. union.

But that doesn’t explain why staff shortages are so much worse this fall than in recent years.

This reason has less to do with Michigan’s long-term teacher shortage than with the lower-paid workers who run the schools. This is a problem familiar to many Michigan businesses.

There are 190,000 fewer people in the workforce in Michigan than in February 2020, before the pandemic hit the state.

This means that those who are still in the workforce have many more options, and substitute teachers, bus drivers, and school cafeteria workers generally haven’t made much money. Before the pandemic, substitute teachers, for example, earned around $ 100 a day in many districts, and paraprofessionals – also known as class assistants – only earned $ 13 an hour.

“We’ve been facing a shortage of educators for years, but the pandemic has definitely made it worse,” Pratt said. “Without proper submarines, it doesn’t take much of an outbreak of COVID or any other disease for it to be impossible to safely staff a school building. Bus drivers, paraprofessionals, food service workers – we see shortages in all areas of education employment.

With some fast food restaurants now paying $ 15 an hour, school jobs were less attractive.

Is a few days outside of school important?

If a restaurant can’t find enough cooks and servers, it can lock the doors a few hours earlier than it once did or close on Mondays, and the impact on the community as a whole is relatively minor. But when the local elementary school can’t operate a bus because the drivers left to make more money driving for Fed-Ex, there is a huge ripple effect, said Rob Fowler, CEO of the Michigan Small Business Association.

Fowler said he often hears of businesses crippled by stay-at-home workers due to school closures.

“If there is a shortage of bus drivers or whatever, it disrupts the employees, which disrupts businesses,” Fowler said. “I’ve never seen it this way, where every industry everywhere” lacks employees.

The school impact of a few days outside the classroom can be quite minor for students who, after the last school year, are used to distance learning. But the impact can be significant for special education students and their families.

School closures are “absolutely horrible when it comes to my son with special needs,” said Jess Ronne, the mother of a severely disabled 17-year-old. His son, Luke, was out of school for more days than he was in September and October due to multiple incidents of close contact with someone who tested positive for COVID-19 and the unstaffed school to work with him.

“He’s not able to do virtual (learning) so basically he’s uneducated” when he’s not in school, Ronne said. “My husband and I have worked hard to change our working hours (but) I don’t have time to educate him, I work, I try to support our family.

What is the solution ?

Governor Gretchen Whitmer has offered financial incentives to recruit and retain teachers. These incentives include service scholarships and loan waivers for teachers who commit to stay in their school district for a certain number of years.

State Superintendent Michael Rice presented similar recommendations to the State Board of Education this month, which would cost between $ 300 million and $ 500 million over five years. Rice’s plan would include reimbursement of tuition fees for students in education programs.

Launch Michigan has its own plan to address the state’s teacher shortage, which includes creating ways for paraprofessionals to move on to become teachers.

Launch Michigan recognizes that it could take “years, even decades” to eliminate teacher shortages. And none of the plans address the current critical shortages of non-teaching staff, like bus drivers.

What shall we do now? Are there short term answers?

The only quick fix to staff shortages is for school districts to open their check books, and some do.

Mona Shores Public Schools, south of Muskegon, are offering a signing bonus of $ 2,500 for new bus drivers and a search fee of $ 500 for district employees who recommend a new driver. In Oakland County, Huron Valley Schools is offering a signing bonus of $ 600 to new bus drivers.

But even financial incentive programs have drawbacks – school officials say large signing bonuses in one school district sometimes attract workers from neighboring schools, only rearranging staff shortages from district to district. ‘other.


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5 companies owned by CCL https://lvscots.org/5-companies-owned-by-ccl/ https://lvscots.org/5-companies-owned-by-ccl/#respond Thu, 11 Nov 2021 22:00:56 +0000 https://lvscots.org/5-companies-owned-by-ccl/ Carnival Corp. (CCL) is a global cruise line. It operates as a dual-listed company with Carnival Plc (CCL.L), but the two separate legal entities operate as a single economic entity through contractual agreements. CCL shares are traded as on the New York Stock Exchange (NYSE) while CCL.L shares are traded on the London Stock Exchange […]]]>

Carnival Corp. (CCL) is a global cruise line. It operates as a dual-listed company with Carnival Plc (CCL.L), but the two separate legal entities operate as a single economic entity through contractual agreements. CCL shares are traded as on the New York Stock Exchange (NYSE) while CCL.L shares are traded on the London Stock Exchange (LSE). The company offers cruises through a range of brands that operate in various geographic locations in North America, Europe and Australia. Its brands cater to different price points, lifestyles and cultures as well as entertainment and vacation preferences. Carnival recorded a net loss of $ 10.2 billion on revenue of $ 5.6 billion in fiscal year (FY) 2020, which ended November 30, 2020. CCL’s market capitalization was $ 27.4 billion and that of CCL.L was £ 18.8 billion ($ 25.2 billion) as of November 10, 2021.

Carnival’s leading brand is Carnival Cruise Line, which was founded in 1972 by entrepreneur Ted Arison. Carnival Cruise Line was originally formed as part of a subsidiary of American International Travel Service (AITS). The company started with a single second-hand transatlantic liner which it transformed into a cruise liner and renamed Mardi Gras. In 1974, Arison bought Carnival Cruise Line for $ 1 and assumed AITS debt of $ 5 million. At this point, the cruise line was still a small operator struggling to survive. But it managed to grow steadily in size and popularity, and went public in 1987 through an initial public offering (IPO). The money raised during the IPO provided the company with the capital it needed to continue its expansion through acquisitions. The company, which was renamed Carnival Corp. in the early 1990s, has since built a portfolio of globally recognized cruise brands. Below, we take a closer look at five of these brands.

Holland America Line NV

  • Type of activity: Cruise company
  • Acquisition price: $ 625 million
  • Acquisition date: November 1988 (announced)

Holland America Line has its origins in the founding of a shipping and passenger company called the Netherlands-American Steamship Co. in 1873. For the first 25 years since its founding, the company had a fleet of six cargo and passenger ships. which it operated between Holland and the Dutch East Indies. The company would become known over time as Holland America Line due to its headquarters in the Dutch city of Rotterdam. In 1989, Carnival Cruise Line officially acquired the company, further strengthening its position as the largest cruise line in terms of passenger numbers. Holland America Line now operates a fleet of 10 vessels sailing to more than 425 ports in more than 100 countries.

Seabourn Cruise Line Ltd.

  • Type of activity: Ultra-luxury cruise line
  • Acquisition price: $ 15 million (initial 25% stake); $ 10 million (additional 25% participation); amount unknown (remaining 50% stake in 1998)
  • Date of acquisition: 1992 (25% of the capital); 1995-1996 (25% of the capital); 1998-1999 (remaining 50% stake)

Seabourn Cruise Line was founded in 1988 with the launch of the 208-passenger Seabourn Pride. The idea for the cruise line was born two years earlier among a small group of luxury hospitality and cruise executives looking to reinvent luxury cruising. When Seabourn Pride was first launched, it offered: spacious rooms with all suites; public spaces designed for relaxed socialization; and a stern designed as a private seaside resort. Just four years later, in 1992, Carnival agreed to purchase a 50% stake in Seabourn through two separate ten-year loans of $ 15 million and $ 10 million. With the $ 15 million loan, Carnival acquired an initial 25% stake in Seabourn. The second loan of $ 10 million guaranteed an additional 25% stake at the end of 1995. In 1998, the company purchased the remaining 50% interest in Seabourn. At the same time, Carnival acquired Cunard Line Ltd. and combined it with Seabourn. Today, Seabourn operates a fleet of three 458 passenger ships and two 600 passenger ships providing ultra-luxury cruising experience to more than 400 destinations around the world.

Costa

  • Type of activity: Cruise company
  • Acquisition price: approx. $ 141 million (for an initial 50% stake), part of the joint purchase price of $ 270 million with Airtours Plc; about. $ 515 million (remaining stake)
  • Date of acquisition: 1997 (initial participation of 50%); 2000 (remaining participation)

Costa made his first voyage from Genoa to Buenos Aires in 1948 with a transatlantic liner named “Anna C”. In the 1960s, the Italy-based company was Europe’s largest cruise line. Costa was jointly acquired in 1997 by Carnival and Airtours, each of the two companies purchasing a respective 50% stake. Three years later, Carnival bought the remaining stake in Costa from Airtours for approximately $ 515 million. The acquisition of Costa strengthened Carnival’s presence in the fast-growing European market. Costa is now the parent company of Costa Cruise Lines and AIDA Cruises. Today, Costa operates a fleet of 10 vessels and visits over 260 ports around the world. AIDA is the leader in the German speaking cruise market and currently operates a fleet of 14 cruise ships.

Cunard Line Ltd.

  • Type of activity: Luxury cruise line
  • Acquisition price: $ 500 million (initial 68% stake); $ 205 million (remaining stake)
  • Date of acquisition: 1998 (initial stake of 68%); 1999 (remaining 32% stake)

The Cunard Line was founded in 1840 by veteran and lumber merchant Samuel Cunard. It began by providing postal services in Canada’s maritime region before expanding its services across the Atlantic and establishing itself as an international shipping company. During the 1880s, Cunard transported over a million of the 2.5 million people seeking to settle in the United States. The business continued to grow and develop over the next century. Cunard operated five luxury cruise ships in 1998, the year Carnival and a group of investors bought its operating assets for $ 500 million. Carnival acquired a 68% stake in the cruise line and consolidated it with Seabourn, whose company had simultaneously purchased the remaining stake. In 1999, Carnival purchased the remaining 32% stake in Cunard in a deal valued at $ 205 million. The purchase of Cunard, the world’s largest luxury cruise operator at the time, made Carnival the world’s largest cruise line. Cunard currently operates three luxury cruise ships.

P&O Cruises

  • Type of activity: Cruise company
  • Acquisition price: approx. $ 7.3 to $ 7.8 billion
  • Acquisition date: April 2003

P&O Cruises was founded in 1837 as Peninsular & Oriental Steam Navigation Co. While the company started out primarily with courier transport, it went on to offer its first leisure cruise from London to the Mediterranean in 1844. The cruise would gradually become a more regular activity in the mid-1880s. In 2003, the company’s cruise business, known as P&O Princess Cruises Plc, was acquired by Carnival for between $ 7 billion and $ 8 billion. The acquisition included Princess Cruises, P&O Cruises, P&O Cruises Australia and tour operator Princess Tours. The merger between the two companies led to the formation of the double-listed company – Carnival Corp. and Carnival Plc – discussed in the introduction above. This made Carnival the number one cruise line in the world. Today, Carnival operates P&O under two separate brands: P&O Cruises (UK), which operates a fleet of five premium vessels; and P&O Cruises (Australia), which operates a fleet of three vessels.


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Solidus Labs Raises Additional $ 15 Million As Crypto Risk Monitoring Tools Take Off – TechCrunch https://lvscots.org/solidus-labs-raises-additional-15-million-as-crypto-risk-monitoring-tools-take-off-techcrunch/ https://lvscots.org/solidus-labs-raises-additional-15-million-as-crypto-risk-monitoring-tools-take-off-techcrunch/#respond Tue, 09 Nov 2021 17:21:52 +0000 https://lvscots.org/solidus-labs-raises-additional-15-million-as-crypto-risk-monitoring-tools-take-off-techcrunch/ Solidus Labs, a four-year-old New York-based company that claims its monitoring and risk monitoring software can detect manipulation on cryptocurrency trading platforms, raised $ 15 million in additional funding just six months after. having closed his Series A round with $ 20 million in funding. Liberty City Ventures led the most recent tranche, joined by […]]]>

Solidus Labs, a four-year-old New York-based company that claims its monitoring and risk monitoring software can detect manipulation on cryptocurrency trading platforms, raised $ 15 million in additional funding just six months after. having closed his Series A round with $ 20 million in funding. Liberty City Ventures led the most recent tranche, joined by Exor Seeds and crypto trading firm GSR.

We sat down last week with the company’s co-founder and CEO, Asaf Meier, who started the company with several former colleagues at Goldman Sachs, who worked with Meier on the company’s electronic trading desk and quickly realized that a lack of compliance tools would be a barrier to the adoption of cryptocurrencies by large financial institutions.

Unsurprisingly, Meier said that since the announcement of this round, the company has “been hammered with different perspectives coming in.” While at the start of the year, Solidus mainly worked with exchanges, brokers, over-the-counter offices, liquidity providers and regulators – anyone at risk of buying and selling digital assets – this pool exploded quite quickly thereafter.

Specifically, he said Solidus has heard more and more from players who have ties to – and concerns about – the world of DeFi, or decentralized finance, made up of all kinds of non-depository financial products, including (according to Meier’s words) “Automated market-making liquidity pools, lending networks, indices, stablecoins – there is a lot of demand coming from different directions. “

Why is this a new bucket of interest for Solidus Labs? Because it is full of risks. Meier cites “carpet draws” and “sandwich attacks”, front running and “flash loan attacks”, and he observes that these are “just the tip of the iceberg”. And while he declines to name Solidus’ clients (which would reveal a lot about who is most concerned with this experimental space), he notes that while “DeFi does not address widespread concerns about market integrity and consumer protection, it will not be able to deliver on its promise of better financial opportunities.

Solidus is not alone in trying to help its customers identify and anticipate fraud. After all, every financial market is a target, and cryptocurrency markets are in many ways more vulnerable as there are still relatively few regulations governing them.

This chaos led to the rise of Chainalysis, a seven-year-old company whose blockchain analysis software reports regulatory risks for cryptocurrency exchanges, government agencies and financial institutions and has been rated by its investors to $ 4.2 billion earlier this year after closing its latest round of financing.

Another startup that now sells blockchain compliance and data analytics to government agencies, financial institutions, researchers and investors, called Elementus, is also gaining traction. The forensic group announced $ 12 million in Series A funding last month.

Elliptic, an eight-year-old London company that also promises customers it can identify illicit activity on the Bitcoin blockchain and provides its services to financial institutions and law enforcement agencies, has also benefited from the massive surge in l interest in crypto and other digital assets. Last month, it announced $ 60 million in new funding, including from SoftBank and Wells Fargo, a round that brings its total funding to around $ 100 million, per Crunchbase data.

There is apparently plenty of room for growth for everyone, and indeed Meier says Solidus intends to operate as an independent business. Yet if that changed, the company wouldn’t be the first to sell to a buyer with deep pockets. Another six-year-old rival in the space, Menlo Park, Calif.-Based CipherTrace had raised around $ 45 million from investors before deciding in early September to sell to Mastercard on undisclosed terms.


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