Loan and lease monitoring

Mercedes-Benz Sales and Lease Incentives for October

2011-10-23T06:24:00.000-07:00

The 2012 Mercedes-Benz C-Class is available during October with a 1.9% interest rate loan incentive for 36 months or a 2.9% financing incentive for up to 66 months. The 2012 Mercedes-Benz C300 4Matic is offered with a $379 monthly payment lease deal on a 30-month lease with $4,039 due at signing.

This month, the 2011 E-Class is being sold with a 2.9% interest rate incentive for 36 months or a 3.9% for up to 60 months. The 2011 Mercedes-Benz E350 can be leased for $599 per month on a 33-month lease with a $4,369 down payment.

During October, the 2012 Mercedes-Benz GLK350 can be leased for $399 per month on a 33-month lease with $4,583 due at signing. The 2011 GLK is also available with a 1.9% financing incentive for 36 months or a 2.9% loan deal for up to 60 months.

The 2011 Mercedes-Benz ML350 is being offered this month with a 1.9% financing incentive for 36 months or a 2.9% loan incentive for up to 60 months. XXX The 2012 Mercedes-Benz SLK350 lease deal for October is a $619 per month incentive for 33 months with $4,964 due at signing.

For October, the 2012 Mercedes-Benz GL-Class SUV comes with a 1.9% interest rate loan incentive for up to 66 months.

Loan and lease monitoring

2011-10-23T06:23:00.001-07:00

Anywhere but Westminster is a series of films and articles aimed at exploring the gap between mainstream politics and real life. Having just spent three weeks film-making and going quietly mad at the party conferences, we've been reminded again of why we conceived the series in the first place. In fact, the films that were made outside the conference bubbles in Birmingham, Wirral and the town of Ramsbottom were ABW pieces in all but name.

In early November we will return with the regular series, making two more films before Christmas. It seems to us that everyone we speak to right now wants to talk about their experience of the state of the economy, and a crisis that shows no signs of coming to an end – and with that in mind, we're asking Comment is free users for suggestions as to non-Westminster stories that highlight Britain's economic plight. Do you know of a place that is the downturn incarnate? Is there a particular business whose fate speaks volumes about the state we're in? Does your own experience point to an aspect of the flatlining economy that politicians don't talk about? Please keep the ideas as specific as possible – for the ABW films we always visit a single location to explore an issue or story. John Domokos and I will be back in the thread at regular intervals.

Personal loan rates lowest for two years

2011-01-07T05:39:00.000-08:00

A price war has broken out in the personal loan market, with the average rate on an unsecured loan of £7,500 falling to 7.89pc – the lowest level since November 2008.

However, those looking to borrow a smaller amount will not see the benefits of rate cuts as the average rate on a £3,000 loan has increased by 2.19 points to 15.12pc in the same time period, while the average cost of a £5,000 loan has increased by 1.6 percentage points, according to moneysupermarket.com.

The most competitive deals are available on loans of between £7,500 and £15,000 and eight providers have reduced their rates since December. For instance, this week Santander cut its rate from 7.8pc to 7.3pc on loans for customers using comparison sites, while Sainsbury’s Finance reduced its rate to 7.4pc and Marks & Spencer Money has launched a new loan at 7.5pc.

Tim Moss, the head of loans and debt at moneysupermarket.com, said: “With many consumers reviewing their finances in the New Year, it is great to see providers creating some healthy competition in the unsecured loans market after a period of relative inactivity.

“For those looking to borrow over £7,500 there are some excellent deals and in some cases it pays to borrow slightly more as it would cost you less overall. Unfortunately, we have yet to see rates drop as rapidly for smaller loans.”

However, Andrew Hagger, a spokesman for Moneynet.co.uk, pointed out that the rate cuts had been targeted at borrowers with existing loans.

He said: “It’s a shame that the rate cutting has, apart from Tesco, Santander and M&S Money, been targeted at existing customers only.” www.telegraph.co.uk

Micro-loans available for small businesses in 50 North Georgia counties

2011-01-07T05:37:00.000-08:00

A ceremonial big check for $605,000 was presented Thursday by Donnie Thomas, acting state director of USDA Rural Development, to Grace Fricks, chief executive officer of Access to Capital for Entrepreneurs (ACE), to provide micro-loans to small rural businesses in North Georgia, including in Whitfield and Murray counties.

Funding for micro-loans, those less than $50,000, is available through the Rural Microentrepreneur Assistance Program (RMAP). ACE became eligible to draw down funds right before Christmas.

“This should be another avenue of support for rural entrepreneurs in need of loans,” said Thomas. “We realize that many small businesses are running into problems accessing capital. We hope this program will help.”

ACE will serve most of Northeast Georgia, including the counties of Banks, Barrow, Bartow, Carroll, Catoosa, Chattooga, Cherokee, Clayton, Cobb, Coweta, Dade, Dawson, Douglas, Elbert, Fannin, Fayette, Floyd, Forsyth, Franklin, Gilmer, Gordon, Habersham, Hall, Haralson, Hart, Heard, Henry, Jackson, Lumpkin, Madison, Morgan, Murray, Newton, Oconee, Oglethorpe, Paulding, Pickens, Polk, Putnam, Rabun, Rockdale, Stephens, Towns, Union, Walker, Walton, White and Whitfield.

As businesses pay back loans, the funds are then available to re-lend to another business, creating a renewable loan resource.

Funding levels for RMAP for fiscal year 2011 are not currently known. The initial announcement said $4 million would be available nationwide. However, the U.S. government is currently under a continuing resolution. Specific funding amounts for fiscal year 2011 will not be known until a budget is signed by Congress.

Loans through this program can be used for working capital; purchase of furniture, fixtures, supplies, inventory or equipment; debt refinancing; business acquisitions; and purchase or lease of real estate, with qualifying conditions.

Loan funds cannot be used for a variety of purposes, including, but not limited to, construction costs or assistance that will cause conflict of interest issues.

Businesses interested in applying for loans can contact ACE for assistance (www.aceloans.org). Interest rates on the ACE loans will be between 6 to 12 percent and the point of contact is Sandy Headley (headley@aceloans.org).

For more information on Rural Development programs visit www.rurdev.usda.gov/ga.

Honda Offers 0.9 Percent Car Loan Rates on Most Vehicles in January

2011-01-07T05:33:00.000-08:00

Jan 06 2011 - Honda has scaled back its lease incentives quite a bit in January, but is still offering low auto loan rates on most of its vehicles.

Last month, Honda offered sign and drive lease deals on eight models. In January, only two vehicles can be leased with $0 down payment. The Accord Coupe is $300 a month for 36 months. The first payment is waived under the sign and drive lease incentive. The Civic Sedan is $200 a month for 36 months under the same sign and drive lease deal.

These two cars are also available with lower payments by putting a few thousand dollars down. The Honda Accord Coupe will cost $199 a month with $3,499 down, while the Civic Sedan is $149 a month with $1,999 down.

The 2011 Honda Accord Coupe can be leased for $300 a month with no down payment in January.

Honda also has lease deals on its Accord Sedan and CR-V in January. The Accord Sedan is $199 a month and the CR-V is $219 a month, both for 36 months.

Honda is continuing its 0.9 or 1.9 percent car loan rates through January on most models. The Element is the only vehicle available at 1.9 percent for 36 months. The 0.9 percent auto loan rate applies to the Accord Coupe, Accord Crosstour, Accord Sedan, Civic Coupe, Civic Hybrid, Civic Sedan, Civic Si Coupe, Civic Si Sedan, CR-V, Fit, Insight and Pilot. All models under the 0.9 percent rate deal are available up to 60 months, except the Pilot, which is available up to 36 months.

Higher interest rates are available for longer car loan lengths on some models. Also, some newer 2011 models have shorter loan lengths at the discounted interest rate.

£5 million loan fund for Scottish third sector launched

2010-11-10T05:44:00.000-08:00

Social lender Triodos Bank has teamed up with a Scottish social investment firm to offer £5 million of loan finance to third sector organisations seeking to purchase property.

The fund will allow Scottish voluntary and community groups to borrow up to 95 per cent of the value of a property.

Triodos will lend up to 70 per cent of the value of the property and SIS will fund the remaining 20-30 per cent.

The loan package will enable organisations either to purchase the freehold or take over ownership of a building on a long lease. Applicants to the scheme will also be offered legal services.

A spokeswoman for Triodos said that "many third sector organisations in Scotland do not have the equity needed to purchase their own property despite that fact that, in the current market, there is a real opportunity for them to do so".

She said: "By initially making available up to £5 million, the Triodos/SIS loan product will provide the Scottish third sector with crucial access to finance it might not otherwise be able to obtain."

Craig Campbell, chief executive of SIS Scotland, said: "We regularly hear how difficult it is for Scottish third sector organisations to find the finance to enable expansion plans, and hope that this will help them realise their ambitions for growth."

SIS manages a range of social funds, including the Scottish Government’s £30 million Scottish Investment Fund.

GIP group buys Australia port lease in $2.3 bln deal

2010-11-10T05:40:00.000-08:00

SYDNEY, Nov 10 (Reuters) - Australia's Queensland state government has agreed to sell a 99-year lease for the Port of Brisbane to a consortium including U.S.-based investment fund Global Infrastructure Partners in a $2.3 billion deal.

The winning consortium, Q Port Holdings, also included Australia's Industry Funds Management, funds managed by Queensland's QIC Ltd as well as a subsidiary of the Abu Dhabi Investment Authority, the government said on Wednesday.
The port's lease deal included A$2.1 billion ($2.1 billion) in cash as well as the new owner agreeing to fund a future upgrade of a section of the port's motorway for A$200 million.

"The signing of the deal represents A$2.3 billion worth of value to the Queensland taxpayer with the future development of the port now the responsibility of a quality consortium," Queensland Treasurer Andrew Fraser said in a statement.

Global Infrastructure Partners, Industry Funds Management and QIC would each hold stakes of about 27 percent, leaving the Abu Dhabi Investment Authority with the remaining minority stake.

Global Infrastructure was jointly founded by Credit Suisse and General Electric (GE.N).

The asset was being sold as part of a A$15 billion sale of infrastructure by the Queensland government, including rail freight group QR National which plans to list on the stock market this month.

The other consortium bidding for the port lease included Morgan Stanley Infrastructure Partners (MS.N) and Australian pension fund UniSuper, sources familiar with the matter said.

India's Adani Group (ADEL.BO) had also expressed interest in the process but was not among final bidders, the sources said.

The Australian newspaper earlier reported the A$2.3 billion price tag was around the middle of an indicative range of A$2-A$2.5 billion the government had hoped to fetch.

RBS (RBS.L) and Merrill Lynch (BAC.N) are advising the Queensland government on the sale.

The winning bid is backed by around A$1.25 billion of debt from lenders including ANZ (ANZ.AX), BBVA (BBVA.MC), BNP Paribas (BNPP.PA), Credit Agricole CIB (CAGR.PA), National Australia Bank (NAB.AX), Natixis (CNAT.PA), Sumitomo Mitsui Banking Corp (8316.T) and WestLB WDLG.UL.

The loan margin on the acquisition debt is 200bp-plus according to the financiers.

(Reporting by Michael Smith and Sharon Klyne)

Bloomfield State Bank enters into consent order with FDIC and State of Indiana Department of Financial Institutions

2010-11-06T06:28:00.000-07:00

By Nick Schneider, Assistant Editor

Bloomfield State Bank has entered into a consent order with the Federal Deposit Insurance Corporation and the State of Indiana Department of Financial Institutions after the regulators alleged that the bank was engaged in unsafe and unsound banking practices.

According to the 16-page order issued Sept. 17, Bloomfield State Bank waived a hearing on the allegations and elected to enter into the consent order "without admitting or denying the charges of unsafe or unsound banking practices relating to weakness in capital, asset quality, management and earnings."

Among the directives to management, BSB was mandated to "restore all aspects of the bank to a sound and sound condition, including capital adequacy, asset quality, management effectiveness, earnings, liquidity and sensitivity to interest rate risk."

The bank was further ordered to retain the services of a consultant who has the approval of the FDIC and the State Department of Financial Institutions who will develop a written analysis and assessment of the bank's management.

The order also states that the consultant will conduct an "evaluation of all bank officers and staff members to determine whether these individuals possess the ability, experience and other qualifications required to perform present and anticipated duties, including adherence to the bank's established policies and practices, and restoration and maintenance of the bank in a safe and sound condition."

The board of directors was also ordered to increase its participation in the affairs of the bank and was directed to have in place within 30 days of the order a program that will provide closer monitoring of the bank's operation to ensure compliance with the order.

With regards to capital, the bank was ordered no later than Dec. 31 to have and maintain its level of Tier 1 capital as a percentage of total assets (capital ratio) at a minimum of 9 percent and its level of qualifying total capital as a percentage of risk-weighted assets at a minimum of 12 percent.

Also under the order, the bank is prohibited to extend directly or indirectly any additional credit to any borrower who is already obligated in any manner to the bank on any extensions of credit that has been charged off the books of bank or classified 'loss' in the May 10, 2010 visitation report, so long as the credit remains classified as uncollected, substandard or doubtful.

The order also includes restrictions on the payment of dividends. Prior written consent must be obtained from the FDIC and DFI director before any dividends can be declared and paid.

Within 60 days of the order, the bank was directed to provide a written profit plan and present a realistic, comprehensive budget for the calendar years 2010 and 2011.

FDIC spokesperson LaJuan Williams-Young told the Greene County Daily World that her agency does not comment on specific cases that are under investigation, but she did note that the consent order issued is "an injunctive-type order that may be issued when a banking organization or institution-affiliated party is engaging, has engaged or is about to engage in an unsafe or unsound banking practice, or a violation of law. A banking organization or an institution-affiliated party subject to such an order is required to follow the proscriptions set out in the order and can be directed to take specified actions. 12 U.S.C. § 1818(b)."

Bloomfield State Bank issued a press release that states the bank entered into the agreement to strengthen the financial stability of the bank and position itself to better serve the communities it serves.

The release reads: "Like many other banks over the past three years, Bloomfield State Bank has seen an increase in problem assets during the economic downturn, and the bank is working to address those issues.

"The bank has aggressively and pro-actively moved to meet all requisites set forth in the agreement and has otherwise taken affirmative steps to strengthen all areas of the bank.

"Our employees' primary mission is to continue to support our area, and the local businesses within our communities, by providing excellent customer service with products that have good value.

"Bloomfield State Bank was established in 1873 as a local community bank and we pride ourselves in our unique ability, as a community bank, to assist our friends and neighbors in pursing their dreams, to know them and work with them closely and to be there even when times are difficult."

Mark Barkley, Bloomfield State Bank's Chairman, stated "Our single focus is to make Bloomfield State Bank the strongest bank it can be and to adhere to the core values and principles which are steadfast and time tested in its 135 year history. Our customers should be assured that our services and abilities will remain the same and we are dedicated to our mission to meet today's challenges as well as those of tomorrow."

Bank President/CEO Benny McNeely said much of the bank's problems can be directly linked to a poor local economy with some people struggling to stay out of foreclosure.

He said the bank is required by federal and state regulators when they have either commercial or residential borrower who has some weakness in their credit to get new appraisals on their properties.

"I haven't seen an appraisal in the last two years that came in as high as it was appraised before 2008. When that happens, and whether or not those people are paying us and for the most part they are, we have to set aside reserves for the decline in value of the real estate. We started doing that pretty aggressively in 2009 and continue to do that aggressively to this year. To the extend, that we have nearly $14 million set aside for contingencies on those residential and commercial properties. With a bank our size you can't set aside $14 million over a two year period without it negatively affecting your profitability. That's what has happened to us," McNeely explained. "Those reserves are direct charges against income. Not that we've lost the money, we just had to set it aside to be prepared on those case."

McNeely said this reserve money is set aside in an account called "allowance to loan and lease losses".

"It is there specifically to take care of any issues that we would have in dealing with those real estate properties should those people be unable to pay us and we have to take them back and work with them to sell their property," he said. "Given the economy and the rate of unemployment, we have a fair number of residential customers who are struggling and we have some commercial people who are struggling as well. For the most part they are paying us. But we have had to foreclose on some properties, both residential and commercial. We don't really like to do that, but I to protect the bank and if that is the way to get the bank's money back, that's what I have to do."

McNeely said this the first time in the bank's more than 100 year history that it has faced problems like this.

"We have always maintain roughly 30 percent of our deposits in liquid assets....things that we can always draw on to meet people's needs so we don't have any issues there. You never want to loan out your last dollar," he said. "The Barkley family (who own controlling interest in the bank) have always been ones to reserve capital and never paid out a lot of dividends to themselves. They've always kept the best interest of the bank above the best interest of the family."

A study of Bloomfield State Bank conducted by American University School of Communication shows on June 30, 2010 the bank had assets of $444,033,000 up from $437,640,000 on June 30, 2009.

As of June 30, 2010, deposits amounted to $335,453,00, loans were at $307,951,000 with reserves at $12,753,000.

The study showed that the bank's profit was at minus $2,013,000 for the current term ending June 30. The profit ending June 30,2009 was listed at minus $2,721,000.

Universal Bankcorp, which owns Bloomfield State Bank, received federal TARP funds amounting to $9,900,000 on May 22, 2009

TARP funds are monies utilized by the United States Treasury during the 2008 financial crisis in an attempt to stabilize the American economy. These $700 billion in funds were used to rescue financial institutions which were deemed "too big to fail," out of concern that failure of major financial institutions could plunge the American economy into a depression.

Bloomfield State Bank maintains two offices in Bloomfield and branch locations in Linton, Lyons, Jasonville, Newberry, Eastern Heights, Bloomington, Mitchell, Indianapolis, Greenwood, Oaktown, Columbus and Seymour.

M&T Bank Corp. Reports Operating Results (10-Q)

2010-11-06T06:18:00.000-07:00

M&t Bank Corp. has a market cap of $9.81 billion; its shares were traded at around $82.49 with a P/E ratio of 15.4 and P/S ratio of 2.7. The dividend yield of M&t Bank Corp. stocks is 3.4%. M&t Bank Corp. had an annual average earning growth of 1.3% over the past 10 years.
MTB is in the portfolios of Warren Buffett of Berkshire Hathaway, Bill Gates of Bill & Melinda Gates Foundation Trust, Murray Stahl of Horizon Asset Management, Louis Moore Bacon of Moore Capital Management, LP, Mario Gabelli of GAMCO Investors, Jim Simons of Renaissance Technologies LLC, Jean-Marie Eveillard of First Eagle Investment Management, LLC, Steven Cohen of SAC Capital Advisors, Jeremy Grantham of GMO LLC.

Highlight of Business Operations:

M&T Bank Corporation (“M&T”) recorded net income in the third quarter of 2010 of $192 million or $1.48 of diluted earnings per common share, compared with $128 million or $.97 of diluted earnings per common share in the third quarter of 2009. During the second quarter of 2010, net income totaled $189 million or $1.46 of diluted earnings per common share. Basic earnings per common share were $1.49 in the recent quarter, compared with $.97 in the year-earlier quarter and $1.47 in the second quarter of 2010. The after-tax impact of net acquisition and integration-related gains and expenses (included herein as merger-related expenses)resulted in income of $9 million ($15 million pre-tax) or $.08 of basic and diluted earnings per common share in the third quarter of 2009. Such gains and expenses related to M&T’s May 23, 2009 acquisition of Provident Bankshares Corporation (“Provident”) and to the August 28, 2009 agreement between the Federal Deposit Insurance Corporation (“FDIC”) and M&T Bank, the principal banking subsidiary of M&T, for M&T Bank to assume all of the deposits and acquire certain assets of Bradford Bank (“Bradford”). There were no merger-related expenses during 2010. For the nine months ended September 30, 2010, net income was $532 million or $4.10 per diluted common share, compared with $243 million or $1.84 per diluted common share during the similar period of 2009. Basic earnings per common share were $4.12 for the first nine months of 2010, compared with $1.84 in the corresponding nine-month period of 2009. The after-tax impact of merger-related gains and expenses was $33 million ($54 million pre-tax) or $.28 of basic and diluted earnings per common share in the nine-month period ended September 30, 2009.

Several noteworthy items are reflected in M&T’s third quarter 2009 results. On August 28, 2009 M&T Bank entered into a purchase and assumption agreement with the FDIC to assume all of the deposits and acquire certain assets of Bradford, a bank based in Baltimore, Maryland. As part of the transaction, M&T Bank entered into a loss-share arrangement with the FDIC whereby M&T Bank will be reimbursed by the FDIC for most losses it incurs on the acquired loan portfolio. Assets acquired in the transaction totaled approximately $469 million, including $302 million of loans, and liabilities assumed aggregated $440 million, including $361 million of deposits. The transaction was accounted for using the acquisition method of accounting. In accordance with GAAP, M&T Bank recorded an after-tax gain on the transaction of $18 million ($29 million before taxes) during the third quarter of 2009. The gain reflected the amount of financial support and indemnification against loan losses that M&T obtained from the FDIC. Merger-related expenses associated with this transaction and with M&T’s second quarter acquisition of Provident totaled $9 million, after applicable tax effect, in 2009’s third quarter. Also reflected in M&T’s third quarter 2009 results were $29 million of after-tax other-than-temporary impairment charges ($47 million before taxes) on certain available-for-sale investment securities. Specifically, such charges related to certain privately issued CMOs backed by residential real estate loans and CDOs backed by pooled trust preferred securities of financial institutions. Finally, M&T’s results in the third quarter of 2009 benefited from a $10 million reversal of accrued income taxes for previously uncertain tax positions in various jurisdictions. The overall impact of the items described herein was to reduce M&T’s third quarter 2009 net income by approximately $9 million, or $.08 of diluted earnings per common share.

The Provident transaction has been accounted for using the acquisition method of accounting. Accordingly, the assets acquired and liabilities assumed were recorded by M&T at their estimated fair values as of the acquisition date. Assets acquired totaled $6.3 billion, including $4.0 billion of loans and leases (including approximately $1.7 billion of commercial real estate loans, $1.4 billion of consumer loans, $700 million of commercial loans and leases and $300 million of residential real estate loans) and $1.0 billion of investment securities. Liabilities assumed were $5.9 billion, including $5.1 billion of deposits. The transaction added $436 million to M&T’s stockholders’ equity, including $280 million of common equity and $156 million of preferred equity. In connection with the acquisition, the Company recorded $332 million of goodwill and $63 million of core deposit intangible. The core deposit intangible is being amortized over seven years using an accelerated method. The acquisition of Provident expanded the Company’s presence in the Mid-Atlantic area, gave the Company the second largest deposit share in Maryland, and tripled the Company’s presence in Virginia.

As a result of business combinations and other acquisitions, the Company had intangible assets consisting of goodwill and core deposit and other intangible assets totaling $3.7 billion at each of September 30, 2010, September 30, 2009 and December 31, 2009. Included in such intangible assets was goodwill of $3.5 billion at each of those respective dates. Amortization of core deposit and other intangible assets, after tax effect, totaled $8 million ($.07 per diluted common share) during the third quarter of 2010, compared with $10 million ($.09 per diluted common share) during the year-earlier quarter and $9 million ($.07 per diluted common share) during the second quarter of 2010. For the nine-month periods ended September 30, 2010 and 2009, amortization of core deposit and other intangible assets, after tax effect, totaled $27 million ($.23 per diluted common share) and $29 million ($.25 per diluted common share), respectively.

Average loans and leases declined $1.5 billion, or 3%, to $50.8 billion in the recent quarter from $52.3 billion in the third quarter of 2009. Average commercial loan and lease balances declined $945 million, or 7%, to $12.9 billion in the third quarter of 2010 from $13.8 billion in the year-earlier quarter. That decline was the result of generally lower demand for commercial loans. Commercial real estate loans averaged $20.6 billion in the recent quarter, compared with $20.8 billion in the third quarter of 2009. Average outstanding residential real estate loans increased $251 million or 5% to $5.7 billion in the recently completed quarter from $5.4 billion in the third quarter of 2009. Included in that portfolio were loans held for sale, which averaged $441 million in the third quarter of 2010, compared with $613 million in the year-earlier quarter. Consumer loans averaged $11.7 billion in the recent quarter, $560 million or 5% lower than $12.2 billion in 2009’s third quarter. That decline was largely due to lower average outstanding automobile and home equity loan balances.

$100,000, excluding brokered certificates of deposit, averaged $1.6 billion in the third quarter of 2010, compared with $2.5 billion in the year-earlier quarter and $1.7 billion in the second quarter of 2010. Offshore branch deposits, primarily comprised of balances of $100,000 or more, averaged $802 million, $1.4 billion and $972 million for the three-month periods ended September 30, 2010, September 30, 2009 and June 30, 2010, respectively. Brokered time deposits averaged $571 million in the recent quarter, compared with $1.1 billion in the third quarter of 2009 and $709 million in the second quarter of 2010. The Company also had brokered NOW and brokered money-market deposit accounts, which in the aggregate averaged $1.5 billion during the recently completed quarter, compared with $709 million and $1.2 billion during the similar quarter of 2009 and the second quarter of 2010, respectively. The higher level of such deposits in the two most recent quarters as compared with the third quarter of 2009 reflects continued uncertain economic markets and the desire of brokerage firms to earn reasonable yields while ensuring that customer deposits were fully insured. Offshore branch deposits and brokered deposits have been used by the Company as alternatives to short-term borrowings. Additional amounts of offshore branch deposits or brokered deposits may be added in the future depending on market conditions, including demand by customers and other investors for those deposits, and the cost of funds available from alternative sources at the time.

New lease standard could destabilise corporate balance sheets

2010-08-17T18:49:00.000-07:00

17 Aug 2010 - Proposed lease accounting rules could destablise the balance sheets of major retailers and airlines which could be forced to bring billions of pounds in liabilities on to their balance sheets.

The new rules, released today by the International Accounting Standards Board (IASB), aim to demystify lease accounting and could force major lessees and lessors to recognise greater liabilities in their published accounts.

The rules would likely hit the retail sector hardest with ten of the most well known supermarket chains – including Tesco, Sainsbury's and Morrisons – holding an estimated £45bn in lease commitments, according to a study of their published accounts.

Retailers are major lease-holders owing to the property they hold. Present accounting rules however offer them flexibility in how they record lease contracts.

The IASB hopes to tighten the rules and bring all leases on to the balance sheet in order to provide investors with a more accurate financial picture.

For some, this could wipe as much as 25% off pre-tax profits according to internally modeling cited by a Big Four auditor.

Julian Rose, head of asset finance at UK industry group the Finance & Leasing Association said retailers will be significantly affected under the proposed rules. He also cited airlines, rail operators and other transportation businesses as others likely affected by the proposed rules.

“If there is a need to do this, it is very important that the rules companies need to follow are as simple as possible,” he said.

Veronica Poole, audit partner with Deloitte said the standard could have a knock on effect on company’s key performance indicators.

“The result could be lower asset turn-over ratios, lower return on capital and an increase in debt-to-equity ratios which could impact borrowing capacity or compliance with loan covenants,” she said.

“It would also typically raise the EBITDA (earnings before interest, taxes, depreciation and amortisation) figure beloved by analysts.”

Giles David, chief financial officer, with high street retailer Brighthouse said he does not expect his new-look balance sheet to affect the attitudes of his investors.

“I’m not anticipating their view of the business performance to change,” he said.

“We are a privately owned business we have a sophisticated investors. We don’t broadcast our results, so there for we are able to have very decent conversations and we work very hard in being transparent.”

Mark Venus, global head of accounts payable at BNP Paribas and also a member of Leaseurope’s accounting committee, said the IASB had paid lip service to cost -benefit considerations in its proposals.

“This is very visible in the draft standard that has just come out,” he said.

“The proposals are more than 100 pages in length only a handful of paragraphs deal with cost - benefit analysis”.

Leasegroup estimated the European leasing industry was worth about €209 bn (£134bn) in 2009.

David Tweedie, chairman of the International Accounting Standard Board, said the proposals would result in better and more complete financial reporting information available to investors.

When Student Loans Live On After Death

2010-08-08T05:07:00.000-07:00

AUGUST 7, 2010 - In July 2006, 25-year-old Christopher Bryski died.

His private student loans didn't. Mr. Bryski's family in Marlton, N.J., continues to make monthly payments on his loans—the result of a potentially costly loophole in the rules governing student lending.

As the college season nears, throngs of parents and students still are applying for private student loans, long used by students as an alternative to federal loans. But they may be unaware that in cases where the student dies, the co-signers often are obliged to pay off the balance of the loan themselves—a requirement typically not found in federal loans.

Many private student-loan lenders say they have a review process for cases involving disability or injury, and the new Bureau of Consumer Financial Protection will have an ombudsman in charge of private student loans. Yet neither the student-loan legislation passed in March as part of the health-care overhaul nor the financial-system overhaul passed in July requires lenders to discuss with the borrower and co-signer the consequences of a borrower's death or permanent disability, or require lenders to forgive private loans in those cases.

The Bryski case sparked the Christopher Bryski Student Loan Protection Act, sponsored by U.S. Rep. John Adler (D., N.J.) and introduced into the House of Representatives in May. The law, which has attracted co-sponsors from both parties, would require private student lenders—among the biggest are Sallie Mae, Citigroup Inc. and Wells Fargo & Co.—to explain to students the co-signer obligations in the event a borrower dies, as well as insurance options for loans and the circumstances under which loans can be discharged—though it wouldn't require lenders to forgive loans.

Sallie Mae, Citibank and Wells Fargo may require co-signers to continue paying private student loans after the primary borrower has died, though the lenders say they will look at cases individually. Wells Fargo doesn't offer medical forbearance, just a three-month period of hardship forbearance during which the interest compounds.

Sallie Mae—formerly a government-sponsored enterprise but fully private since 2004—recently introduced forgiveness in cases of death for its Smart Option Student Loan, but doesn't require it in its other private student loans. A Citi spokesman says, "We believe our policies are generally consistent with other industry participants."

Mr. Bryski, a three-sport athlete, took out $44,500 in private student loans and $5,000 in federal loans to attend Rutgers University in 2001. Joseph, his father, co-signed the loans for him. The family declined to name the lender that issued Mr. Bryski's private student loans because, his brother Ryan says, "we're not pointing fingers. It's not just our lender that does this."

While climbing a tree on June 17, 2004, the then-23-year-old Mr. Bryski fell five feet and sustained severe traumatic brain injuries. The accident placed him in a coma for four weeks, which turned into two years of being in a persistent vegetative state. At the time of the accident, Mr. Bryski was three years into his degree at Rutgers.

During those two years, Mr. Bryski's parents, Joseph and Diane, and his two brothers, Ryan and Joseph, say they juggled 12-hour shifts at the hospital and meetings with doctors with calls from creditors. From the hospital waiting room, Ms. Bryski says, she tried to call and settle her son's credit-card and student-loan payments.

"The bank said they wanted to speak with Christopher," Ms. Bryski says. "I told them, 'You can't speak to Christopher. He can't speak at all.' It's a horrible feeling."

Mr. Bryski had two credit cards with small balances that the family tried to have closed. Eventually, after the family had a lawyer write to the card companies, the balances were canceled. The card companies also refunded the amount the family paid on the account since Mr. Bryski entered the hospital.

Mr. Bryski's federal student loans were deferred as soon as the family submitted a note from a doctor detailing his permanent condition. They were forgiven completely upon receipt of Mr. Bryski's death certificate.

But when Ryan Bryski called regarding his brother's private student loans, a customer-service representative told him that the loans were eligible only for hardship forbearance, during which payments would be suspended for six months at a time and interest would compound on the balance at a variable rate.

View Full Image
STUDENTS2
Michael Rubenstein for the Wall Street Journal

A portrait of Christopher and his mother, Diane.
STUDENTS2
STUDENTS2

The terms of Mr. Bryski's loan also stipulate that since the loan was transferred to the co-signer, Mr. Bryski's father, the entire payment could be requested at once. Consolidation options also were much more restricted.

"We're not saying we won't pay the loan," Ms. Bryski says, "But why didn't they tell us that years ago? It's not fair."

On July 16, 2006, two years after his fall, Christopher Bryski died. The family packed up his apartment, took in his dog, Maverick, and held a memorial service. The calls to customer service regarding the private student loans seemed to go nowhere. A legal representative of the private lender then wrote to the family to inquire about the intentions of Mr. Bryski's estate. "He didn't have an estate," Ryan Bryski says.

"I told them I just lost my son," Ms. Bryski says. "I'm aching in pain, and this is what they're going to do to me?"

The Bryskis continue to make the monthly payments on the private loans, which have risen to $518 from $366 because of interest rate changes and to make up for forbearance periods. The family will end up paying $85,800 by the time the repayment plan ends.

"We didn't want to think of the unthinkable. Then it happened," Ms. Bryski says. "We don't want any other families to go through what we went through."

Families looking to borrow for college should first maximize grants and federal borrowing options, which have recently had their limits expanded and generally offer far better repayment terms than private loans. Federal PLUS loans now allow parents to borrow up to the full cost of attendance, minus any other financial aid a student receives.

Those who do use private loans should read the fine print carefully to be clear about their legal obligations as co-signers in the event of death or disaster. Borrowers can sign up for auto debit so that payments can continue even if parents don't have power of attorney. Should trouble hit, families trying to have their private student loans forgiven should ask for a review.

Save on Student Loans

2010-08-08T05:00:00.000-07:00

Aug 07, 2010 - COLUMBUS, GA (WTVM) -The price you pay for an education can indeed be costly. Research shows fees at private colleges are up 5% this year to more than $26,000 and that's just for one year of tuition, room and board.

Expenses at public schools are around $7,000 per year, up 6.5 % from last year.

To cut costs, many co-eds opt for student loans, but they too come with a price tag in the form of interest. Well rules that kicked in earlier this summer may just give your budget a breather.

For Stafford and PLUS loans issued on or after July 1, 2006 and for those given out after July 1st of this year through June of 2011, here are the new rules that apply:

There's 4.5% percent fixed rate on Subsidized Stafford Loans. That's down from 5.6%.

Unsubsidized Stafford Loans are at a fixed rate of 6.8% for the life of the loan.

PLUS loans are also fixed at 7.9% percent.

For Stafford PLUS loans issued on or after July 1, 1998 and before July 1, 2006, the new interest rates for the period of July 1, 2010 through June 30, 2011 are:

Stafford in repayment status....2.4%, down from 2.48%.

Stafford in school, grace period or deferment status are at 1.87% down from 1.88%.

PLUS Loans in repayment status are at 3.27% down from 3.28%

Banks ease rules on student loans

2010-08-08T04:57:00.000-07:00

August 07. 2010 - Student loans are a part of everyday life for individuals seeking to fund their education in many parts of the world.

In the UAE, however, the traditional road for expatriate students has been to tap the family finances to pay for their higher learning.

But globalisation, the financial crisis and a growing prioritisation of education has resulted in a shift away from this attitude, leading the country’s banks and universities to band together to offer new ways for students to fund their studies.

Abu Dhabi Commercial Bank (ADCB) and Mashreq Bank recently linked with higher learning institutions to form partnerships that give families access to loans that will enable their children to pursue their educational dreams, despite their financial situation.

ADCB introduced its education loan, which is “designed to ensure that finance, or rather the lack of it, does not get in the way of the higher education aspirations of any meritorious student”, says Rahul Unny, the vice president for consumer banking at ADCB.

“We constantly endeavour to uphold the educational development in the UAE to embody the Government’s plan to build the new generation of students, enabling them to take part in the evolutionary process in the UAE.”

Mr Unny says ADCB’s education loan can be obtained without the commitment of a salary transfer. The minimum education loan amount offered by the bank is Dh10,000; the maximum amount is Dh150,000, depending on the student’s or parents’ eligibility. The loan can be repaid over a period of up to 60 months at 14 to 16 per cent interest.

So far, ADCB has partnered with the University of Wollongong in Dubai (UOWD), Intelligent Partners, Institute of Management Technology, the Manchester Business School and the American University of Ras Al Khaimah.

Mashreq Bank has partnered with Murdoch University and the Institute of Management Technology (IMT). The schools are in Dubai International Academic City.

“We realised that education is one of the highest priorities in our customer’s lives,” says Niranjan Mendonca, the head of retail assets at Mashreq Bank. “So we thought we should also focus on education in order to provide our customers an additional way to fund their education.”

Universities do not have to be linked to banks for students to access educational loans. They can approach any bank that offers a personal-loan facility to finance their education, but the advantage of these partnerships is to package the loans to benefit students.

“As a university we felt the need to enable everyone who is qualified, to be able to get quality education regardless of his or her financial situation. That is the main reason we had to get creative,” says Raghav Lal, the strategy and business development manager at Murdoch University.

Students at Murdoch University can apply for a loan from Mashreq Bank at an interest rate of 10 per cent. The average interest rate for educational loans from banks in the UAE ranges from 9 per cent to 12 per cent. But Murdoch students who take out a loan with Mashreq Bank receive a 15 per cent tuition fee discount for the first year of the loan, which helps to offset a large portion of the interest rate.

“Murdoch University’s basic premise is to always ensure all students are given equal opportunities,” says professor John Grainger, the pro-vice chancellor of Murdoch University. “In today’s financial environment, it is not uncommon to have cash-flow issues and we are extremely happy to be able to address such problems. The collaboration with Mashreq will enable students to pursue their qualifications regardless of any short-term concerns with funding.”

Students or parents interested in Mashreq’s education loan can apply for all or part of the tuition expenses. A minimum income of Dh7,000 is required for applicants, and repayments are affordable through flexible plans.

The loan programmes are mainly designed to benefit expatriate families since most Emiratis have their education funded by the Government.

“In the UAE, 60 to 70 per cent of the population is of South Asian origin and to these families education is very important, so these and other expatriates who are residents here are the ones who will benefit the most from our student loans,” says Mr Mendonca.

The Mashreq education loan covers the entire tuition expenses of applicants, while ADCB’s loans are capped at Dh150,000.

“With the partnership, the bank can finance part of our tuition, but there will still be some Dh30,000 that students will need to raise themselves,” says Manoj Mathew, the finance manager at UOWD. “We wished ADCB would cover the entire amount, but we were able to negotiate up to Dh150,000.”

Mr Mathew says UOWD students can also approach Dubai Islamic Bank, which offers a similar education loan.

The country’s universities and banks hope to expand these kinds of partnerships.

The programmes also will help professionals wanting to pursue specialised education or higher degrees. “Higher education should be accessible to all,” says Mr Mendonca.

Student loans - the next "mortgage meltdown"crisis?

2010-08-08T04:28:00.000-07:00

Aug 08, 2010 - CHARLOTTE, NC (WBTV) - An entire generation of today's college graduates are facing financial ruin, unable to climb out of a debt cycle started by high-interest student loans.

Their job perspectives are grim, and, in many cases, their interest rates are outrageous.

Web Extra: Get help with your student loan

Could this be the country's next "mortgage meltdown?"

A college degree used to be one of the keys to success - access to the American Dream. Then again, so did homeownership.

But, as a nation, we have $700 billion in student loan debt, and one in five people can't make their monthly payments.

It's a problem that could devastate the workforce, because there's a large class of educated workers out there with massive dents in their credit, something potential employers are monitoring more closely.

That truth almost ruined Bob Dickie.

Dickie, 54, once had the typical American mindset - he thought getting a college degree would be like getting a new lease on life, and that paying for it was easy as filling out a student loan application.

"The school promises the world to the student," he says. "You're going to make a great living, you're going to launch your career. All the stuff you see on TV."

So he went...and graduated in a recession. Dickie managed to get a job, but he wasn't making anywhere near what he needed.

"The pay was $10 an hour," Dickie says. "So paying rent and commuting 50 miles one way, there was just absolutely nothing left." But skipping student loan payments crumbled his credit.

"I mean, I had all the luxuries of upper middle class. Brand new cars, health care membership, home, I was used to the good life," he says. "After this experience, it just kind of tanked out."

Dickie's partner, Angela Money, tried to negotiate with his lender.

"They were very threatening to us," she says.

And Money says they wouldn't help by lowering payments. In fact, they hiked the interest rate. Dickie's debt just kept getting bigger.

Eventually, he managed to pay the loan off, but it still haunts him.

"Now, our battle is, we can't get it off his credit report," Money says.

"It can become a downward spiral," Dickie adds. "Because now employers are using your credit rating to see if you are a good candidate for employment."

"It's a Catch-22," adds Money. "So how can people do better and progress when things like this are happening?"

It's exactly the kind of question the country asked during the mortgage meltdown.

Sandy Spring Bancorp Reports Fourth Quarter and Full Year Results

2009-01-29T09:09:00.000-08:00

source: www.globenewswire.com
OLNEY, Md., Jan. 29, 2009 (GLOBE NEWSWIRE) -- Sandy Spring Bancorp, Inc., (Nasdaq:SASR) the parent company of Sandy Spring Bank, today announced a net loss available to common shareholders for the fourth quarter of 2008 of $3.8 million ($.23 per diluted share) compared to net income of $8.4 million ($.51 per diluted share) for the fourth quarter of 2007 and net income of $5.4 million ($.33 per diluted share) for the third quarter of 2008. The fourth quarter of 2008 includes a pre-tax impairment charge of $1.9 million to write down the remaining value of goodwill in the Company's leasing subsidiary, The Equipment Leasing Company, and a provision for loan and lease losses of $17.8 million, related primarily to the residential real estate development portfolio.

Net income available to common shareholders for the year ending December 31, 2008 totaled $15.4 million ($.94 per diluted share) compared to net income of $32.3 million ($2.01 per diluted share) for the prior year. The results for the current year include a total goodwill impairment charge of $4.2 million relating to The Equipment Leasing Company and a provision for loan and lease losses for the year of $33.2 million.

"This increased provision reflects our recognition of the continuing decline in economic conditions both nationwide and across our markets. This increase to the reserve is due to internal risk rating downgrades to existing credits, charge-offs and additional specific reserves primarily associated with loans in our residential real estate development portfolio," said Daniel J. Schrider, president and chief executive officer. "We have put into place additional staffing and reporting tools to enhance our ability to monitor our credit quality and to identify and expeditiously deal with problem credits as they arise.

"While our non-performing assets increased from the third quarter, we continue to believe that our conservative loan underwriting standards and our comprehensive methodology for risk-rating our loans will serve us well for the long term as we manage through this tough economic cycle. Concurrently, we are working hard to maintain control over operating expenses.

"We continue to focus on sustaining our position as a long-term independent competitor in the Mid-Atlantic community banking landscape. Pursuant to this goal, we applied for and received in the fourth quarter $83 million in new capital through the sale of preferred stock to the U. S. Treasury. We believe this will help us to remain well-capitalized as we work out existing problem credits and continue to originate new loans to qualifying customers," said Schrider. "We are committed to retaining and supporting our existing customers through the highest level of customer service and the delivery of quality products."

Fourth Quarter and Full Year Highlights:


  * The provision for loan and lease losses totaled $17.8 million for
    the quarter compared to $1.7 million for the fourth quarter of 2007
    and $6.5 million for the third quarter of 2008. For the year, the
    provision for loan and lease losses totaled $33.2 million compared
    to $4.1 million in 2007. These increases were in response to
    internal risk rating downgrades, charge-offs and additional specific
    reserves primarily related to loans in the residential real estate
    development portfolio.

  * As previously disclosed, the Company recognized a pre-tax
    impairment charge of $1.9 million in the fourth quarter of 2008
    and $4.2 million for the full year relating to the write down of
    the remaining value of goodwill in our leasing subsidiary, The
    Equipment Leasing Company, based on completion of Phase II of its
    impairment analysis.

  * During the fourth quarter of 2008 the company completed the sale
    of 83,094 shares of preferred stock under the U. S. Treasury's
    Capital Purchase Program for $83 million. The preferred stock
    carries a 5% annual dividend yield for five years, and a 9%
    annual dividend yield thereafter. In addition, the U.S. Treasury
    also received a warrant to purchase up to 651,547 shares of Sandy
    Spring Bancorp common stock at an exercise price of $19.13.

  * The net interest margin declined to 3.73% for the fourth quarter
    compared to 4.19% for the fourth quarter of 2007 and 4.02% for
    the third quarter of 2008. For the year, the net interest margin
    declined to 3.92% compared to 4.13% for 2007.

  * Noninterest expenses increased 8% for the quarter compared to the
    fourth quarter of 2007 and increased 8% versus the third quarter
    of 2008. Excluding the goodwill impairment charge in the fourth
    quarter of 2008, noninterest expenses remained even compared to
    the fourth quarter of 2007 and declined 4% compared to the third
    quarter of 2008. For the full year of 2008, noninterest expenses
    increased 2% compared to 2007. Excluding the goodwill impairment
    charges and a pre-tax pension credit of $1.5 million recognized
    in the third quarter of 2008, noninterest expenses were virtually
    even versus the prior year. These results are consistent with the
    Company's expectations for project LIFT, the Company's previously
    disclosed initiative for managing operating expenses.

  * The Company as of December 31, 2008 had a total risk-based
    capital ratio of 13.82%, a tier 1 risk-based capital ratio of
    12.56% and a capital leverage ratio of 11.00%.  Capital adequacy,
    as measured by these ratios, was above the "well-capitalized"
    regulatory requirement levels for the Company.

Review of Balance Sheet and Credit Quality

Comparing December 31, 2008 balances to December 31, 2007, total assets increased 9% to $3.3 billion due mainly to growth in the commercial loan portfolio. Total loans and leases increased 9% to $2.5 billion compared to the prior year. This increase in loans was comprised mainly of a 13% increase in commercial loans. Total loans remained virtually the same compared to the third quarter of 2008.

Customer funding sources, which include deposits plus other short-term borrowings from core customers, increased 3% to $2.4 billion at December 31, 2008 compared to the prior year. Such customer funding sources increased 5% compared to the third quarter of 2008. These increases were due primarily to growth resulting from higher rates offered on selected certificate of deposit products and the Company's new Premier money market account. Borrowings from the Federal Home Loan Bank of Atlanta increased 41% to $413 million compared to the prior year. Compared to the third quarter of 2008, such borrowings decreased 15%. The increase over the prior year was necessary to fund loan growth. The decrease compared to the third quarter of 2008 was due primarily to growth in interest bearing deposits.

Stockholders' equity totaled $391.9 million at December 31, 2008, and represented 12.0% of total assets, compared to 10.4% at December 31, 2007. The Company at December 31, 2008 recorded a total risk-based capital ratio of 13.82%, a tier 1 risk-based capital ratio of 12.56% and a capital leverage ratio of 11.00% which were all above "well capitalized" regulatory requirement levels. These ratios reflect the effect of the sale of $83 million in preferred stock under the U. S. Treasury's Capital Purchase Program.

The provision for loan and lease losses totaled $17.8 million for the fourth quarter of 2008 compared to $1.7 million for the fourth quarter of 2007 and $6.5 million for the third quarter of 2008. As discussed above, these increases were primarily due to internal risk rating downgrades, charge-offs and additional specific reserves primarily related to loans in the residential real estate development portfolio. For the year, the provision for loan and lease losses totaled $33.2 million compared to $4.1 million in 2007. This increase was also due to internal risk rating downgrades, charge-offs and additional specific reserves particularly with respect to loans in the residential real estate portfolio.

Loan charge-offs, net of recoveries totaled $5.5 million for the fourth quarter of 2008 compared to $0.2 million for the fourth quarter of 2007 and $1.7 million for the third quarter of 2008. For the year, loan charge-offs, net of recoveries were $7.8 million compared to $1.3 million for 2007. The allowance for loan and lease losses represented 2.03% of outstanding loans and leases and 70% of non-performing assets at December 31, 2008 compared to 1.10% of outstanding loans and leases and 72% of non-performing assets at December 31, 2007.

Non-performing assets totaled $72.2 million at December 31, 2008 compared to $68.4 million at September 30, 2008 and $34.9 million at December 31, 2007. The increase over the third quarter of 2008 was due primarily to three commercial loans and one commercial residential real estate loan together totaling $5.2 million. The increase over the prior year also reflects six residential real estate development loans, in addition to the four loans mentioned above, totaling $22.6 million.

Income Statement Review

Comparing the fourth quarter of 2008 and 2007, net interest income decreased by $0.7 million, or 3%, due primarily to the growth in nonperforming assets and the decline in market interest rates due to the effect of interest rate cuts by the Federal Reserve throughout 2008. Such activity caused loan yields to decline faster than rates paid on deposits. These factors produced a net interest margin decrease to 3.73% in 2008 from 4.19% in 2007.

Noninterest income decreased to $11.0 million in the fourth quarter of 2008 as compared to $11.4 million in the fourth quarter of 2007, a decrease of 4%. Service charges on deposit accounts increased 3% due primarily to higher overdraft fees while fees on sales of investment products increased 79% due to higher sales of annuities. These increases were offset by decreases in gains on sales of mortgage loans of 13% due to lower mortgage volumes reflecting market conditions and 15% in trust and investment management fees also reflecting market conditions. Other noninterest income also decreased 19% compared to the fourth quarter of 2007.

Noninterest expenses were $27.2 million in the fourth quarter of 2008 compared to $25.3 million in the fourth quarter of 2007, an increase of $1.9 million or 8%. Excluding the goodwill impairment charge mentioned above, noninterest expenses remained even compared to the prior year. Salaries and benefits expenses increased 1%, while occupancy and equipment expenses increased 3%. These increases were largely offset by decreases in marketing, outside data services and other noninterest expenses. The overall noninterest expense performance reflects the effect of stringent expense controls implemented as part of project LIFT.

Comparing the year ended December 31, 2008 and 2007, net interest income increased by $3.6 million, or 3%, due primarily to growth in the loan portfolio. The effect of such loan growth was offset to a great extent by a higher level of nonperforming assets, the decline in market interest rates and to higher rates offered to attract deposits. These factors produced a net interest margin decrease to 3.92% in 2008 from 4.13% in 2007.

Noninterest income increased to $46.2 million for the year ended December 31, 2008 compared to $44.3 million in 2007, an increase of 4%. Service charges on deposit accounts increased 15% due primarily to higher overdraft fees while fees on sales of investment products increased 16% due to higher sales of annuities. These increases were somewhat offset by decreases of 16% in gains on sales of mortgage loans due to lower mortgage volumes reflecting market conditions and 11% in insurance agency commissions due to lower fees on commercial lines and reduced contingency fees.

Noninterest expenses were $102.1 million in 2008 compared to $99.8 million in 2007, an increase of $2.3 million or 2%. Excluding the goodwill impairment charges and the pre-tax pension credit in the third quarter of 2008, noninterest expenses remained virtually level compared to the prior year. While FDIC insurance premiums increased $1.3 million over 2007, this increase was offset by a decrease of $1.5 million in merger expenses recognized in 2007. Intangibles amortization increased $0.4 million as a result of two bank acquisitions completed in 2007.

Conference Call

The Company's management will host a conference call to discuss its fourth quarter and full year results today at 2:00 P.M. (ET). A live Web cast of the conference call is available through the Investor Relations' section of the Sandy Spring Web site at www.sandyspringbank.com. Participants may call 877-795-3604; a password is not necessary. Visitors to the Web site are advised to log on 10 minutes ahead of the scheduled start of the call. An internet-based replay will be available at the Web site until 12:00 midnight (ET) February 28, 2009. A telephone voice replay will also be available during that same time period at 888-203-1112. Please use pass code #1250457 to access.

About Sandy Spring Bancorp/Sandy Spring Bank

With $3.3 billion in assets, Sandy Spring Bancorp is the holding company for Sandy Spring Bank and its principal subsidiaries, Sandy Spring Insurance Corporation, The Equipment Leasing Company and West Financial Services, Inc. Sandy Spring Bancorp is the second largest publicly traded banking company headquartered in Maryland. Sandy Spring is a community banking organization that focuses its lending and other services on businesses and consumers in the local market area. Independent and community-oriented, Sandy Spring Bank was founded in 1868 and offers a broad range of commercial banking, retail banking and trust services through 42 community offices in Anne Arundel, Carroll, Frederick, Howard, Montgomery, and Prince George's counties in Maryland, and Fairfax and Loudoun counties in Virginia. Through its subsidiaries, Sandy Spring Bank also offers a comprehensive menu of leasing, insurance and investment management services. Visit www.sandyspringbank.com to locate an ATM near you or for more information about Sandy Spring Bank.

The Sandy Spring Bancorp, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4138

Forward-Looking Statements

Sandy Spring Bancorp makes forward-looking statements in this news release and in the conference call regarding this news release. These forward-looking statements may include: statements of goals, intentions, earnings expectations, and other expectations; estimates of risks and of future costs and benefits; assessments of probable loan and lease losses; assessments of market risk; and statements of the ability to achieve financial and other goals.

Forward-looking statements are typically identified by words such as "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project" and other similar words and expressions. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made. Sandy Spring Bancorp does not assume any duty and does not undertake to update its forward-looking statements. Because forward-looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those that Sandy Spring Bancorp anticipated in its forward-looking statements, and future results could differ materially from historical performance.

Sandy Spring Bancorp's forward-looking statements are subject to the following principal risks and uncertainties: general economic conditions and trends, either nationally or locally; conditions in the securities markets; changes in interest rates; changes in deposit flows, and in the demand for deposit, loan, and investment products and other financial services; changes in real estate values; changes in the quality or composition of the Company's loan or investment portfolios; changes in competitive pressures among financial institutions or from non-financial institutions; the Company's ability to retain key members of management; changes in legislation, regulations, and policies; and a variety of other matters which, by their nature, are subject to significant uncertainties. Sandy Spring Bancorp provides greater detail regarding some of these factors in its Form 10-K for the year ended December 31, 2007, including in the Risk Factors section of that report, and in its other SEC reports. Sandy Spring Bancorp's forward-looking statements may also be subject to other risks and uncertainties, including those that it may discuss elsewhere in this news release or in its filings with the SEC, accessible on the SEC's Web site at www.sec.gov.


Sandy Spring Bancorp, Inc. and Subsidiaries
FINANCIAL HIGHLIGHTS (Unaudited)
(Dollars in thousands, except per share data)

                                        Three Months Ended
                                           December 31,     
                                        ------------------      %
                                          2008       2007     Change
---------------------------------------------------------------------
Profitability for the period:                                       
 Net interest income                    $26,674    $27,400      (3) %
 Provision for loan and lease losses     17,791      1,725     931  
 Noninterest income                      10,973     11,380      (4) 
 Noninterest expenses                    27,233     25,316       8  
 Income (loss) before income taxes       (7,377)    11,739    (163) 
 Net income (loss)                      ($3,436)    $8,367    (141) 
 Net income (loss) available to
  common shareholders                   ($3,770)    $8,367    (145) 

  Return on average assets (1)           (0.46)%      1.10%         
  Return on average common
   equity (1)                            (4.70)%     10.69%         
  Net interest margin                      3.73%      4.19%         
  Efficiency ratio - GAAP *               72.34%     65.28%         
  Efficiency ratio - Non-GAAP *           62.41%     60.22%         
                                                                   
Per share data:                                                    
 Basic net income (loss) per share       ($0.21)     $0.51    (141) %
 Basic net income (loss) per common                                 
  share                                   (0.23)      0.51    (145) 
 Diluted net income (loss) per share      (0.21)     $0.51    (141) %
 Diluted net income (loss) per common                               
  share                                   (0.23)      0.51    (145) 
 Dividends declared per common share       0.24       0.23       4  
 Book value per common share              19.05      19.31      (1) 
 Average fully diluted shares        16,434,214 16,422,161          
                                                                   
At period-end:                                                     
 Assets                              $3,313,638 $3,043,953       9  %
 Deposits                             2,365,257  2,273,868       4  
 Total loans and leases               2,490,646  2,277,031       9  
 Securities                             492,491    445,273      11  
 Stockholders' equity                   391,862    315,640      24  
                                                                   
Capital and credit quality ratios:                                  
 Average equity to average assets         10.59%     10.33%         
 Allowance for loan and lease
  losses to loans and leases               2.03%      1.10%         
 Nonperforming assets to total assets      2.18%      1.15%         
 Annualized net charge-offs to                                      
  average loans and leases                 0.88%      0.01%         
                                   


                                       Twelve Months Ended
                                           December 31,        
                                        ------------------      %
                                          2008       2007     Change
---------------------------------------------------------------------
Profitability for the period:
 Net interest income                    $108,459   $104,826      3  %
 Provision for loan and lease losses      33,192      4,094    711  
 Noninterest income                       46,243     44,289      4  
 Noninterest expenses                    102,089     99,788      2  
 Income (loss) before income taxes        19,421     45,233    (57) 
 Net income (loss)                       $15,779    $32,262    (51) 
 Net income (loss) available to
  common shareholders                    $15,445    $32,262    (52) 

  Return on average assets (1)              0.49%      1.10%        
  Return on average common equity (1)       4.84%     11.12%        
  Net interest margin                       3.92%      4.13%        
  Efficiency ratio - GAAP *                65.99%     66.92%        
  Efficiency ratio - Non-GAAP *            59.88%     61.92%        
                                                                   
Per share data:                                                    
 Basic net income (loss) per share         $0.96      $2.01    (52) %
 Basic net income (loss) per common                                 
  share                                     0.94       2.01    (53) 
 Diluted net income (loss) per share        0.96      $2.01    (52) %
 Diluted net income (loss) per common                               
  share                                     0.94       2.01    (53) 
 Dividends declared per common share        0.96       0.92      4  
 Book value per common share               19.05      19.31     (1) 
 Average fully diluted shares         16,429,471 16,087,310         
                                                                   
At period-end:                                                     
 Assets                               $3,313,638 $3,043,953      9  %
 Deposits                              2,365,257  2,273,868      4  
 Total loans and leases                2,490,646  2,277,031      9  
 Securities                              492,491    445,273     11  
 Stockholders' equity                    391,862    315,640     24  
                                                                   
Capital and credit quality ratios:                                  
 Average equity to average assets          10.31%      9.89%        
 Allowance for loan and lease
  losses to loans and leases                2.03%      1.10%        
 Nonperforming assets to total assets       2.18%      1.15%        
 Annualized net charge-offs to                                      
  average loans and leases                  0.32%      0.06%        

(1) Calculation utilizes net income available to common shareholders

* The GAAP efficiency ratio is noninterest expenses divided by net
  interest income plus noninterest income from the Consolidated
  Statements of Income. The non-GAAP efficiency ratio excludes
  intangible asset amortization, the goodwill impairment loss and the
  pension prior service credit from noninterest expenses; excludes
  securities gains from noninterest income; and adds the
  tax-equivalent adjustment to net interest income. See the
  Reconciliation Table included with these Financial Highlights.


Sandy Spring Bancorp, Inc. and Subsidiaries
Reconciliation of GAAP-based and Traditional Efficiency Ratios
 (Unaudited)
(In thousands, except per share data)

                              Three Months Ended  Twelve Months Ended
                                 December 31,         December 31,
                              ------------------  ------------------
                                2008      2007      2008      2007
                              --------  --------  --------  --------
Noninterest expenses-GAAP     $ 27,233  $ 25,316  $102,089  $ 99,788
Net interest income plus
 noninterest income-GAAP        37,647    38,780   154,702   149,115

Efficiency ratio-GAAP            72.34%    65.28%    65.99%    66.92%
                              ========  ========  ========  ========

Noninterest expenses-GAAP     $ 27,233  $ 25,316  $102,089  $ 99,788
  Less non-GAAP adjustment:
    Goodwill Impairment Loss     1,909         0     4,159         0
    Amortization of intangible
     assets                      1,103     1,124     4,447     4,080
 Plus non-GAAP adjustment:
    Pension prior service
     credit                          0         0     1,473         0
                              --------  --------  --------  --------
      Noninterest expenses-
       Non-GAAP                 24,221    24,192    94,956    95,708

Net interest income plus
 noninterest income-GAAP        37,647    38,780   154,702   149,115
    Plus non-GAAP adjustment:
      Tax-equivalency            1,164     1,410     4,545     5,506
    Less non-GAAP adjustments:
      Securities gains               1        15       663        43
                              --------  --------  --------  --------
      Net interest income plus
       noninterest income -
       traditional ratio        38,810    40,175   158,584   154,578

Efficiency ratio - Non-GAAP      62.41%    60.22%    59.88%    61.92%
                              ========  ========  ========  ========


Sandy Spring Bancorp, Inc. and Subsidiaries
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except per share data)
                                                   December 31,
                                              ----------------------
                                                 2008        2007
--------------------------------------------------------------------
Assets
  Cash and due from banks                     $   44,738  $   63,432
  Federal funds sold                              60,027      22,055
  Interest-bearing deposits with banks               464         365
                                              ----------  ----------
    Cash and cash equivalents                    105,229      85,852

  Residential mortgage loans held for
   sale (at fair value)                           11,391       7,089
  Investments available-for-sale
   (at fair value)                               291,727     186,801
  Investments held-to-maturity - fair
   value of $175,908 and $240,995,
   respectively                                  171,618     234,706
  Other equity securities                         29,146      23,766

  Total loans and leases                       2,490,646   2,277,031
    Less: allowance for loan and lease
     losses                                      (50,526)    (25,092)
                                              ----------  ----------
      Net loans and leases                     2,440,120   2,251,939

  Premises and equipment, net                     51,410      54,457
  Other real estate owned                          2,860         461
  Accrued interest receivable                     11,810      14,955
  Goodwill                                        76,248      76,585
  Other intangible assets, net                    12,183      16,630
  Other assets                                   109,896      90,712
                                              ----------  ----------
        Total assets                          $3,313,638  $3,043,953
                                              ==========  ==========

Liabilities
  Noninterest-bearing deposits                $  461,517  $  434,053
  Interest-bearing deposits                    1,903,740   1,839,815
                                              ----------  ----------
      Total deposits                           2,365,257   2,273,868

  Short-term borrowings                          421,074     373,972
  Long-term borrowings                            66,584      17,553
  Subordinated debentures                         35,000      35,000
  Accrued interest payable and other
   liabilities                                    33,861      27,920
                                              ----------  ----------
        Total liabilities                      2,921,776   2,728,313

Stockholders' Equity
  Preferred stock -- par value $1.00
   (liquidation preference of $1,000
   per share ) shares authorized 83,094
   and 0, respectively; shares issued
   and outstanding 83,094 and 0,
   respectively (discount of
   $3,654,000 and 0, respectively)                79,440           0
  Common stock -- par value $1.00;
   shares authorized 49,916,906
   and 50,000,000, respectively;
   shares issued and outstanding
   16,398,523 and 16,349,317,
   respectively                                   16,399      16,349
  Warrants                                         3,699           0
  Additional paid in capital                      85,486      83,970
  Retained earnings                              214,410     216,376
  Accumulated other comprehensive loss            (7,572)     (1,055)
                                              ----------  ----------
        Total stockholders' equity               391,862     315,640
                                              ----------  ----------
        Total liabilities and
         stockholders' equity                 $3,313,638  $3,043,953
                                              ==========  ==========


Sandy Spring Bancorp, Inc. and Subsidiaries
CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
(In thousands, except per share data)           

                            Three Months Ended    Twelve Months Ended
                               December 31,           December 31,
                            ------------------    -------------------
                               2008     2007         2008      2007
                             -------  -------      --------  --------
Interest income:
 Interest and fees on
  loans and leases           $36,337  $39,967      $148,765  $152,723
 Interest on loans held                         
  for sale                       118      114           436       815
 Interest on deposits                           
  with banks                       3       42            82     1,123
 Interest and dividends                         
   on securities:                               
  Taxable                      2,428    3,157        10,177    13,989
  Exempt from federal                           
   income taxes                2,088    2,392         8,800    10,168
 Interest on federal                            
  funds sold                      56      437           585     2,157
                             -------  -------      --------  --------
   Total interest income      41,030   46,109       168,845   180,975
Interest expense:                               
 Interest on deposits          9,886   14,653        42,816    59,916
 Interest on short-term                         
  borrowings                   3,326    3,408        13,212    13,673
 Interest on long-term                          
  borrowings                   1,144      648         4,358     2,560
                             -------  -------      --------  --------
   Total interest                               
    expense                   14,356   18,709        60,386    76,149
                             -------  -------      --------  --------
    Net interest                                
     income                   26,674   27,400       108,459   104,826
 Provision for loan and                         
  lease losses                17,791    1,725        33,192     4,094
                             -------  -------      --------  --------
    Net interest income                         
     after provision                            
     for loan and lease                         
     losses                    8,883   25,675        75,267   100,732
Noninterest income:                             
 Securities gains                  1       15           663        43
 Service charges on                             
  deposit accounts             3,297    3,211        12,778    11,148
 Gains on sales of                              
  mortgage loans                 516      590         2,288     2,739
 Fees on sales of                               
  investment products            928      518         3,475     2,989
 Trust and investment                           
  management fees              2,201    2,581         9,483     9,588
 Insurance agency                               
  commissions                  1,183    1,203         5,908     6,625
 Income from bank owned                         
  life insurance                 719      732         2,902     2,829
 Visa check fees                 691      747         2,875     2,784
 Other income                  1,437    1,783         5,871     5,544
                             -------  -------      --------  --------
   Total noninterest                            
    income                    10,973   11,380        46,243    44,289
Noninterest expenses:                           
 Salaries and employee                          
  benefits                    13,441   13,343        53,015    55,207
 Occupancy expense of                           
  premises                     2,612    2,288        10,762    10,360
 Equipment expenses            1,642    1,829         6,156     6,563
 Marketing                       652      674         2,163     2,237
 Outside data services         1,054    1,094         4,373     3,967
 Amortization of                                
  intangible assets            1,103    1,124         4,447     4,080
 Goodwill impairment                            
  loss                         1,909        0         4,159         0
 Other expenses                4,820    4,964        17,014    17,374
                             -------  -------      --------  --------
   Total noninterest                            
    expenses                  27,233   25,316       102,089    99,788
                             -------  -------      --------  --------
 Income (loss) before                           
  income taxes                (7,377)  11,739        19,421    45,233
 Income tax expense                             
  (benefit)                   (3,941)   3,372         3,642    12,971
                             -------  -------      --------  --------
    Net income (loss)         (3,436)  $8,367       $15,779   $32,262
 Preferred stock                                
  dividends and discount                        
  accretion                      334        0           334         0
                             -------  -------      --------  --------
    Net income (loss)                           
     available to common                        
     shareholders            $(3,770)  $8,367       $15,445   $32,262
                             =======  =======      ========  ========
                                                
 Basic net income (loss)                        
  per share                   $(0.21)   $0.51         $0.96     $2.01
 Basic net income (loss)                        
  per common share             (0.23)    0.51          0.94      2.01
 Diluted net income                             
  (loss) per share             (0.21)    0.51          0.96      2.01
 Diluted net income                             
  (loss) per common                             
  share                        (0.23)    0.51          0.94      2.01
 Dividends declared per                         
  common share                  0.24     0.23          0.96      0.92


Sandy Spring Bancorp, Inc. and Subsidiaries
Historical Trends
in Quarterly Financial
Data (Unaudited)                            2008                   
(Dollars in thousands,  ---------------------------------------------
except per share data)      Q4          Q3         Q2          Q1   
---------------------------------------------------------------------
Profitability for
 the quarter:                     
Tax-equivalent                  
 interest income         $42,194     $43,228     $42,906     $45,062
Interest expense          14,356      13,961      14,726      17,343
Tax-equivalent net                                      
 interest income          27,838      29,267      28,180      27,719
 Tax-equivalent                                          
  adjustment               1,164       1,180       1,061       1,140
Provision for loan                                      
 and lease losses         17,791       6,545       6,189       2,667
Noninterest income        10,973      10,879      11,695      12,696
Noninterest expenses      27,233      25,267      24,886      24,703
Income (loss) before                                    
 income taxes             (7,377)      7,154       7,739      11,905
Income tax expense                                      
 (benefit)                (3,941)      1,795       2,088       3,700
Net Income (loss)         (3,436)      5,359       5,651       8,205
Net Income (loss)                                       
 available to common                                    
 shareholders             (3,770)      5,359       5,651       8,205
=====================================================================
Financial ratios:                                        
Return on average                                       
 assets                   (0.42)%       0.67%       0.73%       1.07%
Return on average                                       
 common equity            (4.70)%       6.64%       7.09%      10.45%
Net interest margin         3.73%       4.02%       3.96%       3.99%
Efficiency ratio -                                      
 GAAP*                     72.34%      64.84%      64.11%      62.90%
Efficiency ratio -                                      
 Non-GAAP *                62.41%      58.27%      59.73%      59.18%
=====================================================================
Per share data:                                          
Basic net income                                        
 (loss) per share         $(0.21)      $0.33       $0.35       $0.50
Basic net income                                        
 (loss) per common                                       
 share                    $(0.23)      $0.33       $0.35       $0.50
Diluted net income                                      
 (loss) per share         $(0.21)      $0.33       $0.34       $0.50
Diluted net income                                      
 (loss) per common                                      
 share                    $(0.23)      $0.33       $0.34       $0.50
Dividends declared                                      
 per common share          $0.24       $0.24       $0.24       $0.24
Book value per                                          
 common share             $19.05      $19.51      $19.56      $19.50
Average fully                                           
 diluted shares       16,434,214  16,418,588  16,427,213  16,407,778
=====================================================================
Noninterest income                                       
 breakdown:                                               
Securities gains              $1          $9         $79        $574
Service charges on                                      
 deposit accounts          3,297       3,249       3,202       3,030
Gains on sales of                                       
 mortgage loans              516         397         653         722
Fees on sales of                                        
 investment products         928         820         905         822
Trust and investment                                     
 management fees           2,201       2,380       2,505       2,397
Insurance agency                                        
 commissions               1,183       1,282       1,357       2,086
Income from bank                                        
 owned life                                             
 insurance                   719         742         727         714
Visa check fees              691         727         761         696
Other income               1,437       1,273       1,506       1,655
 Total                    10,973      10,879      11,695      12,696
=====================================================================
Noninterest expense                                      
 breakdown:                                               
Salaries and                                            
 employee benefits       $13,441     $11,949     $13,862     $13,763
Occupancy expense of                                    
 premises                  2,612       2,732       2,619       2,799
Equipment expenses         1,642       1,515       1,560       1,439
Marketing                    652         526         488         497
Outside data                                            
 services                  1,054       1,116       1,081       1,122
Amortization of                                         
 intangible assets         1,103       1,103       1,117       1,124
Goodwill impairment                                     
 loss                      1,909       2,250           0           0
Other expenses             4,820       4,076       4,159       3,959
 Total                    27,233      25,267      24,886      24,703
                                                        


                                            2007                   
(Dollars in thousands,  ---------------------------------------------
except per share data)      Q4          Q3         Q2          Q1   
---------------------------------------------------------------------
Profitability for                                        
 the quarter:                                             
Tax-equivalent                                          
 interest income         $47,519     $48,405     $47,378     $43,179
Interest expense          18,709      19,746      19,815      17,879
Tax-equivalent net                                      
 interest income          28,810      28,659      27,563      25,300
 Tax-equivalent                                          
  adjustment               1,410       1,447       1,364       1,285
Provision for loan                                      
 and lease losses          1,725         750         780         839
Noninterest income        11,380      11,130      10,873      10,906
Noninterest expenses      25,316      25,899      24,959      23,614
Income (loss) before                                    
 income taxes             11,739      11,693      11,333      10,468
Income tax expense                                      
 (benefit)                 3,372       3,512       3,164       2,923
Net Income (loss)          8,367       8,181       8,169       7,545
Net Income (loss)                                       
 available to common                                    
 shareholders              8,367       8,181       8,169       7,545
=====================================================================
Financial ratios:                                        
Return on average                                       
 assets                     1.10%       1.08%       1.10%       1.12%
Return on average                                       
 common equity             10.69%      10.55%      11.45%      11.96%
Net interest margin         4.19%       4.16%       4.08%       4.07%
Efficiency ratio -                                      
 GAAP*                     65.28%      67.55%      67.33%      67.62%
Efficiency ratio -                                      
 Non-GAAP *                60.22%      62.30%      62.26%      63.01%
=====================================================================
Per share data:                                          
Basic net income                                        
 (loss) per share          $0.51       $0.50       $0.51       $0.49
Basic net income                                        
 (loss) per common                                      
 share                     $0.51       $0.50       $0.51       $0.49
Diluted net income                                      
 (loss) per share          $0.51       $0.50       $0.51       $0.49
Diluted net income                                      
 (loss) per common                                      
 share                     $0.51       $0.50       $0.51       $0.49
Dividends declared                                      
 per common share          $0.23       $0.23       $0.23       $0.23
Book value per                                          
 common share             $19.31      $18.92      $18.62      $17.51
Average fully                                           
 diluted shares       16,422,161  16,508,922  16,069,771  15,400,865
=====================================================================
Noninterest income                                       
 breakdown:                                               
Securities gains             $15         $22          $4          $2
Service charges on                                      
 deposit accounts          3,211       2,999       2,630       2,308
Gains on sales of                                       
 mortgage loans              590         738         773         638
Fees on sales of                                        
 investment products         518         765         906         800
Trust and investment                                    
 management fees           2,581       2,365       2,361       2,281
Insurance agency                                        
 commissions               1,203       1,294       1,438       2,690
Income from bank                                        
 owned life                                             
 insurance                   732         720         693         684
Visa check fees              747         730         717         590
Other income               1,783       1,497       1,351         913
 Total                    11,380      11,130      10,873      10,906
=====================================================================
Noninterest expense                                      
 breakdown:                                               
Salaries and                                            
 employee benefits       $13,343     $14,654     $13,776     $13,434
Occupancy expense of                                    
 premises                  2,288       2,946       2,709       2,417
Equipment expenses         1,829       1,631       1,501       1,602
Marketing                    674         359         675         529
Outside data                                            
 services                  1,094         870       1,077         926
Amortization of                                         
 intangible assets         1,124       1,123       1,031         802
Goodwill impairment                                     
 loss                          0           0           0           0
Other expenses             4,964       4,316       4,190       3,904
 Total                    25,316      25,899      24,959      23,614
                                                         
                                                         
* The GAAP efficiency ratio is noninterest expenses divided by net
  interest income plus noninterest income from the Consolidated
  Statements of Income. The non-GAAP efficiency ratio excludes
  intangible asset amortization expenses from noninterest expenses;
  excludes security gains from noninterest income; and adds the
  tax-equivalent adjustment to net interest income.  See the
  Reconciliation Table included with these Historical Trends in
  Quarterly Financial Data.

Sandy Spring Bancorp, Inc. and Subsidiaries
Historical Trends in
Quarterly Financial Data
 (Unaudited)                                                     2008
(Dollars in thousands,   --------------------------------------------
 except per share data)          Q4          Q3         Q2         Q1
---------------------------------------------------------------------
Balance sheets at
 quarter end:
Residential mortgage loans $457,571    $452,815  $ 461,000   $459,768
Residential construction
 loans                      189,249     221,630    199,602    183,690
Commercial mortgage loans   847,452     804,728    752,905    732,692
Commercial construction
 loans                      223,169     247,930    273,059    256,714
Commercial loans and
 leases                     366,978     358,097    356,256    354,509
Consumer loans              406,227     397,218    386,126    376,650
  Total loans and leases  2,490,646   2,482,418  2,428,948  2,364,023
  Less: allowance for loan
   and lease losses         (50,526)    (38,266)   (33,435)   (27,887)
  Net loans and leases    2,440,120   2,444,152  2,395,513  2,336,136
Goodwill                     76,248      75,701     78,376     78,111
Other intangible
 assets, net                 12,183      13,286     14,390     15,507
Total assets              3,313,638   3,195,117  3,164,123  3,160,896
Total deposits            2,365,257   2,248,812  2,294,791  2,340,568
Customer repurchase
 agreements                  75,106      77,630     93,919    101,666
Total stockholders' equity  391,862     319,700    320,218    318,967
=====================================================================
Quarterly average
 balance sheets:
Residential mortgage loans $457,956    $463,778   $462,858   $463,597
Residential construction
 loans                      208,616     210,363    193,822    174,626
Commercial mortgage loans   833,752     779,652    733,905    690,289
Commercial construction
 loans                      236,176     253,806    261,360    266,098
Commercial loans and leases 361,731     356,327    359,287    351,862
Consumer loans              400,937     391,640    380,911    378,261
  Total loans and leases  2,499,168   2,455,566  2,392,143  2,324,733
Securities                  431,858     423,082    431,182    427,819
Total earning assets      2,972,173   2,898,968  2,862,012  2,795,453
Total assets              3,235,432   3,167,145  3,134,440  3,072,428
Total interest-bearing
 liabilities              2,405,890   2,363,299  2,344,266  2,311,629
Noninterest-bearing
 demand deposits            458,538     453,281    441,330    412,369
Total deposits            2,305,880   2,264,990  2,306,867  2,260,837
Customer repurchase
 agreements                  84,012      81,158     92,968     94,841
Stockholders' equity        342,639     321,028    320,409    315,755
======================================================================
Capital and credit
 quality measures:
Average equity to average
 assets                      10.59%      10.14%     10.22%     10.28%
Allowance for loan and
 lease losses to loan
  and leases                  2.03%       1.54%      1.38%      1.18%
Nonperforming assets to
 total assets                 2.18%       2.14%      2.05%      1.48%
Annualized net charge-offs
 (recoveries) to
 average loans and leases     0.88%       0.28%      0.11%    (0.02)%
=====================================================================
Miscellaneous data:
Net charge-offs
 (recoveries)                $5,531      $1,714       $642     ($129)
Nonperforming assets:
  Non-accrual loans and
   leases                    67,950      64,246     60,373     37,353
  Loans and leases 90 days
   past due                   1,038       2,074      2,538      8,244
  Restructured loans
   and leases                   395         395        655        655
  Other real estate owned,
   net                        2,860       1,698      1,352        661
    Total nonperforming
    assets                   72,243      68,413     64,918     46,913
======================================================================


                                                2007
(Dollars in thousands,   ---------------------------------------------
 except per share data)           Q4         Q3         Q2         Q1
----------------------------------------------------------------------
Balance sheets at
  quarter end:
Residential mortgage loans  $456,305   $439,091   $427,252   $404,177
Residential construction
 loans                       166,981    154,908    154,444    144,744
Commercial mortgage loans    662,837    645,790    660,004    621,692
Commercial construction
 loans                       262,840    246,569    236,278    225,108
Commercial loans and leases  351,773    343,653    316,409    282,854
Consumer loans               376,295    371,588    370,621    357,607
  Total loans and leases   2,277,031  2,201,599  2,165,008  2,036,182
  Less: allowance for loan
   and lease losses          (25,092)   (23,567)   (23,661)   (22,186)
    Net loans and leases   2,251,939  2,178,032  2,121,347  2,013,996
Goodwill                      76,585     76,625     77,457     53,913
Other intangible
 assets, net                  16,630     17,754     18,878     15,244
Total assets               3,043,953  2,965,492  3,101,409  2,945,477
Total deposits             2,273,868  2,280,102  2,386,226  2,274,322
Customer repurchase
 agreements                   98,015    122,130    113,622    114,712
Total stockholders' equity   315,640    310,624    306,255    275,319
=====================================================================
Quarterly average balance
 sheets:
Residential mortgage loans  $453,568   $441,190   $426,496   $406,886
Residential construction
 loans                       163,922    151,306    151,785    151,194
Commercial mortgage loans    649,101    647,659    630,335    565,277
Commercial construction
 loans                       252,705    244,975    239,299    203,371
Commercial loans and leases  339,744    323,439    300,325    246,218
Consumer loans               374,572    370,585    362,221    353,668
  Total loans and leases   2,233,612  2,179,154  2,110,461  1,926,614
Securities                   451,168    458,984    523,507    551,566
Total earning assets       2,725,801  2,733,572  2,711,225  2,518,797
Total assets               3,006,086  3,019,065  2,979,820  2,743,890
Total interest-bearing
 liabilities               2,222,387  2,214,606  2,212,376  2,048,323
Noninterest-bearing demand
 deposits                    439,967    463,018    450,887    408,954
Total deposits             2,283,122  2,340,004  2,290,413  2,099,409
Customer repurchase
 agreements                  112,828    113,425    109,187    101,805
Stockholders' equity         310,605    307,564    286,040    255,781
=====================================================================
Capital and credit
 quality measures:
Average equity to average
 assets                       10.33%     10.19%      9.60%      9.32%
Allowance for loan and
 lease losses to loan
 and leases                    1.10%      1.07%      1.09%      1.09%
Nonperforming assets
 to total assets               1.15%      0.87%      0.71%      0.24%
Annualized net charge-offs
 (recoveries) to average
 loans and leases              0.04%      0.16%      0.05%      0.00%
=====================================================================
Miscellaneous data:
Net charge-offs
(recoveries)                    $200       $844       $265       ($17)
Nonperforming assets:
  Non-accrual loans and
   leases                     23,040     17,362     18,818      1,982
  Loans and leases 90 days
   past due                   11,362      8,009      3,347      5,084
  Restructured loans and
   leases                          0          0          0          0
  Other real estate
   owned, net                    461        431          0          0
    Total nonperforming
    assets                    34,863     25,802     22,165      7,066
======================================================================

Sandy Spring Bancorp, Inc. and Subsidiaries
CONSOLIDATED AVERAGE BALANCES, YIELDS AND RATES (Unaudited)
(Dollars in thousands and tax-equivalent)

                                       Three Months Ended December
                                   ----------------------------------
                                                 2008
                                   ----------------------------------
                                                           Annualized
                                    Average                Average
                                    Balances   Interest    Yield/Rate
                                   ---------   --------    ----------
Assets
Residential mortgage loans          $457,956    $ 6,976         6.09 %
Residential construction loans       208,616      2,857         5.45
Commercial mortgage loans            833,752     13,494         6.44
Commercial construction loans        236,176      2,718         4.58
Commercial loans and leases          361,731      5,638         6.21
Consumer loans                       400,937      4,771         4.73
                                   ---------   --------
  Total loans and leases           2,499,168     36,454         5.81
Securities*                          431,858      5,680         5.19
Interest-bearing deposits with banks     515          3         2.71
Federal funds sold                    40,632         56         0.54
                                   ---------   --------
TOTAL EARNING ASSETS               2,972,173     42,193         5.65 %

Less:  allowance for loan and
 lease losses                        (41,204)
Cash and due from banks               50,963
Premises and equipment, net           52,092
Other assets                         201,408
                                  ----------
      Total assets                $3,235,432
                                  ==========

Liabilities and Stockholders' Equity
Interest-bearing demand deposits    $236,609       $143        0.24 %
Regular savings deposits             144,275         90        0.25
Money market savings deposits        636,628      2,487        1.55
Time deposits                        829,830      7,166        3.44
                                   ---------   --------
  Total interest-bearing deposits  1,847,342      9,886        2.13
Borrowings                           558,548      4,470        3.19
                                   ---------   --------
TOTAL INTEREST-BEARING LIABILITIES 2,405,890     14,356        2.38
                                               --------    --------

Noninterest-bearing demand deposits  458,538
Other liabilities                     28,365
Stockholder's equity                 342,639
                                   ---------
    Total liabilities and
     stockholders' equity         $3,235,432
                                   =========

Net interest income and spread on
 a fully tax equivalent basis                    27,837        3.27 %
                                                           ========
   Less: tax equivalent adjustment                1,164
                                               --------
 Net interest income                             26,673
                                               ========

Interest income/earning assets                                 5.65 %
Interest expense/earning assets                                1.92
                                                           --------
    Net interest margin                                        3.73 %

Sandy Spring Bancorp, Inc. and Subsidiaries
CONSOLIDATED AVERAGE BALANCES, YIELDS AND RATES (Unaudited)
(Dollars in thousands and tax-equivalent)

                                      Three Months Ended December
                                 ------------------------------------
                                              2007
                                 ------------------------------------
                                                           Annualized
                                 Average                    Average
                                 Balances    Interest     Yield/Rate
                                 --------    --------     -----------
Assets
Residential mortgage loans       $453,568     $ 7,130          6.29 %
Residential construction loans    163,922       2,817          6.82
Commercial mortgage loans         649,101      11,642          7.12
Commercial construction loans     252,705       5,226          8.20
Commercial loans and leases       339,744       6,892          8.06
Consumer loans                    374,572       6,374          6.75
                                 --------    --------
  Total loans and leases        2,233,612      40,081          7.13
Securities*                       451,168       6,959          6.07
Interest-bearing deposits with
 banks                              3,557          42          4.64
Federal funds sold                 37,464         437          4.62
                                 --------    --------
TOTAL EARNING ASSETS            2,725,801      47,519          6.92 %

Less:  allowance for loan and
 lease losses                     (23,791)
Cash and due from banks            53,839
Premises and equipment, net        55,033
Other assets                      195,204
                                 --------
      Total assets             $3,006,086
                               ==========

Liabilities and Stockholders'
 Equity
Interest-bearing demand deposits $236,251        $182          0.31 %
Regular savings deposits          153,791         114          0.29
Money market savings deposits     735,526       6,460          3.48
Time deposits                     717,587       7,897          4.37
                                ---------    --------
  Total interest-bearing
   deposits                     1,843,155      14,653          3.15
Borrowings                        379,232       4,056          4.25
                                ---------    --------

TOTAL INTEREST-BEARING
  LIABILITIES                   2,222,387      18,709          3.34
                                             --------



Noninterest-bearing demand
 deposits                         439,967
Other liabilities                  33,127
Stockholder's equity              310,605
                                 --------
    Total liabilities and
     stockholders' equity     $ 3,006,086
                              ===========

Net interest income and spread on
 a fully tax equivalent basis                  28,810          3.58 %
                                                          =========
   Less: tax equivalent adjustment              1,410
                                             --------

 Net interest income                           27,400
                                             ========

Interest income/earning assets                                6.92 %
Interest expense/earning assets                               2.73

                                                          ---------
    Net interest margin                                       4.19 %
                                                          =========


*Interest income includes the effects of annualized taxable-
 equivalent adjustments (reduced by the nondeductible portion of
 interest expense) using the appropriate marginal federal income tax
 rate of 35.00% and, where applicable, the marginal state income tax
 rate of 7.51% (or a combined marginal federal and state rate of
 39.88%) for 2008 and a marginal state income tax rate of 6.55% (or
 a combined marginal federal and state rate of 39.26%) for 2007, to
 increase tax-exempt interest income to a taxable-equivalent basis. 
 The annualized taxable-equivalent adjustment amounts utilized in
 the above table to compute yields aggregated to $4.6 million in
 2008 and $5.6 million in 2007

Sandy Spring Bancorp, Inc. and Subsidiaries
CONSOLIDATED AVERAGE BALANCES, YIELDS AND RATES (Unaudited)
(Dollars in thousands and tax-equivalent)

                                      Twelve Months Ended December 31,
                                     --------------------------------
                                                  2008
                                     --------------------------------
                                                           Annualized
                                      Average               Average
                                      Balances   Interest  Yield/Rate
                                      -------------------------------
Assets
Residential mortgage loans            $463,853    $28,547      6.15 %
Residential construction loans         196,926     11,585      5.88
Commercial mortgage loans              759,658     50,699      6.67
Commercial construction loans          254,309     13,859      5.45
Commercial loans and leases            357,311     24,007      6.72
Consumer loans                         387,983     20,503      5.28
                                    ----------   --------
  Total loans and leases             2,420,040    149,200      6.17
Securities*                            428,479     23,522      5.49
Interest-bearing deposits with banks     3,213         82      2.55
Federal funds sold                      30,711        585      1.90
                                     ---------   --------
TOTAL EARNING ASSETS                 2,882,443    173,389      6.02 %

Less:  allowance for loan and
 lease losses                          (32,629)
Cash and due from banks                 49,981
Premises and equipment, net             53,207
Other assets                           199,584
                                    ----------
      Total assets                  $3,152,586
                                    ==========

Liabilities and Stockholders' Equity
Interest-bearing demand deposits      $242,848       $671      0.28 %
Regular savings deposits               153,123        455      0.30
Money market savings deposits          669,239     12,247      1.83
Time deposits                          777,979     29,443      3.78
                                     ---------   --------
  Total interest-bearing deposits    1,843,189     42,816      2.32
Borrowings                             513,237     17,570      3.42
                                     ---------   --------
TOTAL INTEREST-BEARING LIABILITIES   2,356,426     60,386      2.56
                                                 --------  ----------


Noninterest-bearing demand deposits    441,459
Other liabilities                       29,706
Stockholder's equity                   324,995
                                     ---------
    Total liabilities and
     stockholders' equity           $3,152,586
                                    ==========

Net interest income and spread on
 a fully tax equivalent basis                     113,003      3.46 %
                                                           ========
   Less: tax equivalent adjustment                  4,545
                                                 --------

 Net interest income                              108,458
                                                 ========

Interest income/earning assets                                 6.02 %
Interest expense/earning assets                                2.10
                                                           --------
  Net interest margin                                          3.92 %
                                                           ========

                                   Twelve Months Ended December 31,
                                 ------------------------------------
                                              2007
                                 ------------------------------------
                                                           Annualized
                                  Average                  Average
                                 Balances     Interest     Yield/Rate
                                 ---------    --------     ----------
Assets
Residential mortgage loans        $431,563     $26,394         6.12 %
Residential construction loans     154,578      11,047         7.15
Commercial mortgage loans          624,080      44,992         7.21
Commercial construction loans      235,250      20,828         8.85
Commercial loans and leases        302,671      24,910         8.23
Consumer loans                     365,334      25,367         6.94
                                 ---------    --------
  Total loans and leases         2,113,476     153,538         7.26
Securities*                        495,928      29,663         5.98
Interest-bearing deposits
 with banks                         21,600       1,123         5.20
Federal funds sold                  42,305       2,157         5.10
                                 ---------    --------
TOTAL EARNING ASSETS             2,673,309     186,481         6.98 %

Less:  allowance for loan and
 lease losses                      (22,771)
Cash and due from banks             54,294
Premises and equipment, net         52,604
Other assets                       178,015
                                ----------
      Total assets              $2,935,451
                                ==========

Liabilities and Stockholders'
 Equity
Interest-bearing demand deposits  $236,940        $808         0.34 %
Regular savings deposits           165,134         535         0.32
Money market savings deposits      643,047      23,809         3.70
Time deposits                      768,005      34,764         4.53
                                 ---------    --------
  Total interest-bearing
   deposits                      1,813,126      59,916         3.30
Borrowings                         361,884      16,233         4.49
                                 -----------   -------

TOTAL INTEREST-BEARING
 LIABILITIES                     2,175,010      76,149         3.50
                                              --------     --------



Noninterest-bearing demand
 deposits                          440,853
Other liabilities                   29,364
Stockholder's equity               290,224
                                 ---------
    Total liabilities and
     stockholders' equity       $2,935,451
                                ==========

Net interest income and spread
 on a fully tax equivalent basis               110,332         3.48 %
                                                           ========
   Less: tax equivalent adjustment               5,506
                                              --------

 Net interest income                           104,826
                                              ========

Interest income/earning assets                                 6.98 %
Interest expense/earning assets                                2.85
                                                           --------
    Net interest margin                                        4.13 %
                                                           ========


*Interest income includes the effects of annualized taxable-equivalent
adjustments (reduced by the nondeductible portion of interest expense)
using the appropriate marginal federal income tax rate of 35.00% and,
where applicable, the marginal state income tax rate of 7.51% (or a
combined marginal federal and state rate of 39.88%) for 2008 and a
marginal state income tax rate of 6.55% (or a combined marginal
federal and state rate of 39.26%) for 2007, to increase tax-exempt
interest income to a taxable-equivalent basis. The annualized
taxable-equivalent adjustment amounts utilized in the above table to
compute yields aggregated to $4.5 million in 2008 and $5.5 million in
2007

CONTACT:  Sandy Spring Bancorp, Inc.
         Daniel J. Schrider, President & Chief Executive Officer
           DSchrider@sandyspringbank.com
         Philip J. Mantua, Executive V.P. & Chief Financial Officer
           PMantua@sandyspringbank.com
         1-800-399-5919
         www.sandyspringbank.com
         17801 Georgia Avenue
         Olney, Maryland 20832

Loan Payment Protection Insurance Safeguards Your Repayments

2008-06-28T06:24:00.000-07:00

Author: Simon Burgess

Loan payment protection insurance is just one of a family of protection policies that can be taken out to help you get through tough times such as unemployment, illness or sickness which means a loss of income. If you did lose your income you would still have bills to pay. Of course you could apply for State benefits, but in some cases this might not provide enough money to pay all your essential outgoings, it might not even be enough to keep food on the table.

You would have to consider how you were going to provide for your family, pay your heating and lightening bills, your mortgage and of course any loan or credit card payments that you had to make each month. A loan payment protection policy would provide you with the money you needed to be able to carry on paying your lender.

For a fixed premium each month based on your age and how much of your payment you wanted to protect you could have peace of mind. The policy would provide you with the sum you insured against if you should have to take time away from work due to an accident or sickness. It would also provide for you if you should become a victim of unemployment by such as redundancy. Cover would mean that you would be able to concentrate on making a recovery from your illness or accident. If you were unemployed it would give you the breathing space needed to be able to look around for work. Jobs are hard enough to come by and of course you would want one that paid an income equivalent to the one you lost.

Loan payment protection insurance can be added into the cost of borrowing when taking on the loan. High street lenders will try to push their protection onto you and some may even suggest that the loan depends on it. You always have the choice of being able to shop around for your protection and buy it independently from a specialist provider. By choosing to buy cover as a standalone policy you will pay a premium for the cover alone. If you have it added into the loan when borrowing sometimes the total cost of protection is added on and then interest is added onto the loan on top. This means you are not only paying interest for the borrowing, but also the protection for it.

Specialist payment protection providers can save you an enormous amount of money while at the same time providing you with quality cover. When shopping around for your loan payment protection insurance you have to check not only how much the premiums would cost but also the terms and conditions. Some providers offer protection that would begin to provide you with a replacement income to cover your loans from 30 days. However some ask that you wait for anything up to 90 days. A policy can run for 12 months or some providers will extend this for up to 24 months. All policies only pay out for a certain amount of time and then they cease, so always check before buying.

Source: http://www.articlesbase.com/

Cash Advance Payday Loans – Keep Hassles Aside For Instant Money

2008-06-28T06:08:00.000-07:00

An emergency situation can crop up anytime. For salaried people, however, coping up with some urgent bills becomes little difficult, especially when the salary cheque is all spent by the mid of a month. But they also have the option of taking out cash advance payday loans, if finding out timely help from relatives or neighbors is difficult. Make sure that the borrowed amount is less burdensome for avoiding the debts.

You can borrow £100 to £1500 against a post-dated cheque that you write to the lender, including the loaned amount and interest charges. In turn, the lenders electronically deposit the loan amount in the borrowers’ bank checking account, usually within 24 hours. Approval of the loan comes for 14 days, until your next payday, implying that you will repay it on that day. If you choose to rollover the loan for few more weeks, then you need to make the interest payments and in that case the lender will hold back the post-dated cheque.

The only major parameter in taking out cash advance payday loans is that the applicant must be serving the existing job he or she is in, for at least past six months, and gets a fixed and monthly salary. There should also be a bank checking account in the applicant’s name.

You can borrow the urgent money with any fear of the lenders running a credit check, as no such checks are done even on the people with bad credit history of late payments, arrears and payment defaults.

Irrespective of good or bad credit history, however, interest rates on these loans go very high, making the salaried people pay good amount of interest from next salary cheque. Avoid any delayed repayment as it will only increase burden on you. Some offers of cash advance payday loans can also be cited at competitive rates on browsing the internet. Look for terms-conditions of such offers. Make the repayment without delaying it.

Source: http://www.articlesnatch.com

Instant cash loans UK: Borrowers can stay financially relieved

2008-06-27T06:11:00.000-07:00

Dealing with an urgent monetary requirement in the middle of the month is quite troublesome for all salaried individual, as all conventional loan procedures take long duration to get approved and sanctioned. On the other hand, people also do not like to ask for any financial help from relatives and friends because money usually spoils the relationships. Hence, to tackle such distressful situations, we now have the facility of instant cash loans UK. These loans are conveniently customized with quick processing mechanism and easy terms and conditions, so that people in desperate need of money can relax with the presence of this loan service.

Instant cash loans UK are specifically crafted for solving immediate cash problems. These loans are basically classified as short terms loans and are available under both the categories of secured and unsecured loans. Hence, all those borrowers who have the provision of collateral can opt for the secured form, whereas those who do not wish to put their property at stake can solve their deplorable economic problems with the unsecured range. However, a marginal difference can be seen between the rates of interest applied on these forms. On an average, instant cash loans UK offer an amount ranging from £100 to £1000 with the repayment duration of 2 to 4 weeks. Another thing that is important to be mentioned here is that these loans usually carry a higher rate of interest in comparison to the other traditional loans but if you are ready to conduct good, productive market research then your chances of getting this loan plan at affordable rate of interest increases.

The entire range of this loan assistance is widely open for all sorts of borrowers including the category of bad credit holders who are suffering from the miserable consequences of defaults, arrears, CCJs, and bankruptcy. In fact, by placing decent collateral, these low credit scorers can actually have the advantage of acquiring huge monetary support through this loan service. Instant cash loans UK are widely available with all financial institutions including banks and private money lending agencies. However, to find the reliable lenders, you should consider the easily accessible resources of finance consultancies and loan directories. Moreover, many finance websites can also offer you qualitative information about these loans and lenders dealing in these options. In fact, the same source of corporate finance website can be used for placing your demand of free quotations.

Now, any kind of emergency or immediate financial need can be met with instant cash loans UK. Hence, all those borrowers who are constantly reducing their expenses and curbing their major financial demands for saving a good amount of funds to surpass urgent monetary crisis can now take a sigh of relief. Any kind of economically challenging situation can be easily resolved with the assistance of these loans. So, if you also have a basic requirement of buying a car, filling your tax returns or paying your child's higher education fees then undoubtedly move ahead with this loan option as they are faster in approval and sanction procedure.

Source: http://www.articlesnatch.com

Quick cash loans online: instant financial loans for emergencies

2008-06-26T06:17:00.000-07:00

A need for sudden finance can crop up in any individual's life, especially if he is a salaried person with a fixed source of income and budget for each month. Any unplanned expenditure or financial emergency like a medical treatment can bring about a financial crisis which needs to be met with instant supply of funds. Such immediate cash access can be achieved through the specific loan schemes which many lenders in the financial market offer to potential borrowers, looking for quick, short term funds. The quick cash loans online are one such loan category which are ideal for the purpose of meeting fund shortage for a short duration of a week or two. The loans are applied for through the online medium, as the name suggests, and can even be approved, transferred and repaid electronically, to save the time and effort of the borrower.

Most of the quick cash loans online are payday loans, which are provided to sustain the borrower in a financial crisis in between two consecutive paydays. The loan amount of the quick cash loans online, help to meet financial expenditures which are crucial and cannot be delayed or postponed till the next payday of the borrower. As and when the need arises, the potential borrower can research some reliable lenders in his area and compare the various rates offered on the cash loans, to select a suitable lender and loan plan to meet his financial needs. Once such selection is made, the borrower applies through the online application form, available at the lender's website, by filling in basic personal and employment details. Most of these loans do not require a credit verification of the borrower and hence, even individuals with a bad credit history can apply for these loans easily.

When the lender receives the loan application for the quick cash loans online, he verifies the information provided on the application form by promptly getting in touch with the borrower. The approval decision on the loan plan is also, instantly given to further speed up the transaction and enable the borrower to get immediate access to the required funds. The funds are usually transferred to the borrower's account within 24 hours of the loan approval, enabling him to pay for any financial emergency which may have cropped up.

The repayment for the quick cash loans are equally convenient and are conducted electronically again. The borrower only needs to provide a post dated cheque to the lender at the time of loan approval, which gets credited on the date of next payday of the borrower. The borrower only needs to ensure that he has sufficient funds in his account on the date of repayment to avoid the non repayment of the cash loans, which could then adversely affect his credit ranking and incur penalty from the lender. So, whenever a need for immediate funds arises for a short term requirement, any individual can meet the expenses with such instant cash loans and meet any financial requirement at any time.

Source: http://www.articlesnatch.com

Tax and Cash Flow Benefits of Leasing Medical Equipment

2008-06-24T06:30:00.000-07:00

Author: Kent Harlan

As medical technology is ever changing and new equipment enhancements are developed, renting equipment is a logical choice for a variety of reasons. Medical equipment leasing can keep their balance sheet intact, as monthly equipment lease payments can be classified as operating expenses. This would also allow the provider to benefit from tax deductibility.

According to industry research, over $3 billion of medical equipment was leased last year in the United States. In its simplest form, the lessor purchases the equipment and then rents it to the lessee. At the end of the lease term, the lessee has the following choices:

Buy the equipment
Re-lease the equipment
Rent new equipment
Return the equipment

The worth of medical equipment does not come from owning it, but rather from the results of its use. With renting, there are no large down payments so the lessee's capital reserve remains intact. Equipment is also more easily attainable than from bank financing, which requires extensive documentation and even personal guarantees. Most any piece of medical equipment can be leased, including CT scans, surgery tools, lab testing machines, x-ray machines, heart rate monitors, and sonograms.

Other benefits from leasing medical equipment:

Flexibility: As the provider's practice grows and equipment technology increases, leasing allows for the owner to easily add-on or upgrade their package. It is important to build in upgrade features at the inception of the lease. Also, installation and maintenance, and other services can be added to the lease.

Speed: As opposed to bank financing, leasing can provide the needed equipment in a matter of days. Typically, a one-page lease agreement is executed and approval can occur in a matter of hours. It often takes bank loan committees several weeks to approve an equipment loan.

Tax Advantages: An operating lease (also known as a true lease) generally allows the lessee to write off 100% of lease payments made during the year. The equipment write-off is tied to the lease term, which can be shorter than IRS depreciation schedules, resulting in larger tax deductions each year. The deduction is also the same every year, which simplifies budgeting.

Keeping equipment at a state of the art level: As mentioned previously, structuring an add-on or upgrade provision in the lease is critical due to the ever-changing technological advances in healthcare. Adding these clauses in the lease agreement lessens the peril of being stuck with outdated equipment. Maintains capital reserves: Leasing allows you to buy the equipment and tools you need today while spreading out all the payments over time. This provides you with a cash reserve for day to day expenses. Since a true lease is not a long term obligation, it will not show up on your balance sheet, so the company will be more attractive to a conventional lender when or if one is needed in the future.

A physician starting a practice or even acquiring one can benefit from entering into an equipment lease. Purchasing a medical equipment package can cost several hundred thousand dollars and put the provider behind the eight ball from the very beginning. Not only can medical equipment leasing alleviate that dilemma; it also provides budgetary, tax, cash flow, and upgrade benefits that can allow the provider to flourish for years to come.

Source: http://www.articlesbase.com/

Which Is The Better Option; Car Leasing Or Car Buying?

2008-06-23T06:39:00.000-07:00

By: Mark Robinson

Buying or leasing; this is a dilemma all people venturing to buy a car often faces. There is no steadfast rule stating which the better option is; however both have their share of advantages and disadvantages which have be considered before making the final decision.

The capital cost is one of the factors for choosing between leasing and buying. People who don’t have the capital to buy a car should consider leasing where you will only have to pay reasonable monthly installments. However if you can afford it, then you could consider buying a car either through an outright purchase or through a hire purchase scheme.

Though the hire purchase idea seems a good option, it is rather expensive as finance agreements are made here that have high percentage interest rates ranging between 20 – 25%. With this agreement, you may end up paying much more than the value of the vehicle at the end of the term.

By leasing a car, you don’t actually own the car at the end of the agreement; however it does cover most motor related costs that won’t get covered by a finance agreement with a dealership.

Buying your car may seem attractive; however you may suffer from high depreciation costs in the first 2 years where 20% of the value may be wiped out. Leased vehicles also suffer from the same problem but instead of you feeling the brunt of it, it is the leasing company that gets affected when they work at selling the car at the end of the lease.

On buying a car, remember that you will have to pay other costs for maintaining the car like insurance, car taxes, repairs and costs of damage or theft. Leased cars too face the same problems but as the leasing company is the stronger party here, overall costs are lower and are covered by the lease terms. And if your car is off the road, the leasing company also offers you a courtesy car. This offer is not available if you buy a car.

You could consider leasing a car to be a form of extended test drive for 2-3 years within which time; you get a feel of the vehicle and decide whether you want to buy the car at the end of the lease. However if you buy a car, you are stuck with it even if you find out that the car is not right for you. You could sell the car, but you lose in the process.

Though leasing cars seem to have most benefits, the largest benefit lies with buying cars where you are the sole owner of the car, and don’t have to use the car following the terms stated in an agreement. And if your financial position changes, you are still the owner of the car. With a leased car, you will be bound with the terms stated in the agreement. Some leasing companies charge large penalties if you terminate or change the contract halfway through the lease period.

So on comparing the advantages and disadvantages of leasing and buying cars, you have to decide which option is better depending on your financial capabilities and if you want to be a ‘full-time’ or ‘part-time’ owner of the car.

Link: http://www.isnare.com/

To Lease Or Not To Lease

2008-06-22T06:47:00.000-07:00

By: Paul Taylor

When you have finally decided what your business will be, what type of organization you will have (sole proprietorship, partnership, or corporation), and where you want your business to be located, the real work begins. You must now decide whether or not to lease or buy property. There are several factors to consider when determining which route you should take.

Of course, perhaps the biggest factor to consider is MONEY. It takes a lot of money or credit to purchase a building; money that could be used to purchase inventory, pay employees, or help you out during the slow times. But if you cannot afford or don’t want to purchase a building, the next option is to lease the property.

A lease is nothing more than a contract between an owner of real estate and the tenant. In legal jargon, the owner is called the lessor and the tenant is called the lessee. A lease is usually for a specified amount of time. The lease specifies how much the lessee will pay for the use of the property. There are several other stipulations that leases cover, such as what type of business can be on the property, who pays for repairs, when the rent is due, who pays the taxes, and many other aspects to a lease.

In most states, for a lease to be enforceable, it must be written and signed by both the lessor and the lessee. A verbal lease for one year or less may be enforceable, but it is better if all leases are written down. There should not be any disputes if the lease is in writing.

One type of lease that most retail stores use is a Net, Net, Net or NNN lease, also known as triple net leases. This means that the tenant will pay the taxes, insurance, utilities, and repairs. In a triple net lease, the tenant pays all expenses associated with the piece of property that is leased.

In any long-term lease, you should hire a lawyer to help you to negotiate the lease. Leases are not static; in other words, changes can be negotiated. Length of time, who pays for what expenses, amount of the rent, and what day the rent is due are all items that can be negotiated.

The first lease should never be more than a year in any small business. There are several factors to consider. Your business may not be successful in this location, and you do not want to be stuck in a lease that you cannot pay. A short lease also provides the opportunity to find out that you may need more space than you originally anticipated. If you are involved in a longer lease, you may not be able to expand when it is necessary.

Before considering signing any lease, talk to other tenants in the area about the amount of rent that is usually paid. Rent varies tremendously in certain areas, and you do not want to pay more for your lease than is typical for the area.

Signing a lease is a huge commitment. Do not take this step lightly. Check out the area that you want to be in. Ask questions of other business owners about the area. Talk with the people that will be shopping with you. In essence, “Do Your Homework.” Remember that if the location that you want does not feel right, it probably is not right.

This is your business; so do not let others try to convince you that this is the right place. You make the decision because you are the one that will pay the bills.

Link: http://www.isnare.com

Expecting the Necessary Approval for Your Home Loan

2007-11-13T04:05:00.000-08:00

By: Alan Lim

It is sometime very difficult to have the required money to pay for your home. This is usually the case of persons who have never had a home of theirs. If you are looking for money to purchase a home, follow these guidelines to get your home loan approved.

Do some comparative shopping

Inquire from several finance houses and see the best that can fashion out a repayment that will meet your finances. To pay for a reasonable home, you actually need to apply for a heavy home loan. It could be necessary that you seek information from your banker. Make every enquiry that you think can provide clarification to your doubts. Do not show any apprehension in the questions. These are what the mortgage officers are looking from potential debtors. You must be prudent in dealing with your finance. The home loan will be a weight to your finances and your finances are synonymous to your wellbeing.

Be sufficiently ready for questions

Every loan officer must investigate the feasibility that you can redeem your debt on time. They do this because their money is the live wire to their business. They need this money in order to provide the necessary home loan to others like you. You must for this reason prepare adequate answers for all anticipated questions.

Get a home loan form and study all the sections pertaining to the borrower. You can also possibly get information from those who have already taken out a home loan. Alternatively, if such a transaction is possible through your banker, it may be wise to ask him or her. After all two head are better than one, especially when one will be a finance expert.

Make A Genuine Pre-Estimate Of What You Need.

Getting your home loan approved requires a combination of relevant information and how prepared you are to bargain. Remember that a bank may be willing to give out the loan to you but not the amount you would want. To demonstrate the degree of how valuable a home loan is to you, devise a plan of action showing how you will disburse the money and a pre-payment plan.

Be exact in the amount needed, give a detail explanation of how you intend to spend the loan, tell of your alternative if the loan is not approved and provide a means of repayment. Persuade the creditors that your present income can redeem the debt of that the present and potential value of your home; or the equity you intend to build in the property will be more than the loan.

Be confident that your application will be approved

Do not sound desperate or begging to the home loan officer. Keep off any lack of enthusiasm from your countenance. You could make better your chances by presenting a certificate or any evidence of an increment in your finances status. Treat whatever dealings you are into as a business transaction. Thus, be prepared to get any response from it.

Are you in search of a mortgage loan? Home Loan is at your disposal. Check it out right away. You won’t be disappointed.

Article Source: http://www.ArticleBiz.com

Fixing Credit Report Errors.

2007-11-10T04:18:00.000-08:00

By: Mike Clover

After taking the first step of obtaining a free credit score report, the next most common step to improving your credit score is to correct any errors that might be present. Strangely enough, errors do occur, and it is well worth taking the time to dispel such inconsistencies. You must carefully scrutinize the report in order to correct things like account numbers, names, wrong information, as well as items that are out of date. The last error type is the most common mistake and when corrected can have an important impact on your score.

There are guidelines that regulate how long certain kind of information can be recorded in your credit score. For example, most undesirable information that is over seven years old may be removed. This includes lawsuits, judgments, paid tax liens, accounts dispatched for collection, records of criminal activity (other than convictions), late payments, and even child support and many other pieces of possibly adverse information. This is great news for those that have blemishes on their credit report from years ago. These things will not show up forever. Even insolvencies that are older than ten years can be dismissed from your score. Getting rid of this outdated undesirable information can have an immediate impact on your score, especially depending on the severity of the problem.

It may seem silly, but it is just as important to check things like your Social Security number, name, address, phone number, and information concerning your occupation. These mistakes might be outdated or simply entered incorrectly. These errors actually do occur. In the same way, errors also occur concerning your involvement with certain accounts. It is possible that suits or credit accounts that do not belong to you show up on your credit report. This is also true of accounts that have been paid in full. Sometimes these accounts may not have been updated and still show an outstanding balance.

By filling out a request for reinvestigation form or writing a letter, you can correct these errors that are detrimental to your overall credit score. You should, as carefully as possible, reference every inaccurate or outdated piece of data that appears on your report as well as describe why that information is incorrect. The reporting agency will then investigate those items and contact you within 30 days to notify you of any changes. This process may also be expedited if you are trying to qualify for a mortgage or car loan. This is known as a rapid rescore.

Once you have rid your free credit score report of any incorrect information, you can then begin to add positive information. This might be through a new loan, a secured credit card or simply making responsible payments on the accounts you already have. By double-checking your credit report for errors you might save yourself a great deal of time in the task of recreating your credit merit.

It is very important to know what is on your Credit Report, because there could be errors on it. In order to know, you must pull a current copy of your Credit Report. Go to http://www.my720fico.com to obtain a current copy.

Article Source: http://www.ArticleBiz.com

Home Improvement Loans: Setting UK Homes In Order

2007-11-08T04:21:00.000-08:00

By: Amenda Doroth

One of the desires of every human being is to have a home for himself. A desire that has always dominated the minds of people. It is not difficult to understand why. Everyone wants a place to live peacefully with his family. A place which he can call his own. A place where he would be away from the world, rapped in the intimacy of his wife and children. House also is a place where one has load of memories, sweet and bitter, that so gives color to one's life. The desire, therefore, to have a home is pretty obvious.

Modern times have been very kind to people. The dream of owning a house was never as easy as it is in today's times. Emergence of various financial services has ensured that availing loans for the purpose of owning a house is extremely simplified. However, if after owning a house one thinks that one is free from all the worries and tensions then one is sadly mistaken for every house needs to be renovated from time to time without which it would not take long to get reduced into ruins.

To save one's dream possession from getting dismantled it is a must that one takes good care of one's house. Which means proper renovation and white washing at regular intervals? However, in this expensive era there is every possibility that one might not possess the required amount for renovation. It is here that home improvement loans come into existence and ensure that one's requirement of finances for the purpose of renovation is met.

However, to gain maximum from home improvement loans, it is a must that people make a detailed estimate about the expenses that they expect in renovation of their homes. What is also required is that people stick to their plan and do not indulge in over expenditure.

If these precautions are taken and home improvement loan approached judiciously then there cannot be a shred of doubt that they would go a long way in helping one in realizing his dream of giving a proper renovation to ones dream possession.

The author is a business writer specializing in finance products & has written authoritative articles on the finance industry. He has done his masters in Business Administration & is currently assisting Home Improvement Loan & Personal Loans as a finance specialist.

For more information related to loans please visit: www.ask4loan.co.uk

Article Source: http://www.ArticleBiz.com

What Are The Basics Of Home Refinancing?

2007-11-05T04:24:00.000-08:00

By: Alan Lim

The decision to take out a second mortgage to refinance your home should never be a frightening resolution to any mortgage holder. Home refinancing is worth the decision if and only if you follow the proper line of investigation. Here are some guidelines to take you through the transaction:

Carry out extensive research

Home refinancing is not just all about taking out a second loan with the mortgaged property as security. It goes beyond that to selecting the best deal that would not weigh on your ability to pay. The route to this is to shop extensively. All lenders are not the same. Do a lot of comparison shopping. Through this you might be able to come out with one or two deals that may prove advantageous to you than a prior transaction. Investigate on the current rates. At times it may be prudent to wait till rates fall particularly if your current rate is equal to or higher than the existing market rate, before resorting to home refinancing.

Deciding on a home refinancing lender

Most people are also not decided on what lender to look forward to home refinancing. As there are so many bad deals out in the market, so too there are mischievous lenders. If you are not inconsistent with your previous lender, the best choice will be to go back to that lender. He is best to understand your situation and you may work out a special deal with him which takes account of your particular needs. If you decide on taking an entirely new lender, make an appraisal of more than two lenders. Keep in mind that your present tight spot might have been as a result of the unfruitful deal that you entered into.

Honesty pays

Home refinancing may sometimes mean moving from a worst to a best situation. Therefore, it is wisdom to know your monetary habits. Keep in mind that home refinancing is not only meant for those who have a good financial record. The fact that your finances are in the red still qualifies you for refinancing. With this in mind, personally lay your problem to the lender. There are and will always be solutions carved out for people of your type. Hiding a poor record to him might lead you thinking of the feasibility of the existence of a third mortgage.

Are you refinancing for the first time?

If you are into home refinancing for the first time, I would advocate you to be cautious and reflect only on investment. The best solution for new comers will be to use the refinance to invest on the existing mortgage. This is one of the fastest ways to build up valuable equity in your home. Equity in the property always gives you an edge over the lender when thinking of home refinancing.

There is a multiplicity of valuable refinancing resources to potential home owners. You can get proficient advice from Home Refinancing now!!!

Article Source: http://www.ArticleBiz.com

Debt Consolidation Loans: Protecting People From Excess Loans

2007-10-30T04:27:00.000-07:00

By: Anaya Erika

Present times, it must be said, is such that people are forced to take loans. With the cost of living hitting the skies, this is only to be expected. Rare are the families who don't have to go for loans to meet their several big, small expenses. So much so that today a stage has come when one can rarely think of purchasing a product without carefully deliberating over the price. This is true for almost every section of society, particularly to those belonging to the middle class category. They are forced to take loans for several of their requirements and it would not be wrong to state that loans can well be termed as the life line of middle class.

Loans indeed go a long way in solving the problems of people but it should not be forgotten that they at times themselves become problem. This mainly happens when one has taken quite a few loans. The problems that arise here is that it is not possible for people to remember all the different loans that they might have taken and their repayment date. The interest of these loans is also a cause for concern.

Debt consolidation loans, which is actually one of the features of unsecured loans, it must be said, is specially designed for this very purpose as it allows the borrower to consolidate his debts and repay them in one go. What is even more heartening is the fact that the rate of interest charged on debt consolidation loans is less than all the loans put together.

However, to make debt consolidation loans really work in their favour, it is a must that people take a few precautions. First of which is to do a thorough research of all the offers available and then decide as to which offer is most suited for him. This can only be achieved if a proper scanning of all the offers have been done, their terms conditions and interest rates weighed and the credential of the company as well as its reputation checked. If the loan is opted keeping these information in mind then one can be rest assured that debt consolidation loan would indeed go a long way in helping one clear of all their debts and that too in one go. Debt consolidation loans, it must be said, is the best gift of unsecured loans.

Article Source: http://www.ArticleBiz.com

Making Life Easier with Home Loan Refinance

2007-10-25T04:31:00.000-07:00

By: Alan Lim

The bills just seem to keep coming. The roofer says that you’ll need a new one soon. College is just a year away and moms’ senior center is increasing rates. A home loan refinance option may be what is needed to pull it all together into a neat package designed to make your life easier.

Investing to make it work

Paying off the mortgage was always thought to be one of those defining moments. As it turns out it is defining. Unfortunately, the moment is not the one you may have thought about originally. Paying off your mortgage means that you let the bank take advantage of your money. Instead, think about home loan refinance and saving some money meant for the bank. This option lets you use your money to fullest advantage instead of letting the bank use it to theirs. Home loan refinance can make your life easier to deal with by paying down all those high interest rates.

Pulling it all together

One way or the other that roof is going to need to be upgraded. There is little that can be done about that. Junior needs to go to college somehow. Costs are a killer but somehow he needs to get there through a series of scholarships, matches, loans and what not. Mom’s care needs to be addressed as well, in one form or another. The bills are and will be coming from everywhere. A home loan refinance program may be just the ticket to pull everything together. A home loan refinance program would mean lower or nonexistent bills.

Is now the time

Whether you opt for a home loan refinance option at this point in time is really a life and regional choice. If your plans entail staying in the same home for the longer term it is the perfect time to consider a home loan refinance option. Rates are being reset so a solid indication of where they will be for an extended period is available. Prices have begun to fall on homes but they have yet to go anywhere near where they could have gone considering the situation. If you are sticking around for a while the values will come back in a few years, so a home loan refinance program should be ok at this point.

Everything ages

Home loan refinance is one way of looking at the aging process of your home and life, everything ages. You bought your home with old dollars. The roof with aging wood and the child is just like you some time ago. At some point they all need to go to the health club for a reshaping, something to get them back on, or continuing on a healthy track. New dollars can get them to the next step and moving forward. Everything needs a booster now and again to pull it all together. A refinance program is just that.

Source: http://www.ArticleBiz.com

French Leasebacks explained

2007-10-20T04:37:00.000-07:00

By: Nick Dowlatshahi

If investment over personal use is the primary reason for purchasing a property then the French leaseback scheme could be right for you. The scheme created by the French Government in the 1970's was designed to increase the amount of short term accomodation in France as there has always been a chronic shortage. This could be either tourist accomodation in holiday resorts or business accomodation in city centres in large business hubs. The scheme involves you buying a property freehold and then granting the lease of it for 9 to 11 years to a management company who pay you a fixed guaranteed rental income in return. You also save substantially on French tax and have a low risk no hassle investment.

Refunded VAT: One of the great bonuses of this scheme is that the purchaser gets a full refund of the TVA (VAT) of 19.6% if it is a new build property which is either refunded 6-9 months after completion or paid and reclaimed by the developer. At the end of the initial lease period the holiday company usually reserves the right to lease it again until the 20th year after its construction but this is very rarely insisted upon if the client is not in agreement. If you choose not to lease your apartment out again or sell it then you will have to pay a proportion of the TVA according to how many years are left outstanding from the first 20 years. For example, if the property has been under lease contract for 11 years and there are therefore 9 years remaining, then the amount of TVA that must be paid back to the French government is 9/20ths of the TVA. After 20 years TVA is no longer payable. Should you wish to sell your property within the lease period then you must sell it with the lease contract intact to someone who is prepared to see the contract through.

Guaranteed return on investment: The guaranteed investment return will typically be around the 5% mark net of all costs tax-free as you benefit from non-professional lessor of furnished property status (LMNP). This in effect means that you will receive as much interest as you would in a high yielding savings account as well as the opportunity to gain from capital appreciation of the property.

Personal Use: Leasebacks often allow the owner the option to occupy the property for a number of weeks a year in return for slightly lower investment yields. If you choose not to use the weeks then you will usually get a higher annual yield.

The management company: An experienced management company will take care of the entire maintenance of the apartment or villa, usually with hotel services available such as reception, house linen, well-kept gardens, swimming pools and 24hr security.

Furnishing: Furnishing, decoration and electrical appliances are all supplied and maintained by the management company.

Accounting impacts during the loan's term:

-Deductibility of the loan interest - Deductibility of miscellaneous expenses (property taxes) - Amortisation deductibility; 3.3% per year for 30 years, however they are deferred and not imputable in regard to the business income.

After the loan's term the deferred amortisation can be imputed and set against the received net rents.

Notary Fees and sales process: The sales process is the same as for new build/renovated properties with the same notary fees: 3% on new builds and for refurbished leaseback properties you will have to pay the usual 7-8% notary fees on the property before refurbishment working out at between 4% and 6% of the value of the purchase price.

Better than Timeshare: Unlike time share schemes the owner actually sees a return on his/her investment through annual rental yields and also appreciation in the value of the property which can be substantial- so it is not money down the drain. The bonus though with these schemes is that like time share the property will be well maintained by the holiday company with no responsibility for changing of linen and cleaning- you simply turn up during your chosen weeks and enjoy it!

Source: http://www.ArticleBiz.com

Debt consolidation - Settle your debts

2007-10-20T04:35:00.000-07:00

By: Angelo Drew

Borrowers who have multiple debts may find it difficult to repay all the instalments every month. If they want to lower down their monthly outgoings, there are many options available to them.

Individual voluntary arrangements (IVAs) are helpful to those borrowers who want to overcome their financial problems or even write off some of their debts. IVAs offer relief to those who are facing difficult times in repaying their debts. For debt-saddled people, it is an opportunity to get their finances under control within a stipulated time frame.

To settle your debts conveniently, you can also opt for an administration order. This is an order of the court that permits you to make a single payment every month to the court. The court distributes the money between your creditors after charging an administration fee from you. There are some conditions that you have to fulfil in this case. You should have at least two debts from two different creditors. Your debts should not exceed £5,000 and there should be at least one County Court or High Court Judgement against you.

Debt Consolidation Loans are another option to settle your debts. These loans are used to repay your existing debts and convert your multiple instalments into single repayment. Many lenders offer debt consolidation loans. There are high street banks, online lenders, building societies and other financial institutions that can provide you these loans at competitive rates.

The online lenders provide both secured and unsecured debt consolidation loans. If you are above 18 years of age and a UK resident, you can apply for the loan. To get a competitive loan from the crowd of lenders, you should compare loans. You can do the comparison online. Many price comparison websites can assist you in this process. Debt consolidation loans help you buy some time to recover and emerge stronger in financial terms.

Source: http://www.ArticleBiz.com

Vehicle Purchase With Plastic

2007-10-15T04:46:00.000-07:00

By: Ajeet Khurana

No car comes for really cheap. Making the decision to buy one usually has to be accompanied by a number of trips to the local bank to ask questions about car financing. Getting a car loan may be easier than getting a mortgage, but it still involves a certain amount of running around and quite a bit of paperwork. If one is going in for a secured loan, the number of documents required will be much more. If one has enough savings in the bank to fund the new buy, that is the best way to be. But most of us lack sufficient liquid cash to pay for such a large bill.

However, car loans are not the only answer to the question of gathering funds. One great option would be to avail of a low priced credit card and use it to fund this buy. Buying a car with plastic may not be the most popular way of going about it. But plastic can simplify your car buying issues. For starters, consider the need to get approved for a loan. That in itself tends to be a time-consuming process. However, if one is buying the car via a credit card, there is no need to get loan approval. Even the various discussions about loan rates and terms can be eliminated when using a credit card to make the purchase. However, it should be a wise decision to notify the card provider about the large purchase that one is about to make.

One advantage that a purchase by plastic would have over a purchase via a loan is that repaying the debt won't be such a problem. A loan taken from the bank would necessitate making fixed monthly payments during the entire loan term. However, in the case of a credit card, one has the option of paying just the minimum monthly payment. Thus, there is far more flexibility in the case of the latter.

Of course, even buying your dream car with the power of plastic has some disadvantages. For instance, even if your card starts out as being low-priced, this might not be valid beyond a certain period. Once the introductory low interest period is over, you might find yourself having to shell out a good deal more only as your interest amount. At this point, you have the choice of shifting to a cheaper card by using the balance transfer option. However, doing this a little too often could adversely affect your chances of getting approved by lenders in the future.

We are the specialists in auto loans. Visit us for car finance and car loans of all types.

Source: http://www.ArticleBiz.com

Why Equipment Leasing Is Better Then Using Your Business’s Cash!

2007-09-13T05:42:00.000-07:00

By Richard Bonomo

First

Why use your business’s cash when you don’t have to. Cash is valuable, the less you can use the more profitable your business will be. The concept is simple it is the time value of money. You have heard of it. Well, that is why you should lease all your equipment. Use your cash for more important things.

Second

Protection against obsolesce. When the term of the lease runs out you turn in your equipment and get a new lease for updated equipment. Your competitors have the new technology. You need to stay ahead and have it also.

Third

Tax Advantages. Depending on the way that your lease is structured, it may be possible to deduct all of your payments as a business expense. This type of lease will have no effect on your debt–to–equity ratio, since this is not a debt.

Fourth

It is fast and easy. Usually it is only a one page application to get you started and on your way.

Fifth

Stretch your buying power by buying more equipment with less cash outlay. By having this new equipment, it will allow you to do more business and become more profitable.

Sixth

A fixed rate on a lease makes your business equipment expenses predictable. During times of increasing interest rates you will have peace of mind!

Secret

If you have equipment which is fully paid for and has a current value, there are ways to get you cash for that equipment and this cash can be used for anything! And that is a good thing! You can get the working capital you have been looking for, but didn’t know how to get it!

You should get started today and lease all business equipment from now on!

Your best bet is to speak with a knowledgeable Equipment Lease Advisor who will answer all your questions and steer you in the right direction.

Hope you enjoyed reading this article,

BRT Financial, Inc.

The Equipment Lease Advisors

Source: http://www.Free-Articles-Zone.com

Leasing Equipment Versus Buying

2007-09-13T05:35:00.000-07:00

By David Springer

Short on cash, but need equipment? Consider leasing what you need. Leasing equipment may be a better alternative to buying, depending on your situation and needs.

Today, leasing is common practice in business. Over the past two years, equipment leasing has risen approximately 20 percent, according to recent research by the U.S. Small Business Administration (SBA). And 8 out of 10 U.S. businesses lease all or part of their equipment, reports the Equipment Leasing Association.

Leasing is appropriate for just about any business at any stage of development. For start-up businesses with no revenues, smaller leases—those of $100,000 or less—may be better managed on the personal credit of the owners—if they are willing to make the monthly payments.

Comparing Leasing to Buying
When you buy a piece of equipment or vehicle, you usually have to pay for it in full either by using cash or by financing the balance. After you finish paying for it, you own it.

Equipment leasing, on the other hand, is essentially a loan. The lender buys and owns the equipment and then "rents" it to a business at a flat monthly rate for a set number of months. At the end of the lease, the business has several options. It can purchase the equipment for its fair market value (or a fixed or predetermined amount), continue leasing, return it or lease new equipment.

With a lease, you actually only pay for using the equipment. But at the end of the lease period, you could end up owning nothing. So why lease? The answer is simple: By leasing equipment, you leave money in the bank that can be used for other purchases. Since lease payments are usually smaller than regular loan payments, you don't have to pay out as much each month.

However, keep in mind that a lease is not cancelable like a bank loan or other debt. If you need to get out a standard loan you can sell the equipment and pay off the loan, or even refinance it. With a lease, you generally have to pay off the lease in full. So you have to be sure you make the payments when you enter into a lease.

So what kinds of equipment make the most sense for a small business to lease? According to research by the SBA, the most common items leased are office equipment, computers, and trucks and vehicles.

Benefits of Leasing
Leasing equipment offers a wide range of benefits, from consistency with expenses to increased cash flow. But perhaps the most significant advantage of leasing is the ability to maintain up-to-date equipment. Leasing allows you to easily and affordably add equipment or upgrade to a complete new piece of machinery to meet future needs. This lets you transfer the risk of being caught with obsolete equipment to the leasing company.

Here are some other benefits of leasing:

• Alternative to financing - Leasing is essentially an alternative to traditional financing and can be great for companies not able to obtain business loans.

• 100-percent “financing” – In many cases, leasing requires no down payment. This allows you to “finance” an entire purchase, including software, hardware, consulting, maintenance, freight, installation, and training costs.

• Ease and convenience - Applying for a lease is easy, and lease arrangements can be structured to meet your individual requirements. Equipment leases can range from $ 2,000 to $ 2 million. For smaller amounts, you can complete a brief application and receive a final decision within days—often with no financial reports or tax returns needed. Leases for more than $100,000 generally require detailed financial information from the business, and the leasing company conducts a more thorough credit analysis than it would for a smaller

• Flexibility - Lease terms range from 12 to 60 months, depending on the equipment type. Most leases can be structured so that payments are made with operating rather than capital funds. This can eliminate or reduce capital budget delays. Leased equipment can be purchased later if capital becomes available. Plus, a percentage of the lease payments can be credited toward the purchase of the equipment.

• Fixed, predictable payments - Having fixed lease payments enables you to accurately predict the impact of equipment expenses on your cash flow.

• Conserves working capital - Leasing conserves your working capital by requiring only a minimum initial outlay of cash.

• Tax Advantages - Operating leases are generally treated as a 100-percent, tax-deductible business expense paid from pre-tax earnings instead of after-tax profits.

• Protection against inflation - Lease payments are based on the dollar's current value. And unlike bank lines of credit with fluctuating rates, your payments are fixed regardless of what happens to the market tomorrow, making it easier to budget, forecast and grow.

Working with a Leasing Companies
When leasing equipment, keep in mind that the company selling the equipment simply makes a direct referral to a leasing company with which it does business. And, usually, the company selling the equipment works with more than one leasing company. So be sure to get quotes from a number of leasing firms. It’s also a good idea to ask for referrals from friends and business associates.

Additionally, make sure you understand with whom you’re dealing. Are you talking to a broker—the person who simply structures deals, then gets them financed through any of the leasing companies he or she works with. Or are you dealing with a leasing company that is actually putting its own funds on the line?

Brokers can be beneficial because they have valuable insight about the leasing market and can help you find the best leasing solution for your needs. But as when dealing with any type of salesperson, you are responsible for handling the due diligence. Do your own homework to ensure you negotiate the most favorable lease agreement for your company.

Article Source: http://www.Free-Articles-Zone.com

Buying a Car or Leasing?

2007-08-25T05:27:00.000-07:00

By Brad Whitehead

When it is time to shop for a new car there are many things to take into consideration. One of the biggest decisions is whether you should choose car leasing or car buying. There are many fundamental differences between the two.

To help make your decision easier the following is a list of those differences:

- At the end of the car loan term you will own a car if you opted to buy. At the end of the car lease term you return the car to the dealer and are left with nothing.

- A car loan term is usually four to six years. A car lease term is typically two to four years.

- Monthly car loan payments are generally higher than car leasing payments. This is because you are only really only paying for the car’s depreciation during the car lease term plus interest, taxes and service fees.

- Most car leases limit the amount of mileage you can put on the vehicle. If you plan on traveling a great deal you will have to consider negotiating a higher mileage limit. This will mean slightly higher monthly payments. If you exceed the limit you will be required to pay a charge of between 10 to 15 cents per mile. If you choose to buy the vehicle this is not an issue.

- When leasing a car there are limits to the amount of wear you can cause to the vehicle. Excessive wear will result in extra charges. If you buy you can do what ever you want to your car.

- If you terminate a car lease before the term is over there usually is a charge. In the case of car buying if you buy out the remainder before the car loan term is up you are usually charged a fee as well.

- The up front costs of car leasing include first month’s auto lease payments, a refundable deposit, a capitalized cost reduction( similar to a down payment), taxes and service fees. The up front costs of car buying include a down payment, taxes, registration and other service fees.

- At the end of the car lease term you have to pay any charges for excess wear and mileage then you can either walk away or buy out the car. When you reach the end of the car loan term you have no further payments and you walk away with your car.

Consider all these differences before coming to a decision on whether to buy or lease your next vehicle. Your choice will effect quite a lot over the loan or lease term including your monthly auto loan payments as well as what you can do to your vehicle to a certain extent. If you know what your long term goals are it will allow you to select the right option for your next car

Source: http://www.Free-Articles-Zone.com

Technological Benefits of Equipment Leasing

2007-05-15T05:24:00.000-07:00

By Razvan Jr

Technology provides a needed and powerful edge in business; the following points examine those benefits and let you decide how these benefits provide you with the needed edge in business. An equipment leasing arrangement provides you the edge you need without running the expensive costs associated with purchasing state-of-the-art equipment.

Wider Options, Lesser Costs - With an equipment leasing arrangement you are free to select your choice of equipment without paying the full price. This advantage also comes with the fact that most business equipment leasing companies will often handle everything from the maintenance to the deployment of their equipment. Your company can save the costs associated with the equipment as the leasing company usually gets price cuts on equipment and related services since they buy in bulk.

State-Of-The-Art Equipment - When a commercial equipment leasing company provides your business with equipment they provide the best. They do this because unlike your business, equipment leasing is the only business they do and their competition is steeped in proving you the best equipment at the lowest prices. If they don’t provide the best equipment at the best prices their competition takes over, so the company paying for leasing services gets all the related benefits of getting the best equipment at a cheap price.

Flexible Arrangements - With an equipment leasing arrangement, financing is according to your convenience. Financing can be arranged according to the way you intend to use the equipment and the cash flow of your company. You can also renegotiate the terms of your lease if your circumstances change and this comes without any repercussions. Some commercial equipment leasing companies also handle the insurance of their equipment so insurance costs for your leased equipment is not a problem.

Equipment Leasing Options

With the various equipment leasing companies available there is hardly a fixed set of leasing options. Companies will provide leasing options and tailor them according to the needs of their customers. In this equipment lease guide we have selected some of the most common business equipment leasing options available, which can be found across a variety of equipment leasing companies in the U.S. today.

The Capital or Finance Lease offers the lessee the option to buy the equipment at a much reduced rate at the end of the lease period. This equipment lease is also referred to in some quarters as a nominal buyout lease. With the Sale-Leaseback Lease the company buys the equipment it requires and sells it to the leasing company. The equipment leasing company can then lease the equipment back to your company or business for its normal use. The Municipal Lease option is available to public agencies as well as non-profit organizations. If your company falls into these categories you can make inquiries concerning this option. With the Deferred Payment Lease, the first monthly payments of such leases are usually deferred to a period of up to 90 days before the lease starts. With the Seasonal or Skip Payment Lease, the lessee pays for the lease at peak periods of the operating year, which are defined at his convenience. With the True Lease, the lessee may choose to return the leased equipment on conclusion of the lease or may buy the equipment at a fair market value price of the equipment. With the Graduated Lease, the leases start off with small monthly payments that rise according to the level of increasing income your business generates.

Source: http://www.Free-Articles-Zone.com

Buy or lease Your Next Home- which one is better?

2007-03-23T05:39:00.000-07:00

By Maria Rain

Want to buy a home? Check out the following things.
If you are pleased to continue in a house that is tiny enough to price in stipulations of Equated Monthly Installment - the equivalent sum that you now shell out as lease, you should go for a house. You can carry on accumulating, spending happily and moving into a larger accommodation, once you have additional constancy in your money. If you can see at the accommodation you purchase as purely a tax and money saving tool, rather than any indication of your status, this ought to work for you. The funds that are now being compensated as rent can become financial support your home. You can expect to put in order it off at a elevated value when you require to acquire a larger accommodation.

Leasing is well-situated while
1. Your occupation necessitates you to shift from place to place.
2. You are considering moving to a different metropolis.
3. You do not have cash for the down payment and other expenses, but can afford a security deposit.
4. You don't desire the bother of house upholding and preservation.
5. You can almost certainly keep on in a high-class area where you may not be able to manage to pay for your individual residence.

Leasing is not convenient for the reason that
1. You get no exceptional tax breaks.
2. You don't place to expand from the growing value of assets.
3. You cannot rearticulate the accommodation to your fondness.

Buying is well-situated while
1. You are lucid on your financial plan and accommodation overheads.
2. You are expressively prepared to take the thrust.
3. You are exhausted of toss away funds on lease.
4. You have had it with abhorrent, inquisitive property-owner.
5. You have put aside adequate for down payment and other expenses.
6. You want to take benefit of the tax break on housing mortgage.
7. You don't desire the bother of increased charge each time.

Buying is not convenient for the reason that
1. You will have to put aside adequate for the down payment and other operating expense.
2. Moving out and around is not trouble-free any longer.
3. You now have a loan to pay back and that means you are monetarily static to that degree.
4. All upkeep and maintenance are now your hitch.

Source: http://www.Free-Articles-Zone.com

Privacy Policy for Loan and lease monitoring

2007-01-03T22:41:00.000-08:00

If you require any more information or have any questions about our privacy policy, please feel free to contact us by email at kedarah@hotmail.com.

At Loan and lease monitoring , the privacy of our visitors is of extreme importance to us. This privacy policy document outlines the types of personal information is received and collected by Loan and lease monitoring and how it is used.

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