Disaster Fund – Gosic http://gosic.org/ Sat, 09 Oct 2021 09:57:38 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://gosic.org/wp-content/uploads/2021/06/icon-2-150x150.png Disaster Fund – Gosic http://gosic.org/ 32 32 SBA Administrator Announces New PPP Milestone, 1 Million Borrowers Request Direct Discount https://gosic.org/sba-administrator-announces-new-ppp-milestone-1-million-borrowers-request-direct-discount/ https://gosic.org/sba-administrator-announces-new-ppp-milestone-1-million-borrowers-request-direct-discount/#respond Sat, 09 Oct 2021 01:17:57 +0000 https://gosic.org/sba-administrator-announces-new-ppp-milestone-1-million-borrowers-request-direct-discount/ Admin Guzman Stresses New Direct Forgiveness Portal and Other Innovations Key to Speed ​​Up Reviews and Approvals

WASHINGTON – The US Small Business Administration takes a milestone as its Paycheck Protection Program Direct Borrower Forgiveness Portal registers its millionth PPP loan forgiveness request for borrowers requesting forgiveness on $ 150 loans. $ 000 or less.

“We are committed to keeping the promise of forgiveness for our eligible PPP borrowers. Our innovative Direct Forgiveness Portal is helping our PPP borrowers get back to doing what they do best, creating jobs and fueling our country’s economy, ”said Isabella Casillas Guzman, SBA Administrator. “With over a million request submissions, our direct forgiveness portal has already given many of our smaller businesses the ability to quickly and smoothly request a forgiveness and move forward with their rebuilding. and their recovery. I encourage eligible PPP borrowers who have not yet applied to visit SBA.gov or contact their lender today.

Since the portal launched on August 4, the SBA has received relief requests of more than $ 17 billion from more than one million of America’s smallest businesses, bolstering President Biden’s commitment to fairness across the US government. In less than 45 days, 91% of all loans eligible for direct remittance in the 2020 PPP portfolio were submitted, demonstrating the SBA’s effectiveness in providing relief to entrepreneurs who suffered during the height of the pandemic. In addition, the number of lenders participating in direct forgiveness more than doubled from 600 when the portal opened to more than 1,400.

In addition, significant progress has been made on PPP 2021 loans with 65% of all loans eligible for direct discount already submitted. The SBA has also been able to streamline the process for those who are not eligible for direct forgiveness by using the COVID Health score, which eliminates the need to provide lenders with overwhelming paperwork and serve over 600,000 borrowers to date. .

With the introduction of the new PPP Direct Forgiveness Portal, the SBA streamlined application processes to refocus the user experience around small business owners, a priority for Administrator Guzman. Today, a borrower from a participating lender can now complete most or all of a forgiveness request using a computer or, for the first time, their smartphone. On average, users can complete and submit their requests directly to the SBA in just six minutes, and most receive their forgiveness decisions within a week of the date of submission.

Eligible interested borrowers can access the portal from the SBA website https://directforgiveness.sba.gov. Borrowers who need assistance with their forgiveness requests or have questions can contact the PPP Customer Service team by calling (877) 552-2692, Monday to Friday, 8 a.m. to 8 p.m. ET. .

Borrowers whose loans are made through banks that have chosen not to enroll in the SBA Direct Discount Portal should request a discount through their lender.

Submitted by the US Small Business Association.

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CNX RESOURCES CORP: conclusion of a material definitive agreement, creation of a direct financial obligation or obligation under an off-balance sheet arrangement of a holder, financial statements and exhibits (Form 8-K) https://gosic.org/cnx-resources-corp-conclusion-of-a-material-definitive-agreement-creation-of-a-direct-financial-obligation-or-obligation-under-an-off-balance-sheet-arrangement-of-a-holder-financial-statements-and/ https://gosic.org/cnx-resources-corp-conclusion-of-a-material-definitive-agreement-creation-of-a-direct-financial-obligation-or-obligation-under-an-off-balance-sheet-arrangement-of-a-holder-financial-statements-and/#respond Thu, 07 Oct 2021 12:38:06 +0000 https://gosic.org/cnx-resources-corp-conclusion-of-a-material-definitive-agreement-creation-of-a-direct-financial-obligation-or-obligation-under-an-off-balance-sheet-arrangement-of-a-holder-financial-statements-and/

Item 1.01 Conclusion of a Material Definitive Agreement.

CNX Resource Company (“CNX” or the “Company” as borrower and certain of its subsidiaries as guarantor of the loans have entered into a new amended and restated third credit agreement for a senior secured revolving credit facility, dated of October 6, 2021 (the “CNX Credit Agreement”) and expiring on October 6, 2026 with some lenders and PNC Bank, National Association as administrative agent and guarantee agent. The new senior secured revolving credit facility has a $ 2 billion borrowing basis and $ 1.3 billion commitments made and replaces the Company’s existing senior secured revolving credit facility which had a
$ 1.775 billion borrowing basis and $ 1.775 billion elected commitments, had been concluded at the March 8, 2018 (with all amendments, supplements and modifications made thereto, the “Existing CNX Facility”), and had a maturity of
April 24, 2024.

CNX Midstream Partners LP, a wholly owned subsidiary of CNX (“CNXM” or the “Partnership”), as borrower and certain of its subsidiaries as guarantors have entered into a new amended and restated credit agreement for a credit facility renewable senior guarantee, dated October 6, 2021 (the “CNXM Credit Agreement”) and expiring on October 6, 2026 with some lenders and PNC Bank, National Association as administrative agent and guarantee agent. New
$ 600.0 million senior secured revolving credit facility replaced the $ 600.0 million senior secured revolving credit facility that was entered into on March 8, 2018 (with all amendments, supplements and modifications made thereto, the “Existing CNXM Facility”) and had a maturity of
April 24, 2024. The CNX intermediate the installation is not subject to a new semi-annual determination.

A copy of the CNX Credit Agreement and the CNXM Credit Agreement are filed as Exhibits 10.1 and 10.2 hereof, respectively, and are incorporated herein by reference. The description of the CNX Credit Agreement and the CNXM Credit Agreement in this Form 8-K is a summary and is qualified in its entirety by the terms of the CNX Credit Agreement and the CNXM Credit Agreement, as per the case.

CNX credit agreement

The CNX Credit Agreement provides for a secured revolving credit facility (the “CNX Credit Facility”) with an aggregate principal amount outstanding of up to
$ 1.3 billion, including loans and letters of credit. In addition to the refinancing of all amounts outstanding under the existing CNX facility, borrowings under the CNX credit facility may be used by CNX for general corporate purposes.

Availability under the CNX Credit Facility, including availability for letters of credit, is generally limited to a borrowing base, which is determined by the required number of bona fide lenders in calculating a loan value. of the Company’s proved reserves.

Interest on outstanding debt under the CNX Credit Facility currently accrues, at the option of the Company, at a rate based on:



  •   the highest of (i) PNC Bank, National Association's prime rate, (ii) the
      federal funds open rate plus 0.50%, and (iii) the one-month LIBOR rate plus
      1.0%, in each case, plus a margin ranging from 0.75% to 1.75%; or




  •   the LIBOR rate plus a margin ranging from 1.75% to 2.75%.

The CNX credit facility matures on October 6, 2026, provided that if at any time on or after January 30, 2026, if any of the Company’s 2.25% Convertible Senior Notes due 2026 are outstanding and (a) availability under the CNX Credit Facility less (b) the aggregate principal amount of all such outstanding convertible senior notes is less than 20% of the total commitments under the CNX credit facility (the earliest of these dates, the “spring maturity date”), the CNX credit facility will mature on the spring due date.

————————————————– ——————————

The CNX credit facility requires compliance with conditions precedent that must be met before any borrowing as well as continued compliance with certain positive and negative covenants to which CNX and certain of its subsidiaries must adhere.

Affirmative pacts include, among others: (i) preservation of existence; (ii) payment of obligations, including taxes; (iii) maintenance of property, insurance, leases, books and records and major contracts; (iv) respect for laws; (v) use of the product; (vi) subordination of inter-company loans; (vii) anti-terrorism laws; and (viii) guarantees.

CNX’s credit facility covenants include restrictions on the ability of CNX and its subsidiary guarantors, except in certain circumstances, to: (i) create, contract, assume or incur indebtedness; (ii) create or allow the existence of privileges on their properties; (iii) prepay certain indebtedness unless there is no default or event of default under the CNX credit facility; (iv) make or pay dividends or distributions in excess of certain amounts; (v) merge with or into another person, liquidate or dissolve; or acquire all or substantially all of the assets of an active business or an active line of business or acquire all or a substantial part of the assets of another person; (vi) make specific investments and loans; (vii) sell, transfer, assign, assign or assign its assets or properties other than in the ordinary course of business and in other selected cases; (viii) deal with any affiliate, except in the ordinary course of business, on terms no less favorable to CNX than those it would otherwise receive in an arm’s length transaction; (ix) other than CNX, issue additional shares to any person other than CNX or certain of its subsidiaries; (x) modify in any way its certificate of incorporation, by-laws or other organizational documents without notice to the lenders and, in some cases, with the consent of the lenders. In addition, the Company is required to maintain at the end of each fiscal quarter (x) a maximum net debt ratio not exceeding 3.50 to 1.00; and (y) a minimum current ratio of at least 1.00 to 1.00; both calculated in accordance with the terms and definitions determining these ratios contained in the CNX credit agreement. The CNX Credit Agreement also contains various reporting requirements.

The CNX Credit Facility also contains customary events of default, including, but not limited to, cross-default on certain other indebtedness, breaches of representations and guarantees, change of control events and breaches of covenants. restrictive.

The obligations under the CNX Credit Agreement are secured by substantially all of the assets of the Company and its subsidiaries in accordance with the Third Amended and Restated Guarantee Agreement, the Third Patent Guarantee Agreement, Trademark of trade and copyright amended and updated and various mortgages.

CNXM credit agreement

The CNXM Credit Agreement provides for a secured revolving credit facility (the “CNXM Credit Facility”) with an aggregate principal amount outstanding of up to
$ 600 million, including loans and letters of credit. In addition to the refinancing of all amounts outstanding under the existing CNXM facility, borrowings under the CNXM credit facility may be used by CNXM for general corporate purposes.

Interest on outstanding debt under the CNXM Credit Facility currently accrues, at the option of the Partnership, at a rate based on:



  •   the highest of (i) PNC Bank, National Association's prime rate, (ii) the
      federal funds open rate plus 0.50%, and (iii) the one-month LIBOR rate plus
      1.0%, in each case, plus a margin ranging from 1.00% to 2.00%; or




  •   the LIBOR rate plus a margin ranging from 2.00% to 3.00%.

The CNXM Credit Facility matures on October 6, 2026.

————————————————– ——————————

The CNXM Credit Facility requires compliance with conditions precedent which must be met before any borrowing, as well as continued compliance with certain positive and negative restrictive covenants to which CNXM and some of its subsidiaries must adhere.

Affirmative pacts include, among others: (i) preservation of existence; (ii) payment of obligations, including taxes; (iii) maintenance of property, insurance, permits, books and records and major contracts; (iv) respect for laws; (v) use of the product; (vi) subordination of inter-company loans; (vii) anti-terrorism laws; and (viii) guarantees.

CNXM’s credit facility covenants include restrictions on the ability of CNXM, its subsidiary guarantors and certain of its non-guarantor and non-100% owned subsidiaries, except in certain circumstances, to: (i) create, contract, assume or suffer from being in debt; (ii) create or allow the existence of privileges on their properties; (iii) prepay certain indebtedness unless there is no default or event of default under the CNXM Credit Facility; (iv) make or pay dividends or distributions in excess of certain amounts; (v) merge with or into another person, liquidate or dissolve; or acquire all or substantially all of the assets of an active business or an active line of business or acquire all or a substantial part of the assets of another person; (vi) make specific investments and loans; (vii) sell, transfer, assign, assign or assign its assets or properties other than in the ordinary course of business and in other selected cases; (viii) deal with any affiliate, except in the ordinary course of business, on terms no less favorable to CNXM than those it would otherwise receive in an arm’s length transaction; (ix) modify in any way its certificate of incorporation, by-laws or other organizational documents without giving first. . .

Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.

The information set out under “Article 1.01. Entry into a Significant Final Agreement ”are incorporated in this Section 2.03 by reference.

Item 9.01 Financial statements and supporting documents.



(d)  Exhibits



Exhibit
Number                               Description of Exhibit

10.1           Third Amended and Restated Credit Agreement dated as of October 6,
             2021, among CNX, certain of its subsidiaries, PNC Bank, National
             Association, as administrative agent and collateral agent and the
             lender parties thereto.

10.2           Amended and Restated Credit Agreement dated as of October 6, 2021,
             among CNXM, certain of its subsidiaries, PNC Bank, National
             Association, as administrative agent and collateral agent and the
             lender parties thereto.

104          Cover Page Interactive Data File (embedded within the Inline XBRL
             document).

————————————————– ——————————

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New technology aims to reduce lender’s time to process mortgage applications https://gosic.org/new-technology-aims-to-reduce-lenders-time-to-process-mortgage-applications/ https://gosic.org/new-technology-aims-to-reduce-lenders-time-to-process-mortgage-applications/#respond Thu, 07 Oct 2021 01:00:15 +0000 https://gosic.org/new-technology-aims-to-reduce-lenders-time-to-process-mortgage-applications/

Consumer demand for digital services has spawned significant investments in a new type of patented technology designed to dramatically reduce the time it takes for lenders to process a mortgage application.

Image file.
Photo: 123RF

The patent held by Sydney-based Nano Digital Home Loans was backed by an A $ 33 million Series A investment by New Zealand private investor Bolton Equities, while the Sydney-based company was led by the director New Zealand general and co-founder Andrew Walker.

The product called the automated real-time digital mortgage decision and application engine was patented in Australia last month.

“Many claim to be digital, but a website application built on yesterday’s broken processes is not the future,” Walker said.

Key to Nano’s technology was open banking and a process called screen scraping, which gave it access to customer banking information held by other financial institutions.

“We get one-stop access through a portal to the applicant’s online banking details,” Walker said.

This data was then processed in real time, giving Nano a quick overview of a client’s finances, income and expenses, to form a credit profile and draft a mortgage in about 15 minutes.

“Our patented technology platform and proprietary algorithms replace weeks of manual effort, rework and frustration with a fast, transparent and paperless process.”

Australia’s home loan product market was estimated at A $ 100 billion, he said.

Nano had already taken out A $ 100 million in approved unconditional loans in the first month since the company went public in Australia.

“It says a lot about the market’s appetite for our disruptive technology,” Walker said.

“We empower Australian homeowners to break free from outdated traditional systems and discover a new way to secure and manage their mortgage. “

The next step was to talk about the business globally, but expansion into New Zealand may be a long way off as the Reserve Bank continued to review open banking rules, which currently did not allow screen scraping, he said.

In the meantime, Walker said Nano will expand into the global market with three different types of product offerings, including a product directly to consumers and licenses to other companies.

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How to apply for an SBI car loan during the holiday season: check out the guide, interest rate, features, advantages, length of occupancy, exclusive YONO offers and more https://gosic.org/how-to-apply-for-an-sbi-car-loan-during-the-holiday-season-check-out-the-guide-interest-rate-features-advantages-length-of-occupancy-exclusive-yono-offers-and-more/ https://gosic.org/how-to-apply-for-an-sbi-car-loan-during-the-holiday-season-check-out-the-guide-interest-rate-features-advantages-length-of-occupancy-exclusive-yono-offers-and-more/#respond Wed, 06 Oct 2021 05:48:40 +0000 https://gosic.org/how-to-apply-for-an-sbi-car-loan-during-the-holiday-season-check-out-the-guide-interest-rate-features-advantages-length-of-occupancy-exclusive-yono-offers-and-more/

SBI Auto Loan Application Online: Owning a car is a dream for many, and it goes without saying that it is one of the biggest investments an individual makes in their lifetime. Many people choose the holiday season of Navratra, Dussehra, Dhanteras and Diwali to buy a car. It may not be possible for everyone to pay for the purchase of a car all at once. And, this is where the car loan comes in.

India’s largest lender, State Bank of India (SBI), says the process of getting a car loan has been simplified for the benefit of millions of customers. Here, we have incorporated all the details about the detailed SBI car loan process, the documents required to qualify for this loan, and the bank’s offers with several car manufacturers, for the convenience of readers looking for information on the same. in this holiday season: –

SBI claims it offers the best deal for financing a new car by offering the lowest interest rates, lowest EMI, minimal paperwork, and quick payout. The bank says it offers personalized car loans for customers such as regular car loan, certified used car loan, SBI loyalty car loan for existing mortgage borrowers, insured car loan program for existing customers with term deposits and the green car loan for electric cars. .

-Lowest interest rates and IMEs

-Longest repayment term (7 years)

-Zero processing fees

-Funding on ‘On-Road Prize’

-The price on the road includes registration and insurance

-Financing up to 90% of the “Price on the road”

-Interest calculated on the daily declining balance

-Allows the purchase of new passenger cars, multi-utility vehicles (MUV) and SUVs.

-No EMI in advance

Interest rate:

-SBI offers a car loan at an effective rate of 7.75% pa

– Obtain a special interest concession of 25 bps when applying for a loan via YONO, i.e. 7.50% pa

Auto loan term: 3 to 7 years

SBI auto loan market share: 31.11%

Eligibility

– Age: 21 to 67 years old

-Regular employees of central public sector companies, defense salary package, para-military salary package / Indian Coast Guard package / clients and short-term officers from various defense establishments

-The net annual income of the applicant and / or co-applicant, if applicable, must be at least Rs. 3,000,000

-Maximum loan amount can be 48 times net monthly income

-Professionals / Freelancers / Businessmen / Own-account companies / Partnership companies / Other income tax contributions

-Net profit / gross taxable income of self and / or co-applicant of Rs. 3,00,000 pa

-Maximum loan amount can be 4 times net profit or taxable gross income according to ITR after adding amortization and repayment of all existing loans

-People engaged in agriculture and related activities (income tax declaration is not required in the case of farmers)

-The net annual income of the applicant and / or co-applicant must be a minimum of Rs. 4,00,000

-Maximum loan amount can be 3 times annual net income

Apply Online: Customers can click on the link below to apply online for the car loan. Fill in the required information, verify eligibility and get the loan quote:

Connect:https: //onlineapply.sbi.co.in/personal-banking/auto-loan? se = Product & cp = S …

Exclusive automotive offers for customers who apply for a car loan through YONO:

Benefit from a car loan with YONO SBI in the comfort of your home:

-Log in to your YONO account

-On the home page, click on the menu (three lines) at the top far left

-Click on loans

-Click on Car loan

-Do a quick eligibility check

– Loan request by providing some details

-Find the eligible amount

-Fill out an application form and upload the necessary documents

-Click on Submit

Required documents

Employee *

-Bank account statement for the last 6 months

-2 passport size photos

-Proof of identity

-Anyone – Passport / PAN card / Voter ID card / Driver’s license

-Proof of address

-Anyone – Ration card / Driver’s license / Voter ID card / Passport / phone bill / electricity bill / life insurance policy

-Proof of income: last payslip

– IT Returns or Form 16 for the last 2 years

* Form 16 / ITR is deleted for SBI salary package clients who maintain their salary account with the Bank for at least 12 months

* Bank account statement is deleted for SBI salary package clients who maintain a salary account with the bank

-Non-employees / professionals / businessmen

-Bank account statement for the last 6 months

-2 passport size photos

-Proof of identity

-Anyone – Passport / PAN card / Voter ID card / Driver’s license

-Proof of address

-Anyone – Ration card / Driver’s license / Voter ID card / Passport / phone bill / electricity bill / life insurance policy

– Proof of income: ITR for the last 2 years

– Computer returns or Form 16 for the last 2 years.

-Audited balance sheet, Income statement over 2 years, Certificate of trade and establishment act / Sales tax certificate / SSI registration certificate / Copy of partnership.

-Person carrying out agricultural and related activities

-Bank account statement for the last 6 months.

-2 passport size photos

-Proof of identity

– Any – Passport / PAN card / Voter ID card / Driver’s license

-Proof of address

-Anyone – Ration card / Driver’s license / Voter ID card / Passport / phone bill / electricity bill / life insurance policy

-Direct agricultural activity (vegetable crops)

– Khasra / Chitta Adangal (showing the cropping pattern)

-Patta / Khatoni (showing land ownership) with photo

-All land must be freehold and proof of ownership must be in the name of the borrower

-Documentary proof of the execution of the activities to be provided for related agricultural activities like dairy, poultry, plantation / horticulture

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USDA vs FHA Loans: What’s the Difference? https://gosic.org/usda-vs-fha-loans-whats-the-difference/ https://gosic.org/usda-vs-fha-loans-whats-the-difference/#respond Tue, 05 Oct 2021 22:33:57 +0000 https://gosic.org/usda-vs-fha-loans-whats-the-difference/

Our goal is to give you the tools and the confidence you need to improve your finances. While we do receive compensation from our partner lenders, whom we will always identify, all opinions are ours. Credible Operations, Inc. NMLS # 1681276, is referred to herein as “Credible”.

Mortgage loans from the United States Department of Agriculture (USDA) and the Federal Housing Administration (FHA) are generally easier to obtain than a conventional mortgage. This makes them good options for first-time home buyers and low to moderate income borrowers.

Although both of these loans are guaranteed by government agencies, there are several key differences between the two that you will need to consider before applying for one. For example, USDA loans require you to live in a rural setting and meet the income limit for your area.

Here’s a closer look at each loan program so you can decide which one is best for your needs:

USDA eligibility against FHA

Both the USDA and the FHA offer mortgage loans for single-family residences.

For an FHA loan, you will apply for a 203 (b) base mortgage to purchase your primary residence.

However, there are two USDA home loan programs to choose from and the eligibility standards are slightly different:

  • USDA Guaranteed Loan: For low to moderate income households that a private lender issues but USDA supports. You will not have any borrowing limit or ownership restrictions for this loan.
  • USDA Direct Loan: For low and very low income borrowers who need additional underwriting. The USDA funds the loan and it has more stringent income and ownership criteria. Also, the borrowing limit is $ 285,000 in most counties.

Here are the basic requirements that you will need to meet for each loan:

USDA loans FHA loans
Min. advance payment 0%
  • 3.5% (with a credit score of 580 or higher)
  • ten% (with a credit score between 500 and 579)
Min. credit rating 640 500
Income Limits Up to 115% of median household income Nothing
Debt-to-income ratio (DTI)
  • Up to 29% of monthly housing costs
  • Up to 41% of monthly debt payments
  • Up to 31% of monthly housing costs
  • Up to 43% of monthly debt payments
Loan limits
  • None for secured loans
  • Up to $ 285,000 for most direct loans
$ 356,362 for single-family homes in most areas
Location requirements USDA eligible rural areas only Nothing
Types of eligible properties Single-family main residences only Main residences between 1 and 4 apartments
Mortgage repayment terms 30 years fixed 30-year fixed rate, 15-year fixed rate and adjustable rate
Upfront costs 1% guarantee fee Initial mortgage insurance premium of 1.75%
Annual subscription 0.35% annual fee Up to 0.85% annual mortgage loan insurance premium

See also: Conventional loan conditions

USDA home loans have stricter income limits than FHA loans and also require you to live in an eligible rural area. Your home address and your annual household income determine your borrower’s eligibility for USDA loans.

The requirements of FHA borrowers, on the other hand, are more lenient because you may have a lower credit score. Multi-unit buildings are also eligible. However, you will need to make a down payment with an FHA loan.

USDA vs FHA vs conventional

Many home buyers will use a USDA, FHA, or conventional mortgage to purchase their home. Here is how these three types of loans differ.

USDA loans

These loans are only available to low to moderate income rural home buyers. Income limits vary by region but are relatively strict. USDA loans do not require a down payment, but you will need a minimum credit score of 640 and will have to pay an upfront guarantee fee of 1% plus an annual fee equal to 0.35% of the amount of. your loan.

FHA loans

Among government mortgage programs, you may have the easiest time qualifying for an FHA loan. You will only need a 3.5% down payment when your credit score is at least 580.

That said, you will likely pay mortgage insurance for the life of the loan, unless you can deposit at least 10%. This allows you to forgo your remaining payments after 11 years.

Conventional loans

Conventional mortgages have the strictest credit requirements, but they also offer competitive rates and can end up being cheaper in the long run. For example, you can avoid private mortgage insurance with a minimum down payment of 20%.

Credible does not offer FHA or USDA loans, but we can help you find a great rate on a conventional loan. Just enter some basic financial information and you’ll see multiple prequalified rates within minutes. After that, you can explore your loan options and find the one that best fits your budget.

Credible makes getting a mortgage easier

  • Instant simplified pre-approval: It only takes 3 minutes to see if you qualify for an instant streamlined pre-approval letter, without affecting your credit.
  • We keep your data private: Compare rates from multiple lenders without your data being sold or spammed.
  • A modern approach to mortgage loans: Supplement your mortgage online with banking integrations and automatic updates. Only speak to a loan officer if you want to.

Find rates now

Pros and Cons of USDA

USDA loans offer several advantages to borrowers, but there are some disadvantages that you should also consider.

Benefits of USDA

Here are some of the best reasons to consider a USDA loan:

  • No minimum deposit: Conventional loans and FHA loans both require some form of down payment, but USDA loans do not have such a requirement.
  • May not need cash reserves: Lenders may not require cash reserves to secure funding. However, including your qualifying balances may facilitate eligibility.
  • No maximum purchase price defined: USDA loans have no borrowing limit. Instead, the maximum amount of your loan depends on your repayment capacity.
  • Lower mortgage insurance costs: Your initial USDA guarantee fee is 1% of the loan amount and the annual fee is 0.35%. Both rates are lower than the FHA mortgage insurance premiums.
  • The seller can pay the closing costs: The seller can contribute up to 6% of the sale price. You can also receive unlimited gift funds to reduce your loan amount.

Disadvantages of USDA

Here are the main disadvantages of this loan program:

  • Good credit required: You will need a minimum credit score of 640 to be eligible for this loan, similar to conventional lenders. FHA lenders may only require a score of 580 or less.
  • Geographical restrictions: You must live in a rural area to be eligible for USDA funding. Fortunately, the definition is flexible, and many suburban and dormitory communities may be eligible if the population is below a certain amount.
  • Maximum income limits: For a USDA guaranteed loan, your household income cannot exceed 115% of your county’s Median Household Income (MHI). Households with incomes 80% below the MHI will need to apply for a USDA direct loan. Direct loans may have more stringent ownership and application requirements, but like secured loans, they do not require a down payment.
  • Lifetime Warranty Fee: All USDA loans require an upfront and annual guarantee fee for the life of the loan. Unlike FHA and conventional loans, making a qualifying down payment will not affect whether or not you pay for mortgage insurance.
  • Single-family homes only: Single family homes are the only type of qualifying property. This includes townhouses and condos, as long as you use the unit for your primary residence. Investment properties are not eligible.

Pros and Cons of FHA

FHA loans are a good option, especially if you have poor credit or a lot of debt. But they also come with their own set of drawbacks.

The FHA pros

Here are some of the best reasons to apply for an FHA home loan:

Disadvantages of FHA

  • Higher down payment terms: Depending on your credit score, you will need to make a down payment of 3.5% or 10%. USDA loans do not require a down payment.
  • Higher mortgage insurance premiums: Your initial and annual mortgage insurance premiums are higher than the USDA warranty fee and annual fee.
  • Difficult to cancel mortgage insurance: You will pay an annual mortgage loan insurance premium over the life of the loan, unless your down payment is 10% or more, in which case you will only pay mortgage default insurance for the first 11 years.
  • Mortgage limits: The maximum loan amount in 2021 is $ 356,362 for most counties. You may qualify for a higher limit if you live in a high cost area.

Keep reading: FHA vs. Conventional loans: which one is right for you?

About the Author

Josh Patoka

Josh Patoka is an authority on personal finance and a contributor to Credible. His work has been published on Fox Business and several award-winning personal finance blogs, including Well Kept Wallet, Wallet Hacks, and Frugal Rules.

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Top Small Business Lending Tools That Will Be Trending By 2025 https://gosic.org/top-small-business-lending-tools-that-will-be-trending-by-2025/ https://gosic.org/top-small-business-lending-tools-that-will-be-trending-by-2025/#respond Tue, 05 Oct 2021 08:11:58 +0000 https://gosic.org/top-small-business-lending-tools-that-will-be-trending-by-2025/

It’s no surprise that almost half of small businesses applied for a loan last year. Last year, 43% of small businesses filed with a small business lender, according to the Federal Reserve Small Business Credit Survey.

A small business loan is obtained by submitting an application to a commercial lender, usually your bank or other lending institution, along with the necessary documents and a business plan.

A business loan can help solve cash flow issues, capitalize on expansion opportunities, and even increase the value of a business. Planning a loan in advance and knowing the documents your lender will need when you apply is essential. Payroll, new equipment, and almost anything that helps a business grow is covered by small business loans.

We’ve picked the Best Small Business Loans of 2021 for this list because they offer affordable rates, fair repayment terms, and fees for qualified borrowers:

1. BlueVine

BlueVine is a financial technology company, not a bank, that provides small businesses with business auditing, business loans, and invoice factoring services. Their cost-effective invoice factoring solution allows cash-strapped businesses to increase their credit limits by giving 85-90% of the money up front.

BlueVine invoice factoring offers up to $ 5 million with a weekly interest rate of 0.25%. Minimum requirements include a FICO score of 530, three months in the business or more, monthly income of $ 10,000, and a B2B (business to business) business.

Advantages :

  • Quick approvals
  • To qualify you must have a minimum FICO score of 530
  • For loans originating in 2020, a PPP loan forgiveness request is now available

2. On the bridge

OnDeck term loans are distinguished by their advantages of rapid financing, loyalty and early repayment. If you are already doing business with this lender, they will waive any persistent interest rates and even the origination cost if you take out a new business loan.

OnDeck’s prepayment benefits allow borrowers to fully repay their loan while eliminating remaining interest without incurring additional expenses. OnDeck, on the other hand, takes a general lien on all the assets of a business and requires borrowers to sign a personal guarantee, which states that the lender can take on the borrower’s personal assets if the loan does not is not reimbursed.

Advantages :

  • $ 100,000 lines of credit and $ 250,000 small business loans are available
  • In minutes, you can apply for a loan online and have it approved.
  • A minimum credit score is required

3. Fund of funds

Fundbox is an AI-driven small business lending platform that offers lines of credit and short-term loans. According to the company, you can get a credit decision in as little as three minutes, making it one of the fastest ways to get accepted for a small business loan with an online lender today.

Borrowers can connect their business accounts to Insights Advantage software to obtain cash flow estimates, examine balances, and simulate business situations by entering possible transactions. To be eligible for a line of credit, the business must have used a relevant business bank account for at least three months before applying.

Advantages :

  • Lines of credit up to $ 150,000 are available
  • There is no minimum credit score or income criteria
  • There is no consequence for payment in advance

4. Fundraising circle

For qualified applicants, Funding Circle offers small business loans with fixed interest rates starting at 4.3% per annum, which is always lower than other short term small business lenders. Within an hour of submitting your online application, you will be contacted by a loan advisor who will help you determine the best option for your business.

Funding Circle loans have fixed monthly payments, and if you prepay your loan early, you will not be charged a prepayment penalty. A lien on your business assets is also required, as well as a personal guarantee from the principal business owners.

Advantages :

  • Loans of up to $ 684,000 are available
  • Online application with disbursement in three working days or less
  • There is no minimum income requirement

5. National funding

National Funding offers a variety of loan choices, including financing for small businesses with low credit. Borrowers must have a personal credit score of 500 for a direct loan (one of the lowest minimum scores among this type of lender) and 475 for renewals to qualify for a loan with national funding.

National funding assesses the company’s annual income, bank account and years of activity when granting approval. You can apply online and have your loan approved on the same day, with funds available in as little as 24 hours.

Advantages :

  • With no upfront fees, you can borrow up to $ 500,000
  • Early payment discounts
  • Loans are available for 6 to 15 months

Final thought

When choosing the business loan tool to use, you need to do sufficient research. Be sure of your state’s requirements as well as the type of loan your business requires.

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Singular Genomics: Silicon Valley Bank Debt Refinancing (Form 8-K) https://gosic.org/singular-genomics-silicon-valley-bank-debt-refinancing-form-8-k/ https://gosic.org/singular-genomics-silicon-valley-bank-debt-refinancing-form-8-k/#respond Mon, 04 Oct 2021 13:14:40 +0000 https://gosic.org/singular-genomics-silicon-valley-bank-debt-refinancing-form-8-k/

Silicon Valley Bank debt refinancing

On September 30, 2021 (the “Closing Date”), Singular Genomics Systems, Inc. (the “Company”) refinanced its existing loan with Silicon Valley Bank (the “Lender”). In connection with this refinancing, the Company, as the borrower, entered into an amended and restated loan and guarantee agreement (the “Loan and Guarantee Agreement”) with the lender. The loan and guarantee agreement amends and restates the Company’s loan and guarantee agreement, dated November 19, 2019, entered into by and between the Company and the lender (the “Previous Loan Agreement”).

Rising. The Loan and Guarantee Agreement provides for term loans with an aggregate principal amount of up to $ 35.5 million to be made in three tranches (“Term Loans”). The tranches consist of: (i) a term loan advance (the “First Tranche”) to the Company in the aggregate principal amount of $ 10.5 million at the loan closing date; (ii) an additional term loan advance (the “second tranche”) available to the Company until September 30, 2022 in an aggregate principal amount of $ 15.0 million; and (iii) subject to the approval of the Lender, the Company’s right to request that the Lender provide an additional term loan advance (the “Third Tranche”) to the Company in the aggregate principal amount of 10 , 0 million dollars. The proceeds of the First Tranche were used to fully repay the existing debt under the Pre-Lender Loan Agreement. The Company intends to use the remainder of the proceeds from the term loans for working capital and other general corporate purposes.

Maturity. The term loans mature on September 1, 2026 (the “Maturity Date”).

Interest rate and amortization. The principal balance of term loans bears interest at an annual rate equal to the greater of (a) 0.75% plus the prime rate as indicated in The Wall Street Journal and (b) 4.00%. Borrowings under the Loan and Guarantee Agreement are repayable in monthly interest payments until September 30, 2024. After the interest payment period only, borrowings under the Loan and Guarantee Agreement are repayable. collateral are repayable in twenty-four equal monthly installments of principal and accrued interest. .

Final payment. The Company will pay 4.00% of the advanced amount of the Term Loans, due on the first maturity date or upon termination of the Loan Facility (the “Final Payment”).

Prepayment charge. The Company may, at its option, at any time, prepay all, but not less than all, term loans by paying the outstanding principal balance plus accrued and unpaid interest, subject to a premium of early repayment equal to: (i) 3.0% of the principal amount outstanding if the early repayment takes place before September 30, 2022; (ii) 2.0% of the unpaid capital if the early repayment takes place on or after September 30, 2022 but before September 30, 2023; or (iii) 1.0% of the unpaid principal if the early repayment takes place on or after September 30, 2023 but before the due date. Any such prepayment must be accompanied by a payment of the part in proportion to the final payment due under term loans in prepayment.

Security. The obligations of the Company are secured by a first priority lien on substantially all of the Company’s assets other than the Company’s intellectual property, with negative collateral on the Company’s intellectual property.

Alliances; Representations and guarantees; Other provisions. The loan and guarantee agreement contains customary declarations, guarantees and commitments, including commitments limiting the Company’s ability to, inter alia: incur additional debts; incur additional privileges (including a negative pledge on intellectual property); carry out mergers, acquisitions and consolidations; proceed with asset sales; make investments and loans; engage in certain business changes; carry out transactions with affiliates; declare dividends and make other distributions; and make payments on certain other debts. The Loan and Guarantee Agreement also contains customary restrictive covenants requiring the Company, among other things, to provide certain financial reports to the lender, comply with applicable laws and regulations and maintain customary insurance policies.

Default provisions. The Loan and Guarantee Agreement provides for the usual events of default for term loan facilities of this type, including, but not limited to: default; breaches or breaches of the performance of commitments or declarations and guarantees; bankruptcy and other insolvency events of the Company; the occurrence of a material adverse change as defined in the loan and guarantee agreement; and cross defaults with certain major agreements, subordinated debts, major judgments and foreclosures. After the occurrence of an event of default, the Lender may: (i) expedite the payment of all obligations; (ii) require certain payments or deposits from the Company and perform all acts necessary to complete their security on the assets of the Company; or (iii) notify one of the debtors of the Company’s account to make payment directly to the lender.

The foregoing description of the Loan and Guarantee Agreement is not intended to be complete and is qualified in its entirety by reference to the full text of the Loan and Guarantee Agreement, including a copy, subject to any applicable confidentiality. , will be filed as an attachment to the Company’s Quarterly Report on Form 10-Q for the quarter ending September 30, 2021.

Creation of a direct financial obligation or obligation under an off-balance sheet arrangement of a registrant.

The information provided in section 1.01 of this current report on Form 8-K is incorporated by reference in this section 2.03.

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Singular Genomics Systems Inc. published this content on 04 October 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 04 October 2021 13:10:54 UTC.

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How the Ozy Media guru has kept the house of cards from falling apart so far https://gosic.org/how-the-ozy-media-guru-has-kept-the-house-of-cards-from-falling-apart-so-far/ https://gosic.org/how-the-ozy-media-guru-has-kept-the-house-of-cards-from-falling-apart-so-far/#respond Sat, 02 Oct 2021 08:12:18 +0000 https://gosic.org/how-the-ozy-media-guru-has-kept-the-house-of-cards-from-falling-apart-so-far/

Over the past week, Ozy has gone from a seemingly successful media startup to a now-closed colossal wreck, thanks to a New York Times expose And subsequent report from others electrical outlets to suggest Ozy may have been built on deception.

Reporting on the wide array of alleged misconduct by Ozy’s management raised the question: How has the company, which launched in 2013, avoided scrutiny for so long?

The Daily Beast spoke to more than a dozen current and former Ozy employees, many of whom highlighted the efforts of Ozy founder and CEO Carlos Watson to quell dissent both internally and externally. A spokesperson for Ozy did not respond to a request for comment for this story.

Staff members expressed reluctance to publicize their concerns about the workplace culture or the alleged health of the company due to the strict nondisclosure agreements they signed with Ozy, a move unusual for a group of journalists. Insider and CNN both reported this week on how staff members thought the company was operating as a “Carlos cult”, With the founder both allegedly bullying and charm employees to work 18-hour days and keep internal doubts to themselves.

And Watson seemed to have been successful in battling negativity from other media as well.

In 2019, Ozy featured an article on his annual Ozy Fest for Inc. magazine, a business-focused publication known for its tips and advice for startups, managers, and business owners. But in this case, Inc. heard of a frustrating and low morale work environment at Ozy, where many staff were demoralized by long hours and verbal reprimands from some managers. (Several electrical outlets this week reported as much.)

As a reporter for the publication continued to investigate, Watson struggled to convince the magazine not to publish its reports, even going so far as to fly to New York to meet in person. Inc. brass to implore them to abandon history. The ploy apparently worked; the best editors of Inc. became convinced they didn’t have enough supply to spread a story.

Inc. disputed that Watson’s efforts convinced superiors not to publish, instead saying the outlet was uncomfortable with its own sourcing at the time. “This is absolutely inaccurate. Inc. was pursuing a potential story about the company that didn’t come to fruition because people weren’t willing to do it,” a spokesperson wrote in an email to The Daily. When asked if the magazine regretted not publishing its article, in light of subsequent articles reporting similar concerns about Ozy’s culture in the workplace, the spokesperson reaffirmed than Inc. had “only rumors and no source willing to speak officially.”

Other outlets were apparently less convinced by Watson’s charm.

At the end of 2017, BuzzFeed News published a detailed and damning report about a number of digital publishers buying fraudulent web traffic. The main focus of the story was Ozy, who had just announced a major investment of $ 35 million and bragged about big advertisers like JPMorgan Chase, Amazon and Visa. The report explained how Ozy purchased a service that “automatically loads specific web pages and redirects traffic between participating websites to quickly accumulate views without any human action.”

The story sounded alarm bells inside Ozy, and multiple sources told The Daily Beast that Watson even called then-editor Ben Smith to try and dissuade BuzzFeed News from publishing. While Watson ultimately failed to stop the play, there was a small victory for Ozy: The company was able to convince BuzzFeed not to post how Ozy’s traffic appeared to come from at least one website. pornographic. (Several points of sale reported this week to Ozy’s questionable means to get web traffic.)

And Watson was not shy about shutting down parts of his own company reports. For example, insider reported this week, according to a former editor, Watson killed an Ozy story when she mentioned one of the firm’s own investors.

The digital media startup’s public denouement, which culminated on Friday with Ozy’s council stopped the whole operation– started last weekend when The New York Times reported that COO Samir Rao posed as a YouTube executive during a fundraising appeal with Goldman Sachs officials. The bank reportedly mistrusted the presentation when an infiltrator Rao overstated the performance of Ozy’s videos on the streaming platform. (The Times further reported that law enforcement was investigating the appeal.)

Watson blamed the deceptive ploy on the rao’s mental health struggles, who was asked to take time off pending investigation by an external law firm Paul, Weiss, Rifkind, Wharton and Garrison LLP. But following the Times report, a host of other questions regarding Ozy’s marketing, fundraising, workplace and partnerships emerged, mostly centered on Carlos Watson’s show, a daily interview show hosted by the CEO and founder of the same name.

For example, like The New York Times reported, Watson and Rao urged the show’s producers to have it distributed by A&E, a claim used to entice celebrities like actor Terry Crews and writer Malcolm Gladwell to sit down for interviews. Carlos Watson’s showBrad Bessey’s executive producer resigned when he found out the show was in fact not scheduled to air on A&E, written in a scathing note to Watson and Rao: “You are playing a dangerous game with the truth. The consequences of giving guests an A&E show when we don’t have one are catastrophic for Ozy and for me.

Nonetheless, Watson continued to claim the show would air on A&E and at one point claimed it would become a YouTube Original, special status for paid programming by the video streaming giant. However, when the show finally debuted, it was simply hosted on Ozy’s own YouTube page.

Elsewhere, Ozy has used deceptive marketing tactics to promote Watson’s show and the media company to the general public. An advertisement labeled the show “the most important trade fair of 2020», A quote attributed to Los Angeles Times even if the newspaper could not find any trace of this praise written by its journalists or columnists. Another advertisement called Watson “the best interviewer on television,” citing entertainment media Deadline when in fact, this quote came from the leaders of Ozy themselves. A splashy MTA bus ad for the Watson show declared it to be “Anderson Cooper meets Oprah” – praise awarded once again to the Los Angeles Times when it comes from Ozy own paid content.

Bloomberg reported that Ozy has faced several lawsuits for allegedly failing to pay a company he hired to inflate web traffic and for defaulting on a large small business loan from Regis Capital Group, a Florida-based direct lender. And several outlets further reported that Ozy appeared to serve as a trademark exercise for Watson, a former MSNBC personality, and as such resulted in a allegedly abusive workplace with intense pressure to produce at an exceedingly unrealistic level.

Ozy hired an outside crisis PR firm this week as advertisers and investors bailed out and key figures including former BBC reporter Katty Kay and Chairman of the Board of Directors Marc Lasry resigned. But the damage was done and Ozy is no more.


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Impel NeuroPharma: Creation of a direct financial obligation or obligation under an off-balance sheet arrangement of a holder (Form 8-K) https://gosic.org/impel-neuropharma-creation-of-a-direct-financial-obligation-or-obligation-under-an-off-balance-sheet-arrangement-of-a-holder-form-8-k/ https://gosic.org/impel-neuropharma-creation-of-a-direct-financial-obligation-or-obligation-under-an-off-balance-sheet-arrangement-of-a-holder-form-8-k/#respond Fri, 01 Oct 2021 20:13:09 +0000 https://gosic.org/impel-neuropharma-creation-of-a-direct-financial-obligation-or-obligation-under-an-off-balance-sheet-arrangement-of-a-holder-form-8-k/

Creation of a direct financial obligation or obligation under an off-balance sheet arrangement of a registrant.

As previously disclosed, Impel NeuroPharma Inc. (the “Company”) entered into a loan and guarantee agreement (the “Agreement”), dated July 2, 2021 (the “Closing Date”), with Oxford Finance LLC ( “Oxford”), as guarantee agent and lender, and Silicon Valley Bank (“SVB”), as lender (in conjunction with Oxford, the “Lenders”) pursuant to which a term loan of up to $ 50.0 million in principal has been made available to the Company. Under the agreement, a term loan of $ 20.0 million was previously funded at the closing date, leaving two additional term loan advances of $ 10.0 million and $ 20.0 million. available under the agreement after the closing date.

On September 30, 2021, the Company elected to draw down the second advance of $ 10.0 million on the term loan under the Agreement (the “B Term Loan”). Immediately following this drawdown of $ 10.0 million, borrowing capacity of $ 20.0 million remained available under the agreement, subject to the terms and conditions set forth therein.

In addition, under Term Loan B, the Company issued the lenders’ warrants to purchase 23,166 common shares of the Company at an exercise price per share of $ 12.95 (the ” “). The warrants may be exercised for 10 years from the date of issue.

The foregoing description of the Agreement is qualified in its entirety by reference to the full text of the Agreement which was filed as Exhibit 10.4 of the Quarterly Report on Form 10-Q filed by the Company on August 16, 2021.

Unregistered sales of equity securities.

The information set out in Section 2.03 above relating to the Warrants is incorporated by reference in this Section 3.02. The issuance of the warrants and the issuance of the ordinary shares of the Company underlying the warrants will be carried out on the basis of the exemption from registration contained in section 4 (a) (2) of the Securities Act of 1933, as amended.

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Impel Neuropharma Inc. published this content on 01 October 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 01 October 2021 20:12:09 UTC.

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Glass Mountain Announces Restructuring Support Agreement With More Than Two-Thirds Of Lenders To Complete Complete Balance Sheet Restructuring https://gosic.org/glass-mountain-announces-restructuring-support-agreement-with-more-than-two-thirds-of-lenders-to-complete-complete-balance-sheet-restructuring/ https://gosic.org/glass-mountain-announces-restructuring-support-agreement-with-more-than-two-thirds-of-lenders-to-complete-complete-balance-sheet-restructuring/#respond Fri, 01 Oct 2021 19:15:00 +0000 https://gosic.org/glass-mountain-announces-restructuring-support-agreement-with-more-than-two-thirds-of-lenders-to-complete-complete-balance-sheet-restructuring/

Debt reduction of over $ 230 million and injection of $ 45 million into new capital positions Company for the long-term growth and development of businesses

Glass Mountain Pipeline Holdings LLC (the “Society” Where “Glass mountain“) announced today that with the support of its sponsor GEPIF Glass Mountain Pipeline LLC (the”Sponsor“) and lenders holding 66.97% of the Company’s revolving and term loans (the”Willing lenders“), it has entered into a restructuring support agreement (the”RSA“) which provides for the elimination of over $ 230 million of debt from the Company’s balance sheet and an investment of $ 45 million from the developer.New term loan facility“) issued by a new borrowing entity (the”New borrower“) which will be the direct parent company of Glass Mountain and Navigator Panhandle HoldCo LLC, and (ii) a cash payment of $ 44,038,698.89. The new term loan facility will be secured by the guarantee of the existing loans and a first priority pledge of the holdings of the New Borrower, its direct subsidiaries and each guarantor.

The Company and its advisers continue to work with the Company’s lenders to obtain 100% transaction support so that the RSA can be effected out of court in October 2021. To the extent that this threshold cannot be met , the parties to the RSA have already agreed to a pre-established reorganization plan under Chapter 11 of the United States Bankruptcy Code. While the Company expects to receive 100% support from its lenders, the Company anticipates that the Chapter 11 plan, under which all general unsecured claims would be intact and paid in full, would be confirmed and consummated quickly and efficiently. The Company does not anticipate any changes in its day-to-day operations or in the services it provides to its clients throughout this process.

Paul, Weiss, Rifkind, Wharton & Garrison LLP and Gray Reed & McGraw LLP are legal advisers to the company and PJT Partners LP is the investment banker of the company.

Akin Gump Strauss Hauer & Feld LLP acts as legal advisor and Perella Weinberg Partners LP and Tudor, Pickering, Holt & Co. act as financial advisers to an ad hoc group of willing lenders.

About Glass Mountain

Glass Mountain owns and operates a fully integrated pipeline system in the Anadarko area of ​​Oklahoma and provides comprehensive services to oil producers, including the collection, transportation and storage of crude oil. Glass Mountain is headquartered in Dallas, Texas.

Forward-looking statements

Statements in this press release that express any belief, expectation or intention, as well as those that are not historical facts, are forward-looking statements made in good faith that are subject to risks, uncertainties and assumptions. . These forward-looking statements are based on our current beliefs, intentions and expectations. All statements that express or involve discussions regarding expectations, beliefs, plans, objectives, assumptions, future events or performance are not historical facts and may be forward-looking and, therefore, such statements involve estimates, assumptions and uncertainties, which could cause actual results to differ materially from those expressed in these forward-looking statements. Our actual results, performance or achievements could differ materially from those expressed in the foregoing discussion due to various factors, including general economic and business conditions and industry trends, price levels and volatility of the oil and gas, continued demand for drilling or production services in the geographic areas in which we operate, the competitive nature of our business, technological advancements and trends in our industry, the loss of one or more of our major customers or a decrease in their demand for our services, the fulfillment of commitments under debt agreements, the continued availability of qualified personnel, the occurrence of cybersecurity incidents, the political, economic, regulatory and other uncertainties encountered by our operations, and changes, or our failure or inability to comply with regulations government. These factors are not necessarily all of the important factors that could affect us. Other unforeseeable or unknown factors could also have a material adverse effect on the actual results of the matters that are the subject of our forward-looking statements. All forward-looking statements speak only as of the date they are made and we assume no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events. or otherwise. We advise readers to recognize that important factors not mentioned above could affect the accuracy of our forward-looking statements and to use caution and common sense when reviewing our forward-looking statements.

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