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Tag Archives: interest

Trump Signs Coronavirus Aid, Relief, and Economic Security Act

On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (the “Act”), the third stimulus package, to provide nearly $2 trillion of support to families and businesses during the COVID-19 pandemic. While the Act provides tax relief for both individuals and businesses, this Legal Update focuses on …

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Defer compounding interest during 6-month moratorium

LETTERS FOMCA fully supports the deferment of loan or financing repayments for the next six months. During the next six months, SMEs and households do not need to make their monthly fixed payments to the banks. This would be of tremendous benefits to consumers, as many are already facing job …

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Interest rates at zero, best time to refinance loans

With millions of American losing their jobs or seeking their work hours curtailed, we could all use a few extra dollars. The federal government are slashing interest rates and it could help if thinking about refinancing some high interest loans. One of the few upsides of economic turmoil are plunging …

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The Economic Impact of the Coronavirus: Devon Avenue

Along a 2-mile stretch of Devon Avenue in Chicago’s West Ridge community, you’ll find one of the most diverse neighborhoods in the country, one that’s long been home to Indians, Pakistanis, Syrians and orthodox jews.  The street is dominated by small business like restaurants, markets and bakeries. Most have closed …

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