A doctor in Buffalo wants to be able to help more opioid addicts, but the government shutdown stands in his way. Landlords worry about losing the rent subsidies that help nearly 20,000 low-income families afford a place to live. In Buffalo and beyond, businesses find themselves unable to get the government-backed business loans they expected. And in Geneseo, a farmer expects to miss out on nearly $45,000 in income the government had promised him to compensate for his losses from President Trump's trade war with China. Those are just some of the increasingly wide-ranging effects of the three-week-old shutdown that is now the nation's longest ever. The federal operations that people see on a daily basis — the mail delivery people, the customs agents at the Peace Bridge, the Transportation Security Administration agents at the Buffalo Niagara International Airport — continue to work every day, even though Customs and TSA agents are among the essential federal personnel working … [Read more...] about Shutdown’s WNY victims: opioid treatment, pinched farmers, business loans
Rachel Weiner, Matt Zapotosky, Moriah Balingit and Steve Thompson, The Washington Post Published 5:30 pm PDT, Friday, August 3, 2018 ALEXANDRIA, Va. - One of Paul Manafort's accountants testified Friday that she went along with falsifying his tax records because she was afraid to confront a longtime client. Cindy Laporta said that in 2015, Manafort's right-hand man, Rick Gates, told her his boss couldn't afford to pay his taxes. To ease that burden, she said, Gates instructed her to misrepresent $900,000 in income as a business loan. "I had a couple of choices at that point," Laporta said. "I could have refused to file the tax return," which she said could lead to litigation with Manafort's firm. "I could have called Mr. Manafort and Mr. Gates liars," she said. "But Mr. Manafort was a longtime client of the firm, and I did not want to do that, either." Recommended Video: Now Playing: President Donald Trump's ex-campaign aides Paul Manafort and Rick Gates are … [Read more...] about Accountants testify Manafort inflated loans, failed to disclose foreign accounts
Advertisement feature for When it comes to finding the right bank to serve your business, it is easy to assume that the big names are your only options So-called “high street” banks are very visible in the business space. Many offer free periods of current account banking for new start-ups, or for companies transferring their banking from another provider. And most will also offer loans for businesses that are looking for financing. Hence, it can be tempting to use the bank that holds your current account when you need to borrow money. But according to some financial experts, there could be better deals available on loans and current accounts, so businesses may do better to look beyond traditional loan financing when trying to find the best ways to grow their businesses. Which business current account is best for you? In the same way as it pays to do a bit of homework before choosing an individual current account that suits your needs, it is worth making a list … [Read more...] about Could sticking with your bank be harming your business?
Updated 10:31 am PDT, Wednesday, July 11, 2018 Photo: Michael Probst, AP Image 1of/1 CaptionClose Image 1 of 1 Birds fly over the river Main as the sun sets in Frankfurt, Germany, Saturday, July 7, 2018. Birds fly over the river Main as the sun sets in Frankfurt, Germany, Saturday, July 7, 2018. Photo: Michael Probst, AP ECB taking action to reduce bad loans at eurozone banks 1 / 1 Back to Gallery FRANKFURT, Germany (AP) — The European Central Bank said Wednesday it is taking further steps to address the problem of bad loans burdening bank finances and clogging the flow of credit to the economy. The ECB said it would set expectations for each financial institution on putting aside adequate cash reserves to cover business loans that aren't likely to be repaid on time or in full. Soured loans have been a … [Read more...] about ECB taking action to reduce bad loans at eurozone banks
COMPANIES in Northern Ireland have tapped up a UK-wide business loan fund for more than three quarters of a million pound, most of it in the hospitality sector.Last year the government Start Up Loans scheme, which has been running since 2012 and espouses responsible lending, handed out £62.8 million across 20 sectors, of which around £20m went to London and the South East while just £778,690 went solely to Northern Ireland.Of this, £101,500 was invested into restaurants and £34,500 towards clothes shops, while there was a £20,400 investment into hair & beauty.Northern Ireland was one of three UK regions which received the least funding for the construction sector (£5,500), while not a single penny was borrowed to invest into the health & social work sector.Cameron Bisset, digital content manager for Start Up Loans said: “We back thousands of start up businesses each year and want to share some of the transformations with the public via a … [Read more...] about Businesses tap into £778,000 from government-backed loans fund