Equity First Holdings Introduce New Ways of Acquiring Loans

Equity First Holdings LLC is a U.S based financial institution. However, it has expanded its operations in several parts of the world. Lately, they have penetrated the United Kingdom market. The company targets organizations and extremely wealthy individuals who are in need of non-purpose capital. They have specialized in awarding loans based on stock or shares trading publicly in the stock market. After evaluation of the risks involved and the expected future performance associated with the stock, shares, bonds, and treasuries of the client, they can choose to award the loan or not depending on the results of the evaluation.

Equity First Holding was founded in 2002 and has its headquarters in Indianapolis, Indiana. The company also has a satellite office in the city of New York. The company runs its operation under the management of the President and Chief Executive Officer Mr. Al Christy Jr. The company has several executives with Mr. Jeff Smith being the Managing Director.

Most of the company client base is composed of organization and wealthy individuals who have otherwise been rejected by conventional lenders. Christy says that there is a group of investors who cannot be given loans by the conventional banks due to the rules and requirements governing those institutions. As a result, these individuals and organizations have turned to equity lenders for money. Over the years, Equity First Holdings have registered an exponential growth in their customer base. The Chief Executive Officer says that when it comes to awarding loans or accessing capital, efficiency, speed, and flexibility are rare attributes to find with conventional lenders.

With this in mind, Equity First Holdings have made it their core go to tap into these qualities which have consequently, improved customer satisfaction. The company offers better terms when awarding loans based on stock. In a case where the stock appreciates, the client retains 100 percent of the market value during maturity. It also offers lower interest rates as considered to banks. It also maintains a fixed interest rate for the whole duration of the loan payment. Moreover, the company holds no restrictions to the usage of the loans awarded unlike with some conventional lenders that govern the use of the funds.

Devco Caught In The Middle Of Loan Dispute

The Heldrich Hotel, which was renovated through a loan secured from the Casino Reinvestment Development Authority (CRDA), isn’t quite panning out as planned. The hotel is losing money left and right and the loan is in arears by some $1 million.
The New Brunswick hotel was rundown and vacant before the New Brunswick Development Corporation (NBDC) stepped in. The hotel was to be the model of Atlantic City, but it has turned out to be anything but.

Not only has the Middlesex County Improvement Authority failed to make good on its last installment of $1 million in interest, it has also defaulted on nearly $7 million in payments initially received.

Christopher Paladino, CEO of the CRDA, helped arrange the $20 million loan. In an interview with the www.PressofAtlanticCity.com, he assured readers that the loan will be paid but it will take some time.

Apparently, the market was misjudged and the 235-room establishment’s opening coincided with an economic downturn. “There is no doubt that the hotel is struggling. The average occupancy rate runs around 67%,” said Paladino.

The hotel has been so cash-strapped that it was forced to tap into other monies to make payments.

The hoopla surrounding the issues with the MCIA has caused a firestorm of controversy.

Recently as reported by the Press of Atlantic City, Governor Chris Christie signed a bill forbidding state agencies giving loans to entities that are also defaulted on loans issued by the state.

“I have to admit, the loan was risky, said CRDA. But that is the price of doing business.

Devco is a New Jersey-based non profit that has catered to a number of private and public entities all throughout the state. The company has worked to beautify the state with a number of projects. The company is currently renovating Rutgers University and setting the tempo to duplicate the lifestyle of other cities.