Banks and our Economy

IndyMac closed their doors the week of July 7th and the FDIC has taken over the bank. For people who have less than $100,000 in their accounts the FDIC insures their funds. For those that have over $100,000 the bad news is they are not guaranteed to get their money reimbursed.

The FDIC has documented that there are over 90 banks on the watch list. These are banks that are deemed as having risk to fail. The FDIC does not release the names of these banks.  Leasing News printed the following information on their website.

More on Troubled Banks

The Federal Deposit Insurance Corporation (FDIC) reportedly has an official list of 90 troubled banks. ABC News reports they have obtained other lists prepared by several research groups and financial analysts.

The lists use versions of the so-called “Texas ratio” which compare a bank’s assets and reserves to its non-performing loans, based on financial data made public by the FDIC in March, 2008.

Accordingly, banks with a ratio over 100 per cent would be the most likely to fail, based on what happened to Texas savings and loans during the 1980’s, they report.

Bank	City	State	“Texas-ratio”
Colorado Federal Savings Bank	Greenwood Village	CO	244.8
Eastern Savings Bank, FSB	Hunt Valley	MD	222.7
Integrity Bank	Alpharetta	GA	191.6
Ameribank, Inc.	Welch	WV	153.7
First Priority Bank	Bradenton	FL	122.6
First Security National Bank	Norcross	GA	112.1
Magnet Bank	Salt Lake City	UT	110.4
Security Pacific Bank	Los Angeles	CA	102.8
First National Bank of Brookfield	Brookfield	IL	102.1
The State Bank of Lebo	Lebo	KS	100.6

Source: Research Associates of America

The industry experts are predicting that this downturn will continue for awhile. PFC has multiple underwriters that allow us to continue to offer A-D lending to our vendors and clients. If you need a loan and are having trouble obtaining one please contact Pamela Hewett at phewett@pfcfinance.com or Call 1-877-835-1253.

Banks Losses Continue

Kit Menkin with the Leasing News published this article June 6, 2008. Though banks credits are tightening companies such as Physician Finance Consulting and Professional Finance Consulting have multiple sources to help companies secure financing.  We compile your information and find the bank that is interested in the type of financing your company desires. For more information on a loan or the process contact Pamela Hewett at 1-877-835-1253 or phewett@pfcfinance.com..

Leasing rates goes up 75 basis points in the last few weeks

Kit Menkin at The Leasing News published the following article. While many borrowers hear the news that the Feds have lowered rates they believe that transcends into lower rates for them. The following helps explain why that is not usually the situation.

To lock in a loan rate for your business now or for consulting help in acquiring a loan you can contact Pamela Hewett at 1-877-835-1253 or at phewett@pfcfinance.com.

Can I pay off my business lease early?

This is a question asked by almost every business owner that leases equipment. Unfortunately, due to the fact that the leasing industry isn’t heavily requlated the answer to this question can be very misleading.

As the President(Pamela Hewett) of Physician Finance Consulting and Professional Finance Consulting I’d like to outline what the answers you may get mean and how to figure out if you truely can pay it off early. For those interested in seeing contracts that show these misleading clauses feel free to contact me at 877-835-1253 to review your lease or loan documents. Or email me at phewett@pfcfinance.com.

The Federal Reserve lowered their rate last week

The Federal Reserve lowered their rate last week. Though the Fed rate has gone down overall interest rates to lenders seem to have gone up slightly in the last few weeks. Physician Finance Consulting’s and Professional Finance Consulting’s rates continue to be low though some of our underwriting banks raised their rates a half point. PFC will work to keep our rates low. PFC offers loans to businesses for working capital, equipment leasing, business or practice acquistion, leasehold improvement loans, and lines of credit. For more information or help securing a business loan call 1-877-835-1253 or go to www.pfcfinance.com.

Finally the Credit Card Companies may have to stop unfair credit card practices

Physician Finance Consulting, is pleased to announce that the Congress is FINALLY starting to look at the credit card companies and their unfair credit card practices. Many of us have fallen victim to having to pay late charges because our credit card payment  was late(even by one hour) or had our interest rate increased to 18-29% . When you contact your credit card company, you usually receive very little customer service and it’s rare they will change the rate or delete the late charge. In the meantime, we receive tons of mail asking us to sign up for their 0% program only to find out a few months into the contract that buried somewhere in the very tiny print was a clause that stated if we were late on our payment(even one hour) the 0% program was void and the rates would go up to a high rate.

Leasing and Finance Association News

Leasing News published this information on April 25, 2008

The Equipment Leasing and Finance Association (ELFA) MLFI-25 report showed originations going from $5.4 billion to $7 billion from February to March, but stated in their press release to the media: “the increase was anticipated due to the quarter-ending cyclicality of the equipment finance business.”

Recent News on federal funds rates

ELFA eNews Daily
Wall Street Journal (04/24/0
P. A1 ; Ip, Greg; Kingsbury, Kevin

The Federal Reserve has cut the federal funds rate to 2.25 percent from 5.25 percent, amounting to seven reductions over a span of eight months, and experts anticipate another 0.25 percentage point cut at its April 29-30 meeting. However, experts think the central bank could take a breather after the next rate cut to give officials time to assess the impact of rate reductions, upcoming tax rebates, and other measures on the economy during the latter half of the year. Moreover, there are concerns that further reducing the federal funds rate could increase inflationary pressure and weaken the dollar even more.

Physician Finance Consulting, Inc. selected as one of Eleme’s Preferred Finance Companies

Physician Finance Consulting, Inc. of Tampa, Florida was selected by the corporate office of Eleme Medical to be one of their preferred finance companies.

Eleme has a new product called Smooth Shapes which was recently featured on The View and in O Magazine.

The Eleme website describes the product and treatment as; The SmoothShapes™ treatment provides longer lasting results from dimpled skin known as cellulite. Studies show that 85-98% of post-pubertal women have cellulite. Disappointed with current treatments, many practitioners and patients are looking for a solution they can believe in. The SmoothShapes System uses a proprietary technology called Photomology™ for treating cellulite by restoring adipose cells and improving the less flexible fibrous septae. Photomology’s mechanism of action combines laser (915 nm) and light energy (650 nm) with manual manipulation and vacuum to affect the tissue that is responsible for the appearance of cellulite. SmoothShapes represents a significant improvement in the way cellulite is treated.

PFC is excited about this new opportunity to provide equipment financing to physicians nationwide for Eleme; said Pamela Hewett, the President of PFC.

PFC provides vendor equipment finance programs; as well as, physicians loans for financing working capital, debt consolidation, practice acquisition or expansion, leasehold improvements and equipment leasing and loans.

For more information on PFC please visit the website www.pfcfinance.com

Student Loans affected by Banking Crisis

Latest news from www.msn.com read as follows:

Students in need of private loans to pay for college costs for the coming academic year will have to grapple with higher interest rates and tougher credit checks. Even then, some who have qualified for such loans in the past probably won’t this year.

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