A Volunteer In The U.S. Receives First Vaccine For Covid19

The whole world is alarmed about the spread of the corona disease and the impact it has done on financial markets. Many small and medium scale businesses have been severely affected, with the increase and demand and the decrease and supply, the worse is yet to come. Governments are coming up with financial support for these businesses to recuperate through a low-interest quick loan and other financial assistance programs such as grants.

While world leaders are putting their heads together to put order and reduce panic among people, researchers and scientists are doing their part to come up with a vaccine to put a stop to this pandemic. 

The clinical test for a possible vaccine against the coronavirus has started at a research institute in Seattle. 45 healthy volunteers are to be injected with the product in its first test phase. A warning that ibuprofen would exacerbate the lung disease Covid-19 is currently circulating on social networks. There is currently no evidence of this.

As an increasing number of people get infected with covid19 coronavirus, scientists are starting to know more about the newest pathogen as well as its impact. Many conclusions are just preliminary and will be verified, supplemented, or even modified with time.

Clinical trial for vaccine starts in the United States

Several laboratories worldwide are currently researching vaccines against Covid-19. In the USA, a volunteer has now received a possible vaccination test for the first time. That was part of the first phase of the clinical trial at a research institute in the northwest metropolis of Seattle, the National Institutes of Health (NIH), which belongs to the US Department of Health, said on Monday. 45 healthy volunteers between 18 and 55 are expected to take the test in the coming weeks.

The vaccine called “mRNA-1273” is being developed together with the private biotechnology company Moderna. The first test phase could be started in “record time”, said Anthony Fauci, director of the National Institute for Infectious Diseases. The entire process of developing a vaccine is still expected to take at least one to a year and a half, according to Fauci.

Does ibuprofen harm?

Avoid drinking certain medications to prevent infection: There are currently a number of unsecured messages circulating on social networks that unsettle many people. French minister of health said on Twitter that ibuprofen can make coronavirus contamination even worse. If there are indications of fever, the patient should take in paracetamol.

The national health director in France also said to stay away from taking non-steroidal anti-inflammatory drugs (NSAIDs). Furthermore, aside from ibuprofen, these band of substances includes acetylsalicylic acid or otherwise referred to as ASA (aspirin) as well as diclofenac.

The BNITM – Bernhard Nocht Institute for Tropical Medicine adds that a link concerning taking NSAIDs and cases of Covid-19 has not yet been established: “We know little about the pathogenesis of the Sars virus – CoV-2. There is no clinical data on this yet. ”

Rumors On Social Media Regarding Ibuprofen

Rumors on social media are circulating that ibuprofen also increases the susceptibility to infection with the coronavirus. The allegation is supported by an alleged study by the University of Vienna. The university made it clear on Twitter that the allegation was fake news and had nothing to do with the educational institution. The Austrian Ministry of Health also declared the report to be a false claim.

As people all over the world are waiting anxiously about what researchers and scientists have found out, what medications to take to fight the virus, rumors wouldn’t do anything good but instead increase the stress that the whole world is going through now. Leaders of all nations are now asking media and others active on social media to stop spreading alarming news without any evidence to prove it.

The Coronavirus Sets Off Panic Sales Within The US Stock Exchange

In the midst of the virus panic, the wall street is experiencing a considerable crash. The Dow Jones suffers from an ongoing daily loss following the financial crisis. On top of the concern for further economic impact, the downturn in oil prices has the biggest effect on U.S. stock prices.

The coronavirus spread and a huge slump on the global oil market had directly affected the U.S. stock market to fall. Over a couple of weeks ago, the Dow already lost close to 11%, specifically because of the approaching outcomes of the corona epidemic on the global economy. NASDAQ 100 decreased from 6.83% to 7,948.03. Following panic sales, the share trading was disturbed for about 15 minutes. Within the first minutes of trading, price fluctuations were so great that it resulted in the exchange to temporarily stop trading.

Coronavirus stokes fears on Wall Street

On top of the impact of the coronavirus on the global economy, falling oil prices also add to the tension. The oil market experienced its worst price plunge nearly 30 years after the failure of major oil-state production cut negotiations. OPEC Petroleum Cartel and its alliance’s negotiating partners failed to reach an agreement on the new contract. Saudi Arabia is now trying to increase its oil production.

Price Plummets in the Energy Industry

Because of this, the historic price decline in the US energy industry began. Prices have fallen over the years, according to papers from large companies such as Western Petroleum, Schlumberger, and Halliburton. Chevron and Exxon Mobil representing Dow Jones, fell 12.2% and 15.4%, correspondingly. ConocoPhillips decreased by nearly 25%.

Commercial bank commodity expert Carsten Fritsch talks about “Black Monday in the oil sector.” Saudi Arabia launched a new price battle by announcing higher production and lower prices making great impact on stock changes all over the U.S. and even the best dividend stocks Canada. The oil market was endangered by a large oversupply in the second quarter, and the demand, especially from the Covid 19 epidemic, could still be seriously affected in the future.

Bank stocks likewise encountered above-average loss. In the Dow Jones Industrial Average, JPMorgan decreased by 13.7% and Goldman Sachs by 10.4%. Also, stock market players testified to the financial market turmoil impacting the U.S. financial market. Meanwhile, UBS analyst Saul Martinez pointed out that the U.S. financial industry is offering steep loans to oil industry risks.

Investors Are Relying On Security

China’s economic data in connection with the Covid-19 virus demonstrate economic results. In the country where the outbreak occurred, the new coronavirus paralyzed public life for many weeks compared to the same month when exports in January and February plummeted a year ago. There are rumors that the U.S. government is working on aid plans for the US economy to alleviate the economic impact.

Setting a trend in the U.S. bond market, 10-year government bonds raised overall percentage points with a yield of 0.57%. Therefore, bond yields, considered the most important bonds in the world, have halved since mid-February.

The euro gave up some profits in the US trade process following the closing of the US stock market. Previously, the regular currency rose to the highest level of $ 1.15 since the start of last year.

Sources of Financing For Your Business

There are moments in our lives (or in the life of business) where extra funds are needed to make both ends meet. Traditional loaning institutions such as banks are very strict that there’s a small chance of being approved especially if you lack the documents to prove your income.

When The Bank Turns You Down…

Banks and credit unions are usually the main sources of funding. This could be in the form of business loans, personal loans and other types of loans. This could also be in the form of an overdraft and lines of credit. Below are other sources to consider apart from banks and credit unions.

  • Before looking for funding sources outside, it would be nice to look for funding sources within your circle of family and friends. If a family member or a friend decides to lend you the funds you need, make sure that everything is placed in writing to avoid possible conflicts in the future.
  • Peer-to-peer loans are another source of funding. This is consistent with those who need the money and those who have the money to invest. Loaned funds must be paid with interest rates for a certain period of time. Interest rates can vary depending on the level of the risk of the borrower.
  • A factoring company or debtor financing is also another way to get funding. Factoring refers to the sale of invoices or bonds to a third-party financial company or, in this case, to a factoring company. In this way, a company can get the necessary cash without waiting for payment from customers. Customer payments are credited directly to the factoring company. Fees associated with this service vary by company. Before deciding on a factory company and entering into a contract, it is important to compare the costs involved.
  • Invoice financing is somehow similar to the factoring concept. The difference is that customer payments are paid directly to the business, not to the financer. In this case, the customer is not involved and does not know the agreement between the business owner and the finance firm.
  • Retailers and suppliers can provide some kind of store credit. Some retailers provide an in house credit line but other retailers can also pass a store card through a financial company. Despite this, the interest rates on store cards are high, but some retailers offer free interest periods that any business can take advantage of.
  • Pre-settlement loans. if you are a business and facing litigation due to personal injury, you have access to this type of loan. While this loan is not really a loan by its definition, it’s actually a cash advance from the court case settlement. This means funding is drawn against the expected amount you get from a pending case. This is also known as car accident loans, lawsuit loans, and litigation loans.

If the banks have turned you down, you have options to consider, you just have to know where to look. Talk to a financial advisor regarding your circumstance to provide you with alternatives that may suit your case.

 

Financial Literacy And How Technology Aids To It

In an industry where everything is fastly becoming, and every aspect moves as quick as a snap, it becomes very important for everyone especially the Millenials, to know how things work and how to adapt on these things to make their time more efficient and relevant.

Acquiring Financial Literacy The Easy Way

One of the many things to consider and have today is financial literacy, this is a very essential part of knowledge that makes a person wiser on financial values, industry, and how to go about in saving and future investments. There was a time when people who have this are those that have finished studies already and are getting into the more “adult” part of life, but today, even a 6th grader should acquire at least the basics of the financial aspect.

In making this possible and working, technology and how it works in our everyday lives plays a huge role. Since technology can cater to everyone, and almost everybody has access to it, it is very wise to use this in our advantage in teaching ourselves regarding financial literacy like topics under bad credit business loans by FORA Financial.

With technology comes the birth of applications that cater to online banking and financing making this strenuous process easier with visual guidelines that assist beginners on how to do certain things, which can be very confusing for first-timers who will be doing it personally on physical banks. Also, e-books about finance already exist, and some are even free so getting basic knowledge and financial techniques become easier than ever.

Lastly, applications that guide and help you to do the simple saving is up on platforms, reminding you to save, teaching you how to make saving easy, and making sure that you have a long-term goal for the money you are saving up.

What To Do Following Rejected Personal Loan Application

Are you feeling hopeless because your lender says you are not qualified for a personal loan? If you are going to stop trying when you are refused for a personal loan, don’t give up. While it may appear that all hope is lost, the truth is that there are other loan companies willing to offer you a loan.

Listed below are essential steps to follow if rejected for a traditional personal loan.

Find out the reasons why you are declined of a loan

When a lender rejects your loan application, know that the Fair Credit Reporting Act requires that the lending company inform the borrower of the reasons for the rejection through snail mail or email. The correspondence should explain the reasons why you ended up declined. Reasons for refusal may include the following:

• credit rating doesn’t match the lender’s requirements.

• credit track record is limited – Should you have lower than 3 years of credit history, it can be tough for several loan companies to give you a financial loan.

• too high debt-to-income ratio – When a good portion of your cash flow is linked with having to pay other loan products, your application to borrow money could be refused.

• late payments – If another lender reports you of late payments, lending companies may unlikely offer you a loan.

Whatever the reason you are denied a loan, the data you get could be among your best resources. You could start dealing with them prior to obtaining your future personal loan. This allows you to strengthen your weak points such as your credit history or debt-income ratio.

Subscribe to credit tracking programs

When a loan company provides a certain reason for the loan rejection, it is strongly advised to ensure there are no other problems with your credit rating or history of credit that may become worse when you are applying for a loan again. A credit monitoring program can assist you on this. They are going to browse through your credit track record from the point of view of the lender. They are going to clarify what you need to do to improve and when you can apply for the loan again.

Develop a plan

Once you know what issues you need to tackle, create a plan to determine what you need to do and how to do it. There is no precise way to do this because your plan will depend on the issues you need to address and your overall financial situation.

Knowing the condition you need to fix, plan on the actions you need make, when to do it and how to implement it. There isn’t any conclusive approach to get this done as your plan is determined by the condition you have to fix along with your general financial circumstances.

Have patience

With respect to the credit concerns you are facing, it may take some considerable time to fix everything that’s off on your credit standing. So you ought not to make unrealistic targets and also have high anticipations as repairing credit is not a quick fix scheme.

Give yourself sufficient time to develop a very good credit file, monitor your credit rating on a regular basis to find out how your steps affect your rating.

Look for other alternative lending institutions

As soon as you reach the stage where you are feeling comfortable about applying for a loan again, look around for other personal loan offers to determine your chances of getting an approval. Assess the fees, discount rates, as well as other charges every single lender presents. The majority of loan companies will let you have a look at their fees, rates and soft assessment whether you qualify.

Bottom line

If you follow the steps above, you will improve your chances of getting approved for any personal loan, from quick cash loans to long-term loans. You’ll also increase your options of getting approved for other credit at reasonable rates, which can save you money on interest.

You will get to improve your credit standing and qualify for the next loan if you follow the tips outlined above. So if you were denied a loan today, it’s not really the end of the world. There is hope and the information you get is your tool to help you improve.

Financial Technology Loan Options For Small Businesses

Technology is the biggest trend influencing every industry today. In the world of financing, financial technology or fintech is among the biggest evidence of this generation’s technological revolution. Financial technology is beginning to revolutionize the financial industry, the same as the impact of the Internet in almost every industry. Need Money Now is just among the Financial Technology made available to small businesses.

What is FinTech?

FinTech (Financial technology) generally refers to any business that uses contemporary software and technological know-how to apply its groundbreaking work to financial services. Contrary to general knowledge, financial technology has been in development for 65 years, leading to the continued success of the industry in financial technology. Following the establishment of credit cards in the 50s, the industry began to hold a genuine part in the financial industry, and since then, the advancement of the fintech industry has improved rather quickly.

In 2008, although financial technology played an important part in our society, the financial crisis at that time was hugely attributed to the vast and intense expansion of the industry. Since the financial crisis, a large number of Americans have become angry with the banking system, creating doubt for banks in just about any country. Distrust on banks has eventually become worse when banks stopped lending following the recession. As a result, many people in the business arena and in practically all sectors were considering alternative and private lending institutions.

As the economy has at last rebounded, consumers are however cautious about binding financial institutions. Today, the financial technology industry is more trusted as a reliable source of funds and other services due to the urgent need to seek technology alternatives.

Today, more advances in the financial technology have taken place with the introduction of bitcoins or what has been known as cryptocurrency.

Financial Technology Loan Options

FinTech Mid Prime Loans

The most recognizable form of FinTech form of financing for small businesses is medium loans or mid prime lending. The price offered by FinTech’s medium-term loans is viable with a classic bank and SBA loans, however with less of the hassle that’s commonly linked with each kind of financial loan. Online FinTech lenders do not need to contact banks and provide a wide range of personal and business financial documents, but they can easily qualify applications in a matter of minutes and can provide funding very quickly (within a few days after an application had been approved). All this can be achieved with the least amount of documents that are traditionally required by the banks.

Invoice Factoring via FinTech

Financial technology invoice financing can be described as a means for small businesses to work with their 30-90 days unpaid invoices to get funding. The factoring company forwards a small amount of the invoice to a certain percentage of the invoice value less the fees after which forwards the final figure to the borrower after the invoice is settled.

Cash Advance Via FinTech

Cash advances through Fintech are not loans. However, it is the future earnings of a company sold to FinTech lenders in return for upfront funding. These future earnings are sold at a discounted price to the funder. Lenders associated with Fintech evaluate the cash flow of a company by taking a look at bank statements which includes credit card statements. This is for them to figure out the total deposits as well as the consistency of deposits.

After the FinTech funding company determines the maximum amount that a small business can easily manage, they are going to compute the amount of money the business could get depending on the repayment structure in 4 to 21 months. Following the financing of a small business, FinTech’s prepaid cash lender will receive a repayment every business day but some will collect weekly by means of ACH through the bank account of the small business or the percentage of daily credit card processing trades accumulated every day.

SBA Loans

SBA loans are not generally linked to financial technology, but as a result advancements in many sectors of our society, specifically the financing industry, lenders can now qualify applications for SBA loans in just minutes and fund SBA loans at the quickest possible time, approximately 7-10 business days.

Technology has streamlined the SBA loan processes which allowed business owners to obtain bank financing within a time frame in line with competitive alternative lenders and actual investors. There are many forms of Fintech SBA loans. This includes lines of credit and term loans. Fintech SBA loans can be used as working capital, purchase of real estate investments, debt consolidation, business expansion, and much more.