Finance Debt – Biofera http://biofera.org/ Thu, 13 Jan 2022 03:31:49 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://biofera.org/wp-content/uploads/2021/05/biofera-icon-150x150.png Finance Debt – Biofera http://biofera.org/ 32 32 BlueLinx Announces First Quarter 2021 Results https://biofera.org/bluelinx-announces-first-quarter-2021-results/ https://biofera.org/bluelinx-announces-first-quarter-2021-results/#respond Fri, 07 May 2021 16:10:16 +0000 https://biofera.org/?p=207

Net Sales Exceed $1 billion, Highest Q1 Since 2006
Record Net Income of $62 million and Adjusted EBITDA of $107 million
More than $100 million decrease in Total Outstanding Bank Debt year over year

MARIETTA, Ga., May 04, 2021 (GLOBE NEWSWIRE) — BlueLinx Holdings Inc. (NYSE:BXC), a leading U.S. wholesale distributor of building products, today reported financial results for the three months ended April 3, 2021.

First Quarter 2021 Results
(all comparisons versus the prior-year period unless otherwise noted)

  • Net sales increased $363 million, or 55%, to $1.0 billion
  • Gross margin increased 350 basis points to 17.6%   
  • Net income of $62 million, an increase of $63 million
  • Adjusted EBITDA of $107 million, improved by $87 million
  • Excess availability and cash on hand increased to $238 million
  • Term Loan fully repaid

“The BlueLinx team has continued to perform at a high level during a period of continued strength in residential construction and home renovation, leading to significant year-over-year growth in revenue and profitability,” said Mitch Lewis, President and CEO. “We generated more than $1 billion in revenue and $107 million in Adjusted EBITDA during the first quarter, providing the Company a strong platform to drive continued growth and efficiency across our business.”

“The ongoing supply-demand imbalances for many of our products contributed to further price escalations during the first quarter, a trend that is continuing in the second quarter,” stated Lewis. “We are a beneficiary of these price escalations, which are a key near-term driver of improved margin realization and profitability, while remaining focused on preemptive actions to help mitigate the impact of downside commodity price risk.”

“Our business transformation continued during the first quarter, supported by a significant increase in gross profit across both product categories,” stated Kelly Janzen, Chief Financial Officer. “Since the end of the first quarter 2020, we have reduced our total outstanding bank debt by over $100 million. Late in the quarter, we voluntarily repaid the approximately $16 million of remaining outstanding principal under our term loan, an action which further simplifies our capital structure and reduces cash interest expense. We ended the first quarter with excess availability of $238 million under our revolving credit facility, an increase of $141 million versus the prior-year period, and a net leverage ratio of 2.5x, inclusive of finance lease obligations.”

“Given the significant increase in net sales, accounts receivable grew by more than $125 million in the first quarter, when compared to the fourth quarter 2020,” continued Janzen. “As we look to the second half of the current year, we anticipate that the conversion of our accounts receivable will result in significant growth in cash flow.”

Financial Performance

The Company reported net sales of $1.0 billion in the first quarter, compared to $662 million in the prior year period, and gross profit of $180 million, compared to $93 million in the prior year period. First quarter net sales for specialty products, which includes products such as engineered wood, cedar, moulding, siding, metal products and insulation, accounted for $563 million of net sales in the period, up from $421 million in the prior year period. The $142 million improvement year over year was primarily a result of price escalations. The specialty gross margin was 19.3% which increased 290 basis points compared to the first quarter of 2020. Net sales of structural products, which includes products such as lumber, plywood, oriented strand board, rebar, and remesh, continued to benefit from wood-based commodity price inflation and were $462 million, an increase of $222 million compared to last year. The impact of wood-based commodity price inflation is estimated to approximate the full amount of the increase in net sales. Structural product gross margin increased by 540 basis points year over year to 15.5% for the first quarter.

The Company reported net income of $62 million in the first quarter, or $6.28 per diluted share, compared to a net loss of $0.8 million, or $(0.08) per diluted share, in the prior-year period. First quarter 2021 net income was reduced by approximately $5 million from non-recurring items, including a $6 million write-off of debt issuance costs, that was included in interest expense, associated with the term loan payoff, offset by a $1 million gain on sales of property, and first quarter 2020 net income was reduced by approximately $4 million of integration, real estate financing, and restructuring expenses. Excluding the impact of these non-recurring items, net income increased by $64 million, or $6.44 per diluted share, on a year-over-year basis.

Adjusted EBITDA, a non-GAAP measure, was $107 million in the first quarter, compared to $20 million in the prior-year period. Cash used in operating activities for the first quarter was $25 million, an improvement of $35 million when compared to the prior year period and was primarily a result of increased net income offset by an increase in accounts receivable of $125 million in the first quarter, due to increased net sales.

Business Update

The Company remains committed to its strategic priorities that include sales growth, margin expansion, strategic product emphasis and continuous improvements in operational efficiency.

  • Sales growth and margin expansion. BlueLinx is committed to driving sustained sales growth and margin expansion through increased penetration of the national dealer, home center and local markets. The Company has continued to invest in resources and analytical tools to support its disciplined pricing strategies and has expanded sales support for these key customer segments.
  • Value-added product line expansion. BlueLinx is focused on delivering specialized, higher-value products, in which two-step distribution plays a key role. The Company is committed to further building its relationships with marquee brands through its valued supplier partners, while investing in products with low disintermediation risk.
  • Operational efficiencies. BlueLinx emphasizes continuous improvement in its operational processes. Productivity improvements through project initiatives and investments in fleet, facility optimization, and technologies remain a primary focus for the Company. Overall selling, general and administrative expense remained relatively consistent compared to the prior year period, increasing approximately $1 million due to higher variable incentive compensation and sales commissions of approximately $4 million. Offsetting the increase in variable compensation was a reduction in fixed overhead costs, primarily from reduced labor expense. Working capital management improvements continued during the first quarter, with Days Sales of Inventory of 39 days, an improvement of 19 days, when compared to the prior year period.

Market Outlook

While domestic new residential construction and home renovation markets remain robust, higher raw material costs and adverse weather conditions impacted construction activity during the first quarter, as key North American mills continue to have supply constraints.

  • Single-family housing starts (SFHS), a key economic indicator with a high historical correlation to the Company’s business, remain relatively strong, although SFHS on a trailing twelve month basis as of March 2021 are still approximately 40% below the prior cyclical peak achieved in 2005.    
  • Total U.S. monthly supply of homes for sale increased from year-end levels but remain constrained, with housing inventory at the end of the first quarter at approximately 38% below the 20-year average.
  • According to the National Association of Home Builders (NAHB), the April 2021 Builders’ Confidence Index increased slightly to 83 from 82 in March. Increases in materials costs and delivery times have impacted short-term builder sentiment.
  • While existing home sales were down 10% due to limited housing inventory, remodeling expenditures continued to increase on a quarter-over-quarter basis. According to the NAHB, the Remodeling Market Index (RMI) increased 9% to 86 for the first quarter 2021 index as compared to 79 for fourth quarter 2020.

First Quarter 2021 Conference Call Details

BlueLinx will host a conference call on May 5, 2021, at 10:00 a.m. Eastern Time, accompanied by a supporting slide presentation.   Participants can access the live conference call via telephone at (877) 873-5864, using Conference ID # 7956909. Investors will also be able to access an archived audio recording of the conference call for one week following the live call by dialing (404) 537-3406, Conference ID # 7956909.

Investors can also listen to the live audio of the conference call and view the accompanying slide presentation by visiting the BlueLinx website, www.BlueLinxCo.com, and selecting the conference link on the Investor Relations page. After the conference call has concluded, an archived recording will be available on the BlueLinx website.

Use of Non-GAAP Measures

The Company reports its financial results in accordance with GAAP. The Company also believes that presentation of certain non-GAAP measures may be useful to investors and may provide a more complete understanding of the factors and trends affecting the business than using reported GAAP results alone. Any non-GAAP measures used herein are reconciled to their most directly comparable GAAP measures herein or in the financial tables accompanying this news release. The Company cautions that non-GAAP measures should be considered in addition to, but not as a substitute for, the Company’s reported GAAP results.

Adjusted EBITDA
BlueLinx defines Adjusted EBITDA as an amount equal to net income plus interest expense and all interest expense related items, income taxes, depreciation and amortization, and further adjusted for certain non-cash items and other special items, including compensation expense from share-based compensation, one-time charges associated with the legal and professional fees and integration costs related to the Cedar Creek acquisition, and gains on sales of properties including amortization of deferred gains.

The Company presents Adjusted EBITDA because it is a primary measure used by management to evaluate operating performance. Management believes this metric helps to enhance investors’ overall understanding of the financial performance and cash flows of the business. Management also believes Adjusted EBITDA is helpful in highlighting operating trends. Adjusted EBITDA is frequently used by securities analysts, investors, and other interested parties in their evaluation of companies, many of which present an Adjusted EBITDA measure when reporting their results. However, Adjusted EBITDA is not a presentation made in accordance with GAAP and is not intended to present a superior measure of our financial condition from those measures determined under GAAP. Adjusted EBITDA, as used herein, is not necessarily comparable to other similarly titled captions of other companies due to differences in methods of calculation. This non-GAAP measure is reconciled in the “Reconciliation of Non-GAAP Measurements” table later in this release.

Net Debt and Net Leverage Ratio
BlueLinx determines our net debt based on total short- and long-term debt, including our outstanding balances under the Company’s term loan and revolving credit facility and the total amount of obligations under its financing leases, less cash and cash equivalents.

After determining net debt, BlueLinx determines its overall net leverage ratio by dividing net debt by trailing twelve-month Adjusted EBITDA. Management believes that this ratio is useful to investors because it is an indicator of the Company’s ability to meet its future financial obligations. In addition, the ratio is a measure that is frequently used by investors and creditors. Net debt and overall net leverage ratio are not presentations made in accordance with GAAP, and are not intended to present a superior measure of the Company’s financial condition from measures and ratios determined under GAAP. In addition, the Company’s net debt and overall net leverage ratio, as used herein, are not necessarily comparable to other similarly titled captions of other companies due to differences in methods of calculation. This non-GAAP measure is reconciled in the “Reconciliation of Non-GAAP Measurements” table later in this release.

ABOUT BLUELINX HOLDINGS

BlueLinx (NYSE: BXC) is a leading U.S. wholesale distributor of residential and commercial building products with both branded and private-label SKUs across product categories such as lumber, panels, engineered wood, siding, millwork, metal building products, and other construction materials. With a strong market position, broad geographic coverage footprint servicing 40 states, and the strength of a locally focused sales force, we distribute our comprehensive range of products to over 15,000 national, regional, and local dealers, specialty distributors, national home centers, and manufactured housing customers. BlueLinx is able to provide a wide range of value added services and solutions to our customers and suppliers. We are headquartered in Georgia, with executive offices located at 1950 Spectrum Circle, Marietta, Georgia, and we operate our distribution business through a broad network of distribution centers. BlueLinx encourages investors to visit its website, www.BlueLinxCo.com, which is updated regularly with financial and other important information about BlueLinx.

CONTACT

Noel Ryan
(720) 778-2415
BXC@val-adv.com

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. Forward-looking statements include, without limitation, any statement that predicts, forecasts, indicates or implies future results, performance, liquidity levels or achievements, and may contain the words “believe,” “anticipate,” “expect,” “estimate,” “intend,” “project,” “plan,” “will be,” “will likely continue,” “will likely result” or words or phrases of similar meaning. The forward-looking statements in this press release include statements about our strategic imperatives and priorities, and our focus thereon; our ability to capitalize on our geographic footprint to grow our national dealer and home center customer markets; our local entrepreneurial initiatives; our focus on reducing non-essential costs and our ability to, and the potential success of, investing in resources to support strategic sales growth; our market and business outlook, including the outlook for the residential housing construction markets, and trends in wood-based commodity prices; our efforts to manage commodity price volatility and the potential success thereof; and the COVID-19 pandemic and our response thereto, including statements about the potential trajectory of the pandemic and its potential effects.

Forward-looking statements in this press release are based on estimates and assumptions made by our management that, although believed by us to be reasonable, are inherently uncertain. Forward-looking statements involve risks and uncertainties that may cause our business, strategy, or actual results to differ materially from the forward-looking statements. These risks and uncertainties include those discussed in greater detail in our filings with the Securities and Exchange Commission. We operate in a changing environment in which new risks can emerge from time to time. It is not possible for management to predict all of these risks, nor can it assess the extent to which any factor, or a combination of factors, may cause our business, strategy, or actual results to differ materially from those contained in forward-looking statements. Factors that may cause these differences include, among other things: pricing and product cost variability; volumes of product sold; changes in the prices, supply, and/or demand for products that we distribute; the cyclical nature of the industry in which we operate; housing market conditions; the COVID-19 pandemic and other contagious illness outbreaks and their potential effects on our industry; effective inventory management relative to our sales volume or the prices of the products we produce; information technology security risks and business interruption risks; increases in petroleum prices; consolidation among competitors, suppliers, and customers; disintermediation risk; loss of products or key suppliers and manufacturers; our dependence on international suppliers and manufacturers for certain products; business disruptions; exposure to product liability and other claims and legal proceedings related to our business and the products we distribute; natural disasters, catastrophes, fire, or other unexpected events; successful implementation of our strategy; wage increases or work stoppages by our union employees; costs imposed by federal, state, local, and other regulations; compliance costs associated with federal, state, and local environmental protection laws; our level of indebtedness and our ability to incur additional debt to fund future needs; the risk that our cash flows and capital resources may be insufficient to service our existing or future indebtedness; the covenants of the instruments governing our indebtedness limiting the discretion of our management in operating our business; the fact that we lease many of our distribution centers, and we would still be obligated under these leases even if we close a leased distribution center; changes in our product mix; shareholder activism; potential acquisitions and the integration and completion of such acquisitions; the possibility that the value of our deferred tax assets could become impaired; changes in our expected annual effective tax rate could be volatile; the costs and liabilities related to our participation in multi-employer pension plans could increase; the possibility that we could be the subject of securities class action litigation due to stock price volatility; and changes in, or interpretation of, accounting principles.

Given these risks and uncertainties, we caution you not to place undue reliance on forward-looking statements. We expressly disclaim any obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law.

 
BLUELINX HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
 
  Three Months Ended
  April 3, 2021   March 28, 2020
   
  (In thousands, except per share data)
   
Net sales $ 1,025,469     $ 662,070  
Cost of sales 845,077     568,861  
Gross profit 180,392     93,209  
Gross margin 17.6 %   14.1 %
Operating expenses:      
Selling, general, and administrative 75,560     74,588  
Depreciation and amortization 7,465     7,635  
Amortization of deferred gains on real estate (984 )   (984 )
Gains from sales of property (1,287 )   (525 )
Other operating expenses 112     4,165  
Total operating expenses 80,866     84,879  
Operating income 99,526     8,330  
Non-operating expenses (income):      
Interest expense, net 16,234     14,380  
Other income, net (314 )   (237 )
Income (loss) before provision for (benefit from) income taxes 83,606     (5,813 )
Provision for (benefit from) income taxes 21,746     (5,026 )
Net income (loss) $ 61,860     $ (787 )
       
Basic income (loss) per share $ 6.53     $ (0.08 )
Diluted income (loss) per share $ 6.28     $ (0.08 )
 
BLUELINX HOLDINGS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
 
  April 3, 2021   January 2, 2021
   
  (In thousands, except share data)
ASSETS
Current assets:      
Cash $ 179     $ 82  
Receivables, less allowances of $5,573 and $4,123, respectively 418,815     293,643  
Inventories, net 376,423     342,108  
Other current assets 33,029     32,581  
Total current assets 828,446     668,414  
Property and equipment, at cost 310,101     299,935  
Accumulated depreciation (125,769 )   (121,223 )
Property and equipment, net 184,332     178,712  
Operating lease right-of-use assets 48,969     51,142  
Goodwill 47,772     47,772  
Intangible assets, net 17,067     18,889  
Deferred tax assets 66,795     62,899  
Other non-current assets 19,099     20,302  
Total assets $ 1,212,480     $ 1,048,130  
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:      
Accounts payable $ 218,975     $ 165,163  
Accrued compensation 10,798     24,751  
Taxes payable 33,646     7,847  
Current maturities of long-term debt, net of debt issuance costs of $0 and $74, respectively     1,171  
Finance lease liabilities – short-term 7,459     5,675  
Operating lease liabilities – short-term 5,123     6,076  
Real estate deferred gains – short-term 4,040     4,040  
Other current liabilities 11,747     14,309  
Total current liabilities 291,788     229,032  
Non-current liabilities:      
Long-term debt, net of debt issuance costs of $2,615 and $8,936, respectively 355,899     321,270  
Finance lease liabilities – long-term 273,815     267,443  
Operating lease liabilities – long-term 44,021     44,965  
Real estate deferred gains – long-term 77,059     78,009  
Pension benefit obligation 21,730     22,684  
Other non-current liabilities 25,655     25,635  
Total liabilities 1,089,967     989,038  
Commitments and contingencies      
STOCKHOLDERS’ EQUITY:
Common Stock, $0.01 par value, 20,000,000 shares authorized,
9,468,042 and 9,462,774 outstanding on April 3, 2021 and January 2, 2021, respectively
95     95  
Additional paid-in capital 268,006     266,695  
Accumulated other comprehensive loss (35,742 )   (35,992 )
Accumulated stockholders’ deficit (109,846 )   (171,706 )
Total stockholders’ equity 122,513     59,092  
Total liabilities and stockholders’ equity $ 1,212,480     $ 1,048,130  
 
BLUELINX HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
 
  Three Months Ended
  April 3, 2021   March 28, 2020
   
  (In thousands)
Cash flows from operating activities:      
Net income (loss) $ 61,860     $ (787 )
Adjustments to reconcile net income (loss) to cash used in operations:      
Provision for (benefit from) income taxes 21,746     (5,026 )
Depreciation and amortization 7,465     7,635  
Amortization of debt issuance costs 603     956  
Adjustments to debt issuance costs associated with term loan 5,791      
Gains from sales of property (1,287 )   (525 )
Amortization of deferred gains from real estate (984 )   (984 )
Share-based compensation 1,410     1,004  
Changes in operating assets and liabilities:      
Accounts receivable (125,172 )   (55,068 )
Inventories (34,315 )   (32,828 )
Accounts payable 53,812     30,050  
Prepaid and other current assets (1,246 )   (3,006 )
Other assets and liabilities (14,291 )   (608 )
Net cash used in operating activities (24,608 )   (59,187 )
       
Cash flows from investing activities:      
Proceeds from sale of assets 1,810     44  
Property and equipment investments (1,122 )   (1,245 )
Net cash provided by (used in) investing activities 688     (1,201 )
       
Cash flows from financing activities:      
Borrowings on revolving credit facilities 262,210     204,196  
Repayments on revolving credit facilities (191,943 )   (149,079 )
Repayments on term loan (43,204 )   (69,238 )
Proceeds from real estate financing transactions     78,329  
Debt financing costs (861 )   (336 )
Repurchase of shares to satisfy employee tax withholdings (56 )   (7 )
Principal payments on finance lease liabilities (2,129 )   (2,562 )
Net cash provided by financing activities 24,017     61,303  
       
Net change in cash 97     915  
Cash at beginning of period 82     11,643  
Cash at end of period $ 179     $ 12,558  
                     
BLUELINX HOLDINGS INC.
RECONCILIATION OF NON-GAAP MEASUREMENTS
(Unaudited)
 
The following schedule reconciles net income (loss) to Adjusted EBITDA:
 
        Three Months Ended
        April 3, 2021   March 28, 2020
         
        (In thousands)
Net income (loss) $ 61,860     $ (787 )
Adjustments:      
Depreciation and amortization 7,465     7,635  
Interest expense, net 10,443     14,380  
Term loan debt issuance costs(1) 5,791      
Provision for (benefit from) income taxes 21,746     (5,026 )
Share-based compensation expense 1,410     1,004  
Amortization of deferred gains on real estate (984 )   (984 )
Gain from sales of property(1) (1,287 )   (525 )
Real estate financing costs(1)     1,793  
Merger and acquisition costs(1)(2)     1,070  
Restructuring and other(1)(3) 113     1,309  
Adjusted EBITDA $ 106,557     $ 19,869  
     
(1)   Reflects non-recurring items of approximately $5 million in non-beneficial items to the current quarter and approximately $4 million in non-beneficial items to the same quarterly period of the prior year.
     
(2)   Reflects primarily legal, professional, technology and other integration costs related to the Cedar Creek acquisition.
     
(3)   Reflects costs related to our restructuring efforts, such as severance, net of other one-time non-operating items.
                   
The following schedule presents Net Debt and the Net Leverage Ratio for the Trailing Twelve Months:
       
      Three Months Ended
      April 3, 2021   March 28, 2020
      (In thousands)
Current maturities of long term debt, gross of debt issuance costs $     $ 2,250  
Finance lease liabilities – short term 7,459     5,924  
Long term debt, gross of debt issuance costs 358,514     456,798  
Finance lease liabilities – long term(1) 273,815     269,192  
Total long-term debt 639,788     734,164  
Less: available cash 179     12,558  
Net Debt 639,609     721,606  
Trailing twelve month Adjusted EBITDA $ 257,088     $ 74,698  
Net Leverage Ratio 2.5x   9.7x
           
(1)   Finance lease liabilities – long term include the combination of finance lease liabilities – long term and real-estate financing obligations in those periods when real estate financing obligations were presented.

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Debt Consolidation vs. Personal Loan: What Is the Difference? https://biofera.org/payday-loan-consolidation-company-consolidate-cash-advance-loans-today/ https://biofera.org/payday-loan-consolidation-company-consolidate-cash-advance-loans-today/#respond Fri, 07 May 2021 16:06:59 +0000 https://biofera.org/?p=236

Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as “Credible.”

If you have high-interest debt, consolidating that debt might help you save money and even pay off your balances faster. One way to do this is through a debt consolidation loan — https://www.paydaychampion.com/payday-loan-consolidation/ a type of personal loan that lets you combine your debts into one new loan with a single payment.

There are also other options available for debt consolidation.

Here’s what you should know about personal loans vs. debt consolidation loans:

Is a debt consolidation loan the same as a personal loan?

Yes — a debt consolidation loan is simply a type of personal loan. Here’s how these loans work:

Personal loan

A personal loan is a kind of installment loan that can be used for almost any personal expense, such as home renovations, a dream vacation, or debt consolidation.

These loans are available from online lenders, banks, and credit unions and generally range from a few hundred dollars up to $100,000 or more, depending on the lender.

Keep in mind: Most personal loans are unsecured, meaning you don’t have to worry about collateral. Instead, the lender will review your credit, income, debt-to-income ratio, and other factors to determine your creditworthiness.

Learn More: How Do Personal Loans Work?

Debt consolidation loan

A debt consolidation loan is a type of personal loan that lets combine existing debts into one loan. Depending on your credit, you might also qualify for a lower interest rate than you’ve been paying, which could help you save money over the life of your loan.

In some cases, you’ll need to specify a loan purpose when you apply for a personal loan. While many lenders will let you use a personal loan for debt consolidation, others might have restrictions on how you can use your loan.

Tip: Some lenders offer lower interest rates on debt consolidation loans compared to personal loans for other purchases.

It’s a good idea to shop around and compare as many lenders as possible to see what rates you might qualify for.

Check Out: Credit Card Consolidation Loans

16 personal loans to consider for debt consolidation

Here are Credible’s partner lenders that offer personal loans for debt consolidation:

Lender Fixed rates Loan amounts Min. credit score Loan terms (years)
View details 9.95% – 35.99% APR $2,000 to $35,000** 550 2, 3, 4, 5*
  • Rates: 9.95% – 35.99% APR
  • Loan terms (years): 2, 3, 4, 5*
  • Loan amount: $2,000 to $35,000**
  • Fees: Origination fee
  • Discounts: Autopay
  • Eligibility: Available in all states except CO, IA, HI, VT, NV NY, WV
  • Min. income: $1,200 monthly
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. credit score: 550
  • Time to get funds: As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)
  • Loan uses: Debt consolidation, emergency expense, life event, home improvement, and other purposes

Avant personal loans review

*If approved, the actual loan terms that a customer qualifies for may vary based on credit determination, state law, and other factors. Minimum loan amounts vary by state.

**Example: A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33.

axos

View details

6.49% – 29.99% APR $5,000 to $35,000 740 1, 2, 3, 4, 5
  • Rates: 6.49% – 29.99% APR
  • Loan terms (years): 1, 2, 3, 4, 5
  • Loan amount: $5,000 to $35,000
  • Fees: No prepayment penalty
  • Discounts: None
  • Eligibility: Available in all 50 states
  • Min. income: Does not disclose
  • Customer service: Phone
  • Soft credit check: Yes
  • Min. credit score: 740
  • Time to get funds: Next business day
  • Loan uses: Debt consolidation, home improvement, and other purposes

Axos Bank personal loans review

best egg

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5.99% – 29.99% APR $5,000 to $35,000 600 3, 5
  • Rates: 5.99% – 29.99% APR
  • Loan terms (years): 3, 5
  • Loan amount: $5,000 – $50,000
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all states except DC, IA, VT, and WV
  • Min. income: None
  • Customer service: Phone
  • Soft credit check: Yes
  • Min. credit score: 600
  • Time to get funds: As soon as 1 – 3 business days after successful verification
  • Loan uses: Credit card refinancing, debt consolidation, home improvement, and other purposes

Best Egg personal loans review

discover

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6.99% – 24.99% APR $2,500 to $35,000 660 3, 4, 5, 6, 7
  • Rates: 6.99% – 24.99% APR
  • Loan terms (years): 3, 4, 5, 6, 7
  • Loan amount: $2,500 – $35,000
  • Fees: Late fee
  • Discounts: None
  • Eligibility: Available in all 50 states
  • Customer service: Phone
  • Soft credit check: Yes
  • Min. credit score: 660
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  • Loan uses: Auto repair, credit card refinancing, debt consolidation, home remodel or repair, major purchase, medical expenses, taxes, vacation, and wedding

Discover personal loans review

freedomplus

View details

7.99% – 29.99% APR $10,000 to $35,000 Not disclosed by lender 2, 3, 4, 5
  • Rates: 7.99% – 29.99% APR
  • Loan terms (years): 2, 3, 4, 5
  • Loan amount: $7,500 – $50,000
  • Fees: Origination fee
  • Discounts: Does not disclose
  • Eligibility: Available in all states except CO, CT, HI, KS, NH, NV, NY, ND, OR, VT, WV, WI, and WY
  • Min. income: None
  • Customer service: Phone
  • Soft credit check: Yes
  • Min. credit score: Does not disclose
  • Time to get funds: As soon as 2 business days
  • Loan uses: Debt consolidation, home improvement, wedding, travel, medical expenses, and other purposes

FreedomPlus personal loans review

lendingclub

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10.68% – 35.89% APR $1,000 to $40,000 600 3, 5
  • Rates: 10.68% – 35.89% APR
  • Loan terms (years): 3, 5
  • Loan amount: $1,000 to $40,000
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all 50 states
  • Min. income: None
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. credit score: 600
  • Time to get funds: Usually takes about 3 days
  • Loan uses: Debt consolidation, paying off credit cards

LendingClub personal loans review

Based on a majority of borrowers from LendingClub’s marketing partners who were issued loans between 1/1/19-12/13/19. The time it takes for your loan to be funded may vary.

lendingpoint

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15.49% – 35.99% APR $2,000 to $25,000 580 2, 3, 4
  • Rates: 15.49% – 35.99% APR
  • Loan terms (years): 2, 3, 4, 5
  • Loan amount: $2,000 to $25,000
  • Fees: Origination fee
  • Discounts: Autopay
  • Eligibility: Available in all states except NV and WV
  • Min. income: $20,000
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. credit score: 580
  • Time to get funds: As soon as the next business day
  • Loan uses: Home improvement, consolidate debt, credit card refinancing, relocate, make a large purchase, and other purposes

LendingPoint personal loans review

lightstream

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3.99% – 19.99% APR $5,000 to $100,000 660 2, 3, 4, 5, 6, 7
(up to 12 years for home improvement loans)
  • Rates: 3.99% – 19.99% APR
  • Loan terms (years): 2, 3, 4, 5, 6, 7 (up to 12 years for home improvement loans)
  • Loan amount: $5,000 to $100,000
  • Fees: None
  • Discounts: Autopay
  • Eligibility: Available in all states except RI and VT
  • Min. income: Does not disclose
  • Customer service: Phone, email
  • Soft credit check: No
  • Min. credit score: 660
  • Time to get funds: As soon as the same business day
  • Loan uses: Credit card refinancing, debt consolidation, home improvement, and other purposes

LightStream personal loans review

LightStream disclosure

marcus

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6.99% – 19.99% APR1 $3,500 to $40,0002 660

(TransUnion FICO®️ Score 9)

3, 4, 5, 6, 7
  • Rates: 6.99% – 19.99% APR1
  • Loan terms (years): 3, 4, 5, 6
  • Loan amount: $3,500 to $40,0002
  • Fees: None
  • Discounts: Autopay
  • Eligibility: Available in all 50 states
  • Min. income: Undisclosed
  • Customer service: Phone
  • Soft credit check: Yes
  • Min. credit score: 660

    (TransUnion FICO®️ Score 9)

  • Time to get funds: Many Marcus customers receive funds in as little as five days
  • Loan uses: Credit card refinancing, debt consolidation, home improvement, and other purposes

Marcus personal loans review

1Rate reduction of 0.25% when enrolled in autopay.

2You may be required to have some of your funds sent directly to pay off outstanding unsecured debt.

3After making 12 or more consecutive monthly payments, you can defer one payment as long as you have made all your prior payments in full and on time. Marcus will waive any interest incurred during the deferral and extend your loan by one month (you will pay interest during this extra month). Your payments resume as usual after your deferral. Advance notice is required. See loan agreement for details.

4Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. Rates will vary based on many factors, such as your creditworthiness (for example, credit score and credit history) and the length of your loan (for example, rates for 36 month loans are generally lower than rates for 72 month loans).Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms and conditions.

onemain financial

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18.00% – 35.99% APR $1,500 to $20,000 None 2, 3, 4, 5
  • Rates: 18.00% – 35.99% APR
  • Loan terms (years): 2, 3, 4, 5
  • Loan amount: $1,500 to $20,000
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Must have photo I.D. issued by U.S. federal, state or local government
  • Min. income: Does not disclose
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. credit score: None
  • Time to get funds: As soon as the same day, but usually requires a visit to a branch office

OneMain Financial personal loans review

payoff

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5.99% – 24.99% APR $5,000 to $40,000 640 2, 3, 4, 5
  • Rates: 5.99% – 24.99% APR
  • Loan terms (years): 2, 3, 4, 5
  • Loan amount: $5,000 to $40,000
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all states except MA, MS, NE, NV, and OH
  • Min. income: None
  • Customer service: Phone, email, chat
  • Soft credit check: Yes
  • Min. credit score: 640
  • Time to get funds: As soon as 2 – 5 business days after verification
  • Loan uses: Debt consolidation and credit card consolidation only

Payoff personal loans review

penfed

View details

5.99% – 17.99% APR $600 to $35,000
(depending on loan term)
670 1, 2, 3, 4, 5
  • Rates: 5.99% – 17.99% APR
  • Loan terms (years): 1, 2, 3, 4, 5
  • Loan amount: $600 to $35,000 (depending on loan term)
  • Fees: None
  • Discounts: None
  • Eligibility: Does not disclose
  • Min. income: Does not disclose
  • Customer service: Phone, email
  • Soft credit check: No
  • Min. credit score: 670
  • Time to get funds: 2 to 4 business days after verification
  • Loan uses: Debt consolidation, home improvement, transportation, medical, dental, life events

PenFed personal loans review

prosper

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6.95% – 35.99% APR $2,000 to $40,000 640 3, 5
  • Rates: 6.95% – 35.99% APR
  • Loan terms (years): 3, 5
  • Loan amount: $2,000 to $40,000
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all states except IA, ND, WV
  • Min. income: None
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. credit score: 640
  • Time to get funds: As soon as one business day
  • Loan uses: Debt consolidation, home improvement, vehicles, small business, new baby expenses, and other purposes

Prosper personal loans review

sofi

View details

5.99% – 18.83% APR $5,000 to $100,000 Does not disclose 2, 3, 4, 5, 6, 7
  • Rates: 5.99% – 18.83% APR
  • Loan terms (years): 2, 3, 4, 5, 6, 7
  • Loan amount: $5,000 to $100,000
  • Fees: None
  • Discounts: Autopay
  • Eligibility: Available in all states except MS
  • Min. income: Does not disclose
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. credit score: Does not disclose
  • Time to get funds: 3 business days
  • Loan uses: Solely for personal, family, or household uses

SoFi personal loans review

upstart

View details

5.94% – 35.97% APR $1,000 to $50,000 580 3, 5
  • Rates: 5.94% – 35.97% APR
  • Loan terms (years): 3, 5
  • Loan amount: $1,000 to $50,000 ($3,005 minimum in GA; $6,005 minimum in MA)
  • Fees: Origination fee
  • Discounts: Autopay
  • Eligibility: Available in all states except IA and WV
  • Min. income: Does not disclose
  • Customer service: Email
  • Soft credit check: Yes
  • Min. credit score: 580
  • Time to get funds: Within a day of clearing necessary verifications
  • Loan uses: Debt consolidation, credit card refinancing, home improvement, and other purposes

Upgrade personal loans review

upstart

View details

8.27% – 35.99% APR4 $1,000 to $50,0005 580 3 to 5 years4
  • Rates: 8.27% – 35.99% APR4
  • Loan terms (years): 3 to 5 years4
  • Loan amount: $1,000 to $50,0005
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all 50 states
  • Min. income: $12,000
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. credit score: 580
  • Time to get funds: As soon as 1 – 3 business days6
  • Loan uses: Payoff credit cards, consolidate debt, take a course or bootcamp, relocate, make a large purchase, and other purposes

Upstart personal loans review

4The full range of available rates varies by state. The average 3-year loan offered across all lenders using the Upstart platform will have an APR of 25.79% and 36 monthly payments of $37 per $1,000 borrowed. There is no down payment and no prepayment penalty. Average APR is calculated based on 3-year rates offered in the last 1 month. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.

5This offer is conditioned on final approval based on our consideration and verification of financial and non-financial information. Rate and loan amount are subject to change based upon information received in your full application. This offer may be accepted only by the person identified in this offer, who is old enough to legally enter into contract for the extension of credit, a US citizen or permanent resident, and a current resident of the US. Duplicate offers received are void. Closing your loan is contingent on your meeting our eligibility requirements, our verification of your information, and your agreement to the terms and conditions on the www.upstart.com website.

Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Loans are not available in West Virginia or Iowa. The minimum loan amount in MA is $7,000. The minimum loan amount in Ohio is $6,000. The minimum loan amount in NM is $5100. The minimum loan amount in GA is $3,100.

6​If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.

Compare rates from these lenders without affecting your credit score. 100% free!
Compare Now

All APRs reflect autopay and loyalty discounts where available | LightStream disclosure | Read more about Rates and Terms

Avant: Best for borrowers with poor credit

Avant offers personal loans from 2,000 to $35,000* with terms from two to five years••. If your credit is less than perfect, you might still qualify with Avant.

Axos Bank: Best for fast loan funding

If you’d like to quickly consolidate your debt, Axos Bank could be a good choice. You can borrow $5,000 to $35,000 and could have your money as soon as the next business day if you’re approved.

Best Egg: Best for borrowers with fair credit

Best Egg could be a good option if you want to borrow between $5,000 and $35,000 and have less-than-stellar credit. If you’re approved, you could have your funds within one to three days after successful verification.

Discover: Best for longer loan terms

With Discover, you could have up to seven years to repay your loan. This could get you a lower monthly payment, easing the strain on your budget. However, keep in mind that a longer interest term also means paying more in interest over time.

FreedomPlus: Best for consolidating high-interest debt

You might qualify for a lower interest rate on a FreedomPlus loan if you use at least 85% of the loan proceeds to pay off existing debt.

Adding a cosigner or showing proof of retirement savings could also get you a lower rate with FreedomPlus.

LendingClub: Best for borrowers who need a cosigner

LendingClub is one of the few lenders that allow cosigners on personal loans. If you have poor credit, applying with a cosigner could help you get approved.

LendingPoint: Best for borrowers with bad credit

LendingPoint specializes in working with borrowers who have near-prime credit — generally meaning a credit score in the upper 500s or 600s.

With LendingPoint, you can borrow $2,000 to $25,000 with a term ranging from two to five years.

Learn More: 3 Steps to Get a Debt Consolidation Loan for Bad Credit

LightStream: Best for large loan amounts

If you need to borrow a large amount, LightStream could be a good choice. You can borrow $5,000 to $100,000 with funding as soon as the same business day if you’re approved.

Marcus: Best for flexible repayment options

Marcus personal loans are available for $$3,500 to $40,0002 with terms from three to six years. Keep in mind that if you make on-time payments for 12 months, you can defer one payment interest-free.

OneMain Financial: Best for below-average credit

Unlike many other lenders, OneMain Financial doesn’t require a minimum credit score, which means you might qualify even if you have less-than-prime credit.

OneMain Financial also uses an in-person “ability to pay” evaluation to help determine your loan options.

Payoff: Best for consolidating credit card debt

Payoff personal loans can only be used to consolidate credit card debt. You can borrow $5,000 to $40,000 with a term ranging from two to five years.

PenFed: Best for small loan amounts

If you only need a small loan amount, PenFed could be a good option. You can borrow as little as $600 up to $35,000 with a term from one to five years.

Prosper: Best for borrowers with good credit

Prosper operates an online, peer-to-peer loan marketplace where you can borrow $2,000 to $40,000.

Note that when you apply for a Prosper loan, investors will need to commit to funding it, which means the loan process might take longer compared to other lenders.

SoFi: Best for borrowers with excellent credit

With SoFi, you can borrow $5,000 to $100,000 with a term from two to seven years. Although SoFi doesn’t disclose its credit requirements, most SoFi borrowers have very good to excellent credit.

As a SoFi borrower, you’ll also enjoy perks like unemployment protection and free financial advising.

Upgrade: Best for fast loan decisions

Upgrade personal loans are available for $1,000 to $50,0000 with terms of three or five years. If you’re approved, you could have your loan funded within a day of clearing necessary verifications.

Upstart: Best for borrowers with thin credit

Upstart will consider your education and job history to determine potential not reflected in your credit score. This means you might qualify even if you have thin credit — meaning you don’t have enough of a credit history to have a credit score.

Learn More: Pay Off Credit Card Debt ASAP With a Personal Loan

How to qualify for a debt consolidation loan

If you’re ready to get a debt consolidation loan, follow these three steps:

  1. Check your credit. Before shopping for a loan, it’s a good idea to make sure your credit is as strong as possible. You can check your credit reports from each of the credit bureaus for free through AnnualCreditReport.com. If there are any errors, dispute them with the appropriate credit bureaus to potentially boost your score.
  2. Compare lenders and pick a loan option. Be sure to compare as many lenders as possible to find the right loan for you. Consider not only rates but also repayment terms, any fees charged by the lender, and eligibility requirements. After comparing lenders, choose the loan that best suits your needs.
  3. Complete the application and get your funds. You’ll need to fill out a full application and submit any required documentation, such as tax returns or pay stubs. If you’re approved, the lender will have you sign for the loan so you can get your money — typically within one week or less, depending on the lender.
Tip: You’ll typically need good to excellent credit to qualify for a personal loan for debt consolidation, though there are some lenders that offer personal loans for bad credit. However, these loans generally come with higher interest rates compared to good credit loans.

If you’re struggling to qualify, you could also consider applying with a cosigner. Not all lenders allow cosigners on personal loans, but some do. Even if you don’t need a cosigner to qualify, having one might get you a lower rate than you’d get on your own.

It’s also important to consider how much a debt consolidation loan will cost you over time. This way, you can prepare for the new monthly payment and adjust your budget accordingly. You can estimate how much you’ll pay for a loan using our personal loan calculator below.

Enter your loan information to calculate how much you could pay

Total Payment
$

Total Interest
$

Monthly Payment
$

With a
$
loan, you will pay
$
monthly and a total of
$
in interest over the life of your loan. You will pay a total of
$
over the life of the
loan.


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Check Out: When to Use a Personal Line of Credit

What are the benefits of a debt consolidation loan?

Debt consolidation loans offer several benefits. For example, a debt consolidation loan could:

  • Streamline your payments: Instead of juggling multiple debt payments, consolidating your debt combines your balances and leaves you with just one payment going forward. This can help you more easily manage your debt.
  • Potentially reduce your interest rate: Depending on your credit, you might qualify for a lower interest rate compared to what you’ve been paying. This could help you save money on interest charges over time and maybe pay off your debt faster.
  • Give you a set payoff date: Debt consolidation loans have fixed repayment terms, so you’ll know exactly when you’ll be out of debt.

Learn More: Average Personal Loan Interest Rates

Can a debt consolidation loan hurt your credit score?

A debt consolidation loan could either help your credit score or hurt it — though keep in mind that the positive effects will likely outweigh any negative impact over time.

Here’s how a debt consolidation loan might negatively impact your credit:

  • Hard credit inquiry: The lender will perform a hard credit inquiry to determine your creditworthiness, which might cause your score to drop by a few points. However, this effect is usually only temporary, and your score will likely bounce back within a few months.
  • Missed payments: If you miss any of your loan payments, your credit could be damaged.

And here’s how a debt consolidation loan could you build your credit:

  • Build positive payment history: Payment history makes up the biggest part of your FICO score — 35%. If you make all of your payments on time, you might see your credit score go up.
  • Reduce credit utilization: Your credit utilization is the total amount of debt you owe divided by the amount of credit you have available, and it makes up 30% of your FICO score. If you reduce your debt with a debt consolidation loan, you could improve this ratio and potentially raise your credit score.

Check Out: Home Equity Loan vs. Personal Loan

Debt consolidation loan alternatives

If a debt consolidation loan doesn’t seem right for you, here are some other options to consider:

  • Credit card: Balance transfer cards allow you to move your balances to one card to help you pay off credit card debt. Some cards also offer a 0% APR introductory period, which means you could avoid paying any interest if you repay your balance by the time this period ends. However, keep in mind that if you can’t pay off your card in time, you could be stuck with hefty interest charges.
  • Home equity line of credit (HELOC): If you’re a homeowner and have equity in your home, a HELOC could be another way to consolidate your debt. Because a HELOC is secured by your home, you might get a lower rate compared to a personal loan — but this also means you risk losing your house if you can’t make your payments.
  • Debt management: If you’re overwhelmed by your debt, a nonprofit credit counseling agency — such as the National Foundation for Credit Counseling — could help you develop a debt management plan. The agency will work with your creditors to distribute your payments so you can become debt free within five years.

If you decide to take out a debt consolidation loan, remember to consider as many lenders as possible to find a loan that works for you. Credible makes this easy — you can compare your prequalified rates from multiple lenders in two minutes.

Ready to find your personal loan?
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About the author

Kat Tretina

Kat Tretina

Kat Tretina is a contributor to Credible who covers everything from student loans to personal loans to mortgages. Her work has appeared in publications like the Huffington Post, Money Magazine, MarketWatch, Business Insider, and more.

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https://biofera.org/payday-loan-consolidation-company-consolidate-cash-advance-loans-today/feed/ 0
Halle Capital Management announces investment in Planet Smile Partners, a new dental services organization focused on pediatric dentistry and orthodontics https://biofera.org/halle-capital-management-announces-investment-in-planet-smile-partners-a-new-dental-services-organization-focused-on-pediatric-dentistry-and-orthodontics/ Tue, 04 May 2021 23:55:34 +0000 https://biofera.org/halle-capital-management-announces-investment-in-planet-smile-partners-a-new-dental-services-organization-focused-on-pediatric-dentistry-and-orthodontics/

Halle Capital Management (“Halle”), a New York-based growth equity investment firm, today announced it has made a new investment in Planet Smile Partners (“PSP”), a new pediatric dental services organization and orthodontics (“DSO”).

PSP provides clinicians with a range of administrative services, alleviating the burden on providers who have to manage many tedious aspects of their practice, and allowing clinicians to focus on delivering world-class oral health services to their patients. .

In conjunction with Halle’s investment, PSP will initially partner with a group of New York-based dental practices currently known as Dentistry for Children Westchester (“DFC Westchester”). Dr Gary Heitzler, founder of DFC Westchester, will be the CEO of Planet Smile Partners and be responsible for scaling its platform and leading its strategic business initiatives.

“I am delighted to partner with a DSO that shares the values ​​on which DFC Westchester was built,” said Dr. Heitzler. “Planet Smile Partners has a cutting edge team and we look forward to working closely with like-minded dental practices to help them better serve their communities. “

“We are proud to invest in PSP’s strong, culture-driven leadership team,” said JP Gutfreund, Managing Partner of Halle Capital Management. “Dr. Heitzler and his team are committed to providing exceptional clinical care to children in our served communities and to supporting our practitioners with a full range of services and tools to facilitate their work. We look forward to a long and successful partnership. “

Planet Smile Partners intends to continue to partner with pediatric and orthodontic practices in the North East to become a leading regional DSO.

About Planet Smile Partners

Founded by experienced dentists, orthodontists and former DSO executives, Planet Smile Partners provides non-clinical business services to its network of supported dental practices. PSP’s mission is to ensure that all children have the opportunity to receive high quality dental care in their communities. PSP’s physician-led culture fosters strong clinical care, a diverse and inclusive work environment, flexible hours and opportunities for career advancement. Planet Smile Partners’ mission is to partner with pediatric dentists and orthodontists who share its values ​​and aspire to be part of a leading Northeastern DSO.

About Halle Capital Management

Halle Capital Management is a New York-based growth equity-focused investment firm that provides capital and strategic advice to companies in the healthcare, consumer and business services industries. We leverage our vast experience, strong professional network, collaborative spirit, and deep understanding of growth drivers to partner with mission-driven management teams. For more information, please visit www.hallecapital.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210401005438/en/

Contacts

Halle Capital Management
Mike Geller (Prosek Partners on behalf of Halle Capital)
914-715-8901
mgeller@prosek.com

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UPDATE 1 – South Africa’s Anglogold plays down merger prospects amid deal talks https://biofera.org/update-1-south-africas-anglogold-plays-down-merger-prospects-amid-deal-talks/ Tue, 04 May 2021 23:55:32 +0000 https://biofera.org/update-1-south-africas-anglogold-plays-down-merger-prospects-amid-deal-talks/

(Add actions, CEO comments and history)

TORONTO / JOHANNESBURG, March 31 (Reuters) – South African firm Anglogold Ashanti does not need to pursue mergers and will not scale up on its own, its acting chief executive said on Wednesday, softening the speculation that it could participate in other deals in the sector.

Sibanye-Stillwater CEO Neal Froneman this month pitched the idea of ​​a merger with peers AngloGold and Gold Fields, arguing that consolidation is needed for South African gold miners to be competitive worldwide.

Anglogold’s interim CEO Christine Ramon declined to comment directly when asked about a possible tie-up with Gold Fields during a panel discussion at the Mining Indaba Virtual Investment Program alongside Froneman and Mark Bristow, director of Barrick Gold.

Consolidation can bring benefits, including operational synergies, but can also add complexity and costs, she said.

“I think bigger doesn’t necessarily mean better. We wouldn’t be looking to build a ladder just for fun.”

Ramon, who replaced Kelvin Dushinsky as interim head of Anglogold last year, said the miner is focused on developing its own assets and has the backing of investors. “For us it is much more important not to be distracted,” she said.

Anglogold shares were flat on Wednesday.

The stock initially rose 2.6% while Gold Fields fell 2.6% after Froneman launched the prospect of a deal on March 8. Sibanye shares fell 1.2% that day.

Froneman has expressed interest in acquiring a mid-tier gold company with over one million ounces and operations outside of South Africa with the goal of growing its gold business.

Sibanye, which started out as a pure gold producer, went on to become the world’s largest platinum miner with its 2019 takeover of London-listed rival Lonmin.

Gold currently generates less than 20% of Sibanye’s profits, and the miner wants to diversify beyond platinum to support a sustainable dividend, Froneman said on Wednesday.

“To do that, you can’t be cyclical,” he told the panel. “You cannot have a strategy or a policy that puts you in the vagaries of commodity prices.”

(Reporting by Jeff Lewis in Toronto and Tanisha Heiberg in Johannesburg; editing by Jan Harvey and Mark Heinrich)

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The Onion reports there’s a new Visa card that’s literally telling you to splurge https://biofera.org/the-onion-reports-theres-a-new-visa-card-thats-literally-telling-you-to-splurge/ Tue, 04 May 2021 23:55:31 +0000 https://biofera.org/the-onion-reports-theres-a-new-visa-card-thats-literally-telling-you-to-splurge/

MasterCard, Visa, credit card


Flickr / roujo


We love to laugh, but when it comes to our money sometimes jokes get a little too close to home.

Onion knew it clearly when he published this fake press release from “Financial Services Giant Visa” on the Voice of the Visa Card, the talking piece of plastic that encourages you to say “F — it” and go overboard with the spending:

“Whenever you are near an item that you are hesitant to buy, Visa Voice offers words of encouragement, such as’ Go on, go for it! And ‘Believe me, you won’t regret it,’ “Visa President John Partridge said of the revolutionary new payments product, which allows users to choose between a calm, supportive female voice and a female voice. morally authoritarian male.

It’s probably on the minds of consumers anyway, but that doesn’t mean you have to listen. Here is some helpful tips for becoming a conscious spender and mute that “Visa voice” (or whatever you call it):

Ask yourself, “Can this wait?” “ If you really want something, try putting it on hold and wait a day before you buy it. Chances are, you’ll forget about it and spend the money on something else. Also try count to 10, says Trent Hamm, contributor to YM. This will help you take a step back and assess whether the purchase is worth it.

Ask yourself what motivates the purchase. Emotional spending won’t meet your needs, although it’s easy to fall into the trap of believing that a pair of strappy Louboutins could fill the void you feel after your boyfriend dumps you. Trust us, you will feel even uglier when the credit bill arrives.

Determine if you are getting the best deal. If you can find a better deal, stop the purchase. Sometimes all it takes is a simple Google search online or by taking a page from journalist YM Mandi Woodruff’s book and browse offer sites like CouponSherpa.com and RetailMeNot.com.

Find out now how a personal finance expert plans a cheap trip to Ireland>

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]]> Why Airbnb’s stock crashed today – then got a little better https://biofera.org/why-airbnbs-stock-crashed-today-then-got-a-little-better/ Tue, 04 May 2021 23:55:30 +0000 https://biofera.org/why-airbnbs-stock-crashed-today-then-got-a-little-better/

What happened

Virtual hotelier actions Airbnb (NASDAQ: ABNB) was caught in the technology stock market crash Tuesday morning, fall of more than 10% at the start of the session while the Nasdaq fell by 4%.

This is the bad news. The good news is that by 11:30 am EST things had calmed down a bit. The Nasdaq recovered at “only” a sale of 1.7%, and Airbnb is down “only” by 5.2% – and Loop Capital may be part of the reason for Airbnb’s partial takeover.

Image source: Getty Images.

So what

Loop Capital, you see, upgraded Airbnb shares to “buy” yesterday, ahead of the company’s first report as a publicly traded company, due Thursday, February 25. Loop gave the stocks a price target of $ 240, which implies roughly 30% upside the stock, according to StreetInsider.com.

“The growth in bookings for other alternative accommodation providers … has improved sequentially in Q4,” observes Loop, and this trend implies that Airbnb could exceed expectations in Q4 2020, and that it ” also continues in the 1st quarter “2021.

Now what

The most intriguing part of Loop Capital’s analysis – for equity investors – is this observation: third-party analytics firm AirDNA observed that “ABNB’s unit volume showed a strong directional correlation with bookings of UBER carpooling during the 11 quarters of recorded data. . “

Now, there are two conclusions an investor can draw from this observation (assuming it holds true in the future). First of all, Uber (NYSE: UBER)beat the winnings“but” missed income “when he reported earlier this month, a fact that could imply that Airbnb will similarly disappoint on sales when this reports Thursday. (This could mean that Loop is making a bad call recommending that you buy Airbnb shares today).

Perhaps more importantly, the fact that Uber schedules its earnings reports about 10 days before Airbnb reports means investors can get some sort of snapshot of how Airbnb is performing in a given quarter simply. by reviewing Uber’s report first.

To put it more simply: Uber earnings reports can give investors a kind of crystal ball, allowing them to even 10 days in the future and see how Airbnb’s revenue will evolve. Let’s go back Thursday and see how it works.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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3 stocks Warren Buffett would love https://biofera.org/3-stocks-warren-buffett-would-love/ Tue, 04 May 2021 23:55:29 +0000 https://biofera.org/3-stocks-warren-buffett-would-love/

Warren Buffett has built a track record of making good stock choices for decades. From American Express at Coca Cola and, more recently, Apple, buying the right stocks at the right time did Berkshire Hathaway one of the largest publicly traded companies.

Buffett generally looks for reasonably priced stocks that he can hold for the long term. They will often include a dividend, preferably a payment that increases periodically.

However, there are some companies that you might think of as “Warren Buffett stocks” that are not in the Berkshire portfolio. Given their valuations and economic models, stocks like BJ Wholesale (NYSE: BJ), Cardinal Health (NYSE: CAH), and Qualcomm (NASDAQ: QCOM) could potentially call on Buffett and offer the returns he’s looking for.

BJ Wholesale

BJ’s suffered what CFO Bob Eddy calls “transformational“changes thanks to increased business from COVID-19. This has allowed the company to generate more free cash flow in a quarter than it typically earns in a year. In addition, the debt of the company has shrunk and the retail stock is already up 78% this year.

BJ’s purchase could be compared to Buffett’s investment in Costco in 2000. At the time, Costco operated 349 warehouses and had a small presence outside of North America. Its footprint has more than doubled since then.

Now the same could happen with BJs. Since it has more capital, BJ’s is free to add locations in its central area on the east coast. Investors should also remember that companies like Costco have built investor fortunes by moving from regional to international companies. While no one expects to see BJ’s in California or China anytime soon, it has recently spread to Ohio and Michigan.

Few investors seem to have noticed it. BJ stock more than doubled from March lows. Despite this increase, it is trading at less than 16 times forward earnings. That’s significantly lower than Costco and other peers.

Additionally, it comes at a time when analysts are forecasting earnings growth of 81% for this year. They also believe profits will drop 11% in the next fiscal year as the pandemic recedes. Still, with the cash flow available to fund additional warehouses, investors shouldn’t expect market cap to stay below $ 6 billion for a long time.

Image source: Getty Images.

Cardinal Health

Buffett is no stranger to investing in health. One of his most notable investments has been DaVita, which he first bought in 2011. DaVita remains a Berkshire stake and has produced significant returns.

Given Cardinal Health’s current situation, Buffett could potentially repeat this feat. Cardinal relies heavily on elective surgeries for his income. With the lockdown putting these proceedings on hold, Cardinal’s revenue suffered. So far, it’s a stock that hasn’t recovered to its February high.

As a result, Cardinal is now trading at a forward P / E ratio of less than nine. Moreover, despite the loss of activity, analysts still expect earnings to rise, albeit less than 1%. Nonetheless, Cardinal expects earnings growth to improve to over 8% next year as the economy recovers from the pandemic.

Plus, Cardinal also offers one thing DaVita doesn’t: dividends. Its annual dividend of around $ 1.94 per share has not only earned over 4.3%, but has also been increasing every year for over 30 years.

Additionally, the company generated just under $ 1.6 billion in free cash flow in fiscal 2020. Given that dividend expenses for this period were only $ 569 million, Cardinal can easily fund future payment increases. Once Cardinal gets past the pandemic, he could once again see the kind of growth that attracts investors like Buffett.

Qualcomm

Buffett has long avoided technological investments. Nevertheless, after realizing his mistake, he took positions in Apple. Today, Apple is its biggest stake.

Given his potential, he might want a similar stake in Qualcomm. Qualcomm is the only major producer of a chipset needed to provide 5G service. Although this led to monopoly charges, Qualcomm was able to overturn the decision. He also fended off challenges from Apple and Intelligence in court and in the market.

A 5G upgrade cycle will likely begin with the next version of the iPhone, and Grand View Research predicts a 63.4% compound annual growth rate for 5G chipsets. Unless and until a competitor emerges, that advantage will primarily accrue to Qualcomm.

Although Qualcomm’s stock has risen in recent months, it sells for less than 19 times forward earnings. Additionally, analysts are forecasting earnings growth of over 63% next year, a forecast in line with Grand View’s forecast.

In addition, Qualcomm has also become a dividend growth stock. It introduced payments in 2003, and dividends have increased in most years since then. The current annual payout of $ 2.60 per share earns about 2.3%.

Assuming the growth of the 5G chipset is close to meeting expectations, new investors could see gains in Qualcomm that could make the Oracle of Omaha jealous.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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1 Consumer discretionary stock to avoid no matter what https://biofera.org/1-consumer-discretionary-stock-to-avoid-no-matter-what/ Tue, 04 May 2021 23:55:29 +0000 https://biofera.org/1-consumer-discretionary-stock-to-avoid-no-matter-what/

AMC Entertainment‘s (NYSE: AMC) stock caught the attention of Reddit group WallStreetBets this year. Starting in 2021 at around $ 2, the price rose to over $ 20 by the end of January. At present level, it’s still about six times he started the year.

Despite the day traders ” enthusiasm, there are good reasons not to buy into the hype. Let’s explore them.

Image source: Getty Images.

More options for watching movies

Fortunately, COVID-19 vaccines are being rolled out, which will hopefully bring a sense of normalcy back to the world. As the number of cases decreases, governments allow theaters to reopen. This includes New York City, where authorities have allowed them to operate at 25% of their capacity.

But I’m skeptical of how much this will help AMC’s results. Admittedly, 2020 has been a difficult year due to the pandemic. Revenue fell more than 77% to $ 1.2 billion and AMC’s loss widened to $ 4.6 billion from $ 149.1 million.

However, the virus has accelerated underlying trends that have plagued the industry for some time. In 2019, before the pandemic affecting the film industry, AMC’s revenue was $ 5.5 billion, stable from the period a year earlier. However, with faltering attendance, its admission revenue fell 2.5% to $ 3.3 billion.

While this year will undoubtedly draw more people to theaters, causing a rebound in revenues, AMC still faces some major challenges in the long term. Indeed, more and more filmmakers are releasing films even faster on streaming and on-demand premium services. These companies had already shortened the time between theatrical release and when people could watch a movie at home.

AT&TThe Warner Brothers division of Warner has announced that it will simultaneously release all of its films slated for 2021 in theaters and on its HBO Max streaming services. Walt disney is mixing of theatrical releases by putting films directly on its Disney + service, but with an additional charge for watching films early.

In any case, the window between when a movie appears in theaters exclusively and when it becomes available for streaming and other home services is narrowing. This offers more options to look at which is great for consumers. However, it’s more difficult for movie companies like AMC to get moviegoers in the door.

A lot of debt

Management has proven adept at preventing bankruptcy, escaping several times over the past year. Most recently, AMC raised $ 917 million by issuing debt and equity in January, a step that CEO Adam Aron said puts discussion of an impending bankruptcy “off the table.”

However, I wouldn’t be too excited given the heavy debt load. At the end of the year, AMC’s debt stood at $ 5.8 billion, up almost $ 1 billion from 2019. It had $ 308.3 million in cash. at the end of 2020. During that time, its operating cash flow was – $ 1.1 billion.

Not a good combination

If you are considering making an investment in shares of AMC, I advise you to reconsider. With competing ways to watch new movies sooner and a lot of debt, the combination will likely leave you with buyer’s remorse.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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Business News | Stock market and stock market news | Financial news https://biofera.org/business-news-stock-market-and-stock-market-news-financial-news/ Tue, 04 May 2021 23:55:29 +0000 https://biofera.org/business-news-stock-market-and-stock-market-news-financial-news/





















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