In a follow-up e-mail, a Jackson Hewitt representative defined a refund-anticipation loan as a loan "provided by a bank to an approved applicant that was secured by their anticipated tax refund".
T. Allan McArtor, Legend's president, said that the airline had received only $250,000 of an anticipated $20 million loan from the investor group, the Legend Funding Group.
And I couldn't help wondering whether the new loans Sirleaf anticipated, with their generous deferrals of payment, would only result later in another round of impossible amounts owed, another round of forgiveness sought from the world's powerful nations, another confirmation of Liberia's — and Africa's — mismanagement and dispiriting dependence on international charity.
Providian warned its fourth-quarter results would be weakened by higher-than-anticipated credit losses and loan loss provision, and lower loan growth.
The culprits are a writedown of investments in other companies, as well as an increase in reserves for anticipated losses from consumer loans to buy the machines.
That estimate ignores the additional effect of changes in exposure to real estate on business lending that occurs through changes in the ratio of non-performing loans and anticipated drops in capital.
In a letter to lawmakers Friday, FHA Commissioner Carol Galante said the agency would need about $1.7 billion on Monday, the last day of the fiscal year, to ensure it has sufficient reserves to cover anticipated losses on the loans it backs.
The next series of blows came the following spring -- the theater had begun missing payments on the new loan and the anticipated $335,000 from the New Jersey State Council on the Arts became uncertain.
The SmartLine product, it said, is a line of credit, "not to be confused with a loan on an anticipated tax refund amount," adding, "It has no connection with the applicant's tax refund and is open to any BillFloat applicant throughout the year".
With the tax season under way, at least two consumer groups are warning people about the high cost of taking out loans against their anticipated refunds.
