Financial – Eq Muscle Release Thu, 22 Jul 2021 02:48:49 +0000 en-US hourly 1 Financial – Eq Muscle Release 32 32 University Libraries Celebrate 19th Amendment Centenary with Online Event and Exhibition | University Libraries Tue, 09 Mar 2021 10:57:03 +0000

The ratification of the 19th Amendment on August 18, 1920 guaranteed and protected women’s right to vote. To celebrate, University Libraries, the Boulder County League of Women Voters and CU Boulder Associate Professor of Women and Gender Studies Celeste Montoya will participate in a virtual panel discussion on Tuesday, September 15.

Photograph of Colorado’s ratification of the 19th Amendment, December 12, 1919 (Photo / Library of Congress)

Panelists Rachael Willihnganz, Jackie Alderete, Hannah Rain Crowe and Rossana Longo join Montoya. Together, they will discuss the history of the long struggle for women’s suffrage, the challenges of the years since the adoption of the amendment and the League of Voters’ “She is Me” project.

Registration is free and open to everyone. Login information will be shared via email after registration.

Before the virtual event, explore the suffrage movement in the context of the broader struggle for women’s rights through the online exhibition, “Marching towards women’s suffrage“, curated by Sarah Vlasity, CU Boulder alumnus. The exhibit materials held by Special Collections & Archives, Collections of Distinction and University Libraries chart a course from efforts to promote equal access to education in the eighteenth century to increasing calls for the extension of social and legal rights from the middle of the nineteenth century.

The panelists’ discussion will be recorded and the feed will be available on the University Libraries website YouTube page. Video to come.

Source link

Be careful with Rocket and other mortgage companies right now Tue, 09 Mar 2021 10:57:03 +0000

Actions of Rocket companies (NYSE: RKT), the nation’s largest mortgage originator, jumped 70% on Tuesday, to close just under $ 42 a share. This was probably fueled by the WallStreetBets (WSB) traders behind the meteoric rise in GameStop and AMC. Members of the WSB Reddit group have spoken of buying Rocket, and nearly 40% of the company’s stock has been sold short, making it a prime target for a short squeeze.

Rocket shares fell more than 30% on Wednesday, but may remain volatile for the next several weeks. While no one knows how long the potential short squeeze will last, investors should be careful about investing in Rocket and other mortgage companies as they could soon find themselves in a difficult environment in which to operate.

How Mortgage Companies Work

Mortgage companies specialize in providing home loans to people looking to buy a home or refinance an existing home loan. However, mortgage companies like Rocket, loan deposit, and UWM Holdings, which have also seen pops recently, are not licensed banks, so they don’t have a lot of mortgages on their balance sheets.

Instead, companies like Rocket take most of the loans they take and sell them on the secondary market to government-sponsored entities like Fannie Mae, Freddie mac, and Ginnie Mae. In return, they are paid a fee. It’s not Rocket’s only form of income, but it’s the main one, so the more loans the business takes, the more money they’ll make.

Image source: Getty Images.

For example, the income from the gain on the sale of these loans represented approximately 61% and 76% of Rocket’s total income in 2019 and 2020, respectively.

Mortgage companies like Rocket also charge a fee for servicing the mortgages they sell in the secondary market, but selling the loans in the secondary market is the heart of the business.

Why should you be careful

The mortgage industry is very sensitive to interest rates, which, on second thought, makes sense. When mortgage rates go down, more and more people want to buy a home because they can get a loan at a lower interest rate. Existing homeowners also want to refinance their loans, as they can swap their current higher mortgage rate for a lower rate, resulting in lower monthly mortgage payments. As a result, lower mortgage rates benefit mortgage companies.

This scenario fully manifested itself in 2020. Due to the coronavirus pandemic, the Federal Reserve lowered its benchmark federal funds rate from 2% to virtually zero. This, in turn, pushed the yield on the 10-year US Treasury bill, a direct benchmark for mortgage rates, to record highs. The sudden drop sparked a wave of refinancing activity, which mortgage companies like Rocket surfed to record loan origination and record profits in 2020.

But investors are looking to the future. While 2020 has been a great year, many investors now believe the mortgage market has peaked, which is probably the reason for the low interest in Rocket. In addition, the powered WSB trades in Rocket literally occur as the yield on the 10-year note has soared.

Keep in mind that mortgage rates are directly tied to this benchmark, so as the yield on the 10-year note rises, mortgages become less attractive to new and existing homeowners, which is bad for Rocket activities. Additionally, the Fed could decide to raise its fed funds rate in 2022 or 2023, which could then push up the yield on the 10-year note, pushing mortgage rates further up. As a result, people are investing money in the business as its prospects deteriorate.

Final thoughts

Just a few days ago, Rocket wasn’t trading too much above its IPO price from August of last year. I don’t think the company deserves so much interest at this level. It is the biggest initiator in the country and it has good technology, which puts it in the best position to grab a dominant market share in a fragmented mortgage market. A more dominant market share will allow Rocket to increase its purchase mortgage origination when rates rise.

Rocket also has other lines of business, such as auto loans, which can help ease the heavy reliance on mortgages. But the sudden jump in Rocket’s share price this week created too rich a valuation. While Wednesday’s $ 28.01 closing price doesn’t look unrealistic in the long term, it leaves little real benefit at the moment other than a potential WSB-fueled jump.

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 heterogeneous! 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.

Source link

North Carolina woman accused of using her $ 149,000 Covid-19 relief loan for shopping sprees Tue, 09 Mar 2021 10:57:02 +0000 By Anjali Huynh and Keith Allen, CNN

(CNN) – In millions struggle to stay afloat during the Covid-19 pandemic, the latest purchases that most minds think about are Louis Vuitton and diamonds.

But in a state facing a 6.5% unemployment rate Last August, a North Carolina woman reportedly used a $ 149,000 Covid-19 relief loan to purchase items from businesses including Louis Vuitton, Nordstrom, Neiman Marcus, IKEA and several diamond stores.

Jasmine Johnnae Clifton, a 24-year-old Charlotte resident, appeared in federal court this week after being charged with two counts of fraud for using a business that had been dissolved to obtain Covid-19 relief funds, according to a Release of the United States Attorney’s Office for the Western District of North Carolina.

The loan was part of the CARES Act Economic Disaster Lending Program. Funding has been provided by the US Small Business Administration (SBA) to small businesses in North Carolina “suffering substantial economic harm” as a result of the pandemic, according to a ASB press release.

Clifton did not respond to CNN’s requests for comment and his public defender declined to comment due to the pending status of the case.

Indictment: The loan was for a business that no longer existed

Clifton first applied to start an online clothing retail business Jazzy Jas LLC in February 2019 and applied for the SBA loan for the business on July 24, 2020, according to the deed of accusation obtained by CNN.

The problem? According to the indictment, the company no longer existed. He had been officially disbanded with the North Carolina Secretary of State a few months earlier in March 2020, but effectively disbanded in September 2019.

In order to secure funding, Clifton allegedly submitted a loan application on July 24, 2020, falsely stating that Jazzy Jas LLC generated $ 350,000 in income over a 12-month period prior to the pandemic, according to the indictment.

“CLIFTON has specifically agreed to use the proceeds from the loan for Jazzy Jas LLC” only as working capital to mitigate the economic damage caused by the disaster on January 31, 2020, “” the indictment reads.

A $ 150,000 loan was approved on August 8, 2020, and the indictment says the funds, less the $ 100 fee, were deposited into the Clifton credit union account approximately three days longer. late.

The indictment indicates that Clifton used the previous existence of Jazzy Jas LLC to “operate a federal loan program and obtain a substantial sum of money.” The federal government seized approximately $ 50,000 in funds from the Clifton credit union account in November, according to the indictment.

A grand jury first indicted Clifton on February 17 with wire fraud in connection with a disaster benefit and fraud in connection with a major disaster or emergency benefits. If convicted, the press release said the charges could result in a maximum of 30 years in prison each and a total of $ 1,250,000 in fines.

Clifton was released on $ 25,000 bail after his court appearance on Monday, the court record noted.

US lawyer wants Covid-19 funds to help the right people

Small businesses have particularly struggled to keep operating during the pandemic. More than 74% of small businesses reported experiencing a moderate overall adverse effect or a significant adverse effect as a result of the Covid-19 pandemic, according to the most recent data available from the US Census Bureau. Small Business Pulse Survey, taken the week of January 4 to January 10, 2021.

“At a time when our nation is grappling with the effects of the coronavirus pandemic and businesses are struggling to cope with the impact of COVID, scammers are seizing the opportunity to steal federal economic aid programs for line their pockets, “wrote US Attorney Andrew Murray. in a statement sent to CNN.

“My office is working hard to find criminals trying to exploit the pandemic and steal money intended for the economic recovery of businesses and communities in the Western District of North Carolina. “

The-CNN-Wire ™ & © 2018 Cable News Network, Inc., a Time Warner Company. All rights reserved.

Source link

California Gold Provides Company Update and Completes Tue, 09 Mar 2021 10:57:02 +0000

TORONTO, November 06, 2020 (GLOBE NEWSWIRE) – California Gold Mining Inc. (CSE: CGM) (“California Gold“or the”Company”) Announces today a strategic review in a special committee and the completion of a subordinated debt financing.

Special committee

Following the announcement of September 30, 2020 regarding the appointment of Mr. Scott Rasenberg as Chairman of the Board to replace Mr. Patrick Cronin and Mr. Larry Phillips as Interim President and Chief Executive Officer, at the following the termination of Mr. Vishal Gupta’s employment, the board of directors (the “advice”) And the new management team have concluded an initial review of the operations and financial condition of the Company, including an assessment of the short-term cash requirements for the orderly pursuit of the Company’s operations.

The Council established a special committee, composed of Scott Rasenberg, Larry Phillips and William Tomlinson (the “”Special committee‘), To conduct a review process to explore, examine and assess a wide range of potential alternatives focused on maximizing shareholder value, including a potential sale or merger of the Company. Company, a divestiture of mineral exploration assets held by the Company and a general review of the hemp business. The special committee will also consider the financing alternatives available to the company due to the limited capital resources and, as explained in more detail below, the inability to earn income from the isolated stocks held under of hemp activity. There can be no assurance that this process will result in a transaction.

The Company has not made any decisions regarding the strategic alternatives regarding the Company’s mining assets at this time, and there can be no assurance that the evaluation of the alternatives will result in a transaction or change in strategy. The Company does not intend to disclose further developments regarding this process unless and until the Board has approved a specific course of action or the Company has determined that further disclosure is appropriate or necessary.

Financing of subordinated loans

Regarding the financial position of the Company, the Company has entered into a secured subordinated credit facility (the “Subordinated secured loan“) with RW Tomlinson Limited on the following main conditions: a principal amount of up to $ 1,000,000, advanced in two installments of $ 500,000, the first immediately and the second if certain conditions are met at the beginning of January 2021, interest run at 14% per annum and is paid at maturity (i.e. April 2021). Warrants will also be issued to the subordinate lender to purchase 300,000 common shares at an exercise price equal to the higher by $ 0.15 and the closing market price on November 6, 2020 (“Mandates“). The first tranche of the subordinated secured loan has been received by the Company, the proceeds of which, together with the availability of the second tranche, are expected to finance the operating costs of the Company until the second quarter of 2021. As stated above , the Special Committee will continue to review and assess the funding alternatives available to the Company.

Since RW Tomlinson is an insider of the Company, the subordinated secured loan and related warrants constitute a “related party transaction” within the meaning of Multilateral Instrument 61-101. – Protection of holders of minority securities in special transactions (“MI 61-101), Which requires the Company to obtain minority approval and a valuation of the related party transaction, unless there is an exemption from these requirements. The Company avails itself of the exemptions provided for in sections 5.5 (b) and 5.7 (1) (a) of Regulation 61-101 on the basis that the Company’s securities are listed on the Canadian Securities Exchange (“CST”) And that the fair market value of the related party transaction is less than 25% of the Company’s market capitalization.

In connection with the above financing, Romspen Investment Corporation (“Romspen“), the Company’s existing senior lender, has agreed to the new financing and has agreed to forbear from any execution in connection with the missed interest payments under the senior facility for September, October and November 2020 and add these unpaid amounts to the amounts to be repaid on the due date in exchange for the issuance of warrants to purchase 300,000 common shares at an exercise price equal to the greater of $ 0.15 and the market closing price on November 6, 2020.

Hemp business

Since December 2019, the Company’s industrial hemp activity (“Hemp business”) Has been affected by external factors, including a decrease in demand and competition among supply chain players, regulatory uncertainties regarding the characterization of the CBD isolate and the impact of COVID-19 on general economic conditions, leading to significant pressure on prices.

Due to the evolution of these developments, the Company did not plant any crops on the Grove Road farm in 2020 and, in September 2020, put the property up for sale. The proceeds of any sale will be used to reduce the Company’s senior credit facility with Romspen. The Special Commission is no longer considering the purchase of successive batches of biomass from other farmers.

The Company’s revenue from the sale of the first tranche of CBD Isolate announced on August 17, 2020 has been applied to the outstanding liabilities related to the purchase of biomass and processing by Isolera. The sale was made by Isolera, and the Isolate form of CBD required additional processing costs that were not originally considered. Therefore, no proceeds from the sale were received by the Company.

The company’s current inventory of bulk hemp-CBD products is located at the Isolera facility in North Carolina. Based on Isolera’s unaudited statements, the inventory equates to over 31 kilograms of CBD isolate, 520 liters of full spectrum distillate, 833 liters of crude oil and 754 liters of Mothers Liquor – 754 liters. The special committee undertook a review of the hemp activity as well as an assessment of the fair valuation of the inventory. The view of the Special Committee, at present, is that the value of the inventory is, without further processing (which would result in significant additional expense), insufficient to pay for all associated costs and expenses and accrued liabilities. of the hemp business. .

Larry Phillips added that “It has been a difficult year for California Gold due to factors such as the COVID-19 pandemic and developments in the CBD isolates market. The Company also saw changes in its board of directors and senior management following the AGM. Since taking on the role of Interim President and CEO at the end of September, I have worked closely with the CFO and other members of the Special Committee to carefully and carefully review the activities and Company operations. While we are still in the midst of the Special Committee’s review, we have already determined that it is in the best interests of the shareholders that the hemp business be liquidated in an orderly manner in order to preserve overall value for all shareholders. . “

About California Gold Mining Inc.

California Gold Mining Inc. is focused on the continued development of a high quality gold resource on its 100% owned Fremont property in Mariposa County, California. The Fremont property consists of a set of fully private and patented lands totaling 3,351 acres of historically producing gold mines, with a national road, a PG&E electrical substation and abundant water present on the property itself. . The Fremont property is located in California’s prolific Mother Lode gold belt which has produced over 50 million ounces of gold. The Company purchased the Fremont property in March 2013.

The Company’s technical report with respect to the Fremont property prepared in accordance with National Instrument 43-101 is available on SEDAR at and on the Company’s website at


This California Gold press release contains statements that constitute “forward-looking statements”. Forward-looking statements are statements which are not historical facts and include, but are not limited to, the disclosure of possible events, which are based on assumptions and action plans, and in some cases may be identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “the potential” and similar expressions, or that events or conditions “will”, “would”, “could”, “could” “or” should “occur, or the negative forms of any of these words and other similar expressions. Forward-looking statements include: the intention of the Special Committee to review and assess a wide range of potential alternatives focused on maximizing shareholder value; the Company’s intention not to disclose further developments regarding the Special Committee review process; management’s expectations as to the length of time the subordinated secured loan will finance operations; the issuance of warrants to the subordinate lender; the Company’s intention to apply the proceeds from the sale of Grove Road Farm to the Company’s senior credit facility with Romspen; and statements relating to the processing and future plans of the company’s hemp business. Forward-looking statements are based on various assumptions, including with respect to sources of funding and use of funds, results of operations, performance, business prospects and opportunities. Although the forward-looking statements contained in this press release are based on what the management of the Company considers to be reasonable assumptions as of the date of this press release, these assumptions may prove to be incorrect. Forward-looking statements involve known and unknown risks and uncertainties, they should not be interpreted as guarantees of future performance or results, and they do not necessarily constitute precise indications as to whether or not such results will be obtained. A number of factors could cause actual results, performance or achievements to differ materially from results discussed in forward-looking statements, including, but not limited to: general business, economic, competitive, political and social uncertainties; lack of available capital; the Company’s ability to sell Grove Road Farm and the expected timing and conditions of such sale; the impact of COVID-19 on the Company’s activities; and other risks detailed from time to time in the Company’s current files with securities regulatory authorities, which files can be viewed at California Gold cannot assure readers that actual results will be consistent with these forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements contained in this press release. These forward-looking statements are made as of the date of this press release and California Gold disclaims any intention or obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as otherwise provided by the law.

Neither CSE nor its regulatory services provider (as that term is defined in CSE policies) accepts responsibility for the adequacy or accuracy of this release.

For more information contact:

Mr. Larry Phillips, Interim President and CEO
Phone. : 647.977.9267 | Website:

]]> Equity takes over cable manufacturer’s $ 20 million deficit loan Tue, 09 Mar 2021 10:57:02 +0000


Equity Group Holdings (EGH) Ltd has taken over more than $ 20 million in loans owed by the loss suffered by East African Cables Ltd as part of a major debt restructuring plan to put the manufacturer back on a solid financial footing .

The restructuring will result in the refinancing of East African Cables’ existing debt over a longer period to allow it to inject cash flow back into the business and reduce monthly loan principal repayments.

The savings from the transaction should be recognized in the financial statements for the year 2019 which was carried over to July 31.

The East African Cables, which is listed on the Nairobi Stock Exchange, is grappling with a huge portfolio of Ksh 3.55 billion ($ 35.5 million) debt on its balance sheet which has eroded its flows cash flow, pushing it into a negative working capital position of Ksh 3.27 billion ($ 32.7 million).

The debt, according to the company’s 2018 annual report, is owed to several banks, including Standard Chartered Bank Kenya, $ 25.6 million, and Standard Chartered Bank Tanzania, $ 5.32 million.

The other lenders are Ecobank Kenya Ltd, $ 1.61 million, the State Bank of Mauritius, $ 2.85 million and Credit Bank Kenya Ltd, $ 38,200. The debt was due to be repaid on December 31, 2018.


As a result, Equity Bank took over loans in the amount of Ksh1.6 billion ($ 16 million) relating to Standard Chartered Bank Kenya Ltd and Standard Chartered Bank Tanzania Ltd at a discount and restructured them over a term of 10 years, including a two-year moratorium. on loan principal repayment and six months on interest repayment.

At the same time, the company opened a discussion with Equity Bank to take over and restructure over a period of 10 years the other loans owed to Ecobank Kenya Ltd and SBM Bank Kenya Ltd in the amount of Ksh 161 million (1.61 million) and Ksh 285 million ($ 2.85 million). ), respectively, which were due and payable on demand. This brought the total loans acquired by Equity Bank to $ 20.46 million.


“The Group and the company have entered into discussions with a new lender (Equity Bank) which has taken over the debt to Standard Chartered Bank Kenya Ltd and Standard Chartered Bank Tanzania Ltd as of December 31, 2018”, said East African Cables in its annual report from 2018.

“Discussions are progressing to finalize the resumption of loans owed to the other two lenders, Ecobank Kenya Ltd and SBM Bank Kenya Ltd. The new lender offered the group a 10-year term with a two-year moratorium on principal repayments and a six-month moratorium on interest payments.

In May, East African Cables announced that it had reached an agreement with SBM (formerly Chase Bank) to restructure Ksh 285 million ($ 2.85 million) debt due and payable on demand.

The deal saw SBM withdraw a liquidation petition against EA Cables.

“The deal involves a restructuring of the current facilities by the bank as part of a new long-term facility and security agreement,” Company Secretary Virginia Ndunge said in a public notice.

“The company has continued to actively engage all lenders and has made significant progress in completing the remaining phase which includes debt with SBM Bank Kenya Ltd.”

Company general manager Paul Muigai was unable to answer our questions via email as of press time.

EAC has manufacturing facilities in Kenya and Tanzania and a presence in Uganda, Rwanda, Burundi, South Sudan and eastern Democratic Republic of the Congo, through a distribution network.

The company, 68.38% owned by Kenyan infrastructure investment firm Transcentury Group, recorded losses amounting to Ksh 568.38 million ($ 5.68 million) and Ksh 662.83 million. Ksh ($ 6.62 million) in 2018 and 2017 respectively.

In 2016, losses amounted to Ksh 583 million ($ 5.83 million) compared to Ksh 741 million ($ 7.41 million) in 2015.

In 2014, the company achieved a net profit of Ksh 341 million ($ 3.41 million).

The “intense” cycle of PPP loan applications starts in 2021 for CPAs Tue, 09 Mar 2021 10:57:01 +0000

Greg White spent the generally slow week between Christmas and New Years preparing for what could be a January storm: up to 500 clients who may need help from his small Seattle accounting firm to submit reports. requests for another round of federal relief loans.

White is hoping, however, that this round of nominations goes more smoothly than it did last spring, when sorted accountants navigating panicked business owners through a massive government program that had few rules and unprepared lenders. Congress injected $ 284 billion more into the Paycheck Protection Program in a bill enacted the law on Dec. 27 and added some new twists to the second phase of the loan program meant to help small businesses closed and still struggling with the pandemic.

“People are going to be very anxious to get their hands on this money as fast as they can,” said White, shareholder and founder of WGN PS. “It was a gold rush the last time around. It was a dog fight to get that money.

Almost half of small businesses would apply for a second PPP loan if they are eligible, and 22% of borrowers have or expect to have to lay off staff in the next six months, according to a December survey nearly 600 members of the National Federation of Independent Business.

Many of White’s clients are in the commercial fishing industry, ranging from large industrial operations to small “mom and pop” businesses. Those who supply netting used in grocery store staples have done well this year, but those who deliver fresh catches to restaurants have struggled alongside their restaurant customers.

White sent an email last week urging clients to start preparing even while waiting for updated application forms and advice on how to apply under the amended Small Business Administration and Treasury Department requirements. . Only a few responded initially, but White has said he expects it to pick up again soon.

the law provides additional loan relief to restaurants, allows businesses to deduce of their tax expenditures they paid with the loans, caps the size of businesses that could apply for relief, and simplifies the loan forgiveness process, among other measures.

The application form and guidance could be available as early as this week, and loan applications could start rolling out the second week of January with the so-called PPP2 going live, said Erik Asgeirsson, president and CEO of

A quick start

Companies should prepare for “a busy time” and start talking to their customers, updating engagement agreements and uploading as much information and documentation as possible, Asgeirsson suggested.

“It will be a quick start to the year,” said Asgeirsson, the American Institute of CPA’s contact person for the loan program response.

Also according to Asgeirsson, this wave of applications should be easier this time. The updated program builds on the existing PPP framework and payroll processors have reports ready for business to use.

He encouraged companies to take advantage of existing software and resources to calculate payroll and other information needed to submit loan applications. Among these options: the AICPA’s own cloud-based tool, which has been updated to reflect the new law, rather than creating new tools and calculators in-house.

A not-so-calm vacation

For some CPA firms, the January rush started early.

Phone calls and emails retrieved during what was normally a week off for Sensiba San Filippo LLP CPAs. Clients wanted to know if they were eligible for the updated PPP loans – a look into the busy month ahead, said Frank Balestreri, the firm’s partner in charge of its consulting practice, overseeing its PPP work.

Balestreri was supposed to be on vacation. Instead, he spent the vacation week updating his company’s web portal and chatting with bankers about who would accept applications and when.

“It’s first come, first served. And when the money runs out, it’s like musical chairs. You don’t want to be the last man standing, ”he said.

The San Francisco-based company serves clients in the hospitality, construction, and service industries, including a domestic shutters vendor reeling from intermittent shutdown orders and a restaurant supplier who typically works with customers. corporate kitchens that power Silicon Valley’s tech armies. workers.

Balestreri said he was waiting to post a webinar until he got advice on some key concepts of the updated loan program, including a new limitation that an applicant’s gross receipts must have declined. at least 25% compared to the previous year. These details will be important to businesses that might be close to that threshold, and the method of accounting they use to run their business might also come into play.

Without these additional details, PPP2 could be exposed to the same confusion that frustrated the initial deployment of the program.

“We have this 5,000 page document out there but someone has yet to translate it,” Balestreri said. “We need to see a loan application. We need to understand exactly how this concept of gross revenue will be interpreted.

Are 401 (k) loan repayments double taxed? Tue, 09 Mar 2021 10:57:01 +0000


My wife and I took out a 401 (k) loan to help cover the costs of renovating our newly acquired home.