Word: loaned
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Dates: during 1980-1989
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Several members opposed funding the club's travel expenses in light of its refusal of similar requests from other groups earlier in the year. The rugby team received a $1000 grant and $700 loan this year towards previous expenses...
...University might be able to help but not to the tune of $8-10,000," said Weeks, adding that University officials said they might be able to act as a middleman for a bank loan that the rugby players could work off during the summer...
...though, many consumers have been able to duck some of the high cost of money by taking out adjustable-rate mortgages from builders and lenders. Such loans, which typically are made at 2 to 2.5 percentage points below the interest on fixed-rate mortgages and begin to rise after a year, now account for an estimated 60% of all home lending. Notes Robert Adelizzi, president of San Diego-based Home Federal Savings & Loan: "As many as 200,000 U.S. families last year were able to get into housing that they would not have been able to afford without adjustable-rate...
Among those who have taken advantage of the reduced initial borrowing costs are Michael and Cheryl Petryni, who recently bought a $161,000, three-bedroom suburban Los Angeles home. Their loan carries a first-year interest rate of 10¼% and has a cap that will keep the rate from rising above 15¼%. Says Michael Petryni, 36, a screenwriter: "I studied the adjustable mortgages at seven different lending institutions, and after a while they all started to sound the same...
...that officials of the U.S. Federal Reserve assured private lenders that the $100 million they contributed to the bailout would be repaid. The Federal Reserve told banks that Argentina had more than that amount on deposit with it and that those funds would be used to pay off the loan. Given that indirect guarantee, the private banks charged an interest rate that was only one-eighth of a percentage point more than what they charge one another on loans...