Word: loaned
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Dates: during 2000-2009
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...Nevertheless, as of Thursday afternoon, over 450 individuals had signed the online petition, including students, residents, faculty, and physicians from HMS and its affiliated hospitals. The petition calls for the School's administration to present a detailed plan of action for expanding institutional support despite the budget cut, expand loan forgiveness initiatives that financially enable students to pursue primary care specialties, support efforts to strengthen primary care in a reformed national health care system, and solicit and implement proposals from the HMS community to improve primary care education...
...Harvard, where specialty medicine and research have traditionally been heralded, some continue to feel that HMS can and needs to do more to support primary care by providing financial support and elevating the field's stature within the community. The HMS Joseph B. Martin Loan Forgiveness Initiative allows third-year students pursuing specialties in primary care, family medicine, and psychiatry to receive up to $60,000 in debt reduction, but the circulating petition states that loan forgiveness can only be "one component of a multi-pronged strategy to boost student interest" and that HMS must work to do so throughout...
...Wang Baoguo, CEO of the Hangzhou Dafeng Furniture Co., securing two loans via Alibaba has meant gaining the cash to buy raw materials at lower cost. The seven-year-old company employs 150 people and manufactures wooden home furnishings. But despite its experience, Hangzhou Dafeng has traditionally avoided pursuing credit through traditional channels. "A small start-up company like ours doesn't remotely qualify for loans under the banks' criteria, so I didn't even bother to try," says Wang. Through the Alibaba program, the company was approved for a $100,000 loan. After repaying that, it applied...
...This imbalance has forced small-business owners to avail themselves of unusual lending schemes. In many regions, companies are forced to go around the traditional banking system altogether by borrowing from other businesspeople or even loan sharks. This sort of informal banking, which has a long history in China, has become more popular as the economy slows, says Du Xiaoshan, deputy director of Rural Development Institute at the Chinese Academy of Social Sciences. "It's hard for small and rural businesses to get bank loans, so there's generally more informal lending happening," says Du. (Read "The Argument Over China...
...that China does not have a well-established system of credit ratings. "Banks are geared to lending to very big companies that are very easy to understand," says Spelich. "Lending to a company that has maybe five employees is not an intuitive thing." Banks consider small businesses poor loan candidates because they have shorter life cycles, often keep spotty financial records and lack significant property or other forms of collateral, says Du, the Chinese Academy of Social Sciences deputy director. Lending to a state-owned enterprise comes with at least the tacit understanding that the government will guarantee the loan...