FEMA approves more than $1 million for flood victims

first_imgMore than $1 million in federal disaster aid has been approved for eligible applicants in Vermont affected by the spring storms and flooding that occurred from April 23 to May 9.Since President Obama issued a major disaster declaration on June 15th for these storms in the counties of Addison, Chittenden, Essex, Franklin, Grand Isle, Lamoille, and Orleans, over 800 people have registered with the Federal Emergency Management Agency (FEMA).The grants include $1,050,536 in housing assistance, such as rental and home repair assistance, and $25,820 in other needs assistance, such as replacement of personal property.Caledonia and Washington counties recently received federal declarations on Friday, July 8, for storms and flooding that occurred May 26th to 27th.FEMA assistance to individuals and families may include grants for temporary housing and home repairs, low-interest loans to cover uninsured property losses and other programs to help individuals and families recover. Those who have experienced damage or loss from the flooding in the designated counties can register for disaster assistance at 800-621-FEMA (3362). Multilingual registration assistance is also available. Those with a speech disability or hearing loss who use a TTY can call 800-462-7585 directly, or 800-621-3362, if using 711 or Video Relay Service. Registration can also be done online anytime at www.DisasterAssistance.gov(link is external) or through web-enabled mobile phone devices at m.fema.gov.The following is a recap of activities and assistance provided by FEMA and its partners:Community Relations: To help identify and assist those who have flooding damage, FEMA Community Relations field specialists have visited more than 2,500 homes, businesses, local agencies and community-based organizations, and houses of worship, and reached out to local officials, the visually impaired, deaf and those with limited English proficiency.Disaster Recovery Centers: Currently, four DRCs are open throughout the state, where those with questions about assistance after the floods can visit with a federal recovery specialist face-to-face. Those looking for the nearest disaster recovery center can check online at https://asd.fema.gov/inter/locator/drcLocator.jsp(link is external) or call the FEMA Helpline at 800-621-FEMA (3362). Low-Interest Loans: The U.S. Small Business Administration offers low-interest, long-term disaster loans to homeowners and renters as well as businesses. Find more information at www.sba.gov(link is external). Job Loss Due To Disaster: You may be eligible for disaster unemployment assistance if the storms and flooding affected your ability to work. For more information call 877-214-3330 or visit www.labor.vermont.gov(link is external).Legal Services: If you need legal assistance with home repair contracts, insurance claims and other disaster-related issues, you can call 800-889-2047 for free legal advice. The service is a partnership between Vermont Volunteer Lawyers Project, the Vermont Bar Association Young Lawyers Division, the American Bar Association Young Lawyers Division and FEMA.FEMA’s mission is to support our citizens and first responders to ensure that as a nation we work together to build, sustain, and improve our capability to prepare for, protect against, respond to, recover from, and mitigate all hazards.Disaster recovery assistance is available without regard to race, color, religion, nationality, sex, age, disability, English proficiency or economic status.  If you or someone you know has been discriminated against, call FEMA toll-free at 800-621-FEMA (3362). For TTY call 800-462-7585.  If you have a speech disability or hearing loss and use a TTY, call 1-800-462-7585 directly; if you use 711 or Video Relay Service (VRS), call  1-800-621-3362 FEMA’s temporary housing assistance and grants for public transportation expenses, medical and dental expenses, and funeral and burial expenses do not require individuals to apply for an SBA loan. However, applicants who receive SBA loan applications must submit them to SBA loan officers to be eligible for assistance that covers personal property, vehicle repair or replacement, and moving and storage expenses. SBA disaster loan information and application forms may be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for people with speech or hearing disabilities) Monday through Friday from 8 a.m. to 6 p.m. ET or by sending an e-mail to disastercustomerservice@sba.gov(link sends e-mail). Applications can also be downloaded from www.sba.gov(link is external) or completed on-line at https://disasterloan.sba.gov/ela/(link is external).last_img read more

Petrofin Research: Bank Ship Lending Dwindles

first_imgThe shipping industry saw USD 42.5 billion removed from the ship lending jar in 2016, according to Petrofin Research’s latest report on global bank ship finance.The fall has been mainly attributed to the removal of Commerzbank and Royal Bank of Scotland, the lower bank portfolios by many banks, as well as a stabilization of exposure by Chinese banks, as a result of the sharp increase of Chinese Leasing.According to Petrofin, the top 40 banks had a total of USD 355.25 billion exposure to shipping at the end of December 2016.“Global bank finance now stands at the 2007 levels. Bank sentiment is still affected by loan losses and high provisions, sales of portfolios to financial institutional funds, international and European restrictions and the still not so bright outlook of shipping, which makes shipping banks quite cautious and seeking safety through known and large clients, higher margins and low finance percentages, as well as stringent terms,” Petrofin explained.Furthermore, it has been noted that despite the fact that bank finance is coming down, mainly driven by decline of interest and ability by Western banks to maintain their loan portfolios, the global fleet is expanding.“This results in a lower average bank finance per vessel, and financing of new vessels via a combination of equity, leasing, funds and private individuals’ equity,” Petrofin added.Geographically speaking, banks in Europe have shown consistent decline with Germany, traditionally the biggest lender, falling sharply again this year. Dutch and Scandinavian banks are showing a slowdown as well.The Far East also shows a small fall, primarily due to the dominance of Chinese Leasing in financing new and second hand vessels.With respect to the market outlook for 2018 and beyond, having in mind the slow, and often short-lived recovery rate, especially in the tanker sector, LPG and offshore, Petrofin expects the shipping markets across the board not to be supportive to fresh bank lending.“Loan portfolios of banks have slimmed as a result of vessel sales, write offs, loan sales and normal reductions via repayments. This has been useful for Western banks seeking to contract their lending as a result of capital constraints. The one ray of hope is the US banks who are coming out of the difficult years in a more robust way and whose capital ratios are stronger and which have room to expand,” Petrofin said.What is more, as traditional bank finance has decreased substantially, this has left the medium to small owners relying on own funds and private equity. Nevertheless, some banks are preparing to join ship finance, which seem to cater for the medium to smaller owners, such as Warburg Bank and Maritime and Merchant Bank.“As a general conclusion, we anticipate that over the next couple of years, global shipfinance may form a base. The departure of the previous big lenders, RBS and Commerzbank and the reduction of HSH Nordbank, plus a lot of retrenchment by others, is expected to complete soon. On the other hand, successful banks with a bigger appetite for shipping, such as Credit Suisse, ING, BNP Paribas, ABN Amro and DVB should assist in the above base being formed.“Finally, for the banking sector as a whole, a recovery may only be anticipated when public market conditions shall be able to support fresh capital increases via the  public markets. Such capital for banks would allow them to grow again and it is expected that their interest in shipfinance shall return especially as the available margins are attractive and the clients and loans involved, of a very high level,” the research company said.last_img read more

Syracuse pulls out 4-set road win at Duke

first_img Published on September 28, 2017 at 10:58 pm Contact Anthony: amdabbun@syr.edu Facebook Twitter Google+ Syracuse (10-6, 2-1 Atlantic Coast) defeated Duke (10-4, 2-1) in four sets Thursday night at Cameron Indoor Stadium in Durham, NC. The Orange won both of the opening two sets, 25-17 and 25-18, dropped the third, 25-22, and closed the match out in the fourth with a 25-17 victory.Syracuse was paced by the balanced attack of Anastasiya Gorelina, Ella Saada, and Santita Ebangwese. The three recorded 15, 15 and 10 kills respectively. Jalissa Trotter piled up a season high 43 assists. Belle Sand registered 25 digs on the night. As a team, Syracuse posted a hitting percentage of .304, its second-highest percentage of the season.In the opening set, Syracuse found themselves in a tight battle, up 16-14. After a timeout by head coach Leonid Yelin, the Orange ended the set on a 9-3 run, capping off the set with a kill by Ebangwese. The second set was more of the same, as a late 10-3 run ended a set that was knotted at 15.In the third set, Syracuse appeared to be headed towards a straight set victory, leading 20-17. Then Duke rattled off eight of the next 10 points, closing out the set and capturing the momentum. The Orange turned the tables in the fourth, opening up an 18-6 lead and never looking back. Saada registered six kills in the final set alone, and her 15 for the night was her second highest kill tally of the season.Syracuse continues ACC play on Sunday, as the Orange travel to Wake Forest on Sunday at 1pm.AdvertisementThis is placeholder text Commentslast_img read more