Your lender may also help you get interest-free loans from HUD to get you current.
He also urged the government to introduce interest-free loans for rural businesses damaged by the epidemic, notably the tourist industry.
The world's poorest countries rely mainly on interest-free loans or grants made through the International Development Association (IDA), an arm of the bank.
ECONOMIST: As the IMF gets richer, will the poor get a raw deal yet again?
The government is ready to consider a raft of measures, from interest-free loans to cash incentives for developers willing to build affordable housing on mixed-use sites.
Another site, the non-profit Kiva.org, is also social in nature, but instead of donations to charities, it lets you make interest-free loans to entrepreneurs in developing countries.
Further, what if any return below 6% is made up by "interest-free loans" given by the venture to the investor, that may be paid back solely from subsequent profits that exceed the 6% mark?
He did not take issue with sales per se, nor interest-free loans per se, but felt that Islamic finance did not permit them to be combined and qualified in a manner that clearly thwarted Islamic finance's central requirement of profit sharing.
The feds claimed the maker of Claritin, in a price war with the producer of the competing drug Allegra, gave concealed discounts to Cigna and PacifiCare Health Systems in the form of "data processing fees, " interest-free loans and "risk share" rebates tied to growth in an insurer's outlays for antihistamine-like drugs.
Recently, a premier Islamic finance scholar, Mohammed Taqi Usmani, declared some aspects of sukuk to be un-Islamic, specifically the buyback at cost and the interest-free non-recourse loans.
Combine these elements--equity, interest free loans, rewards and sales--any one of which on its own is absolutely not controversial under Islamic law, and, it is argued, the "letter" of Islamic finance has been followed.
Sounds great, but the accountant failed to mention this important caveat: The IRS says you cannot deduct interest on loans used for tax-free investments.
Even those that are nominally independent can obtain loans that are virtually interest-free from state-owned banks.
Spain was unable to borrow the maximum 3.5bn euros it wished to do - and investors ended up demanding the Spanish government pay an expensive 5% interest rate for supposedly risk-free 12-month loans (Belgium too didn't sell the maximum debt on offer).
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