Bank of Canada rate
The Bank of Canada raises its base rate by 0.25% effective January 18, 2018.
A little banking humor! His name was Boudreaux…
His name was Boudreaux. He was from Cutoff, Louisiana … and he needed a loan, So……..
He walked into a bank in New York City and asked for the loan officer.
He told the loan officer that he was going to Paris for an International Cajun festival for two weeks and needed to borrow $5,000, and that he was not a depositor of the bank.
The bank officer told him that the bank would need some form of security for the loan, so Boudreaux handed over the keys to a new Ferrari. The car was parked on the street in front of the bank.
Boudreaux produced the title and everything checked out. The loan officer agreed to hold the car as collateral for the loan and apologized for having to charge 12% interest.
Later, the bank’s president and its officers all enjoyed a good laugh at the Cajun from Louisiana for using a $250,000 Ferrari as collateral for a $5,000 loan. An employee of the bank then drove the Ferrari into the bank’s private underground garage and parked it.
Two weeks later, Boudreaux returned, repaid the $5,000 and the interest of $23.01. The loan officer said, “Sir, we are very happy to have had your business, and this transaction has worked out very nicely, but we are a little puzzled.”
“While you were away, we checked you out on Dunn & Bradstreet and found that you are a distinguished alumni from LSU, a highly sophisticated investor and multi-millionaire with real estate and financial interests all over the world. Your investments include a large number of oil rigs around south Louisiana. What puzzles us is, why would you bother to borrow $5,000?”
The good ‘ole boy replied, “Where else in New York City can I park my car for two weeks for less than $25.00 and expect it to be there when I return?”
His name was Boudreaux…. Keep an eye on those Louisiana boys!
Just!! cuz we talk funny doesn’t mean we’re stupid !
New Margill Loan Manager client: Cosmo Authentic World Kitchen
We would like to welcome Cosmo Authentic World Kitchen as a new user of our Margill Loan Manager software.
Inspired by the best five-star hotels around the world, Cosmo has expanded throughout the UK and Ireland. Their customers embrace global dining and flavours from all corners of the world. To learn more about their restaurants and great food, visit their website.
The Margill Team
New Margill Loan Manager client: Strada Education Network
We would like to welcome Strada Education Network as a new user of our Loan Servicing Software, Margill Loan Manager.
Strada is a non-profit organization that works to help students through their education path. They offer many different types of solutions to improve student outcomes in higher education and facilitate successful career transitions.
More information on Strada Education Network website.
For more testimonials, please visit: Client Testimonials
The Margill Team.
Margill Loan Manager version 4.3 now available for download
Testing and tweaking is now a thing of the past. Version 4.3 of Margill Loan Manager is now available to download in our Download Center
To see the full list of new features, please visit our Release Notes.
We are already working on Version 4.4, which should be released in late October 2017.
The Margill Team.
Margill Law Interest Calculator – Washington Interest Rate
To all Margill Law Interest Calculator users, we have updated the 4.56.110(3)(b) interest rate table to correct the error discovered.
In March 2017, while reporting the Historical Judgement Rates to the Office of the Code Reviser, they discovered an error in the rate from February 2016 through March 2017.
If you want the latest version, please update your interest tables.
The Margill Team
Margill Loan Manager – Version 4.3 User Guide now available
Consult the new User Guide for the Margill Loan Manager – Version 4.3 here.
New Margill Loan Manager client in South Africa
We already mention on our website that we sell in 38 countries, but it is always interesting to see our software at work overseas.
Its flexibility and powerful mathematics make our Loan Servicing Software useful for our new client in South Africa, Forward Finance.
Welcome from the Margill team!
For more testimonials: https://www.margill.com/en/client-testimonials/