Latest news with #workingcapital
Associated Press
8 hours ago
- Business
- Associated Press
Romios Announces $500,000 Non-Brokered Offering
Toronto, Ontario--(Newsfile Corp. - July 23, 2025) - Romios Gold Resources Inc. (TSXV: RG) (OTC Pink: RMIOF) (FSE: D4R) ('Romios Gold' or the 'Company') is pleased to announce that it is proceeding with a non-brokered private placement of up to 25 million working capital units ('WC Units') priced at $0.02 per WC Unit for up to $500,000 (the 'Offering'). Each WC Unit comprises one (1) common share of the Company priced at $0.02 and one full common share purchase warrant (a 'WC Warrant') entitling the holder to acquire one (1) common share for three years exercisable at a price of $0.05 until two years following the closing of the Offering (the 'Closing') and at $0.06 until the third anniversary of Closing. Funds will be used for exploration and working capital. All securities issued under the Offering are subject to a four month and one day hold period. The transaction is subject to TSX Venture Exchange approval. No funds from the sale of the WC Units will be used for payments for investor relations activities. Up to 20% of the funds raised may be paid to non-arm's length parties for services provided to the Company following the Closing subject to the availability of funds. The funds from the sale of the WC Units will be allocated as to $50,000 to maintain the Company's properties in Nevada and the balance for general working capital. Two insiders of the Company have subscribed for 5,500,000 WC Units for $110,000 and insiders may subscribe for a further 2,000,000 WC Units for a total of up to $150,000 of the Offering. The insider private placements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ('MI 61-101") by virtue of the exemptions contained in sections 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company which will be issued to the insiders will not exceed 25% of its market capitalization. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act'), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction. About Romios Gold Resources Inc.: Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in precious and base metal exploration, focused primarily on gold, copper and silver. The Company holds a 100% interest in the Lundmark-Akow Lake Au-Cu property plus four additional claim blocks in northwestern Ontario and extensive claim holdings covering several wholly-owned porphyry copper-gold prospects in British Columbia's 'Golden Triangle', the most significant of which is the near road-accessible, drill-ready Trek South prospect, considered by many among the best new-to-science, undrilled porphyry prospects in the province. Additional interests include two former producers in Nevada: the Kinkaid claims in the Walker Lane Trend covering numerous shallow Au-Ag-Cu workings over what is believed to be one or more porphyry centres, and the Scossa mine property in the Sleeper Trend which is a former high-grade gold producer. The Company retains an ongoing interest in several properties including a 2% NSR on McEwen Mining's Hislop gold property in Ontario; a 2% NSR on Enduro Metals' Newmont Lake Au-Cu-Ag property in BC, and the Company has signed a definitive agreement with Copperhead Resources Inc. ('Copperhead') whereby Copperhead can acquire a 75% ownership interest in Romios' Red Line Property in BC. For more information, please click here for Romios' website. This news release contains forward-looking statements which are typically preceded by, followed by or include the words 'believes', 'expects', 'anticipates', 'estimates', 'intends', 'plans' or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. For further information, please contact: Kevin M. Keough, CEO - (613) 219-9317 or [email protected] Stephen Burega, President - (647) 515-3734 or [email protected]To view the source version of this press release, please visit
Zawya
8 hours ago
- Business
- Zawya
DP World unlocks $1bln to reshape global trade finance
DP World has announced that it has achieved a major milestone with its key unit - DP World Trade Finance - mobilising over $1 billion in working capital for businesses across emerging markets, thus helping close the global trade finance gap and keeping goods moving through some of the world's most challenging economic environments. This feat was achieved through a combination of DP World's own lending operations and partnerships with more than 32 financial institutions globally - including JP Morgan, Standard Bank, NedBank and more. Their financing solutions, delivered alongside DP World's logistics capabilities, have helped reduce risk and improve access to capital for underserved businesses of all sizes, thus lowering barriers to international trade, said DP World in a statement. The global trade finance gap, estimated at $2.5 trillion, continues to limit opportunities for businesses in developing economies, particularly those without access to traditional financing due to limited credit histories, lack of collateral, or weaker balance sheets that classify them as high risk. By combining trade finance with logistics, DP World offers businesses both funding and real-time visibility into their supply chains, it stated. This integrated model helps lenders make faster, more informed decisions - unlocking capital where it's needed most. The portfolio that DP World Trade Finance handles has also proven to create an very healthy loan book with high quality assets, way better than the industry benchmarks, further reinforcing the effectiveness of this data-driven, integrated approach, said the statement. To date, DP World Trade Finance has enabled trade across Africa, the Americas, Asia, and Europe, supporting sectors including agriculture, metals, automotive, and engineering, it added. On its key achievement, Group Chairman and CEO of DP World, Sultan Ahmed Bin Sulayem said: "The growth of our trade finance business underscores the UAE's role as a catalyst for global trade. By making capital more accessible, particularly in high-potential markets, we are shaping a trade system that is more inclusive and resilient." Sinan Ozcan, the Senior Executive Officer, DP World Trade Finance, said: "Cross-border trade is the engine of global economic growth, but access to affordable finance remains a critical barrier for many businesses, especially SMEs in emerging markets." "Reaching this $1 billion milestone reflects our commitment to changing that. Through DP World Trade Finance, we've created a network that connects businesses with capital, streamlines the financing process and enables trade to flow more consistently on a global scale," he added. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
11 hours ago
- Business
- Zawya
Bank of Africa Group launches working capital platform on Kyriba for 20-country network
DUBAI, United Arab Emirates --(BUSINESS WIRE)-- Kyriba, a global leader in liquidity performance, today announces its collaboration with the Bank of Africa Group. Bank of Africa, one of the largest Pan-African banking groups, has completed the implementation of Kyriba's Working Capital platform to deliver enhanced digitized supply chain finance capabilities across its extensive network serving 20 African countries. The first phase of the project facilitates working capital management for The Group's customers in Morocco with plans to expand to other markets. Bank of Africa has onboarded its first customer, with the aim to bring on several new customers in 2025. This collaboration underscores Kyriba's continued growth in the region and globally, as well as its unmatched receivables and payables finance solutions, dynamic discounting and supplier onboarding. Kyriba's expertise and platform will enable Bank of Africa Group's customers to enhance cash flow, strengthen supplier relationships, and maintain sustainable growth amid economic uncertainties. 'Bank of Africa Group's adoption of Kyriba's Working Capital solution demonstrates their commitment to innovation and underscores our ability to meet the complex needs of financial institutions in today's complex and volatile global economy. As the industry evolves, banks that embrace digitization and automation will be best positioned to lead—modernizing operations, gaining real-time visibility, and delivering more value to clients. Together, we look forward to setting a new standard for innovation and efficiency in African supply chain finance," said John Stevens, Kyriba's Global Head of Capital Markets, Financial Institutions & Working Capital. Kyriba has also seen incredible growth in the volume of working capital financing among both banks and corporates, growing nearly 5X since 2020 and more than doubling the number of invoices uploaded to the platform. This surge highlights the increasing focus on unlocking trapped liquidity and mitigating market volatility through working capital solutions, which can unlock cash flow by accelerating payables and accessing receivables. With over 6,500 employees and a legacy spanning more than a century, Bank of Africa Group is a key financial enabler empowering businesses and enhancing economic opportunities in Africa. 'Kyriba stood out to us for its local expertise, customer-centric approach, comprehensive product offerings, and proven impact delivering working capital efficiency to customers across the continent and world. We are excited to work with Kyriba to unlock new levels of financial insights that can help us optimize working capital and achieve operational success,' said Adil Lahbichi, Executive Director – Global Transaction Banking, Bank of Africa Group. The African supply chain market is poised for rapid growth, driven by increasing demand for working capital optimization. Bank of Africa Group's implementation of Kyriba's platform demonstrates the immense potential for digitized working capital solutions across the region. About Kyriba Kyriba is the global leader in liquidity performance, empowering CFOs, Treasurers and IT leaders to connect, protect, forecast and optimize their liquidity amid economic complexity. As a secure and scalable SaaS solution trusted by 3,000 customers, Kyriba delivers intelligence and financial automation through innovative technologies — including its trusted agentic AI (TAI) — bringing precision, efficiency, and insight to financial operations. With an expansive ecosystem of banking, technology and consulting partners, Kyriba's platform powers more than 3 billion bank transactions and $15 trillion in payments across 9,900+ banks annually – helping companies gain enterprise-wide visibility, ensure financial stability, and outperform their business strategy. About Bank of Africa Group BANK OF AFRICA is a multinational and multi-trade banking group. It was incorporated by Royal Dahir in 1959 under the name of Banque Marocaine du Commerce Extérieur, and has been transformed over more than 60 years to become BANK OF AFRICA since 2020, a universal bank that puts its expertise at the service of innovation, progress and excellence. Thanks to its large banking network on the continent and its international influence, BANK OF AFRICA is determined to take part in the emergence of Africa to make it the continent of the 21st century. Present in 32 countries across Africa, Europe, Asia and North America, BANK OF AFRICA has one of the leading banking groups in Africa, with nearly 2,000 branches. It serves 6.6 million customers worldwide and positions itself as a key economic bridge between Africa and the rest of the world.
Yahoo
16 hours ago
- Business
- Yahoo
What is a merchant cash advance?
Key takeaways A merchant cash advance forwards cash against future sales. MCAs have aggressive repayments that disrupt profitability until it's repaid. Borrowing fees are high with rates of 50 percent to 100 percent or more. According to the 2024 Small Business Credit Survey, business loans and lines of credit are the most commonly sought types of financing by small business owners. For businesses with steady credit or debit card sales, understanding what a merchant cash advance is may reveal a faster, more flexible funding option. A merchant cash advance (MCA) provides a lump sum of capital in exchange for a percentage of future card-based sales, offering quick access to funds with fewer documentation and eligibility requirements than traditional loans. Merchant cash advance loans are also one of the most accessible financing options — 58 percent of applicants received at least partial funding, and 33 percent were fully funded. Although MCAs are easy to get, they are not legally classified as loans, making them exempt from state lending laws, which could mean significantly higher costs. How a merchant cash advance works A merchant cash advance loan forwards payment to your business against future credit or debit card sales. It's typically used to increase working capital for businesses and cover cash flow gaps. The advance works like this: Your business receives the cash. You and the financing company agree to the amount your business needs. The funds are dropped in your business bank account. The financing company charges fees. Instead of an interest rate, MCAs typically charge a factor rate that gets multiplied by the entire loan amount. For example, a $100,000 advance with a factor rate of 1.4 would cost a total of $140,000. Your business repays based on future sales. Repayments are often daily, though some MCAs offer weekly payments. The advance is repaid once you pay the borrowed amount plus the factor rate and any other fees. Lenders that do merchant cash advances Only some lenders offer merchant cash advances, so it's important to compare providers to find the most favorable terms. These lenders offer the best merchant cash advances available: Credibly Lendio PayPal SBG Funding Uncapped Pros and cons of MCAs Pros Approval rates as high as 91 percent High chance of approval for bad credit borrowers Funding within 48 hours Does not require collateral Cons Requires daily or weekly repayments Factor rate fees often cost more and have shorter repayment terms than conventional loans Doesn't help build credit No cap on interest rates, as MCAs are not subject to state usury laws How to refinance merchant cash advances Some MCAs allow you to refinance your cash advance if you need to extend the repayments. The trouble with refinancing is that most MCAs still require you to repay the total borrowing cost from the first advance. If you refinance, the new advance may calculate interest on the first advance's borrowed amount plus fees. You'll then be paying interest on interest, which can trap you in a cycle of debt until you repay the advance in full. How merchant cash advance repayment works Merchant cash advances come with two options for repayment terms: a percentage of your credit card sales or a fixed payment. Most MCAs also keep repayment periods short, typically 18 months or less, depending on the lender. Percentage of credit and debit card sales Most MCAs structure repayments as a percentage of your credit or debit card sales, also known as a holdback. Holdbacks range from 10 percent to 20 percent of sales revenue. Because you're paying a percentage, the exact amount paid to the financing company varies with each repayment. You can estimate your repayment term based on how much you make in sales. The terms may be drawn out if sales dip at any point. Calculating your repayment Let's look at the example of a $100,000 cash advance with a 1.4 factor rate. The total borrowing cost would come to $140,000 ($100,000 x 1.4 = $140,000). If you generate $50,000 in sales each week and pay 20 percent toward the advance, it would take your business 14 months to repay the advance. To calculate the repayment term: Calculate each repayment: $50,000 in weekly sales x .20 (20% holdback) = $10,000 repayment Figure out how long it will take to repay: $140,000 / $10,000 = 14 weeks Fixed withdrawals Some MCAs take fixed withdrawals directly from your business bank account each day or week, similar to a conventional business loan. The fixed amount is calculated from your estimated monthly sales, and you can figure out how long it will take to repay the advance plus borrowing fees. While the repayment term is predictable, you don't have the flexibility to extend it if revenue slows down. Merchant cash advance rates and fees You'll want to take note of the fees listed in the MCA agreement and ask questions if you don't understand the borrowing costs. Merchant cash advance loans subtract these fees upfront. If the MCA charges $1,000 in fees for a $5,000 advance, your business will receive $4,000 in funding. Typical financing fees for MCAs: Factor rates. MCAs may charge factor rates between 1.1 to 1.5, multiplying that rate by the amount you're borrowing. These are typically charged on business loans for riskier borrowers. Origination fee. This fee is charged as a percentage of the borrowed amount and is a common fee for other business loans as well. Underwriting or funding fee. This fee is charged for reviewing the financing application. It may get charged as a percentage of the borrowed amount or a flat fee, depending on the financing company. Administrative fee. This flat fee covers the cost of processing or maintaining the MCA agreement. Factor rate costs Because merchant cash advances charge a factor rate, the cost of borrowing is often higher than other types of business financing, such as a working capital loan. Take the $100,000 cash advance with a factor rate of 1.4 and a 14-month repayment term, for example. If you convert the factor rate into an interest rate, the annual interest rate for the $100,000 advance is 34 percent. By comparison, if you were able to take out a short-term loan for the same amount with a 34 percent APR for one year, you would have more time to pay off your loan. Monthly payments would also be smaller, and you'd pay less in borrowing costs overall. Use a business loan calculator to help you crunch the numbers and see how much more expensive factor rates can be. How to calculate the costs of a merchant cash advance Before taking out a merchant cash advance, it's important to calculate the costs to ensure it's the best fast funding option for your business needs. Let's continue with the example from above and calculate the total cost. When multiplying the $100,000 cash advance by the factor rate of 1.4, you get $140,000, meaning you'll pay $40,000 in fees. Your daily payback amount and time to repay the full amount will vary depending on your sales volume. Let's see how the figures differ for monthly card sales of $50,000, $75,000 and $100,000. $50,000 monthly sales volume $75,000 monthly sales volume $100,000 monthly sales volume Total MCA $140,000 $140,000 $140,000 Monthly payback amount $5,000 $7,500 $10,000 Daily payback amount (30-day month) $166.67 $250.00 $333.33 Effective APR 31.03% 46.54% 62.35% Time for full repayment 840 days or 28 months 560 days or ~18.5 months 421 days or 14 months In this example, a lower sales volume results in a lower payback amount and APR, but it takes longer to repay the debt. Taking your monthly sales volume into consideration and calculating your effective APR can make comparing MCAs to other financing options and their total costs easier. Bottom line Merchant cash advances can help when your business needs cash immediately to cover day-to-day expenses, and nearly any business with card sales can qualify even with bad credit. But its high fees and aggressive repayments may not be ideal for businesses with persistent cash flow problems. If you don't qualify for loans with traditional banks, consider business loans designed for bad credit borrowers, which may offer significantly lower interest rates than MCAs. Frequently asked questions What happens if you default on a merchant cash advance? Merchant cash advances can help businesses having difficulty finding funding, offering the capital needed to cover day-to-day expenses. But if you miss payments and default on the advance, the MCA company can sue you. If it wins in court, it can seize business assets to repay the advance. Can you write off a merchant cash advance? You can typically write off the interest portion of a business loan. While merchant cash advances aren't a loan, you may be able to write off its fees on your annual taxes. Like a business loan write-off, you can't use the advance to invest in business growth. What are some alternatives to merchant cash advances? MCAs can be a good fit for temporary cash flow gaps, but other alternatives may be a less costly solution with longer repayment terms. Here are some alternatives to explore: Term loans Business lines of credit Business credit cards Invoice factoring and financing Business grants What's the difference between a merchant cash advance and a bank loan? Both offer a lump sum of capital, but a merchant cash advance requires repayment based on a percentage of future sales, typically on a daily or weekly basis, which means payments can fluctuate with your card-based sales revenue. A traditional bank loan offers a fixed loan amount with regular installments and a set interest rate over a defined term. MCAs are usually faster and easier to obtain, requiring less documentation, but often come with significantly higher costs than bank loans. Are merchant cash advances illegal? No, merchant cash advances are legal in the United States, but they operate in a legal gray area. They are structured as future receivables purchases instead of loans, so they aren't subject to the same lending laws, including state usury limits. This loophole allows some lenders to charge extremely high fees, making MCAs a costly financing option for many small businesses. Can a merchant cash advance hurt your credit? A merchant cash advance may hurt your credit if it requires a personal guarantee or the lender reports missed payments or defaults to the credit bureaus. Even if not reported, defaulting could lead to collections or legal action, which can negatively affect your credit. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Skipton reappoints Dan Grainger to lead SME growth
Skipton Business Finance has reaffirmed its commitment to supporting small and medium-sized enterprises (SMEs) across the North West with the appointment of Dan Grainger as its new regional sales director. In his new role, Grainger will focus on expanding Skipton's reach by providing working capital to businesses across the region. He will work alongside a trusted network of introducers and brokers, as well as the company's relationship management and risk teams. The appointment marks a return to Skipton for Grainger, who previously worked with the business from 2017 to 2021. He brings with him considerable experience in commercial finance, having held senior positions at institutions including Lloyds Banking Group and Praetura Invoice Finance. Speaking about his return, Grainger said Skipton's 'strong reputation in the market' and plans to enhance its product suite made the decision to come back an easy one. 'I've received such a warm welcome,' he added, 'and it's been great to reconnect with some familiar faces while making new connections. I'm really looking forward to helping even more businesses thrive across the North West.' Jim Furey, Skipton Business Finance's sales director for the North West and Midlands, welcomed Grainger's return, describing him as 'an invaluable asset' to the business. 'Dan's deep understanding of the SME landscape and impressive business development experience make him a strong fit for our growth plans,' said Furey. 'His client-first approach and extensive network align closely with our ethos of building strong, supportive partnerships.' Skipton Business Finance is part of the Skipton Building Society Group and specialises in funding SMEs across the UK. "Skipton reappoints Dan Grainger to lead SME growth" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 登入存取你的投資組合
