The Writer's Life 7/26 - Capital

Banks have been stingy to small business owners since the start of the financial crisis and the government regulations that followed. A new alternative has arisen -- online lending. In an article in today’s NY Post, Catherine Curan cites Fundation, which charges an initiation fee of 2% and an interest rate of 15% over 2.5 years. Applicants must have a credit score of 660-730 to qualify. So far politicians are not forcing the firm to lend to the unqualified, as they did banks concerning mortgages, which contributed greatly to the financial meltdown. Loans have been approved in ten minutes, the average being $100,000.

Also in the Post, Larry Getlen summarizes a new book: The Richest Man Who Ever Lived by Greg Steinmetz. His name is Jacob Fugger. He died in the early 1500’s. Born to merchants, many consider him the world’s first capitalist. Before him, charging interest on a loan was considered criminal. At one time his wealth was 2% of Europe’s GDP. No one, even in these modern times of incredible wealth, has come close to that figure.

I smelled something funny last night. I found out what it was on my morning walk when I ran into Mike, who was out with his little dog. Recently, the underground wires in one of the buildings of our Atlantic Towers complex were replaced, as the old ones had been corroded by the flood waters of Hurricane Sandy. They caught fire, forcing the evacuation of hundreds onto Avenue Z. Fortunately, the people were allowed to return once the flames had been doused. I’m glad our building wasn’t the first to be revamped.

I took the floating book shop to Park Slope today, setting up on 7th Avenue just off 4th Street, in front of John Jay H.S.. Parking was a snap, so I will return next Sunday. If I'd been patient, I would have snared the idle spot right at my back. Then again, I might not have sold any books if I had, as Alice and her husband filled that space and bought A Hitch in Twilight, the only sale of the session. My thanks.

Vic's 5th Novel: http://tinyurl.com/okxkwh5Vic's 4th novel: tinyurl.com/bszwlxh

Vic's 3rd Novel: http://tinyurl.com/7e9jty3

Vic's Short Story on Kindle: http://tinyurl.com/k95k3nx
Vic's Short Story Collection: http://www.tiny.cc/Oycgb
Vic's 2nd Novel: http://tiny.cc/0iHLb Kindle: http://tinyurl.com/kx3d3uf
Vic's 1st Novel: http://tinyurl.com/l84h63j

Vic's Rom-Com Screenplay: http://tinyurl.com/kny5llp

Vic's Horror Screenplay: http://tinyurl.com/cyckn3f

Vic's Blog: http://vicfortezza.blogspot.com/

Vic's Web Site: http://members.tripod.com/vic_fortezza/Literature/