tag:blogger.com,1999:blog-9045865350669064515.post1385248049815673916..comments2023-10-24T04:37:49.053-07:00Comments on Ad Absurdum: Muslims get interest free loans from MinneapolisBjorn Watlandhttp://www.blogger.com/profile/05144413933796145344noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-9045865350669064515.post-75927325358988975352012-09-16T00:03:22.692-07:002012-09-16T00:03:22.692-07:00An interest free loan plans, quite good enough. Wi...An <b><a href="http://lizloans.com/best-buy-placed-on-credit-watch-by-sp/" rel="nofollow">interest free loan</a></b> plans, quite good enough. Will it also be offered to non-muslim borrowers someday? I do hope that it will as loan that are interest free are considered a great deal already.Lizhttps://www.blogger.com/profile/14232852826453772104noreply@blogger.comtag:blogger.com,1999:blog-9045865350669064515.post-77451804668018314352011-04-28T15:13:15.817-07:002011-04-28T15:13:15.817-07:00@G.A.M.E.S. I don't think there are any "...@G.A.M.E.S. I don't think there are any "Christian Banks" that offer interest-free loans. I'm sure Muslim banks would let you have a loan. :)Nasir al-Dinhttps://www.blogger.com/profile/17369751011301718949noreply@blogger.comtag:blogger.com,1999:blog-9045865350669064515.post-22502741404999277702011-01-06T21:33:07.823-08:002011-01-06T21:33:07.823-08:00Christians should also be offered interest-free lo...Christians should also be offered interest-free loans because the Bible clearly states to owe no man any debt except love. So as a born-again Christian, how can I get an interest-free loan?G.A.M.E.S.https://www.blogger.com/profile/04253845160498876560noreply@blogger.comtag:blogger.com,1999:blog-9045865350669064515.post-54114839822489681862010-03-11T20:50:55.853-08:002010-03-11T20:50:55.853-08:00Well whatever may be the reason, everyone deserves...Well whatever may be the reason, everyone deserves wedding loans to have the perfect wedding. for more information about <a href="http://www.weddingloans.me.uk" rel="nofollow"> Wedding Loans</a><br /><br />visit <br /><a href="http://www.weddingloans.me.uk" rel="nofollow"> http://www.weddingloans.me.uk</a>Unknownhttps://www.blogger.com/profile/14381304411753497896noreply@blogger.comtag:blogger.com,1999:blog-9045865350669064515.post-3012684635968453352007-09-25T09:27:00.000-07:002007-09-25T09:27:00.000-07:00This is from Bob Lind with Minneapolis:Who is elig...This is from Bob Lind with Minneapolis:<BR/><BR/>Who is eligible for the Alternative Financing program? <BR/><BR/>In the event program funds are not sufficient to meet all eligible applications, priority will be given to businesses unable to expand without the Alternative Financing, and to businesses 1) located in target areas of Minneapolis; 2) benefiting low- to moderate-income persons by creating jobs or improving services; 3) rehabbing or reusing a vacant structure; and 4) whose owner has a personal net worth less than $1 million. The Alternative Financing Program is available to Muslims and non-Muslims alike. <BR/><BR/>All eligible applicants must:<BR/><BR/> * Repay the funds and be an acceptable credit risk (determined by the lender). <BR/> * Comply with the Minneapolis zoning ordinances. <BR/> * Make efforts to hire Minneapolis residents by working with the City’s Workforce Coordinator.<BR/> * Use contractors licensed in Minneapolis.<BR/> * Proceeds cannot be used for billboard advertising. <BR/><BR/><BR/>There's nothing specific about limiting the application to only members of a religious group, or how the system avoids the payment or receiving of interest. Interest is specifically mentioned in the proposal, at a 2% rate of return on a $50,000 cap on each project.Bjorn Watlandhttps://www.blogger.com/profile/05144413933796145344noreply@blogger.comtag:blogger.com,1999:blog-9045865350669064515.post-32059909058515903852007-09-25T06:50:00.000-07:002007-09-25T06:50:00.000-07:00Sure, that is how they would do it at an Islamic b...Sure, that is how they would do it at an Islamic bank, but who knows how Minneapolis is doing it.Bjorn Watlandhttps://www.blogger.com/profile/05144413933796145344noreply@blogger.comtag:blogger.com,1999:blog-9045865350669064515.post-15757740342792690362007-09-25T06:42:00.000-07:002007-09-25T06:42:00.000-07:00I think you probably could get one of those loans ...I think you probably could get one of those loans if you really wanted. But is it a good deal? I some how doubt it or else you might see more of it. <BR/><BR/>I read a bit about some of the "no-interest" structures. It's an interesting system. Wana buy a $5000 car? You go to a bank and ask them to buy it for you. They then sell it back to you for $6000 and you pay them in installments. Once you paid them back, it is yours. If you don't pay them back, they get to keep it because it is theirs in the first place. No late penalties though - not sure how that works.Chris Schommerhttps://www.blogger.com/profile/14951083250383651999noreply@blogger.comtag:blogger.com,1999:blog-9045865350669064515.post-88765216471913167932007-09-25T01:18:00.000-07:002007-09-25T01:18:00.000-07:00As far as I understand, you just pay the interest ...As far as I understand, you just pay the interest up front in a single profit payment, and the loan is available to anyone who wants it, regardless of religion. I don't think it's actually any different to a normal loan, it's just a trick to stay within the letter of Sharia law without actually losing banks money.Ben Dhttps://www.blogger.com/profile/01430188441472807944noreply@blogger.comtag:blogger.com,1999:blog-9045865350669064515.post-26206129395403248572007-09-24T22:12:00.000-07:002007-09-24T22:12:00.000-07:00I wouldn't mind an interest free loan...my non-rel...I wouldn't mind an interest free loan...my non-religion restricts me from receiving traditional interest-based financing...Cat's Staffhttps://www.blogger.com/profile/13937062351509171330noreply@blogger.com