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Personal loans for non-U.S. citizens: What you need to know

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own.

Lenders that offer loans for non-U.S. citizens typically require a valid work visa and proof of employment. (iStock)

Moving to a new country and establishing residency there can be expensive. Covering the cost of travel, housing, and setting up your life in the United States can quickly deplete your savings account or force you to go into debt.

Personal loans can be a good option to cover some of these expenses or consolidate other high-interest debts, but for noncitizens in the U.S., getting a personal loan can be difficult. 

Lenders may worry that non-U.S. citizens will leave the country without paying, leaving the lender on the hook if they don’t repay the loan. Some lenders also shy away from providing loans to Deferred Action for Childhood Arrivals (DACA) recipients because the laws could change at any time, and the DACA recipient could be deported, leaving the bank unable to recover its money.

Despite this hesitancy, it’s possible for noncitizens to take out a loan in the United States. Here’s what you need to know about personal loans for non-U.S. citizens. 

With Credible, you can compare personal loan rates from multiple lenders in minutes.

Can I get a personal loan as a non-U.S. citizen?

Non-U.S. citizens can get personal loans. But not all financial institutions and lenders offer loans to noncitizens, and the requirements vary by lender.

Some lenders require a high credit score, while some don’t have a minimum credit score, instead looking at other factors, such as your income and education.

11 best lenders that offer personal loans to non-U.S. citizens

Not all lenders offer personal loans to non-U.S. citizens, but some do. The following 11 lenders are Credible partners.

Axos Bank

Axos Bank doesn’t charge a prepayment penalty, so it’s a good option for borrowers who want to pay off their personal loans early.

  • Loan amounts: $5,000 to $35,000
  • Loan terms: 1 to 5 years
  • Minimum credit score: 740
  • Time to fund: As soon as the next business day
  • Best for: Fast loan funding

Best Egg

Best Egg personal loans are available in all states except Iowa, Vermont, West Virginia and the District of Columbia.

  • Loan amounts: $2,000 to $50,000
  • Loan terms: 2 to 5 years
  • Minimum credit score: 600
  • Time to fund: As soon as 1 to 3 business days after successful verification
  • Best for: Credit card refinancing or debt consolidation

Discover 

Discover offers personal loans for a variety of uses, including auto repair, credit card refinancing and debt consolidation. 

  • Loan amounts: $2,500 to $35,000
  • Loan terms: 3 to 7 years
  • Minimum credit score: 660
  • Time to fund: As soon as the next business day after acceptance
  • Best for: Longer repayment terms

FreedomPlus

FreedomPlus doesn’t have a minimum income requirement for personal loan applicants.

  • Loan amounts: $10,000 to $50,000
  • Loan terms: 2 to 5 years
  • Minimum credit score: Does not disclose
  • Time to fund: As soon as 2 business days
  • Best for: Larger loan amounts

LendingClub

LendingClub offers peer-to-peer lending, matching borrowers with investors who lend money.

  • Loan amounts: $1,000 to $40,000
  • Loan terms: 3 or 5 years
  • Minimum credit score: 600
  • Time to fund: Usually about 2 days
  • Best for: Borrowers with a low debt-to-income ratio

LendingPoint

With a minimum credit score requirement of 580, LendingPoint makes personal loans available to applicants with less-than-perfect credit.

  • Loan amounts: $2,000 to $36,500
  • Loan terms: 2 to 4 years
  • Minimum credit score: 580
  • Time to fund: As soon as the next business day
  • Best for: Borrowers with lower credit scores

Marcus

Marcus has a higher minimum credit score but allows you to defer a monthly payment after making 12 on-time payments.

  • Loan amounts: $3,500 to $40,000
  • Loan terms: 3 to 6 years
  • Minimum credit score: 660
  • Time to fund: As soon as 3 days
  • Best for: Borrowers who want tailored monthly payment options

PenFed

PenFed offers personal loans to applicants with good to excellent credit.

  • Loan amounts: $600 to $50,000
  • Loan terms: 1 to 5 years
  • Minimum credit score: 660
  • Time to fund: 2 to 4 business days after verification
  • Best for: Small loan amounts

SoFi

SoFi offers large personal loans to borrowers with high credit scores.

  • Loan amounts: $5,000 to $100,000
  • Loan terms: 2 to 7 years
  • Minimum credit score: Does not disclose
  • Time to fund: 3 business days
  • Best for: Borrowers with excellent credit

Upgrade

In addition to fast funding for its personal loans, Upgrade offers free credit monitoring.

  • Loan amounts: $1,000 to $50,000
  • Loan terms: 2 to 7 years
  • Minimum credit score: 560
  • Time to fund: Within a day of clearing necessary verifications
  • Best for: Borrowers who are building credit

Upstart

Upstart is a good option for borrowers with below-average or no credit because the lender considers other factors, such as education and job history, as part of overall eligibility.

  • Loan amounts: $1,000 to $50,000
  • Loan terms: 3 to 5 years
  • Minimum credit score: 580
  • Time to fund: As soon as 1 business day
  • Best for: Borrowers with a strong work or education history

Check out Credible to compare personal loan rates from various lenders and find the right one for you.

Other lenders to consider

The following two lenders are not Credible partners, so you won’t be able to easily compare your rates with them on the Credible platform. But they may also be worth considering if you’re looking for a personal loan as a non-U.S. citizen.

Earnest

Earnest can match you with loan options in less than 60 seconds.

  • Loan amounts: $1,000 to $250,000
  • Loan terms: 6 months to 12 years
  • Minimum credit score: Does not disclose
  • Time to fund: Does not disclose
  • Best for: Longer repayment terms

Stilt

Stilt specializes in personal loans for immigrants and other underserved markets and doesn’t require applicants to have a Social Security number or credit history.

  • Loan amounts: $1,000 to $35,000
  • Loan terms: 1 to 3 years
  • Minimum credit score: None
  • Time to fund: As soon as the next business day
  • Best for: Borrowers with no Social Security number

Methodology

Credible evaluated the best personal loan lenders based on factors such as customer experience, minimum fixed rate, maximum loan amount, funding time, loan terms, and fees. Credible’s team of experts gathered information from each lender’s website, customer service department, and via email support. Each data point was verified to make sure it was up to date.

What are the eligibility requirements for loans for non-U.S. citizens?

The exact requirements for personal loans for non-U.S. citizens vary by lender. Some common eligibility guidelines include:

  • U.S. residence
  • A U.S.-based bank account and U.S.-based phone number
  • A green card or valid work visa (E-2, E-3, H-1B, J-1, L1, or O-1)
  • Proof that you’re currently employed or have accepted a job offer
  • U.S. credit history or credit history in your home country
  • Proof of on-time payments on a mortgage, rental, or utilities in the U.S.

What will I need for my application?

You’ll need specific documents and information when applying for a personal loan as a non-U.S. citizen. While the exact documentation requirements vary by lender, at a minimum, you may need to provide:

Personal information

You’ll need to provide some basic personal information to apply for a personal loan, including your name, date of birth, physical address, email, phone number, Social Security number (or Individual Taxpayer Identification Number), employer, and income.

You may also need to provide documentation to confirm this information, such as a utility bill to verify your address, a copy of your valid driver’s license or other government-issued identification, and copies of bank statements and tax returns.

Credit check

Lenders typically check your credit score, even if you don’t have a U.S. credit score or a Social Security number. 

Proof of income

The lender will usually ask for specific paperwork to verify the income information included on your loan application, such as a copy of your recent pay stubs.

Loans for non-U.S. citizens FAQs

If you’re getting ready to apply for a personal loan, you likely have a million questions running through your head. To help you out, here are the answers to some common questions about personal loans for non-U.S. citizens.

What types of personal loans can I apply for as a non-U.S. citizen?

Lenders offer personal loans for many different uses. For example, you may be able to get a personal loan to consolidate other debts, make home improvements, cover auto repairs or medical bills, start a business, or make a large purchase. Be sure to check that your lender offers funds for your needs before you accept the loan.

Can I get a personal loan without a Social Security number?

Yes. Lenders that work with non-U.S. citizens know that most noncitizens aren’t eligible for a Social Security number. Instead, lenders may require you to have an Individual Taxpayer Identification Number, which is a tax-processing number assigned by the IRS to certain nonresidents and resident aliens.

Can a nonresident get a personal loan?

Personal loans are typically only available to nonresidents who plan to stay and work in the U.S. longer than their loan’s term. If you don’t plan on staying in the U.S. that long, lenders likely won’t approve your application.

Also, expect the lender to require documentation supporting your continued employment and income, such as your employment authorization form, details on your visa, and an employment contract.

How much can non-U.S. citizens borrow?

The amount you’re able to borrow depends on your unique financial situation, but Credible’s partners offer personal loans of up to $100,000 to non-U.S. citizens. If you can’t qualify for that much on your own, you may be eligible to borrow a larger amount with a cosigner who has good or excellent credit.

Do I need a cosigner?

Whether you need a cosigner depends on your unique financial circumstances and the lender’s requirements. Some lenders don’t require a cosigner, while some lenders require borrowers without a valid visa to apply with a cosigner with good to excellent credit and who’s a U.S. citizen or permanent resident. Other lenders may only require a cosigner if you don’t have a good credit history or don’t earn enough income to qualify independently.

Applying with a cosigner could benefit you if it helps you qualify for lower interest rates.

If you’re ready to apply for a personal loan, visit Credible to easily compare personal loan rates.

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Tucker Carlson’s ‘Patriot Purge’ Special Leads Two Fox News Contributors to Quit

For his part, Mr. Goldberg said he has been thinking about William F. Buckley, the late founder of National Review, who saw as part of his mission “imposing seriousness on conservative arguments” and purging some extreme fringe groups, including the John Birch Society, from the right.

“Whether it’s ‘Patriot Purge’ or anti-vax stuff, I don’t want it in my name, and I want to call it out and criticize it,” Mr. Goldberg said. “I don’t want to feel like I am betraying a trust that I had by being a Fox News contributor. And I also don’t want to be accused of not really pulling the punches. And then this was just an untenable tension for me.”

Now, their views have put them outside the current Republican mainstream, or at least outside what mainstream right-wing institutions and politicians are willing to say out loud. But while in recent years both appeared occasionally on the evening show “Special Report” and on “Fox News Sunday,” which the network classifies as news, it’s been years since they were welcome on Fox’s prime time, and Mr. Goldberg clashed bitterly with the prime-time host Sean Hannity in 2016. (Mr. Hayes and Mr. Goldberg emailed their readers Sunday to announce their departure.)

Despite the former contributors’ hopes, Fox’s programming has hewed to Mr. Trump’s line, as have its personnel moves. The network, for instance, fired the veteran political editor who accurately projected Mr. Biden’s victory in the key state of Arizona on election night, and has hired the former Trump White House press secretary Kayleigh McEnany.

Mr. Hayes and Mr. Goldberg are the first members of Fox’s payroll to resign over “Patriot Purge,” but others have signaled their unhappiness. Geraldo Rivera, a Fox News correspondent since 2001, captured the difficulty of internal dissent at the network when he voiced cautious criticism of Mr. Carlson and “Patriot Purge” to my colleague Michael Grynbaum. “I worry that — and I’m probably going to get in trouble for this — but I’m wondering how much is done to provoke, rather than illuminate,” he said.

On air, two programs with smaller audiences than Mr. Carlson’s scrambled after his special to rebut the false theories presented in “Patriot Purge.” “Special Report” called in a former C.I.A. officer on Oct. 29 to debunk “false flag” theories. And on “Fox News Sunday,” Chris Wallace turned the same question over to one of Mr. Trump’s few foes in the Republican congressional delegation, Representative Liz Cheney of Wyoming.

Mr. Carlson called Mr. Hayes’s and Mr. Goldberg’s resignations “great news” in a telephone interview on Sunday. “Our viewers will be grateful.”

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Three Tips For Business Leaders Navigating A New Normal

CIC Delivery Leader at IBM – ROW 

The raging pandemic is showing signs of ebbing in some countries but in others, it continues to peak. The world is opening up within small windows. So, in the current situation, how should projects be handled and delivered? This is my second article along similar lines but with more insight into current events and the best ways forward.

Online classes, meetings, conferences and webinars are still ruling the roost. There are bountiful features now available in online meeting applications that help make it more secure, reliable, safe, fast and economical. Travel is slowly starting up again, but some companies may still be wary of traveling, noting the time and costs involved. 

Big IT companies are opening up their offices for senior and leadership employees once or twice a week to gauge the readiness and preparedness of coming back to the office for their entire staff. Precautions like proof of vaccination, face masks, social distancing and a sanitized environment are being carried out. Still, the threat of infection lingers on and is preventing any fast decision to return fully to office. The operating models of many IT companies have changed and a new working model is in place. This has been mostly successful and the impact on the business and operations due to Covid-19 has been very minimal. Some of these changes in the operating model are bound to stay forever now.

From the employees’ viewpoint, they have become accustomed to working remotely, and not necessarily from home. Many would prefer to continue this same way rather than maneuver in the dense traffic and eat meals out. I see a mindset already in place for many employees to continue working remotely as much as possible. Many people have benefited from less stress and better habits in absence of a commute and long days at an office. This can have a rippling effect on multiple professions who are dependent on business from this segment of workers.

It must be noted, many of the retail, telecom, energy, construction, travel and hospitality companies are struggling to survive and many of them have already closed. There is an eagerness as well as a hunger to bounce back to get more business. On the contrary, food delivery vendors as well as big retailers like Amazon and Flipkart have come out with innovative ways to deliver goods and services.

The entertainment industry which had taken a major hit is bouncing back with innovations. Leaders like Netflix and Amazon Prime are grabbing this space and creating new business models to survive. But it is yet to be seen how successful these are over a period of time. Some industries and activities after this pandemic are never to return. Some will return in a new form, and some are waiting for the pandemic to get overlying low.

There are a few instances I would like to highlight below which have chartered new territories in working remotely. A news report coming from the PWC company has stated that 40,000 of its U.S. workforce are asked to permanently work remotely and never to return to the office. This new policy will impact professionals across client services, including consultants, auditors and tax professionals. The firm claims the move is the first among professional services firms to offer a permanent work-from-anywhere policy moving forward.

Another startup company in India, “Slice,” has offered a unique proposition to aspiring job seekers. They are offering a three-day work week with 80{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} of the current payout. The remaining days are available to them to follow their passions and other activities.

For business leaders continuing to plan amid uncertainty, there are a number of measures to consider in planning for the future. I and my team have undertaken many of them in response to the many changes brought on by the pandemic.

Flexible Working Options

One potential solution is to make remote work optional. This allows freedom, especially for those who cannot come into the office for medical or other reasons. You can also consider a partially remote setup. For example, employees can come into the office on three alternating days during the week with the rest of the time spent working from home. This would work for departments like operations, sales, HR and some projects which require strict access controls to be in place. The third option is complete remote work. Extend the fully remote option to employees whose presence is not required in the office. There are many projects that do not need a physical presence in the office to execute the work.

Modified Benefits Plan For Employees

Consider updating your benefits plan to include a wider range of services. This could include reimbursement of internet, mobile phone, power back-up equipment, and more.

Employee Connection

It can also be helpful to renew efforts to foster employee connection. This could look like a remote work lunch session. I have used this for many of my meetings. Employees prepare their own food or it is ordered online and delivered to each home.

Virtual birthday/milestone achievement sessions with a surprise gift delivered home is another way to keep up connections.

I and my team have implemented many of the above policies and have seen lower attrition levels, higher motivation from employees, and a generally happier state of mind from the team.

Is there an end of this dark tunnel of pandemic anywhere in sight? There seems to be, but it’s impossible to know for sure. Another variant or some other global threat is always a possibility. Times are changing and so are the demands. It is not very far away when I can confidently say “Work will not matter enough.”

Forbes Business Development Council is an invitation-only community for sales and biz dev executives. Do I qualify?

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Houlihan Lokey Continues Expansion of Its Global Business Services Group With Senior European Hires | News

LONDON–(BUSINESS WIRE)–Nov 23, 2021–

Houlihan Lokey (NYSE:HLI), the global investment bank, announced today several senior appointments to significantly build the firm’s global Business Services Group’s presence in Europe.

James Ireland joins Houlihan Lokey as a Managing Director and brings more than two decades of experience advising clients on both public and private M&A transactions as well as debt and equity capital raises in Europe. He joins from RBC Capital Markets, where he was Head of European Business Services. Prior to RBC, he worked within Citigroup’s Global Industrials Group, focusing on the services and construction sectors. He began his career with Coopers & Lybrand (now PwC) and is a qualified Chartered Accountant (ACA).

Guy Mullin-Henderson has joined Houlihan Lokey as a Senior Advisor to the Business Services Group in Europe. He has an investment banking career spanning more than 35 years, including 11 years as a Managing Director at RBC Capital Markets, where he successfully established the bank’s Business Services practice, and 11 years as a Managing Director at Rothschild, where he was Global Head of Business Services. Mr. Mullin-Henderson began his investment banking career at Baring Brothers in 1985.

James Sutch joins Houlihan Lokey as a Director with more than 15 years of experience across the business services sector. Mr. Sutch joins from RBC Capital Markets and previously worked in the Business Services teams at Rothschild and PwC Corporate Finance. He is a qualified Chartered Accountant (ACA).

The Business Services Group has been further strengthened with the addition of a team of 11 outstanding financial professionals through the firm’s recent acquisition of GCA Altium, headed by Managing Directors Oliver Vaughan in London and Axel Bauer in Munich, Directors Arthur Callaghan in London, Tom Battersby in Manchester, Sebastian Weindel in Munich, and Senior Vice President Timo Maier in Munich.

“We are delighted to welcome such an experienced and talented group to our global Business Services Group. Our success to date has been built on a combination of strong teamwork, unrivalled industry knowledge, and a fierce commitment to client service. As all of our new colleagues share these cultural attributes, we are confident that all will make huge contributions to the Group and our clients in Europe, working alongside Managing Director Jon Harrison,” said Larry DeAngelo, Global Head of Houlihan Lokey’s Business Services Group.

“At Houlihan Lokey, our Corporate Finance business is undergoing an unprecedented period of growth, adding further strength and depth to our global industry teams, and we believe it is that focus on sector excellence that sets us apart from the competition. Our Business Services Group has established itself as the leader in its field in the US, and our aim is to repeat that success in Europe. We are excited by the addition of this outstanding group of seasoned advisors to the firm,” commented Scott Adelson, Co-President of Houlihan Lokey.

With more than 90 industry-dedicated professionals across the firm’s global network, including now 25 in Europe, Houlihan Lokey’s Business Services Group provides superior service and achieves outstanding results for its clients in M&A advisory, capital raising, restructuring, and valuation. The Group has advised on more than 70 transactions over the past 12 months across every key global region.

About Houlihan Lokey

Houlihan Lokey (NYSE:HLI) is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and valuation. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, the Middle East, and the Asia-Pacific region. Independent advice and intellectual rigor are hallmarks of the firm’s commitment to client success across its advisory services. Houlihan Lokey is the No. 1 M&A advisor for the past six consecutive years in the U.S., the No. 1 global restructuring advisor for the past seven consecutive years, and the No. 1 global M&A fairness opinion advisor over the past 20 years, all based on number of transactions and according to data provided by Refinitiv.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211123005630/en/

CONTACT: Investor Relations

212.331.8225

IR@HL.comMedia Relations

Richard Creswell

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KEYWORD: UNITED KINGDOM EUROPE

INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE

SOURCE: Houlihan Lokey

Copyright Business Wire 2021.

PUB: 11/23/2021 03:00 AM/DISC: 11/23/2021 03:02 AM

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Delaware Department of Education, DuPont and Discovery Education Launch First-of-Its-Kind Partnership Supporting STEM, Career, and Technical Education Statewide

DOVER, Del. –News Direct– DuPont

DOVER, Del., Nov. 22, 2021 – The Delaware Department of Education (DDOE), DuPont (NYSE: DD) and Discovery Education today announced a new, first-of-its-kind partnership that will increase student access to high-quality STEM (Science, Technology, Engineering, and Mathematics) instructional resources, as well as instructional materials and other supports to enhance career and technical education programs across the state. The three-year partnership program directly supports the Delaware Pathways initiative — an innovative effort helping students develop the academic, technical, and employability skills needed for successful, in-demand jobs across Delaware.

“Acquiring academic knowledge, technical skills, and meaningful work experience gives students the freedom to choose their life’s path,” said Delaware Secretary of Education Susan Bunting. “This new partnership provides Delaware students an even better opportunity to develop the skills needed for the careers of tomorrow. Thus, I look forward to supporting the progress of this exciting new collaboration.”

“Connecting what is being taught in the classroom to Delaware employers is critical,” said Luke Rhine, Director, Career & Technical Education and STEM Initiatives at the Delaware Department of Education. “The resources provided through this partnership will support middle school and high school teachers as they build bridges between classrooms and careers for all students. We are thankful for partners like DuPont who share our goals related to STEM- and career-focused education.”

DuPont is committed to making a meaningful difference in the lives of people everywhere, inspiring and cultivating the next generation of problem solvers, innovative thinkers, and lifelong learners that fuel discovery. Through this partnership, DuPont is taking a leadership role helping to develop a stronger, more diverse, equitable and inclusive talent pipeline to fill critically needed STEM jobs across the U.S. This partnership also builds on the company’s long-standing support of increasing access to STEM education programs that provide hands-on, inquiry-based learning in elementary to post-doctoral classrooms, and the professional learning needed for educators to make these efforts possible.

“DuPont is proud to fully fund this new initiative benefiting the Delaware communities we call home,” said Jon Kemp, President, DuPont Electronics & Industrial. “Together with the Delaware Department of Education and Discovery Education, we are creating not only more equitable learning environments in which all students have access to the resources and experiences they need to succeed in the classroom and beyond, but also a deeper, more diverse pool of talent that will drive economic prosperity across Delaware. We are excited to get started on this important work!”

Supporting this partnership is Discovery Education’s K-12 daily learning platform. Facilitating engaging instruction in the classroom, remote environment, after school programs or wherever learning is taking place, Discovery Education connects students and teachers to a vast collection of high-quality, standards-aligned content, ready-to-use digital lessons, and more. These resources, sourced from trusted partners are made available to Delaware’s educators and students through Schoology, which is the statewide learning management system, and are aligned to state and national standards to help educators bring the outside world into teaching and learning every day.

As part of this new partnership, Delaware’s educators will also receive ongoing professional learning designed to help them realize the return on this education technology investment and connect them to the broader Discovery Education Community. This global community of education professionals connects members in school systems and around the world through social media, virtual conferences, and in-person events, fostering valuable networking, idea sharing, and inspiration.

DuPont’s support of Delaware Pathways is part of its commitment as the newest member of the STEM Careers Coalition (SCC). The Coalition unites a range of industries around the common goals of empowering educators to teach STEM effectively in the classroom, fostering and promoting quality education, and building the next generation of STEM solution-seekers with an intentional focus on fostering and improving racial and gender equity. The STEM Careers Coalition seeks to prepare 10 million students for the future of work by 2025 through equitable access to digital content and experiences that engage students in instruction, build foundational STEM knowledge, and develop the critical skills students need for college and career success.

“Discovery Education looks forward to collaborating closely with the Delaware Department of Education and DuPont on this exciting new initiative benefiting all middle school and high school students across the state,” said Scott Kinney, Discovery Education’s Chief Executive Officer. “Together, we are providing the resources that Delaware’s teachers need to provide students personalized learning pathways to fulfill their educational goals and career aspirations.”

Delaware educators can find out more about accessing the new resources available through this partnership by emailing deleducators@Discoveryed.com.

About DuPont

DuPont (NYSE: DD) is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, healthcare and worker safety. More information about the company, its businesses and solutions can be found at www.dupont.com. Investors can access information included on the Investor Relations section of the website at investors.dupont.com.

About Discovery Education

Discovery Education is the worldwide edtech leader whose state-of-the-art digital platform supports learning wherever it takes place. Through its award-winning multimedia content, instructional supports, and innovative classroom tools, Discovery Education helps educators deliver equitable learning experiences engaging all students and supporting higher academic achievement on a global scale. Discovery Education serves approximately 4.5 million educators and 45 million students worldwide, and its resources are accessed in over 140 countries and territories. Inspired by the global media company Discovery, Inc., Discovery Education partners with districts, states, and trusted organizations to empower teachers with leading edtech solutions that support the success of all learners. Explore the future of education at www.discoveryeducation.com.

About Delaware Pathways

Delaware Pathways is an education to employment partnership, connecting young people and employers. The program currently serves more than 55 percent of all youth in grades 9 to 12 across the State of Delaware offering young people the opportunity to earn college credit, industry recognized credentials, and relevant work experiences through in-demand career pathways that connect k12, higher education, and the workforce. The initiative is also working to expand the state’s registered apprenticeship system through youth apprenticeship models and is working with higher education partners to expand credential and degree opportunities for youth and adult learners. The program centers student identity and empowerment within the context of a high-quality education system, caring community partners, and dedicated employers. For more information please visit: https://delawarepathways.org/.

# # #

DuPont™, the DuPont Oval Logo, and all trademarks and service marks denoted with ™, SM or ® are owned by affiliates of DuPont de Nemours, Inc. unless otherwise noted.

11/22/21

Media Contacts:

Stephen WakefieldDiscovery Education(202) 316-6615swakefield@discoveryed.com

Dan TurnerDuPont(302) 299-7628daniel.a.turner@dupont.com

Alison MayDelaware Department of Education(302) 735-4006alison.May@doe.k12.de.us

View additional multimedia and more ESG storytelling from DuPont on 3blmedia.com

View source version on newsdirect.com: https://newsdirect.com/news/delaware-department-of-education-dupont-and-discovery-education-launch-first-of-its-kind-partnership-supporting-stem-career-and-technical-education-statewide-668540490

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Sweden’s Ericsson snaps up cloud firm Vonage in $6.2 bln deal

  • Ericsson to buy Vonage for $6.2 bln
  • Deal one of the largest in Ericsson’s history
  • Ericsson shares fall 3.8{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}

STOCKHOLM, Nov 22 (Reuters) – Ericsson (ERICb.ST) on Monday agreed to buy cloud communications firm Vonage (VG.O) in a $6.2 billion all-cash deal, as the telecom gear maker moves to broaden its 5G portfolio.

The deal, one of the largest in Ericsson’s history, follows its $1.1 billion purchase of Cradlepoint last year which gave it access to tools that can connect devices using the so-called Internet of Things over a 4G or 5G network.

U.S-based Vonage makes Application Programming Interface (API), which helps different software communicate with each other.

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“Vonage is complementary to what we have built in enterprise so far … Cradlepoint was one of the big stepping stones as well in building an enterprise presence,” Ericsson CFO Carl Mellander told Reuters.

Ericsson will pay $21 for each outstanding Vonage share, a 28{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} premium to Friday’s closing price and a 34{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} premium to the average of the last 3 months, a price analysts said was high.

Ericsson shares fell 3.8{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} in early trade, on track for their worst day since July and the worst performer on the pan-European STOXX 600 index (.STOXX).

“We see this acquisition as strengthening Ericsson’s vertical integration and product offering within the cloud space, but we also deem the price-tag quite steep,” said Danske Bank Credit Research analyst Mads Rosendal.

Vonage, which operates across sectors such as healthcare, finance, education and transportation, had sales of $1.4 billion in the 12-month period to Sept. 30, 2021, with a margin on adjusted earnings before interest, tax and depreciation of 14{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} and free cash flow of $109 million.

It has more than 1 million registered developers and more than 120,000 business customers.

“That’s where magic happens when developers use the Vonage platform to create applications for various enterprises,” Mellander said.

The acquisition marks a new phase after a period of restructuring and refocusing since Borje Ekholm took over as CEO in 2017.

Ericsson had branched out into multi-media in the early 2000s but struggled to fit its purchases into its operations, weighing on margins and profits.

“The transaction builds upon Ericsson’s stated intent to expand globally in wireless enterprise, offering existing customers an increased share of a market valued at $700 billion by 2030,” Ericsson said in a statement.

It said it expected the Vonage deal to boost earnings per share – excluding non-cash amortisation impacts – and free cash flow from 2024 onwards.

The deal is expected to close in the first half of 2022, subject to Vonage shareholder approval, regulatory approvals, and other conditions.

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Reporting by Simon Johnson, Supantha Mukherjee, and Helena Soderpalm, Editing by Louise Heavens, Kirsten Donovan

Our Standards: The Thomson Reuters Trust Principles.