As it works to close two deals, Chemical Financial Corp. wants to increase its number of outstanding shares to finance pending mergers and perhaps structure future acquisitions.
Commercial lending by credit unions could get a boost through an agreement between two federal agencies that would increase access to credit for small businesses.
The regional economic recovery “is one of the most impressive across the Midwest region,” led by the manufacturing sector that’s now followed by expansion in other industries, according to the latest PNC outlook that covers a broad market that includes Grand Rapids, Kalamazoo, Battle Creek and Lansing.
As the availability of venture capital increases further in Michigan, investors are steering more money and cutting more deals to invest in technology-based sectors.
Raising $10.6 million provides Grand River Bank’s parent company with added capital to drive further growth and pursue new business as some competitors are either now part of larger banks or are merging into larger institutions.
For any business owner who’s seeking a buyer and worries about what will happen to his or her company in the long term, cutting a deal with another family could very well represent an option to consider.
Venture capital investors put almost twice the amount of money into Michigan companies in 2014 as they did the year before, continuing the industry’s momentum.
With the integration of the former Firstbank Corp. nearly complete following the acquisition last summer, Mercantile Bank Corp. moved into 2015 targeting loan and revenue growth across a far broader market.
The driving force behind Lake Michigan Financial Corp.’s proposed $184.1 million sale to Chemical Financial Corp. represents a contrast to what’s been driving most of the consolidation in the banking industry.
Continuing to grow through acquisitions, Chemical Financial Corp. said it plans to acquire Holland-based Lake Michigan Financial Corp. in a $184.1 million deal.
Before directors at Coldwater-based Monarch Community Bancorp Inc. explored the possibility of a sale or acquiring other banks itself, the organization needed to complete a successful recapitalization strategy and to emerge from under increased regulatory scrutiny.
Private equity deal flow was strong in 2014 and Gretchen Perkins believes it will continue that way in 2015 as more business owners look to sell their companies in a good economy. A partner at Detroit-based private equity firm Huron Capital Partners, Perkins expects the economy to continue to improve this year, helping drive opportunity for both buyers and sellers.
Grand Angels, the angel investing group formed a decade ago to back young companies in Michigan, is apparently preparing to create new venture capital fund.
A year-old law aimed to make it easier for all kinds of small businesses in Michigan to raise capital via intrastate crowdfunding. But the only companies consistently taking advantage of the new fundraising tool have been in the food and beverage industry, particularly craft breweries.
As 2014 draws to a close, small business owners still have time to better position their personal finances going into the new year.
If Michigan were a top 10 business state, we’d have 150,000 more jobs and an average of $12,000 more in individual income.