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Finance (187)

Opening a financial services division is the latest step of a broader growth strategy for Honor Credit Union to serve a larger base of members.

While Lake Michigan Credit Union is making its first foray out of Michigan with a mortgage lending office in Mishawaka, Ind., that doesn’t necessarily mean the organization will open branch locations outside of its home state, executives said.

Kzoo VC fund raises $2M toward goal

Written by | Sunday, 03 August 2014 22:00 |

A new Kalamazoo-based venture capital fund closed on its first fundraising phase, although organizers hoped by now to have moved closer toward their $10 million goal.

The proposed combination of two Southwest Michigan credit unions furthers a steady consolidation trend in the industry that’s been occurring for several years.

As each envisions becoming the top community bank in Michigan, Mercantile Bank Corp. and Chemical Financial Corp. could potentially make additional acquisitions in the future to drive growth.

The planned acquisition of Founders Bank & Trust gives Old National Bancorp a solid footing in the Grand Rapids-area market to pursue new business.

The proposed 2015 premium adjustments for health plans created under Obamacare show rates going up, down and everywhere in between.

Frustrated with traditional real estate investment models, a pair of Grand Rapids-based investors formed a new platform that will help them and other investors tap into the crowd to fund deals.

After devising an ambitious expansion plan, Grand Rapids restaurateur Mark Sellers realized he needed to look beyond traditional sources of capital to support his company’s growth into new markets.

Legislation that would allow crowdfunding investors who bought into a small business to later sell their shares via an online portal awaits final consideration when lawmakers return to Lansing this fall.

Private equity investors put $6.7 billion into 50 Michigan-based companies last year, according to an annual report issued in late June by the Washington, D.C-based Private Equity Growth Capital Council (PEGCC).

Communities and organizations that use crowdfunding to raise funds for public projects have an opportunity to double their money.

Michigan’s improved economy has a pension fund for retired public employees taking a wider view and giving its home state more consideration when making investments.

A $9.8 million investment that included money from a pension fund for Michigan public employees should provide the growth capital that Grand River Aseptic Manufacturing Inc. needs to fund expansion for two new large client contracts.

GROW expands microloan program to lakeshore

Written by | Wednesday, 18 June 2014 21:43 |

Support from a community foundation led Grand Rapids Opportunities for Women (GROW) to set up shop in Muskegon to provide microloans to small businesses on the lakeshore.

Federal regulators may alter the definition of an “accredited investor,” a change that would significantly shrink the pool of people in the nation who could invest in private offerings by businesses seeking capital.

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