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Finance (187)

Advocates of using crowdfunding to raise capital for small businesses are preparing to get the word out on how the practice works now that it has been legalized in Michigan.

As Kyle DeWitt and award-winning brewer Tim Schmidt started raising capital to launch a new brewery in southeast Michigan, they “hit a wall” in the amount of funding they could secure through traditional sources.

Michigan’s lawmakers approved crowdfunding less than 90 days ago. Now they want to authorize stock exchanges. As legislators rush to position the state as a pioneer in equity crowdfunding, experts say there are lots of unanswered questions for business owners and investors.

After doubling revenues to more than $80 million and closing nine deals in 2013, insurance broker Acrisure LLC remains on an ambitious growth path that follows a consolidation trend in its industry.

Two West Michigan-based credit unions are expanding their footprints in pursuit of greater growth.

After committing all of its first-year capital, Muskegon Angels LLC may look to spread its wings further in 2014.

Private equity outlook flattens from last year

Written by | Sunday, 02 March 2014 22:34 |

An outlook from BDO USA LLP projects private equity deal flow to slow in 2014 as increased business valuations limit the ability of fund managers to source and close deals.

Executives at a state-backed mezzanine fund that formed last year expect more banks to invest now that it’s demonstrated there is demand for subordinated debt among growing Michigan companies.

Coming off a year of record earnings, Chemical Financial Corp. expects to continue growth in 2014 as the company remains in an active acquisition mode.

Grand Angels expects steady deal volume for 2014

Written by | Sunday, 16 February 2014 22:27 |

Five deals that closed in late 2013 capped a year that saw Grand Angels do more investing with its peer groups around Michigan.

Even though business lending is still not at pre-recession levels, some banks in the West Michigan market saw continued growth and increased commercial activity over the last year.

Venture capitalists cut more deals in Michigan in 2013 than in any other year on record, although the dollar amount of their investments declined sharply from the prior year.

Venture capitalists put more than $58 million into 26 Michigan companies in the fourth quarter of 2013, as yearly deal volumes reached a new high.

Kzoo portal aims to facilitate local crowdfunding

Written by | Sunday, 19 January 2014 20:58 |

A new state law designed to make it easier for Michigan investors to put money into Michigan companies provides Thell Woods the final element he needs to launch a crowdfunding portal in Kalamazoo.

Talmer Bancorp hopes to raise $230M in IPO

Written by | Sunday, 12 January 2014 10:28 |

Troy-based Talmer Bancorp Inc., the company that recently acquired Michigan Commerce Bank and renamed it Talmer West Bank, now plans to become a public corporation.

Amid questions from a New York City activist about its residential lending practices and a potential class-action lawsuit, Mercantile Bank Corp. says it is open to making changes should federal regulators seek to impose conditions before approving a $151.5 million merger with Firstbank Corp.

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