Displaying items by tag: Bank of America
A Grand Rapids-based venture capital fund that will invest nationally in companies owned by minorities has secured commitments now totaling $6.25 million, with potentially millions more on the way.
GRAND RAPIDS — A new venture capital fund to invest in businesses owned by racial and ethnic minorities looks to secure financial backing locally before reaching out nationally for investors.
The projected slide in new vehicle sales globally and nationwide paints a grim picture for the industry, but local auto dealership executives say there’s a disparity between the numbers and what they’re seeing on their lots.
As much of the banking industry went in the opposite direction, Sparta-based ChoiceOne Bank opened branches starting in late 2018.
GRAND RAPIDS — The Right Place Inc.’s new venture capital fund plans to target investments toward an area of the economy where capital historically has flowed the least: startups and businesses owned by racial and ethnic minorities.
GRAND RAPIDS — Aiming to create greater ethnic and racial diversity in business ownership across the region, The Right Place Inc. teamed with Bank of America and the Consumers Energy Foundation to form a capital investment fund.
GRAND RAPIDS — CWD Real Estate Investment Inc. want to reshape a key downtown corridor with more retail users, including storefronts and restaurants.
Professionals expect a vibrant M&A market and strong deal flow this year amid easing U.S. economic growth and rising interest rates.
Bank of America’s West Michigan operations had a record year in 2018 in terms of the number of new business clients. The year came on top of similar results in 2017, when the bank consolidated local operations into a single office in downtown Grand Rapids, a move that better organized and generated greater collaboration among staff in pursuing new business. Echoing the sentiment of other local executives, Tabben said business clients are working to cope with the region’s tight labor market.
Rising interest rates won’t lead to change in how banks underwrite credit, although business borrowers need to monitor their effects if they opt for a variable-rate commercial loan.