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Finance (390)

Auxo looks ahead after closing $50 million PE fund

Written by | Saturday, 15 September 2018 09:54 |

Closing fundraising for a $50 million private equity fund gives Auxo Investment Partners a year-long breather before preparing to raise capital for a second fund.

In the 12-month period from June 2017 to June 2018, Commerce Bank’s outstanding commercial loan balances in West Michigan grew by 100 percent.

UFCU expands into northern Indiana

Written by | Friday, 31 August 2018 22:13 |

ST. JOSEPH — United Federal Credit Union’s opening of two offices this summer in South Bend and Mishawaka follow the organization’s plan to build a broader presence in the northern Indiana market.

The proposed formation of a trust bank by seven Michigan credit unions gives new fodder to a long-standing battle in the financial services industry.

GRAND RAPIDS — The pending acquisition of 13 offices from an Ann Arbor mortgage company would extend Northpointe Bancshares Inc.’s reach into new markets.

GRAND RAPIDS — Investment firm Grand Angels plans to launch its third venture capital fund, MiBiz has learned.

GRAND RAPIDS — The newest investment fund in West Michigan offers a new model for individual investors to take their first steps into the world of venture capital.

GRAND RAPIDS — An M&A firm catering to small businesses took on a new name as it began to pick up clients and reach out nationally.

A new $20 million venture capital fund aims not only to generate returns for investors but also address a wide gender gap in the investing industry.

Despite strong business optimism and continued economic expansion, bankers say they still see their West Michigan business clients taking a cautious approach to debt.

A pair of initiatives across Southwest Michigan have a similar goal: supporting entrepreneurs starting small businesses in their respective cities and urban cores. 

Q&A: Greg Carmichael

Written by | Saturday, 07 July 2018 16:34 |

Chairman, President and CEO, Fifth Third Bancorp Inc. 

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.

GRAND RAPIDS — Believing that bringing aboard good talent can contribute to driving growth, Legacy Trust CEO Tracey Hornbeck opted to expand the firm’s reach when seeking to add a wealth management adviser.

As Michigan begins to license medical marijuana businesses, a new association seeks to offer an array of financial services to the industry. 

FREMONT — The planned opening of a loan office in Fremont could lead to other locations in West Michigan for Edgewater Bank. 

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