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Finance (309)

State revenue from taxes paid by small businesses more than doubled as Michigan’s economy improved coming out of the Great Recession and as the overall business tax burden in the state declined.

KALAMAZOO — Life sciences startup Innovative Cardiovascular Solutions LLC of Kalamazoo netted $1.4 million so far in a push to raise up to $7 million in Series B capital. 

The opening of equity-based crowdfunding in the U.S. provides a new option for entrepreneurs to raise money from individuals who want to invest but don’t meet the definition of an accredited investor.

HOLLAND — Macatawa Bank Corp. sits in a far better position today than it did in the recent past.

GRAND RAPIDS — Commerce Bank has moved into West Michigan, seeking to carve out a role in the middle market.

When Mike Price and his colleagues formed Mercantile Bank Corp. nearly 20 years, they faced a vastly different landscape versus what exists today.

Venture capital firms in Michigan do better than their counterparts nationally, but women and minorities still account for a small number of investment professionals who work in the industry and the entrepreneurs it supports.

After operating for years in rural communities to the north, ChoiceOne Bank wants to carve out a position in downtown Grand Rapids.

PARCHMENT — Advia Credit Union’s proposed acquisition of Mid America Bank, a small community bank in southern Wisconsin, is the kind of deal that occurs infrequently in the financial services industry.

Acrisure LLC bought the most insurance agencies in the U.S. and Canada last year, easily outpacing the number of deals by other acquirers in a consolidating industry.

As the service sector rises, Julie Weeks says don’t forget manufacturing.

PE firms expect momentum to carry into 2016

Written by | Sunday, 06 March 2016 14:47 |

As private equity deal flow across the U.S. remained strong in 2015, Huron Capital Partners stayed as busy as ever.

An investment firm that serves RDV Corp., the family office for Amway co-founder Richard DeVos, has formed a $130 million private equity fund.

Many credit unions recorded 2015 loan growth in the double digits, said Kenley Penner, a partner and the head of Plante Moran PLLC’s credit union practice. Penner attributes the results and lending growth to a “relatively strong” housing market that’s driving mortgage originations, coupled with strong sales volumes for both new and used vehicles.

Elevated by a couple of major investments, venture capital investing in Michigan life sciences companies in 2015 equaled the dollar value from the prior year with a high number of deals.

A pair of deals would give Chemical Financial Corp. and Huntington Bancshares Inc. larger footprints in Michigan and could renew the momentum for bank M&A in the state.

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