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Finance (301)

MiBiz kicks off the new year with a comprehensive special report on the region’s climate for raising, borrowing and lending growth capital. For local companies looking to expand or acquire, money is flowing as lenders and investors compete for deals. What’s driving the flow of capital and how long will the spigot remain wide open?

Michigan’s venture capital and angel investment industry is growing up fast, getting more sophisticated and starting to make later-stage investments into companies. Meanwhile, private equity firms continue to operate in a hot acquisition market, and family offices are taking a large presence as well and competing more for deals.

There’s little doubt among local executives that commercial lenders are eager to deploy capital to growing businesses. However, that willingness to lend changes when it comes to service-based companies or startup organizations

Not that it’s ever easy, but business owners have a greater array of options than ever when seeking financing for their companies. From private investor capital to bank debt, businesses with a good track record should have the ability to secure what they need, according to local finance professionals.

Dan Bitzer’s ascension to the role of president at First National Bank of Michigan followed a process that directors at the Kalamazoo community bank outlined years earlier.

Blackford Capital plans to spend 2016 raising money for a new private equity fund that will seek to build off the success of its first fund and invest in Michigan-based companies.

Economists say the quarter-point increase in a key interest rate will have little or no effect on the economy and represents the start of a return to normal after years at historic lows.

Legislation pending in Lansing would update and streamline state regulations over Michigan credit unions and potentially enable them to expand services.

Community banks based in West Michigan posted solid loan growth in the last few months, continuing recent momentum brought about by the state’s improved economy.

SEC finalizes equity crowdfunding rules

Written by | Sunday, 08 November 2015 21:34 |

The adoption of final federal rules to allow equity crowdfunding now puts the focus on who will actually use it to raise capital for their business or to make an investment.

M&A deal flow could be peaking, Dykema survey shows

Written by | Sunday, 01 November 2015 21:34 |

Fewer M&A professionals and business executives expect deal flow to strengthen in the year ahead. That’s according to an annual survey by law firm Dykema that indicates M&A activity could be peaking after a hot market the last few years.

Start Garden, Emerge West Michigan explore merger

Written by | Sunday, 25 October 2015 22:00 |

GRAND RAPIDS — Early-stage venture capital firm Start Garden LLC and Emerge West Michigan, a public-private partnership focused on services for entrepreneurs in 13 counties, are exploring a merger, MiBiz has learned.

LANSING — As the governor and legislators struggle to agree on a plan to fund upgrades to Michigan’s aging road system, Rich Studley worries that failure to resolve the issue hurts the state’s reputation and business climate.

A good economy and participation from more banks across the state drove U.S. Small Business Administration lending to a record level in the last year.

GRAND RAPIDS — Opportunity from a planned retirement and the chance to further drive economies of scale led to the proposed transformational merger between Lake Michigan Credit Union and United Federal Credit Union in St. Joseph.

As Chemical Financial Corp. continues to scout for its next acquisition, executives are preparing for a time when the bank surpasses $10 billion in assets and will incur the increased regulatory compliance that comes with it.

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