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Mark Sanchez

Mark Sanchez

Senior Writer

[email protected]

Sunday, 06 August 2017 15:57

SBA lending, by the numbers

The U.S. Small Business Administration’s largest lending program wrote slightly more loans in Michigan through three quarters of the federal government’s fiscal year, although the value declined. Through June 30, the SBA backed 1,867 loans for $411.2 million in Michigan written under the 7(a) program, which compares to 1,847 loans for $500.8 million through the same period in the 2016 fiscal year.

Loans written under the SBA’s 504 lending program grew from year to year. Michigan had 160 loans for $115.3 million under the 504 program through June 30 of the current fiscal year, versus 127 loans for $83.8 million in the first three quarters of the 2016 fiscal year.

Here are 7(a) and 504 loan volumes in the state as of June 30, plus the top 20 banks and top 10 credit unions for 7(a) loans in Michigan.

Higher interest rates during 2017 haven’t acted as a damper on commercial lending in West Michigan, although some lenders are seeing borrowers moving to fixed-rate business loans.

Among the commercial and industrial borrowers at Lake Michigan Credit Union, about one-third are expanding or buying new equipment that’s needed to grow their businesses.

Nearly one in five Blue Cross Blue Shield of Michigan members had a prescription for an opioid filled in 2015. The dispensing rate nationally was higher, at 21.4 percent. Between 2010 and 2016, the 36 Blue Cross Blue Shield plans across the U.S. recorded a 493-percent spike in enrollees diagnosed with a disorder associated with opioid use. Those statistics from the Chicago-based Blue Cross Blue Shield Association reflect the opioid epidemic in America that in 2016 resulted in more than 33,000 overdose deaths. MiBiz spoke with Jody Gembarski, a pharmacy manager at Blue Cross Blue Shield of Michigan who oversees its controlled substance work group, to discuss the association’s analysis and the role the state’s largest health insurer has in responding to the epidemic.

GRAND RAPIDS — Spectrum Health’s latest business venture seeks to create a new way to deliver care by focusing on keeping people healthy, rather treating them when they’re sick.

GRAND RAPIDS — Priority Health members who have used the insurer’s cost estimator have saved more than $6.3 million in the two years the online tool has been available.

The losses health insurers in Michigan incurred last year on individual policies led to the large rate increases proposed for 2018 and moved the market to a “very delicate point,” according to one industry analyst.

HOLLAND — Holland Hospital plans to begin work early next year on a $14.5 million expansion of its birthing unit to accommodate more newborn deliveries.

KALAMAZOO — Innovative Cardiovascular Solutions LLC will support further development of its medical device thanks to $5 million in new capital it raised from angel investors.

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