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GRAND RAPIDS — A $125,000 federal grant provides the funding for Grand Rapids Opportunities for Women to gear up to become a larger lender to small businesses.

GRAND RAPIDS — As older entrepreneurs increasingly seek to sell their small businesses and retire, Max Friar saw a business opportunity.

State lawmakers are looking to resolve what appears to be an oversight when it passed legislation in 2016 creating a regulatory framework for the medical marijuana industry.

HOLLAND — Partners in a firm that invests in medical device innovations are considering forming a new $10 million venture capital fund to back early-stage health care startups, MiBiz has learned.

The number of venture capital deals in Michigan held relatively steady through the third quarter of 2017 compared to the same period a year earlier, although the amount invested declined.

OSHTEMO TOWNSHIP — Years of sustained growth has Advia Credit Union planning to develop a new corporate office.

GRAND RAPIDS — In restructuring its executive team, Legacy Trust wants to bring a greater diversity of perspectives to the decision-making process and setting strategy.

Grand Angels launches Kalamazoo-based affiliate

Written by | Sunday, 03 September 2017 15:57 |

With the formation of an affiliate angel investment group in Kalamazoo, Grand Angels has taken the first step toward possibly creating a handful of similar arrangements statewide.

Private equity investors have more capital to deploy today than they have in years.

Charter Capital adds two partners to the business

Written by | Sunday, 03 September 2017 16:47 |

GRAND RAPIDS — In a move designed to manage growth in the business, investment banking and M&A firm Charter Capital Partners promoted two managing directors to partners.

GRAND RAPIDS — Horizon Bank’s move into the West Michigan market provided an opportunity to launch a private banking service based in Grand Rapids that will eventually extend across the corporation.

HOLLAND — A West Michigan firm that invests in medical device companies has completed a capital raise of more than $1.1 million.

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.

SBA lending, by the numbers

Written by | Sunday, 06 August 2017 15:57 |

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.

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