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A private-equities fund formed this year to invest in Michigan-based manufacturers has had “tremendous success” so far attracting investors.

Private equity in need of a makeover

Written by | Sunday, 18 November 2012 00:00 |

The private equity business could use a bit of a makeover, especially in the wake of the PR beating it took during the recent presidential election, says former Republican National Committee chairman and current private equity executive Ken Mehlman. 

Most banking markets across West Michigan grew from mid-2011 to mid-2012 after a one-year decline from 2010.

Local banks improve performance as losses abate

Written by | Sunday, 11 November 2012 20:06 |

West Michigan-based banks further improved earnings during the third quarter as they continued to recover from the recession amid a slow economy.

If nothing else, Chuck Hadden views Michigan’s rise in a national ranking of state business tax climates as further proof that the state is changing for the better.

A dip in U.S. Small Business Administration lending in Michigan during the past year doesn’t mean fewer businesses are borrowing money.

Survey data show business owners across Michigan are decidedly less upbeat about their prospects for the coming six months than they were last spring, although they were better prepared for a slowing U.S. economy than their counterparts in other states.

After closing fundraising on its flagship fund to invest more than $15.1 million in early stage Michigan-based businesses, a Grand Rapids venture fund can now focus on building its investment portfolio and recording its first exit.

When it came time for a Standish-based plastic molding company to grow, the company went looking for a loan to finance an expansion. But the firm didn’t qualify for a loan because of a lack of adequate collateral, the result of the recession that pushed down the valuation of many companies.

Michigan Accelerator raises $15.1M for first fund

Written by | Sunday, 30 September 2012 14:43 |

A Grand Rapids venture capital firm has closed fundraising on its flagship fund, raising more than $15.1 million to invest in early stage businesses based in Michigan.

Hopen broadens Midwest reach

Written by | Sunday, 30 September 2012 10:44 |

Opening a Cleveland office staffed by an industry veteran gives Hopen Life Science Ventures a broader presence in the Midwest to scout for potential deals with life sciences startups.

Credit unions continue growth

Written by | Sunday, 16 September 2012 18:16 |

Credit unions across Michigan posted strong growth during the past year, as the state’s economy picked up and drove loan demand, particularly among businesses.

Credit unions get OK for equity, VC investing

Written by | Sunday, 16 September 2012 17:51 |

Small businesses across Michigan could soon have a new source to tap for investment capital: credit unions.

Community Shores posts profit, seeks options

Written by | Tuesday, 04 September 2012 09:43 |

Returning to profitability after more than three years of losses is just the first step of what remains a long journey toward getting Community Shores Bank Corp. back to sound financial footing.

In hiring a pair of seasoned commercial lenders in West Michigan, Flagstar Bank seeks to carve out a larger role in the market as part of a corporate strategy to diversify its revenue base.

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