GRAND RAPIDS — New capital investments involving existing investors will bring two health care startups backed by Genesis Innovation Group LLC closer to the market.

  GRAND RAPIDS — In partnering on a $25 million small business relief fund, Kent County and the Grand Rapids Area Chamber of Commerce want to tap a number of community and entrepreneurial support organizations to get the word out to companies and provide volunteers to vet grant applicants. 

Grand Rapids Opportunities for Women and the Community Foundation for Muskegon County have teamed up for a new aid fund for small businesses directly affected by the COVID-19 pandemic.

Changes by the Federal Reserve Board should draw greater interest to the new $600 billion Main Street Lending Program for small and mid-sized businesses hurt financially by the COVID-19 pandemic.

The Federal Reserve Bank’s $600 billion Main Street Lending Program promises to offer small and mid-sized businesses hurt financially by the COVID-19 pandemic with another option to access credit and operating capital. 

GRAND RAPIDS — Tetra Therapeutics Inc.’s sale to a Japanese pharmaceutical company provides a final pathway toward bringing to market potential new drugs to treat Alzheimer’s disease and a form of autism, as well as generates a handsome return for financial backers.

The FDIC intends to keep providing regulatory flexibility to banks as they navigate the economic recession brought on by the COVID-19 pandemic. The federal regulatory agency wants banks to remain agile and do what they can to support consumers and small business owners during the crisis, according to FDIC Chairman Jelena McWilliams. McWilliams, who began a six-year term on the FDIC Board of Directors in June 2018, previously served as executive vice president, chief legal officer, and corporate secretary for Fifth Third Bank in Cincinnati, Ohio.

In a recent conference call, the president and CEO of Detroit-based TCF Financial Corp. — the parent company of what remains known in Michigan as Chemical Bank — voiced a simple ethic that all businesses, no matter their industry or their size, must keep in mind in the COVID-19 pandemic.

GRANDVILLE — The parent company for Grand River Bank wants to raise $7.5 million to provide a cushion for the economic downturn brought on by the COVID-19 pandemic.

Michigan’s hard-hit economy will record a major dive for the second quarter from the effects of the COVID-19 pandemic, losing nearly one-third of its output, before partially recovering in the third quarter. 

Michigan is facing a more than $3 billion shortfall for the state’s general fund and school aid budget in the fiscal year that ends Sept. 30, according to analyses by state fiscal agencies.

In mid-2018, executives and directors at Community Shores Bank Corp. began to study “strategic alternatives” to grow the bank.

TRAVERSE CITY — High Street Insurance Partners, a private equity-backed agency platform, recently completed three acquisitions, including two deals in West Michigan.

Michigan has gradually grown more reliant on federal funding to support state operations, creating “limited discretion over budgetary choices” as it’s forced to make cuts during the coronavirus pandemic, according to analysts.

The Michigan Economic Development Corp. plans to put $3 million into a capital fund that will invest in early-stage technology companies.

HOLLAND — Earnings at Macatawa Bank Corp. declined for the first quarter, largely from higher a loan-loss provision because of the COVID-19 pandemic.

GRAND RAPIDS — Mercantile Bank Corp. reported lower earnings to start 2020 and sits in an “extremely solid” condition for the economic downturn brought on by the COVID-19 pandemic.

Venture capital firms invested a record amount into Michigan-based companies in 2019, led by a Plymouth-based automotive technology company that accounted for three-quarters of the total.

The COVID-19 pandemic that dismantled daily routines and hammered the economy has forced investors to pivot along with the companies they back financially.

Huntington Bank has temporarily stopped taking application from companies seeking a U.S. Small Business Administration loan to get them through the economic hardship caused by the COVID-19 pandemic.

GRAND HAVEN — A new investment from private equity owner Blackford Capital gives Grand Haven-based portfolio company Grand Power Systems Inc. capital needed to support growth.

Small businesses that have been slammed by the coronavirus pandemic and expect to have difficulty making commercial loan payments should call their bankers now to work out possible adjustments.

The COVID-19 pandemic that’s swept the nation adds a new issue for business succession and transition planning.

Fifth Third Bank plans a number of immediate moves to ease the financial burden on small business and consumers hit by the coronavirus pandemic.

GRAND RAPIDS — Charter Growth Capital Fund co-invested along with Birmingham-based lead investor Colfax Creek Capital LLC in Traverse City Products LLC.

The trade associations representing the banking industry across Michigan say banks intend to stay open during the crisis brought on by the coronavirus pandemic.

The coronavirus outbreak that’s battered Wall Street and caused supply chain disruptions for some manufacturers has yet to interrupt transactions, although more conversations are occurring as part of due diligence, according to M&A professionals.

GRAND RAPIDS — Hiring an M&A adviser in the Chicago area expands business broker Calder Capital LLC into new markets in the Midwest.

As much of the banking industry went in the opposite direction, Sparta-based ChoiceOne Bank opened branches starting in late 2018.

HOLT — Business Management Resources Inc., a provider of managed accounting services to restaurant chains, has been acquired by Cincinnati, Ohio-based accounting and advisory firm Clark, Schaefer, Hackett & Co.

GRAND RAPIDS — Charter Capital Partners represented Hancock-based Keweenaw Financial Corp., the parent company of Superior National Bank & Trust, in the $42 million acquisition of North Star Financial Holdings Inc.