Displaying items by tag: Fifth Third Bank
Michigan’s economy could stand to benefit in the years ahead as manufacturers move to reshore work to the U.S. after dealing with severe disruptions in their foreign supply chains when the coronavirus first surfaced in China.
The U.S. economy that got hammered by the COVID-19 pandemic this spring heads toward 2021 on the rebound, although a surge in cases during the fall and renewal of restrictions in many states may limit economic growth nationally early in the new year.
GRAND RAPIDS — Planning now for the future development of an outdoor amphitheater, soccer stadium and expansion of the DeVos Place convention center positions Grand Rapids to proceed once the COVID-19 pandemic eventually ends.
GRAND RAPIDS — The business group that pushed several major developments over the past 25 years is now focused on a downtown convention center expansion, an amphitheater and a professional soccer stadium.
The COVID-19 pandemic that shut down much of the economy in March had all businesses scrambling to maintain operations — if they were allowed to stay open — and keep employees safe. Banks closed their branch lobbies and directed customers to use drive-thru lanes or digital banking to handle transactions.
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.
Bankers across the region have been focused on working with small business clients to secure loans from the federal Paycheck Protection Program, as well providing payment deferrals and adjusting loans for business borrowers hit hard by the COVID-19 pandemic.
New grant funds by the state and in Kalamazoo, as well as a loan fund in Grand Haven, are the latest efforts to provide relief to small businesses hit hard by the COVID-19 pandemic.