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Displaying items tagged: finance

Sunday, 20 November 2022 19:06

Rende Progress Capital addresses wealth gap, access to capital for minority borrowers

Eric Foster credits a 2015 report from Forbes.com that ranked Grand Rapids as 51st out of 52 markets in the U.S. economically for African Americans for helping to cement his idea to create Rende Progress Capital. 

Published in Finance
Sunday, 20 November 2022 19:04

Michigan CDFIs to form coalition, collaborate on lending solutions, programming

Aforthcoming statewide coalition aims to leverage the effectiveness of Michigan’s community development financial institutions through a collaborative approach to lending and technical assistance.

Published in Finance
Sunday, 20 November 2022 18:58

Commercial lenders begin to see signs of softness in demand for credit as economy weakens

Commercial lenders head toward the end of 2022 in an uncertain economic environment with rising interest rates and predictions for a mild U.S. recession in the second half of next year.

Published in Finance

Sunday, 20 November 2022 18:56

Credit unions evolve to get competitive on commercial lending

When he began leading commercial lending at Lake Michigan Credit Union in 2011, Jim Maskell occasionally found surprise among prospective clients.

Published in Finance
Sunday, 20 November 2022 18:52

Community Choice CU eyes continued expansion in West Michigan market

MUSKEGON — A new branch office under construction in Muskegon will become the fifth location in the lakeshore market for Community Choice Credit Union, which plans to broaden its West Michigan presence in the years ahead.

Published in Finance
Sunday, 20 November 2022 18:48

New fund launches to support BIPOC farmers, increase access to land

Agroup of West Michigan growers is proposing a solution to solve two problems around equity and unentitled land assets that currently affect the state’s agricultural industry. 

Published in Finance

Sunday, 20 November 2022 18:26

West Michigan executive survey: Talent, inflation pose critical hurdles to growth

Talent and labor availability, inflation, and supply chain disruptions are the biggest hurdles to growth for West Michigan executives, while many plan to turn to automation and price increases to mitigate those risks.

Published in Finance
Wednesday, 16 November 2022 16:11

Rehmann to acquire GR financial services firm

Troy-based accounting and advisory firm Rehmann plans to acquire Rivertown Finance LLC in Grand Rapids.

Published in Finance
Wednesday, 16 November 2022 15:46

DeVos-backed Walstrom Marine acquires Northern Michigan boat dealer, marina

TRAVERSE CITY — Walstrom Marine Inc., a Harbor Springs-based yacht sales and service company and marina operator acquired last year by Continuum Ventures LLC in Grand Rapids, acquired Grand Bay Marine in Traverse City.

Published in Finance

Tuesday, 15 November 2022 13:45

TiiCKER marks largest deal yet with movie studio partnership

TiiCKER Inc., a Michigan-based financial technology firm that manages direct-to-shareholder marketing platforms and perks programs for publicly traded companies, has launched a new partnership with a global movie studio.

Published in Finance
Monday, 14 November 2022 16:04

DeVos-backed Michigan Opportunity Fund raises $100M to invest in companies statewide

GRAND RAPIDS — The $100 million private equity fund created to invest in Michigan-based companies has completed its fundraising and now turns its attention to deploying the capital over the next few years.

Published in Finance
Sunday, 06 November 2022 18:52

CHANGE AT THE TOP: Huntington Bank now leads Grand Rapids MSA for share of deposits

For the next year, Huntington Bank can claim bragging rights in the Grand Rapids market after edging into the leading position for deposit market share that Fifth Third Bank has held for decades.

Published in Finance

Sunday, 06 November 2022 18:50

Acrisure continues buying spree with deal for U.K. insurance broker

GRAND RAPIDS — Acrisure LLC’s latest global acquisition would help solidify the company’s footprint in the United Kingdom.

Published in Finance
Sunday, 06 November 2022 18:45

WHAT’S IN A NAME? Little known outside of Grand Rapids, Acrisure builds brand awareness with sports naming rights, sponsorship deals

When an unknown fintech firm from Grand Rapids supplanted a hometown company in purchasing the naming rights for the home stadium of the NFL’s Pittsburgh Steelers, it kicked off a wave of miffed reactions from fans and commentators alike.

Published in Finance
Thursday, 03 November 2022 00:01

M&A outlook shows cautious optimism as economic conditions create ‘haves and have-nots’ among dealmakers

Business executives and M&A professionals in a recent survey offered cautious optimism for the market next year, despite rising interest rates and elevated expectations for a U.S. recession.

Published in Finance

Tuesday, 01 November 2022 14:31

VC fund leads $3M investment in platform that expedites property insurance claim payments

Grand Rapids-based venture capital fund Grand Ventures led a $3 million capital round for iink Payments, a Tampa, Fla.-based platform that expedites payments for property insurance claims.

Published in Finance
Wednesday, 26 October 2022 10:41

Lake Michigan Credit Union to unify brand under ‘LMCU’ amid growth in Michigan, Florida

GRAND RAPIDS — Lake Michigan Credit Union has launched a rebranding to create a common brand identity in Michigan and Florida using just its initials.

Published in Finance
Friday, 14 October 2022 15:06

Q&A: 3-year grant to help Northern Initiatives improve small business job quality

Small business lender Northern Initiatives will receive $100,000 from major foundations annually over the next three years to help grow small businesses across Michigan.

Published in Small Business

Friday, 14 October 2022 12:38

Consumers Credit Union secures restaurant naming rights at Van Andel Arena 

GRAND RAPIDS — Kalamazoo-based Consumers Credit Union has signed a sponsorship agreement with Van Andel Arena for the naming rights to a restaurant.

Published in Finance
Tuesday, 04 October 2022 20:54

Monroe Equity Partners raises $22M to pursue deals for corporate divestitures

GRAND RAPIDS — New capital commitments from investors give Monroe Equity Partners LLC the financial backing to pursue a market niche that’s projected to offer plenty of opportunity in the next few years.

Published in Finance
Monday, 19 September 2022 12:58

Acrisure expands digital offerings with latest acquisition

GRAND RAPIDS — Grand Rapids-based fintech and global insurance broker Acrisure LLC has acquired an Illinois company that helps small businesses obtain quotes and buy customized coverage online. 

Published in Finance

Monday, 12 September 2022 11:07

Michigan Capital Network raises target for next VC fund to $35M, citing strong interest

GRAND RAPIDS — Strong interest from investors led Michigan Capital Network to expand the size of its new venture capital fund, the organization’s fourth since its inception.

Published in Finance
Sunday, 11 September 2022 18:55

Comfort Research co-founder forms PE firm to pursue direct-to-consumer products deals

A Q&A with Matt Jung, founder of Orange Dot Ventures LLC

Published in Finance
Sunday, 11 September 2022 05:00

KeyBank plans new permanent office in downtown GR

GRAND RAPIDS — KeyBank intends to plant a flag in the West Michigan market with the opening of a downtown Grand Rapids office later this year or in early 2023.

Published in Finance

Thursday, 08 September 2022 12:55

Independent Bank opens 1st full-service branch in Ottawa County

HOLLAND — Independent Bank has opened a branch office in Holland at 12368 Riley St., off U.S.-31 near a Meijer Inc. store.

Published in Finance
Friday, 02 September 2022 11:10

Orange Dot Ventures, new PE firm from Comfort Research co-founder Matt Jung, completes first deals

A new West Michigan private equity firm has kicked off with a pair of deals for direct-to-consumer products companies. 

Published in Finance
Wednesday, 31 August 2022 10:55

Crain Communications acquires Grand Rapids Business Journal

GRAND RAPIDS — Crain Communications Inc. has acquired the Grand Rapids Business Journal from Troy-based Gemini Media LLC, publication executives announced today.

Published in Finance

Wednesday, 31 August 2022 09:48

Consumer goods insurer Montage Inc. of Kentwood acquired by Boston firm

KENTWOOD — Montage Inc., a provider of protection plans for residential furniture, jewelry and watches, has sold to One80 Intermediaries Inc., a Boston-based specialty insurance broker.

Published in Finance
Tuesday, 30 August 2022 11:28

New Community Transformation Fund’s second investment goes to fintech relocating to GR

The second investment by the New Community Transformation Fund — a recently formed Grand Rapids investment fund for minority entrepreneurs — went to a Texas fintech that relocated its headquarters to downtown Grand Rapids.

Published in Finance
Friday, 19 August 2022 09:31

State to deploy $72M in first round of federally funded small business loans, investments

The state has begun the process to dispense nearly $237 million in federal funding to support small businesses.

Published in Small Business

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