Displaying items tagged: finance

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. 

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

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.

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

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.

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. 

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.

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

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.

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.

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.

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.

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

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.

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.

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.

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

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.

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

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.

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. 

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.

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

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.

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

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

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

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.

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.

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