Displaying items tagged: finance
Grant will help Northern Initiatives reach more Hispanic entrepreneurs in Michigan
A $500,000 grant from Wells Fargo Bank will enable Northern Initiatives to put a larger focus on diversifying its lending.
Grand Ventures leads investment round in California fintech firm
GRAND RAPIDS — Grand Ventures led an investment round in CRE Simple Inc., an Oakland, Calif.-based fintech firm focused on commercial real estate.
Mercantile Bank cites ‘solid’ loan growth through third quarter
GRAND RAPIDS — Mercantile Bank Corp. maintained solid growth and earnings through the third quarter.
Keystone Solutions eyes continued growth with Charter Growth Capital investment
KALAMAZOO — A Grand Rapids mezzanine fund’s investment will enable Keystone Solutions Group to maintain its strong growth trajectory in the years ahead.
Red Oak Capital pursues third $50M fund for commercial real estate bridge loans
GRAND RAPIDS — Red Oak Capital Group LLC plans to raise another $50 million through a public bond offering for a third fund to offer bridge loans for commercial real estate.
As financial groups push SAFE Banking Act, barriers to serving marijuana firms remain
Even if the U.S. Senate were to pass a bill to make it easier for banks and credit unions to serve the emerging cannabis industry, questions remain over just how many financial institutions will act quickly on the opportunity.
M&A Awards: Achieving investor alignment key to Acrisure’s $2 billion capital raise
Investors initially wanted to up their ante and take their stake in Caledonia-based Acrisure LLC to several times their existing holdings.
M&A Awards: Northpointe Bank gets boost from $25M raise, deal to expand to northeast states
Raising $25 million in capital and acquiring a mortgage company positioned Northpointe Bank for even more growth in the years ahead.
Charter Growth Capital mezz fund invests in Keystone Solutions
Charter Growth Capital Fund, a mezzanine fund formed this past summer by Grand Rapids-based Charter Capital Partners, made its first deal with an investment in Keystone Solutions Group.
Greatland acquires New Jersey tax form processing firm
GRAND RAPIDS — Greatland Corp., a provider of W-2, 1099 and 1095 solutions, has acquired JAT Software Inc. of Bridgewater Township, N.J.
Grand Ventures closes on $28 million fundraising round
GRAND RAPIDS — Venture capital fund Grand Ventures has closed on $28 million that was raised for its first fund.
Element 22 raises $500,000 from 10 credit unions, transitions to CUSO
PORTAGE — Kenneth Leonard and Ryan Reffitt originally set out to provide small banks and credit unions across Michigan with underwriting and other support services for writing business loans.
Acquisitions remain option for ChoiceOne after County Bank deal
SPARTA — ChoiceOne Financial Services Inc. remains open to further acquisitions after the $89 million deal with Lapeer-based County Bank Corp. is completed next year.
High Street Insurance eyes ‘fantastic’ growth opportunities in consolidating industry
The purchase of Ottawa Kent Insurance Agency Inc. comes as a Traverse City-based agency platform backed by private equity investors pursues a Midwest acquisition strategy.
New Acrisure joint venture leverages AI to serve nontraditional workers
CALEDONIA — Acrisure LLC has launched a joint venture to sell insurance coverage directly to consumers through a digital platform backed by artificial intelligence.
Shareholders approve ChoiceOne-County Bank merger
SPARTA — ChoiceOne Financial Services Inc.’s merger with Lapeer-based County Bank Corp. easily earned shareholder approvals this morning and now heads to a close next spring.
Ottawa Kent Insurance sells to PE-backed High Street
JENISON — Ottawa Kent Insurance Agency Inc. was acquired by Traverse City-based High Street Insurance Partners Inc., an insurance agency platform formed last year by Huron Capital Partners LLC, a Detroit-based private equity firm.
The revised statement of purpose from the Business Roundtable
Here is the revised text of the “Statement on the Purpose of a Corporation” issued by the Business Roundtable on Aug. 19:
Great Lakes VC funds increasingly look locally for deals
Grand Ventures I LP’s lead investment in a Chicago digital health company typifies what’s occurring in venture capital in Michigan and neighboring states: Funds based in the region are backing Great Lakes-based startups.
Outlooks continue to show slower growth ahead for Michigan, U.S. economies
As U.S. economic growth slows, so too does Michigan’s economy.
Corporate executives look beyond shareholders
The Business Roundtable, an organization of leading U.S. corporate executives, last month issued a new version of its Statement on the Purpose of a Corporation.
GVSU professor: Beware of greenwashing in Business Roundtable’s revised corporate purpose statement
The latest version of the Business Roundtable’s Statement on the Purpose of a Corporation is intriguing, according to Tim Syfert, a clinical professor of business at Grand Valley State University’s Seidman College of Business.
Steelcase’s Keane: New statement shows businesses ‘lead the way in doing good’
Steelcase Inc. President and CEO James Keane was among the 181 chief executives in the U.S. that signed the Business Roundtable’s “Statement on the Purpose of a Corporation.” He offered his perspective on the document in emailed responses to MiBiz.
My Personal Credit Union rebrand as Bloom Credit Union
WYOMING — My Personal Credit Union of Wyoming changed its name to Bloom Credit Union.
Grand River Bank expands with east side location in GR
GRAND RAPIDS TOWNSHIP — Grand River Bank plans to open a new office on the east side of Grand Rapids by the middle of next year.
BANKING: Banks and credit unions wait for federal law to become more cannabis-friendly
The legalization of cannabis in Michigan offers an emerging economic sector for banks and credit unions, but only if Congress enacts legislation to change existing federal law and allow them into the market.
ALL VERY HIGH: Risks, rewards, barriers-to-entry elevated for Michigan cannabis investors
GRAND RAPIDS — Brandon Kanitz walks through a cavernous area of a former auto-parts manufacturing plant, pointing out areas that in the months ahead will become growing rooms for marijuana plants.
Consumers Credit Union builds new Grand Rapids-area branch
Kalamazoo area-based Consumers Credit Union recently began construction on a new branch on 54th Street SW in Wyoming, its sixth office in the Grand Rapids area.
Perrigo reports progress on transformation plan
ALLEGAN — Perrigo Co. plc reaffirmed its 2019 earnings guidance and reported a slight decline in net sales resulting from unfavorable currency translations and exited businesses.
Traverse City insurance firm Hagerty sells minority stake
TRAVERSE CITY — Markel Corp., the Richmond, Va.-based holding company for various insurance, reinsurance, and investment operations, has acquired a minority stake in The Hagerty Group LLC, a Traverse City-based insurer of classic cars and high-end automobiles.