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City files litigation against The Grove for unpaid CDBG micro-business loan (...
To beat the statute of limitations, the city has filed litigation to recover a federally funded business loan from the owners of a now-defunct restaurant.
Sharp drop in small business loans (CNN Money)
The credit freeze afflicting America's small businesses shows no signs of thawing. In the last three months of 2008, the Small Business Administration's flagship loan-guarantee program backed less than half the number of loans it approved a year earlier - a sign that fewer entrepreneurs are getting financing to start or expand their ventures.
Los Angeles-area small-business lender receives cash infusion (Los Angeles Ti...
Valley Economic Development Center gets $15 million from the city of Los Angeles and $1 million from Merrill Lynch to bolster nearly drained loan funds. After nearly running out of money in its small-business loan funds last month, Valley Economic Development Center Inc. of Van Nuys says it is getting $16 million to enable it to continue to lend to Southern California firms caught in the ...
Indiana Business Bancorp Q3 net interest income up; net loss widens (Banking ...
Indiana Business Bancorp has reported that net interest income for the third quarter ended September 30, 2008 was $717,726, an 11% increase from the third quarter of 2007. The increase is attributed to growth in the loan and investment portfolios. Net loss was $476,582 for the quarter, compared to a loss of $2,763 for the same period in 2007.
United Community Banks ups loan loss provision (BizJournals)
United Community Banks Inc., Georgia’s third-largest bank, said Monday it will raise its fourth-quarter loan loss reserve in the wake of credit deterioration and current economic conditions, particularly in its metro Atlanta residential construction portfolio. (UCBI) (SNV)
Synovus to increase loan loss provision to $250M (BizJournals)
Synovus said Friday it expects raise its loan loss reserves in the fourth quarter to cover bad loans, particularly in the Atlanta residential market. (SNV)
Wells Fargo Purchases Loan and Lease Receivables from GE Healthcare Financial...
DES MOINES, Iowa----Wells Fargo & Company has purchased approximately $730 million in loan and lease receivables from GE Healthcare Financial Services – Equipment Finance, a unit of GE Capital.
City on brink of 15-year loan extension (The Reminder)
SPRINGFIELD The City of Springfield is very close to being granted a 15-year extension on the repayment of a $52 million bailout loan issued to them in 2004. The bill recently made its way through the House of Representatives and is expected to come before the Senate some time on Monday.
Chrysler Gets $4 Billion U.S. Government Loan (HispanicBusiness.com)
Chrysler LLC on Friday received an initial $4 billion emergency loan from the U.S. government, two days after the government completed a parallel payout to its larger rival General Motors Corp.
DM&E loan may have been possible today (The Gillette News-Record)
SIOUX FALLS, S.D. — For former Dakota, Minnesota and Eastern Railroad President Kevin Schieffer, timing could have been everything. A federal agency denied the DM&E a $2.3 billion loan two years ago.
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