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Study: Small businesses in Detroit lack access to loans
Annalise Frank - Businesses in low-income census areas make up about 10 percent of businesses in the Detroit region, but they receive just 5 percent of smaller-value loans, the Chicago-based Woodstock...
View ArticleEsperion launches new stock offering to raise $151.9 million
Kurt Nagl - The Ann Arbor-based company will use the proceeds to continue funding clinical trials of its cholesterol-combating drugs and new drug applications.
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Applebee's-IHOP restaurant in Detroit safe amid closures around country
Kurt Nagl - The hybrid eatery is set to open downtown in March as parent company DineEquity Inc. announces it is closing up to 160 underperforming locations.
View ArticleQuicken Loans state PAC has gone dormant
Chad Livengood - Last May, the company's PAC issued $238,000 in refunds to 30 individuals, most of whom appear to be executives at Quicken Loans or other companies owned by Quicken founder and Chairman...
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United Shore promotes Sarah DeCiantis to chief marketing officer
Tyler Clifford - DeCiantis, who had been vice president of marketing, replaces Barbara Yolles, who left for The Money Source Inc. in New York.
View ArticleA banker's worries, outside bankers' hours
Ron Fournier - During an interview in his Farmington Hills office, the latest in a series of conversations Ron Fournier is conducting with business leaders about their biggest worries, Elliott said his...
View ArticleCredit agencies maintain Michigan bond ratings
Lindsay VanHulle - The bonds will be used to pay for programs related to the environment, natural resources and water quality managed by the Michigan Department of Environmental Quality.
View ArticleBenzinga founder rolls out Detroit Fintech Association
Kurt Nagl - The group aims to create a more unified ecosystem of local technology-driven financial services businesses.
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Fitch bumps up Wayne County Airport Authority's credit rating
Annalise Frank - The rating agency increased the Detroit Metropolitan Airport operator's rating from A- to A. Proceeds from this year's airport revenue bonds will go toward improving airport...
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Experts worry uncertainty could hurt market
Tom Henderson - For our annual special report, we talked to 12 local wealth managers about the trends they're seeing and their insights about what's coming in 2018.
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Shinola's new pitch: the installment plan
Annalise Frank - The three-, six- or 12-month payment plans offered at checkout on Shinola.com through vendor Affirm are part of the Detroit-based company's effort to capture the 18-34 market.
View ArticlePlante Moran opens Tokyo office
Tom Henderson - Southfield-based Plante Moran PLLC, one of the nation's largest accounting and business advisory firms, has opened an office in Tokyo.
View ArticleMoody's upgrades Detroit credit rating a notch
Chad Livengood - The Wall Street credit rating agency cited the city's improved fund balance and long-term pension-funding strategy, giving the city its highest rating since March 2012.
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Detroit leveraging state gas tax hike to jump-start street repairs
Chad Livengood - The city plans to begin improvements along commercial corridors by borrowing $124.5 million from JPMorgan Chase & Co. with the city's share of Michigan's new road funding from...
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UBS to open downtown Detroit office
Annalise Frank - The 13,000-square-foot space in two buildings on Woodward owned by Bedrock LLC will feature space that community organizations can use at no charge.
View ArticleAmway names new CFO
Kurt Nagl - Nick Thole takes up the role amid declining sales at the Ada-based multilevel direct sales company.
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Olympia to pay off $200 million in Little Caesars Arena bonds this month
Bill Shea - Under a deal approved Wednesday afternoon by the Detroit Downtown Development Authority, which owns the new stadium, the 2014 Series B bonds will be moved onto the books of the Ilitch...
View ArticleTraverse City business loan group gets assistance
Associated Press - Venture North received two $500,000 loans, bringing its lending capacity above $6 million.
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Detroit closes gap in debt delinquency rates
Kirk Pinho - Metro Detroit's debt delinquency is closer to the national average than it's been in the last decade. That could trigger interest from large institutional investors who had blacked out the...
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