Washington Square owner Simon not paying on $12.8M loan
Traffic is low and vacancies are high at Washington Square Mall, the most troubled local property for Indianapolis-based mall giant Simon Property Group Inc.
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Shelbyville’s SCB Bank scrambles for capital
A Shelbyville-based bank appears to have missed a federally mandated deadline for boosting its capital levels, a failure that might put it at risk of government takeover.
Farm-profit volatility boosting risk for lenders, economist says
U.S. farmers face increased financial risk because of higher operating costs and volatile commodity prices, even as income this year reaches a record, said Michael Boehlje, an economist at Purdue University.
Bank to report loss on sour Indianapolis loans
Columbus-based Indiana Community Bancorp, parent of Indiana Bank & Trust, said it will write off $13.3 million for the third quarter, primarily due to nine commercial customers in the Indianapolis area with total loan balances of $32.7 million.
WOJTOWICZ: Character always counts—even in loan decisions
During these difficult times, small-business lenders are looking harder at intangibles—including a borrower’s character.
U.S. student-loan default rates jump sharply
The national two-year default rate rose to 8.8 percent last year, from 7 percent in fiscal 2008, according to the Department of Education. Driving the increase was an especially sharp increase among students who borrow from the government to attend for-profit colleges.
Indianapolis-based banks struggle to emerge from slump
Indiana regional banks and national institutions are faring better, a possible indication that Indianapolis’ economy isn’t recovering as quickly as expected.
Global micro lender Grameen ramps up in Indianapolis
Low-income women could receive loans in weeks.
Small Business Administration announces top state lender
The Indiana Statewide Certified Development Corp. has been recognized as the most robust lender through the SBA’s 504 loan program.
Lender’s suit says homebuilder owes $12.8M on loans
M&I Bank filed the suit against J. Greg Allen, charging he defaulted on two loans he took out to buy 73 acres of land on the northeast corner of Emerson Avenue and County Line Road on Indianapolis’ south side.
Smulyan says Emmis ready ‘to go back on offensive’
Emmis' sale of two stations in Chicago and one in New York City will allow the company to chop more than $100 million off its $331 million in long-term debt—clearing the way for it to arrange a refinancing under favorable terms.
Lender purchases Renaissance Bay in sheriff’s sale
Fort Wayne-based Star Financial Bank, which is trying to recover some of the more than $23 million it loaned for the condominium project, submitted the only bid for it on Wednesday. The bank said several potential buyers are interested in the property.
Fair Finance trustee sues National Lampoon
Fair Finance Co.’s bankruptcy trustee this week sued National Lampoon Inc. seeking to recover millions of dollars that indicted financier Tim Durham provided the ailing Los Angeles-based comedy business over the past decade.
Effort to save minority car dealer lands Bill Mays in ditch
PNC Bank last month sued Mays, one of the city’s most prominent black businessmen, charging he defaulted on a $3.5 million loan he received in 2008 that has an unpaid balance of $2 million.
Renaissance Bay heads for sheriff’s sale
A $150 million project that slammed head-first into the recession is slated for a sheriff's sale later this month.
WOJTOWICZ: Relief available for firms with falling real estate values
New law allows banks to refinance existing real estate and equipment debt through the U.S. Small Business Administration 504 loan program.
Merrillville-based bank targets Carmel
Centier Bank, a financial firm with 45 branches in northwest Indiana, has opened a business banking office in Carmel and is considering future expansion in the Indianapolis-area market.
Grameen Bank to open Indianapolis branch
City would become third U.S. location for lender that makes small business microloans to the poor.
Bank seeks foreclosure on two strip centers
First Financial Bank in Ohio is asking a Marion Superior Court judge to appoint a receiver for Woodland Shops on the city’s northwest side and Lakewood Shops on the northeast side.
Local banks see small-business lending surging
Chase and Fifth Third of Indiana saw 57-percent and 56-percent spikes, respectively, in loans to state businesses last year. They forecast similar growth this year.