West Virginia Attorney General Darrell McGraw said Monday that the money will be used to compensate customers of Indianapolis-based Preferred Financial Solutions Inc., doing business as CCR Now or Credit Card Relief Now.
Carmel-based insurance lender Oak Street Funding LLC announced Thursday that it has been purchased by private equity funds managed by New York-based Angelo Gordon & Co.
J.C. Hart Co. spent more than a year securing a $5 million bank loan to expand an existing project; Buckingham Cos. turned to the city to finance its ambitious project just north of the Eli Lilly and Co. campus.
Banking experts say the health of Indiana institutions is taking baby steps forward along with the tepid economic recovery. But in these times, recovery looks grimmer than one might expect.
Marathoner, mountain climber and career changer Reagan Rick approaches his work in finance with high energy and a lofty perspective. He discusses the thin air in today's lending environment.
The bank says Durham stopped making the required $18,329 monthly payments on the 30-year mortgage this spring.
A sign on the door of Durhams Ristorante says the moderately priced Italian eatery will be "closed until further notice."
Overseeing a portfolio filled with deteriorating loans is downright
excruciating, as lending officers who’ve lived through the carnage of the recession can attest. Rob Tolle apparently
cracked under the pressure.
Until the market stabilizes, appraisers will be operating in an environment where 20 to 50 percent drops in property values
aren’t uncommon.
Three of the four principals in Page Development were in court June 8 to sift through the fallout from a $1.35 million judgment
against them. It’s only the tip of Page Development’s financial straits.
Bangladesh-based Grameen Bank, the Nobel Peace Prize-winning financial institution that developed the concept of life-changing
micro loans for the poor, is contemplating opening its third U.S. branch in Indianapolis.
Credit problems continue to bedevil banks big and small, many of them caused by soured commercial real estate loans.
A new state program is encouraging lenders to promote the stability of their conventional mortgages to help Indiana's
housing market rebound from a foreclosure crisis instigated by risky loans.
The now-defunct Irwin Union Bank and Trust almost tripled in size from 2000 to 2005 as it extended credit to subprime mortgage
borrowers with insufficient collateral.
Borrowers may not be able to refinance many of the more than $1.4 trillion in commercial real estate mortgages coming due
by the end of 2014.
PNC Bank has about 80 bank branches and 1,100 employees in the Indianapolis area, all doing business under the National City
name.
Bank of America Corp. is arranging a five-year loan that will be sold at a discount of 98 cents to 98.5 cents on the dollar,
according to a source who declined to be identified because the discussions are private.
Dealer Services Corp. is an example of what happens when an entrepreneur sells his company to a bigger one and then comes
back to haunt it after he is tossed aside. In this case, the spurned entrepreneur, John Fuller, became a thorn to Adesa Inc.
a few years after its CEO sent him packing in late 2001.
Bank loans and credit cards are common solutions to small businesses’ cash-flow crunches, but small-business owners increasingly
have another option: using unpaid invoices as collateral to borrow money from investors.
The Columbia Club, the tradition-rich enclave where the city’s business elite have gathered and cut deals for more than a
century, is facing declining membership, the departure of its longtime general manager, and looming financial challenges–including
a $5.5 million loan that comes due this summer.
