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Business Optimism Hits New Low
Posted on December 16th, 2008 No commentsSmall business owners’ optimism has fallen to its lowest level since Wells Fargo & Co. and Gallup began conducting their monthly small business index in 2003. The index for November was 10, a 35-point drop since last quarter and down significantly from the high of 104 points in December 2006. Still, four out of five small business owners said they do not perceive credit as difficult to obtain, theBusiness Journal reported.
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Survey: Wis. Companies Hopeful
Posted on December 16th, 2008 No commentsBusinesses in Milwaukee and Waukesha counties expect economic improvements in 2009, according to a report released this morning by Madison-based First Business Bank, Carroll University of Waukesha and the University of Wisconsin-Madison’s A.C. Nielsen Center of Marketing Research. Read the Small Business Times article.
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New Angel Network Formed
Posted on December 16th, 2008 No commentsThe Lake Superior Angel Network, a new angel investing group interested in making early stage investments in an area that stretches from Duluth, Minn. to Ironwood, Mich., has been established with about 25 investors and organizers, according to the Small Business Times.
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Mid America Plans Brookfield Location
Posted on December 16th, 2008 No commentsMid America Bank, a Janesville-based bank with about $45 million in total assets and three branches, will open a 1,450-square-foot loan production office in Brookfield in March, the Small Business Times reported.
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Nonprofit Lender Plans Milwaukee Office
Posted on December 16th, 2008 No commentsIFF, formerly known as the Illinois Facilities Fund, plans to open a new office in Milwaukee next year. IFF is the leading nonprofit community development financial institution in the Midwest. Read more in the Small Business Times or theMilwaukee Journal Sentinel.
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Associated is Biggest SBA Lender
Posted on December 12th, 2008 No commentsAssociated Bank once again is Wisconsin’s top Small Business Administration lender, making 400 SBA loans totaling $30 million in the 2008 fiscal year, theMilwaukee Journal Sentinel reported.
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Mortgage Mediation Proposed
Posted on December 12th, 2008 No commentsA lender would have to offer mediation to homeowners in default on their mortgage before foreclosure could proceed, under legislation state Sen. Lena Taylor said she will propose. Her Mortgage Mediation Act would let borrowers negotiate remedies such as adjusting the interest rate or principal, extending the repayment period, or modifying loan terms, according to a story in the Milwaukee Journal Sentinel.
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Family Change at InvestorsBank
Posted on December 12th, 2008 No commentsThe two daughters of InvestorsBank founder and chief executive officer George Schonath have taken 100 percent voting control of the bank after their father’s recent death from cancer, while Timothy Schadeberg serves as president of the $281 million-asset Pewaukee bank, the Business Journal of Milwaukee reported.
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Bill Gives Retirees New Option
Posted on December 12th, 2008 No commentsCongressman James Sensenbrenner is co-sponsoring federal legislation that would suspend the mandatory minimum withdrawal requirement from retirement accounts for 2008 and 2009, allowing retirees age 70˝ and older to keep their money in the market if they choose. Read more in the Business Journal of Milwaukee.
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Wis. Securities Law Updated
Posted on December 12th, 2008 No commentsThe market outlook may not look good, but the state of Wisconsin has recently adopted legislation to protect consumers and companies who deal in securities. On Jan. 1, 2009, a state-adapted version of the National Conference of Commissioners on Uniform State Laws’ 2002 Uniform Securities Act will go into effect and marks the first major overhaul of the law in 40 years, the Small Business Times reported.