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Trucking companies saw a boom during COVID as homebound consumers spent big on goods that needed to be shipped. Now comes the bust, with some firms going bankrupt or struggling to pay back their loans.
June 20
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The construction manager for the beleaguered New Jersey mall is suing JPMorgan Chase & Co. to recover more than $30 million of unpaid work and accrued interest.
June 20
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The American Bankers Association's Economic Advisory Committee said access to loans is likely to further soften, while defaults and credit losses could increase in the second half of the year.
June 20
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The American Bankers Association's credit conditions index remained near historic lows despite a slight uptick in the most recent quarter. Pessimism pervaded the outlook for both business and consumer lending.
June 16
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Lake Trust Credit Union in Brighton, Michigan, works with a development agency in Lansing to provide entrepreneurs with the financial and educational support they need to go it alone.
June 16
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As it pushes the boundaries of its Midwestern footprint, the Columbus, Ohio-based bank is on pace to book more than 6,000 7(a) loans in SBA's 2023 fiscal year, the biggest total in seven years.
June 16
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The pro football league plans to borrow up to $78 million over the next three years from 16 financial institutions, most of which are Black-owned or Black-led. It follows the lead of Major League Soccer, which announced a similar plan last year.
June 15
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New loan acquisitions fell to their lowest level since 2020, but companies also grew shares of residential securities noticeably over the past three years, S&P Global Market Intelligence said.
June 13
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