Small business

The $2.2 billion-asset company disclosed in a regulatory filing that it redeemed $12.2 million, the remaining half of its SBLF shares, on Sept. 22 at a liquidation value of $1,000 each for $12.4 million.

Randolph Bancorp raised $57 million in a mutual-to-stock conversion and is using the proceeds to fund acquisitions — it closed its first-ever deal in July — and dramatically improve its digital capabilities.

Ten institutions are rising above national grievances to help startups – many minority owned – get up and running in a struggling mill town.

Carolina Premier Bank in Charlotte, N.C., has hired Don Jackson from Community One Bank in Asheboro, N.C., as director of Small Business Administration lending, a new position at the bank.

For large banks, the risks of partnering with marketplace lenders do not matter. But small community banks can't afford to partner with competitors angling to poach their customers.

For First Foundation, the government-backed program should help address a recent CRA exam's criticism that it has "poor penetration among businesses of different revenue sizes."

Fundation Group, a New York-based online small-business lender, announced Tuesday that it has secured a $100 million credit facility from Goldman Sachs.

The Ohio company is eager to rev up SBA lending in the Windy City now that it has closed on its purchase of FirstMerit. CEO Steve Steinour also credits his company's willingness to make big upfront community commitments for a seamless approval process.

United Community and Wells Fargo are among the banks building platforms to lend to senior-care facilities. Demographics suggest the business should grow significantly in coming years.

Online alternative financing can be an efficient source of capital for small businesses, but it can also be predatory, especially to unaware and inexperienced borrowers.