NATCHEZ — Callon Petroleum Company has completed a $100-million third amended and restated senior secured credit agreement with Regions Bank as the sole arranger and administrative agent. The credit agreement provides an initial borrowing base of $20 million, which will be reviewed and re-determined on a semi-annual basis. There are no borrowings outstanding under the [...] [...]
JACKSON — The U.S. Small Business Administration’s (SBA’s) Mississippi District Office continues to turn out big loan approval numbers in fiscal year 2010. “We started this fiscal year rolling out loans in the same manner we ended fiscal year 2009,” said Janita R. Stewart, SBA Mississippi district director. “The volume of loans approved, both in [...] [...]
The December Credit Managers’ Index (CMI) matched the mood of the economy as a whole — essentially flat, but showing some mild progress. The most important aspect of the report is that the index remained above the 50 mark that separates growth from contraction, and even showed a slight gain as it moved from 52.3 [...] [...]
TransUnion released its annual auto loan forecast indicating national auto loan delinquencies (the ratio of borrowers 60 or more days past due) will increase approximately 7 percent at the end of 2010 to 0.92 percent from an expected 0.86 percent at the conclusion of 2009. It forecasts that Mississippi will have the highest delinquency rate [...] [...]
Chicago-based TransUnion has released its annual credit forecasts, which indicate national mortgage loan delinquencies (the ratio of borrowers 60 or more days past due) will drop nearly 3 percent by the end of 2010 to 6.39 percent from an expected 6.56 percent at the conclusion of 2009. The projected decrease in mortgage delinquencies would end [...] [...]
JACKSON — The Mississippi U.S. Small Business Administration (SBA) approved 770 loans for Mississippi small businesses totaling approximately $144.93 million during fiscal year 2009 (Oct. 1, 2008 to Sept. 30, 2009). The Mississippi SBA Office made more loans in FY 2009 than in FY 2007 and 2008 — 623 loans valued at $107.05 million and [...] [...]
WASHINGTON — With the American Recovery and Reinvestment Act (ARRA) funding an additional $50 million for loans and $24 million for technical assistance, the U.S. Small Business Administration (SBA) is expanding its Microloan program and increasing access to capital for small businesses across the country. The program is shifting to funding provided under the ARRA [...] [...]
Lexaria Corp. announces that its July 10 financing was oversubscribed. The company will issue an additional 800,000 shares to have a total of 10,562,370 issued and outstanding, and has received cash proceeds of an additional $40,000. All shares issued in relation to the recent financings are restricted under various securities regulations. If all existing stock [...] [...]
PONTOTOC — ATEL Ventures, a San Francisco-based provider of secured financing to growth companies, has extended an asset-backed financing facility to waste-to-fuels company, Enerkem. Enerkem of Sherbrooke, Quebec, Canada, develops and produces of advanced biofuels and green chemicals from waste materials. It is currently operating its first commercial-scale plant in Westbury, Canada, and has announced [...] [...]
GULFPORT — Wolters Kluwer Financial Services announced today that Hancock Bank has joined its AppOne platform, a technology solution that helps connect lenders with automotive dealers and simplify the loan process. With access to AppOne’s network of more than 3,000 auto dealers, Hancock Bank will focus on building relationships with independent auto dealers looking for [...] [...]
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