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Banking & Finance

SBIC program augmented

WASHINGTON — Small businesses that would otherwise have difficulty securing private equity or venture capital may find funding easier to get as a result of changes made as part of the American Recovery and Reinvestment Act to the U.S. Small Business Administration’s (SBA’s) Small Business Investment Company (SBIC) program. SBICs are privately owned and managed venture capital firms that are ...

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Renasant files with SEC

TUPELO — Renasant Corporation has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC). The shelf registration statement, once the SEC declares it effective, will allow the company to raise capital from time to time, up to an aggregate of $150 million, through the sale of common or preferred stock, warrants and units or ...

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Medley and Brown ranked again

JACKSON — Medley and Brown, LLC has been recognized by Wealth Manager magazine as one of the nation’s top wealth managers. Medley & Brown said it has now appeared on Wealth Manager’s list of the country’s top wealth managers the last seven years, making it the only Mississippi firm to do so. Selection to the “The 2009 Top Wealth Managers” ...

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Hancock Bank adopts AppOne

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 finance sources within their geographic ...

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Renasant incorporates social media tools

TUPELO — Renasant Bank has officially joined the social media worlds of Twitter and Facebook. Twitter users can follow Renasant at twitter/renasant.com or @renasant and Facebook users can follow the bank through Fans of Renasant Renewal, which is the bank’s ongoing green initiative. “While social sites have been in use for a while, we decided that Twitter and Facebook gives ...

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CMI continues to rise

COLUMBIA, Md. — The latest Credit Managers’ Index (CMI) is holding steady and showing stability in the credit sector. “The data has not yet been enough to push past the point of contraction to expansion, but it is getting ever closer to that point, suggesting that expansion is only a month or two away,” said Dr. Chris Kuehl, the National ...

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Signs, logos change to HOPE

JACKSON — While Hope Community Credit Union (HOPE) and American Savings Credit Union (ASCU) officially merged Jan. 1, 2009, today all ASCU branches in Arkansas, Mississippi and Tennessee will convert their signage to the HOPE name and logo. The two entities said the merger formed a larger, stronger community development financial institution that serves working families throughout the mid-South. The ...

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SBA program sees record response

WASHINGTON — In just two year’s time, the SBA’s Patriot Express Pilot Loan Initiative has supported more than $315 million in loans to more than 3,750 veterans and their spouses who are using the SBA-guaranteed funds to establish and expand their small businesses. As a result of the American  Recovery and Reinvestment Act, which raised loan guarantees to 90 percent, ...

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SBA loan program revised

WASHINGTON — Small businesses seeking to expand will be able to refinance existing loans used to purchase real estate and other fixed assets as a result of permanent changes to the U.S. Small Business Administration’s (SBA’s) 504 Certified Development Company loan program. The changes were authorized in the American Recovery and Reinvestment Act of 2009. The permanent changes will allow ...

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Van Nesses chosen as managing editors

OXFORD — Bonnie and Robert Van Ness, professors of finance at the University of Mississippi, have been selected as managing editors for The Financial Review. “This is going to be something new and unique within our careers,” Robert said. “My wife and I have published over 50 journal articles, and this will give us the opportunity to deal with the ...

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