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Banking & Finance

Putting families back in homes

  Neighborhood program putting families back in their homes   There can be a snowball effect when a large number of foreclosures hit a neighborhood. Who wants to buy a home when prices are declining and many homes in the neighborhood are vacant with unkempt yards because of foreclosures? But, now there is an opportunity to turn things around with federal ...

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SBA posting on YouTube

WASHINGTON — The U.S. Small Business Administration (SBA) has begun posting informational videos on YouTube as it joins an increasing trend within the federal government to use the video-sharing web platform to reach a larger audience. “With millions of visitors, most of them under 35, YouTube offers a prime opportunity to use current technology and the appeal of a popular ...

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Federal contract awards hit all-time high

WASHINGTON — Small businesses won a record $93.3 billion in federal prime contracts in fiscal year 2008 (Oct. 1, 2007-Sept. 30, 2008), an increase of almost $10 billion from 2007, according to the U.S. Small Business Administration’s (SBA’s) third-annual small business procurement scorecard. In addition, small disadvantaged businesses, women-owned businesses and service-disabled veteran-owned businesses increased their share of federal contracting ...

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SBA program enhanced by ARRA

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 now that it has exhausted ...

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Intechra purchased by N.Y. firm

August 14, 2009 JACKSON — Environmental Capital Partners (ECP), a New York-based private equity firm, with its affiliates has acquired the assets of Intechra Holding Corporation (IHC), the independent IT asset disposition company. Terms were not disclosed. The IHC assets were purchased from its lender, Marathon Asset Management, through Intechra Group, LLC (Intechra), a newly formed company. Affiliates of Marathon have ...

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What now? An investment portfolio recovery plan

As we all have witnessed, the past year and a half has seen significant market swings and volatility.  The impact on your emotions and investment decisions has been just as significant.  With seemingly daily headlines of gloom and doom — the war in Iraq, inflation, fraud and seemingly endless government spending — it is often difficult to remain optimistic.  However, ...

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Credit unions have beaten back economy, to this point

The first two quarters have not been the best of times for Mississippi banks, with a lot of them posting substantial losses. It’s a local symptom of a national trend that has seen dozens of banks across the nation fail outright as the recession tightens its grip on financial institutions. One sector of the financial services industry that has beaten ...

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Young bankers: current environment not ideal

Students focusing on finance have seen job opportunities at financial institutions dwindle Gulfport resident Jason, who didn’t want his last name used, graduated five years ago with a degree in banking and finance and went to work for a large regional bank as a loan officer. He quickly found out that the customer service side of banking was not a ...

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Commercial loans – who needs them?

Lenders see fewer prospective borrowers during difficult economic times   Lenders are reporting they are ready and willing to make commercial and industrial loans. However, they are seeing few takers these days. With consumer spending down and businesses cutting back, prospective commercial borrowers have little use for a loan. “Demand for commercial loans has been soft the last six to ...

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Loans still available for agribusiness

Creditworthiness the key concern While the agribusiness sector is facing many challenges, the availability of credit is not one of them. Rather, the concern is whether producers can remain creditworthy in a very difficult environment. This has both lenders and producers nervous. “(Credit availability) has not really been an issue,” said David Waide, president of the Mississippi Farm Bureau Federation ...

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