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Tag Archives: financing

Enerkem rounds up another $30M in financing

CLARKSDALE — Enerkem Inc., a waste-to-biofuels and chemicals company, reports the closing of $30 million in additional financing through corporate equity ($15.3 million) and corporate debt ($15 million) transactions. As part of the equity financing round, The Westly Group, Fondaction CSN and Quince Associates, L.P. join existing investors Valero Energy Corp., Waste Management, Rho Ventures, Braemar Energy Ventures and Cycle ...

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Soladigm secures new financing from investors

OLIVE BRANCH — Soladigm has secured $30 million in Series C equity financing, and combined with previously announced manufacturing financing and other arrangements from the State of Mississippi will allow Soladigm to build and launch high-volume commercial operations and develop sales and marketing channels. Soladigm, developer of Dynamic Glass, is based in Milpitas, Calif. Last August, the company announced it ...

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Hope participating in Treasury program

JACKSON — Hope Federal Credit Union has closed a $4.52-million secondary capital investment through the Treasury Department’s Community Development Capital Initiative. According to Hope, it is one of the first credit unions to participate in this program, and will use the funds to increase financing to small businesses and home owners and promote development in economically distressed communities across the ...

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State's non-current loans still high

The latest Mortgage Monitor report released by Lender Processing Services Inc. shows that the total number of delinquent loans was 21.3 percent higher than the same period last year. Although the data showed a small 1.45 percent seasonal decline in delinquencies from Jan. 2010 to Feb. 2010 month-end, the national delinquency rate still stood at 10.2 percent. The report is ...

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CMI records significant sales increase

COLUMBIA, MD — The most striking aspect of this month’s Credit Managers’ Index (CMI), issued by the National Association of Credit Management (NACM), is that sales in both the manufacturing and service sectors jumped—and at a pace not seen in over a year. This reinforces the news from consumer demand studies showing that spending was up last month. The increase ...

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GE investing in Coast LNG terminal

PASCAGOULA — GE Energy Financial Services is investing $150 million in a liquefied natural gas receiving terminal under construction in Mississippi that will increase natural gas supplies to the Northeast and Southeast. The business unit of GE is acquiring Houston-based investor Crest Group’s 30 percent interest in the fully contracted $1.1-billion Gulf LNG Energy terminal, expected to be completed late ...

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SBA proposes new rule for female entrepreneurs

WASHINGTON — The U.S. Small Business Administration (SBA) has released a proposed rule aimed at expanding federal contracting opportunities for women-owned small businesses (WOSB). The proposed rule is available for public comment for 60 days. This proposed rule identifies 83 industries in which WOSBs are under-represented or substantially under-represented in the federal contract marketplace. This rule is aimed at providing ...

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MGM Mirage amends credit facility

LAS VEGAS — MGM Mirage is seeking amendments to its aggregate $5.55 billion of senior credit facilities, which would extend the maturity of a substantial portion of those credit facilities from Oct. 3, 2011, to Feb. 21, 2014. The company has asked its lenders to provide their final approvals of the transaction by Feb. 24. Lenders approving the proposed amendments ...

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CMI moves in positive direction

COLUMBIA, Md. — The latest data is starting to turn in a decidedly positive direction; GDP numbers are the best in over a year and a half, suggesting that the recession is in clear retreat. After a mild recovery in the third quarter, numbers jumped 5.8 percent in the fourth. The bulk of this growth is attributed to manufacturers starting ...

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Callon works new deal with Regions

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 credit agreement, which matures Sept. ...

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