Banking & Finance
KeyBank Lends $3B to Women-Owned Businesses
Tuesday, February 28, 2012CLEVELAND-- KeyBank has surpassed its goal to provide $3 billion in loans to women-owned businesses by April -- three months ahead of its target. Key's achievement includes loans to businesses of all sizes.
More Americans Saving Tax Refunds This Year
Monday, February 27, 2012WASHINGTON -- Whether they’re putting it aside for a rainy day or a big getaway, more Americans this year plan to save -- not spend -- their tax refunds this year. Of those expecting refunds, 43.8% will stash some of the cash in savings, up from 42.1% who said the same last year.
That's the highest percentage in the nine-year history of the National Retail Federation's Tax Returns Consumer Survey conducted by BIGinsight. This year, 66.2% of taxpayers are expecting a refund, the exact same as last year.
YNDC Unveils Mortgage Fund for Neighborhoods
Friday, February 24, 2012VIENNA TOWNSHIP, Ohio -- A loan fund launched yesterday with $1 million by the Youngstown Neighborhood Development Corp. will target inner-city neighborhoods, with at least part of the funds set aside for veterans of the armed forces.
Presley Gillespie, executive director of Youngstown Neighborhood Development Corp., announced the new community loan fund at the Veterans Hiring Event and Life Advancement Fair for the oil and gas industry held at the Youngstown air Reserve Station.
Farmers Trust Cuts Ribbon at New Headquarters
Thursday, February 23, 2012BOARDMAN, Ohio – Jim Sisek likened Farmers Trust Co.’s first 16 years at its former space at City Centre One in downtown Youngstown to the early years of a marriage. “You have an apartment and after a few years it’s time to buy your home and make some permanent arrangements,” he remarked.
Bankers Report Demand Up for Commercial Loans
Wednesday, February 22, 2012YOUNGSTOWN, Ohio -- As the recovery strengthens, small businesses have not only gotten back in the water, they’re swimming with vigor.
The demand for loans is up, commercial lenders report, as their customers need money to buy new or replace old equipment, expand their operations or acquire commercial real estate.
Their cash flow is much improved and the businesses have healthier balance sheets, lenders say, thereby reducing the risk they assume.