San Diego Business Journal

SD FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

SmartDrive Systems Raises $50 Million in Venture Funding

SmartDrive Systems said on March 30 that it raised $50 million of additional venture funding.

By Brad Graves March 31, 2015 3:08 p.m.   Share
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Emmes Gets $130 Million in Refinancing for Downtown Tower

An affiliate of property owner Emmes Group of Cos. has received $130 million in first mortgage debt to recapitalize 1 Columbia Place, its office tower at 401 W. A St. in downtown San Diego.

Birnie Appointed CEO of Pacific Marine Credit Union

Oceanside-based Pacific Marine Credit Union said it had appointed the former president of Orange County’s Eagle Community Credit Union as Pacific Marine's CEO.

Unemployment Rate for County Increases in July

Unemployment in San Diego ticked up to 5.4 percent in July, up from 5 percent the month before, with the region losing about 2,500 industry jobs since June.

Business Confidence Falls Slightly in July, Chamber Reports

The San Diego Regional Chamber of Commerce’s Business Forecast fell in July to its lowest point in a year, though the Chamber said the decline from June was statistically insignificant.

Seacoast Commerce Bank Announces Two Benchmarks

Seacoast Commerce Bank announced two benchmarks on Thursday: it had more than $500 million in assets and had gotten over $1 billion in loans approved by the U.S. Small Business Administration.

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Looking For A Venture

LEADERSHIP: Entrepreneur Keeps an Eye Out for Opportunity and Helps Others Discover the Business World

Al Darnell Jr. is a serial entrepreneur. In the past decade, he’s started a half-dozen companies, including a cleaning service, a mortgage brokerage and a network of 25-cent gumball machines.

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‘HI!’ TECH

STARTUP: App Helps the Introverted and Others Make Connections at Conferences

Yuanyuan Zhou’s top computer science students not only have to put their minds to work. They need to get out there and shake some hands.

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New ConAm Executive to Oversee Multifamily Property Management

The ConAm Group of Companies (ConAm) has named Julie Brawn-Whitesides as its new executive vice president of property management, as the San Diego-based firm aims to grow its national multifamily property management portfolio.

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ROIC Reports Increase in Second-Quarter Revenue

Retail Opportunity Investments Corp., also known as ROIC, reported total revenue of $46.2 million for its second quarter ending June 30, up from $36.9 million in the year-ago quarter.

Events.com, CrowdRise Partner to Create More Integrated Fundraising Platform

San Diego-based Events.com, an event management platform that facilitates the hosting and attending of events, and CrowdRise, an online platform dedicated exclusively to charitable fundraising, recently announced a partnership that will offer an integrated fundraising experience on one platform.

Spy Inc. Reports Net Loss of $516,000 in Q2

Spy Inc., the Carlsbad-based maker of glasses and goggles which come with an edgy attitude, reported a net loss of $516,000, or 4 cents per share, on net sales of $8.12 million in its second quarter, which ended June 30.

City Pushes New Stadium Finance Plan

City and county leaders have put forward a revised financing plan, renderings and draft environmental impact report for a proposed Mission Valley stadium, aiming for a January public vote contingent on the San Diego Chargers returning to negotiations.

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Rate Hike Reverberations Would Be Felt By Credit Unions

FINANCE: Conference Sees Long-Term Loans, Deposit Pictures Changing

Credit unions are preparing for a possible increase in Federal Reserve-controlled interest rates next month and the risk it could create for balance sheets with significant levels of long-term assets.

Ossic Is Attemping to Do Its Part for Virtual Reality: the Ears

STARTUP: Efforts at Audio Being Made to ‘Catch Up’ To Video Performance

Put on a pair of virtual reality goggles and your eyes start playing tricks on you.

Banks Lower Bar On Jumbo Loans

FINANCE: Hot High-End Market Stokes Competition

JPMorgan Chase & Co. is relaxing lending requirements for mortgages up to $3 million, the latest in a series of moves by major banks to allow higher-end borrowers to buy homes with smaller down payments and lower credit scores as investor demand for quality mortgages increases.