SD FINANCERecent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
Carlsbad-based Dealstruck, an online provider of lending solutions for small- and medium-sized businesses, announced that it received a $10 million capital investment from Community Investment Management LLC.
ECONOMY: Investor Pressure Changes Board; Split Is on Table
Wireless communications giant Qualcomm Inc. said July 22 that it plans to lay off 4,500 employees as part of an effort to streamline its business.
FINANCE: Activity Drops in Late Round, Seed Stage Grows
Venture capital investments slowed significantly in San Diego last quarter even as private equity dollars surged nationwide, according to two prominent reports.
Mitek Systems Inc., creator of mobile check deposit technology, said Thursday it saw record third-quarter revenue of $6.4 million in the three months ending in June, up nearly 38 percent from the same period last year.
Wireless communications giant Qualcomm Inc. plans to lay off 15 percent of its staff as part of what it calls a “strategic realignment.” The company laid out its plan on July 22.
Grandpoint Bank and its three divisions, including La Jolla-based Regents Bank, reported on Tuesday a second-quarter net income of $7.3 million, up 62 percent from the $4.5 million during the same period last year.
Unemployment in San Diego rose slightly to 5 percent in June, up from a revised 4.9 percent in May, as the region added 4,200 jobs.
FINANCE: Payroll Deductions Are a Key Part of Lowering Risk
Borrowers looking for a loan of $1,000 or less typically have limited choices. Banks say the interest and fees often aren’t enough to make the loan profitable, as the origination and servicing costs are just as high as more traditional loans. Payday loans require fast payback and carry high annualized interest rates.
ECONOMY: IP Prowess Seen In Region’s Rankings
If patents are a measure of brainpower, the region is awash in gray matter.
What Price Would S.D. Pay If the Chargers Leave Town?
San Diego native Rafael Alvarez remembers coming across a homeless person in Barrio Logan a few years back, and recalls that despite having a hard life, the man proudly sported a San Diego Chargers cap.
The board in charge of the San Diego County Employees Retirement Association voted Thursday to formally end its agreement with investment managers Salient Partners after hiring an internal investment officer to take over management of the $10.6 billion fund.
Second-quarter net income for Seacoast Commerce Banc Holdings, the parent company for Seacoast Commerce Bank, rose nearly a $1 million since last year, to $1.4 million, the company’s 20th consecutive quarterly profit.
San Diego saw 1,735 completed foreclosures in the year ending in May, down about 4 percent from 1,809 the year before, as foreclosures dropped sharply nationwide, according to data from CoreLogic.
ECONOMY: Rapid Growth Can Bring New Concerns, Distractions
Doubling or even tripling revenues in just two years is a dream for many entrepreneurs, a sign they correctly spotted an unmet need and that their business could soon be an unqualified success.
ECONOMY: Company Appoints Executive Wes Brazell CFO
Yet another San Diego company is moving to Texas.