San Diego Business Journal

SD FINANCE

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

County Credit Unions Lend $10.5 Billion in Q3

San Diego County’s 20 credit unions loaned out $10.5 billion to their members in the quarter ending September 30, up 17 percent from last year, the California Credit Union League said.

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Urban Campout Helps Girls Scouts of Today and Tomorrow

Girl Scouts San Diego’s 18th annual fundraiser, Urban Campout: Island Treasures, raised $385,000 to keep Girl Scouting available and affordable for 40,000 girl and adult members. A portion of the proceeds is earmarked for construction of a new cabin at Girl Scouts’ Balboa Campus. Karen Benito and Denise Scott co-chaired the event and Taylor Baldwin and Elizabeth Dewberry were honorary co-chairs. Qualcomm Inc. was the lead sponsor. San Diego Police Chief Shelley Zimmerman, a Girl Scouts board member, and Councilman Todd Gloria participated in the program.

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Bitcoin: Still in Search of Satoshi Nakamoto and Acceptance

FINANCE: Nasdaq, Banks Interested in Using Currency’s Technology

Bitcoin, the decentralized digital currency, entered the mainstream consciousness again this month as two publications thought they had finally unmasked its mysterious creator, who used the pseudonym Satoshi Nakamoto. The outlets, Wired and Gizmodo, soon uncovered new information suggesting they may have been convinced by a hoax, adding another wrinkle to the years-long search for Nakamoto’s identity.

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Real Estate Investing To Be Less Walled-Off

FINANCE: Crowdfunding Co.Inviting Wider Participation

Investing in real estate used to hinge on whom you knew — developers and their brokers tapped clients, friends and family to raise the needed cash to buy, build or refurbish a property.

S.D. Chamber Survey Finds Business Confidence Lagging

Confidence among San Diego businesses fell for the fifth straight month to yet another record low in November, with more than a tenth expecting revenue to decline in the near future.

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Little Italy Apartment Building Sells for $5.5 Million

Newkirk Family Trust II of San Diego has acquired the newly built Ten on Columbia, a 10-unit apartment property in Little Italy, for $5.5 million, according to brokerage company Colliers International.

EDC Announces Relaunch of World Trade Center San Diego

The San Diego Regional Economic Development Corp. recently announced that it was relaunching World Trade Center San Diego, a nonprofit which aims to help businesses improve their international reach.

National Funding's Line of Credit Gets $25 Million Boost

Alternative lender National Funding got a bump in its $50 million line of credit from Pacific Western Bank, bringing it up to $75 million, the company said Wednesday.

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Voices’ Wish List Gets Big Boost from Starry Starry Night

Starry Starry Night, Voices for Children’s signature gala, had a record-breaking year, raising $1.37 million for foster children in San Diego County.

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Gala Recognizes Some Dogged Efforts to Keep San Diego Safe

The San Diego Police Foundation’s fourth annual Gold Shield Gala recently honored police dogs and their officers as “superheroes.”

Nixon Departs; CB&T Revamps Leadership

BANKING: Parent Zions Is Consolidating Charters

Tory Nixon, the head of San Diego and Northern California operations for California Bank & Trust, left the bank last month for a leadership role at Portland-based Umpqua Bank, as CB&T promoted CFO Eric Ellingsen to president.

Expected Local Holiday Spending Pegged at $5.3 Billion

San Diego retailers and restaurateurs can expect a sizeable holiday season, with a projected $5.3 billion to be spent here in December, according to an estimate from the San Diego Association of Governments, a regional planning agency.

North County Credit Union to Merge With Sony San Diego Employees Federal Credit Union

North County Credit Union will merge with Sony San Diego Employees Federal Credit Union, taking over Sony’s 767 members, North County said Tuesday.

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Boys & Girls Clubs of Carlsbad Get Some Helping Hands

The La Costa 35 Athletic Club, a local nonprofit, hosted its 5th Annual Texas Hold ‘Em Poker Tournament, benefiting the Boys & Girls Clubs of Carlsbad. Since its first tourney, the program has more than doubled in attendance and raised more than $100,000. Tournament Director Rob Holzman said there were 20 poker tables, 180 players and net proceeds of more than $45,000 for the Boys & Girls Clubs of Carlsbad — a record.

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Lenders Work to Meet Retailers’ Loan Demand During Holidays

FINANCE: Inventory Lending Can Be Risky, Attracts Alternative Lenders

The holiday shopping season can be extremely lucrative for retailers. Sales during November and December account for up to 40 percent of some retailers’ annual revenue, according to the National Retail Federation. And a Gallup poll this month showed U.S. shoppers anticipate spending an average of $830 this holiday, the highest spending estimate since 2007.