San Diego Business Journal


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

SDCCU Increases Its Membership Nearly 10%

San Diego County Credit Union’s assets grew about 1.4 percent in the second quarter reaching nearly $7.6 billion, the credit union said Aug. 25 in an earnings report.

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Fundraiser Supports Seniors in Need At Seacrest Village

Guardians of San Diego’s 25th Annual Golf & Tennis Tournament was held at the Del Mar Country Club and presented by the William Gumpert Foundation.

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National Funding’s Lending Strategy Proves to Be on Target

FINANCE: Small Biz Lender Expects $75M In Revenue for 2016

While online lenders such as Prosper Marketplace and Lending Club that facilitate peer-to-peer lending are struggling, a San Diego-based small business lender expects to rake in $75 million in revenue by year’s end.

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Lessen The Burden

Software Takes Much of the Pain Out of Filing Development Profiles on Children

Gene Shi and Lala Zhang probably would not have built their particular business without the arrival of their daughter, Audrey.

Bridge Fund’s Aim Is To Get Cash to Cos.

FINANCE: Funding’s Focus Is New Crowdfunding Option

New federal regulations that went into effect earlier this year have loosened the rules around how startups seeking capital can leverage individuals’ interest in supporting new enterprises — and some local businesspeople are positioning themselves to benefit.

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CONNECT Partners with DeskHub, Opens New Location

Local startup accelerator, CONNECT, is partnering with DeskHub, one of San Diego’s biggest coworking spaces.

JPMorgan Chase & Co. Announces $600,000 Grant to Accion

The San Diego branch of global nonprofit microlender Accion will receive a $600,000 grant in two installments from JPMorgan Chase & Co., the organization announced Aug. 25.

Local Hotel Revenue Up 3.5 Percent in First Seven Months of 2016

San Diego County hotel revenue rose 3.5 percent from a year ago, topping $1.6 billion for the first seven months of 2016, even as occupancy dipped 0.4 percent to 78.4 percent, according to the latest monthly data from research firm STR.

CONNECT Launches Investor Syndicate to Fuel Startups

San Diego’s business accelerator CONNECT is launching a new investor syndicate to help fund “disruptive” technology and life science startups in San Diego.

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Bocce Ball Championship’s Fundraising Role Is a Big Winner

The North County Athletic Association announced that Vigilucci’s Beach Bocce World Championship XXXVI attracted more than 1,000 people to Del Mar’s Dog Beach. Raising more than $100,000 this year and more than $1 million since its inception, the tournament sold out in under an hour when tickets were made available in the spring.

Local Bank Enters $6 Million Recapitalization Agreement

San Diego’s only community development financial institution, or CDFI, announced a $6 million recapitalization agreement.

Prosecutors Charge 2 With Insider Trading

FINANCE: Case Involved Tip on Biotech Acquisition

Federal prosecutors have charged two San Diego businessmen with insider trading for using a confidential tip to snag $83,000 in profit when local biotech Ardea Biosciences was acquired in 2012.

PICO Cuts Down on Losses and Apparently In-Fighting, Too

FINANCE: Loss for Company’s First Half Is $10.2 Million

La Jolla-based PICO Holdings Inc., a company with interest in water and land rights, reported a net loss of $3.4 million in the second quarter, a significant improvement from the $49.8 million loss the company reported last year in the second quarter.

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Smart Money

VC Firm’s Investments Are About Converting Data Into Dollars

A venture capital firm interested in funding local software startups has launched a new fund in San Diego — possibly the first of its kind.

Majority of Region's Businesses Say Housing Costs Are Too Expensive

More than 90 percent of San Diego-area businesses believe the region’s housing has become too expensive, and most think more residences should be built, according to survey results released Wednesday.