Sign In
Free Newsletter
Walker & Dunlop buys loan business
Walker & Dunlop, of Bethesda, a provider of commercial real estate financing services, announced it has a deal to acquire Johnson Capital’s loan origination and servicing business. Johnson Capital, a commercial real estate mortgage company, has originated $1.3 billion in commercial loans on average over the past three years. Walker & Dunlop will add about […]
Deadline nears for SBA disaster loan applications
The U.S. Small Business Administration has issued a reminder to homeowners, renters, businesses and nonprofit organizations in Maryland that the deadline is Sept. 29 to submit disaster loan applications for damages caused by flooding on June 12. Low-interest disaster loans are available in Allegany, Frederick, Garrett and Washington counties. Homeowners may receive loans up to […]
Court: Franchisee can’t blame bank for bad investment
Don’t expect a bank to save you from yourself, the Court of Special Appeals said in rejecting a franchisee’s claim that Sandy Spring Bank negligently loaned him the money to invest in The Coffee Beanery Ltd. in Annapolis.
Small business lending reaching ‘new normal’
Banks are making it easier for small businesses to get loans, and they're giving companies better terms and lower interest rates.
BDC seeks $200K unpaid loan from former hotel owner
The Baltimore Development Corp. is seeking repayment of a $200,000 loan it made to the previous owners of The Inn at the Black Olive in Fells Point.
FHA to draw $1.7B from Treasury to cover losses
WASHINGTON — A federal housing agency said Friday it needs a $1.7 billion bailout from the Treasury to cover projected losses in a mortgage programs for seniors. At issue are reverse mortgage programs, which allow seniors to borrow against their homes for everyday living expenses. Federal Housing Administration Commissioner Carole Galante told Congress in a […]
EDC hired firm to respond to SEC on 38 Studios
PROVIDENCE, R.I. — Rhode Island’s economic development agency hired legal counsel to respond to an inquiry from the federal Securities and Exchange Commission about its $75 million loan guarantee to former Red Sox pitcher Curt Schilling’s failed video game company. Economic Development Corp. spokeswoman Melissa Czerwein said Wednesday the agency retained a law firm to […]
Judge says lender can seize presidential yacht
DOVER, Del. — A Delaware judge says a lender is entitled to seize the former presidential yacht Sequoia from its current owners. The judge ruled Thursday that the Sequoia Presidential Yacht Group fraudulently induced FE Partners LLC into entering a loan agreement, then defaulted on the loan. FE Partners can now exercise an option to […]
White House backs student loan compromise
WASHINGTON — The White House is urging Congress to pass a bipartisan compromise on student loans that would offer lower interest rates for the next few years. The White House on Tuesday released a statement urging swift passage of the deal, negotiated over the last few weeks by Democratic Sen. Joe Manchin of West Virginia […]
Sun sets on Western Sky’s payday loans in Maryland
The Maryland Division of Financial Regulation issued a final order Thursday telling an online payday lender to cease lending and collecting on loans to the state’s consumers, saying the unlicensed company had been charging usurious annual personal-loan rates of between 120 percent and 1,825 percent.
Small business loan fund unveiling set
The Anne Arundel Economic Development Corp, announced that on Wednesday it will officially unveil its new small business loan fund and introduce the owners of Brick House LLC, the fund’s first loan recipient.
Tesla Motors pays off loan from U.S. early
DETROIT — Tesla Motors, which makes a highly acclaimed $70,000 electric car, has paid off a startup loan from the U.S. government nine years early. The Palo Alto, Calif., company said it wired in a $451.8 million payment to the government on Wednesday. The money, coupled with two prior payments, paid off a $465 million […]
