SBA

Readout of Day One of SBA Administrator Guzman’s Visit to Maui for 6-Month Assessment of Wildfire Recovery Efforts

Retrieved on: 
Friday, February 9, 2024

She also participated in a meeting with federal and local officials to receive status updates and chart a path forward for long-term recovery efforts.

Key Points: 
  • She also participated in a meeting with federal and local officials to receive status updates and chart a path forward for long-term recovery efforts.
  • Later in the day, Administrator Guzman visited a Disaster Recovery Center (DRC) with Administrator Criswell to underscore the Biden-Harris Administration's whole-of-government response to the Maui wildfires.
  • Event Photos available upon request at: [email protected]
    Image Description: Administrator Guzman (L) participates in a long-term recovery meeting with federal, state, and local partners.
  • Image Description: Administrator Guzman (L) meets with SBA staff at a Disaster Recovery Center.

SBA Administrator Visits Maui on Six-Month Anniversary of Wildfires; Announces More Than $292 Million in Disaster Assistance Loans for Residents and Businesses

Retrieved on: 
Thursday, February 8, 2024

“The SBA has directed more than $292 million in loans to small business owners, nonprofits, and renters seeking to rebuild their lives.

Key Points: 
  • “The SBA has directed more than $292 million in loans to small business owners, nonprofits, and renters seeking to rebuild their lives.
  • For small businesses and most private nonprofit organizations of all sizes, SBA offers Economic Injury Disaster Loans (EIDL) to help meet working capital needs caused by the disaster.
  • Disaster loans up to $500,000 were available to homeowners to repair or replace damaged or destroyed real estate.
  • Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance.

ECDI, Huntington Advance Small Business Capital Access Practices

Retrieved on: 
Thursday, February 8, 2024

ECDI , the #1 SBA microloan intermediary lender, will host the event powered by Huntington National Bank , the leader, by volume, in SBA’s 7(a) category.

Key Points: 
  • ECDI , the #1 SBA microloan intermediary lender, will host the event powered by Huntington National Bank , the leader, by volume, in SBA’s 7(a) category.
  • The three-day summit will bring together top SBA experts, industry pros, business lenders, support providers, business owners, and civic funders from across the Midwest and the U.S.
  • In addition to best practices in SBA lending, sessions will focus on the importance of fostering more equitable prosperity for small business owners of all communities and will seek to discover new and inventive ways to bolster small business investment.
  • We could not do this work without the partnership of Huntington, who is helping extend our mission beyond the walls of ECDI.”
    “For nearly 20 years, ECDI has been a trusted partner in creating a more equitable environment for small business lending.

THURSDAY & FRIDAY: Biden Cabinet Member in Hawaii to Mark Six-Month Anniversary of Maui Wildfires

Retrieved on: 
Thursday, February 8, 2024

She will be joined by FEMA Administrator Deanne Criswell and other federal and local officials throughout the trip.

Key Points: 
  • She will be joined by FEMA Administrator Deanne Criswell and other federal and local officials throughout the trip.
  • Media planning to attend the press conference should send name and news organization by Thursday 7:30 a.m. to [email protected] and [email protected] .
  • WHERE: University of Hawaii Maui College, 310 W Ka‘ahumanu Ave, Kahului, HI – Ka’a’ike Building, Room 105B
    PRESS: This event is for invited guests and media only.
  • Those attending remotely may send questions in advance or submit them during the news conference via text to Makana McClellan (808-265-0083, [email protected] ).

MAISON SOLUTIONS INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $25,000 In Maison Solutions To Contact Him Directly To Discuss Their Options

Retrieved on: 
Thursday, February 8, 2024

NEW YORK, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Maison Solutions Inc. (“Maison Solutions” or the “Company”) (NASDAQ: MSS) and reminds investors of the March 4, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Key Points: 
  • Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
  • In the IPO, the Company sold 2,500,000 shares of Class A common stock at a price of $4.00 per share.
  • On this news, Maison Solutions' stock price fell $12.71 per share, or 83.6%, to close at $2.50 per share on December 15, 2023, thereby injuring investors.
  • Faruqi & Faruqi, LLP also encourages anyone with information regarding Maison Solutions’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Mission Valley Bancorp Reports Full Year and Fourth Quarter 2023 Results

Retrieved on: 
Wednesday, February 7, 2024

Net loss for the fourth quarter of 2023 was $0.2 million, or $0.07 per share, compared to net income of $1.1 million, or $0.32 per diluted share, for the fourth quarter of 2022.

Key Points: 
  • Net loss for the fourth quarter of 2023 was $0.2 million, or $0.07 per share, compared to net income of $1.1 million, or $0.32 per diluted share, for the fourth quarter of 2022.
  • Tamara Gurney, President and Chief Executive Officer, commented, "We are pleased to share our full year and fourth quarter results for 2023.
  • Net Interest Income was $6.0 million for the fourth quarter of 2023, a decrease of $0.2 million, or (3.76%), compared to the fourth quarter of 2022.
  • Non-Interest Income was $1.3 million for the fourth quarter of 2023, an increase of $0.1 million, or 9.49%, compared to the fourth quarter of 2022.

OXFORD BANK CORPORATION ANNOUNCES FOURTH QUARTER AND FULL YEAR 2023 OPERATING RESULTS

Retrieved on: 
Tuesday, February 6, 2024

OXFORD, Mich., Feb. 6, 2024 /PRNewswire/ -- Oxford Bank Corporation ("the Company") (OTC Bulletin Board: OXBC), the holding company for Oxford Bank ("the Bank"), today announced operating results for the fourth quarter ended December 31, 2023.

Key Points: 
  • OXFORD, Mich., Feb. 6, 2024 /PRNewswire/ -- Oxford Bank Corporation ("the Company") (OTC Bulletin Board: OXBC), the holding company for Oxford Bank ("the Bank"), today announced operating results for the fourth quarter ended December 31, 2023.
  • Total Assets of the Company were $816.67 million as of December 31, 2023, compared to $792.65 million at December 31, 2022.
  • Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company.
  • In addition, Oxford Bank has business banking/commercial finance centers in Phoenix, AZ., Wixom, downtown Oxford, and Flint, Michigan.

Barclays appoints Na Wei as Global Head of Leveraged Finance

Retrieved on: 
Tuesday, February 6, 2024

Barclays today announces the appointment of Na Wei as Global Head of Leveraged Finance, reporting to Travis Barnes and Tom Johnson, Global Co-Heads of Capital Markets at Barclays.

Key Points: 
  • Barclays today announces the appointment of Na Wei as Global Head of Leveraged Finance, reporting to Travis Barnes and Tom Johnson, Global Co-Heads of Capital Markets at Barclays.
  • Under Ms. Wei’s leadership of Barclays’ Leveraged Finance business in EMEA the firm achieved a top three ranking in 2023 according to Dealogic data, up from number seven in 2022.
  • Ms. Wei has also been instrumental in materially increasing Barclays’ market share with the firm’s top twenty Financial Sponsors clients.
  • Barclays has a strong Leveraged Finance franchise, with a year to date global ranking of number three according to Dealogic data.

OptimumBank Holdings, Inc. (OPHC-NASDAQ) Announces 2023 Full Year Results for OptimumBank (the “Bank”)

Retrieved on: 
Monday, February 5, 2024

At December 31, 2023, the Bank had shareholder equity amounting to $70 million.

Key Points: 
  • At December 31, 2023, the Bank had shareholder equity amounting to $70 million.
  • The Bank has been growing assets year over year and ended 2023 at $791,052,397, 35.53% larger than the prior year of $583,693,724.
  • These results are unaudited and do not reflect the consolidation of the Bank with its parent holding company, OptimumBank Holdings, Inc.
  • Our outreach efforts in the communities throughout South Florida over the past several years have proven to be extremely rewarding.”

NewtekOne, Inc. Begins 2024 with Strong January Loan Pipeline Growth

Retrieved on: 
Monday, February 5, 2024

We anticipate that getting off to such a great start in 2024, will be helpful in achieving our record-breaking forecast of approximately $1.4 billion in total loan closings across all loan products in 2024.

Key Points: 
  • We anticipate that getting off to such a great start in 2024, will be helpful in achieving our record-breaking forecast of approximately $1.4 billion in total loan closings across all loan products in 2024.
  • This would be an increase of approximately 27% percent from $1.1 billion total loans closed in 2023, by Newtek Bank and the Company’s non-bank lending subsidiaries.
  • The most significant reason for the year-over-year increase in the loan pipeline in January is increased loan product offerings and efficiencies in technology in our processes.
  • Moreover, we anticipate that the use of artificial intelligence in our training and processes will further increase our efficiencies.