| Bankers see potential in women-owned businesses
Stephanie Zhang had an epiphany. "I was working in the cell phone store one day when I said to myself, 'I could own this place,'" said Zhang, who now owns not one but two wireless stores as president of Best Wireless in San Francisco. Like many entrepreneurs before her, she turned to family to help make her dream a reality. In this case, she accepted $20,000 from her father. She then turned to Wells Fargo Bank for small business banking services such as a company checking account. Zhang represents an important market segment that institutions such as Wells Fargo and Wachovia Bank are heavily courting with a range of such services. .
(AFX UK Focus) 2007-11-21 15:03 GMT: Procredit Holdings' ratings affirmed - Fitch
MUMBAI (Thomson Financial) - Fitch Ratings said it has affirmed the ratings of ProCredit Holding AG (PCH) and the ProCredit banks in Albania, Bosnia & Herzegovina, and Serbia.
Fitch said PCH's long term IDR was affirmed at 'BBB-' and short term IDR at 'F3'. Its individual rating was affirmed at 'C/D' and support rating at '2'. The outlook is stable, Fitch said.
Fitch said the IDRs and support rating reflect its view of the strong potential support available from the company's owners, given the group's important developmental role in providing financing and other banking services to micro businesses, and small and medium-sized enterprise customers in developing markets. The individual rating reflects PCH's niche business, reasonable profitability, good risk management and strong asset quality.
J.D. Power and Associates Reports: While Small Businesses are Particularly Profitable, Banks Struggle to Satisfy These ...
Banks struggle to satisfy small business customers, as these customers tend to be more difficult to please compared with the average retail banking customer, according to the J.D. Power and Associates 2007 Small Business Banking Study(SM) released today. .
State Farm agent expands with move
PRINCETON — Growing her small town business and providing the best insurance and financial services around is a priority for State Farm agent Lorita Hellman.With a new location and an expanded team, she hopes to better meet her client’s goals and objectives."The main thing I want to do is to have people, without a doubt, understand how very, very much we want to help them with their insurance and financial services, and in the right way," Hellman said."We want them to feel like they enjoy being here so very much that they don’t want to have their insurance anywhere else. That’s the kind of service we want to provide; that’s the ultimate goal," she added.As of Oct. 1 the business relocated to 324 N. Main St., to a newly-renovated Victorian building, that is more than 100 years old.With the move, Hellman expanded her business team to include her son, Adam Hellman, who will serve as an agency contact representative, and will greet clients, process payments and keep client information up to date.Also on the team are Susan Bastion and Barbara Kunst, both multiple line representatives, who have a combined 25 years experience, in addition to Lorita who also has 21 years of agency experience.They are both fully licensed in all lines of insurance with Bastion specializing in bank and commercial insurance, while Kunst specializes in health and life insurance."They are both also experts in property and casualty insurance on their auto and fire insurance line," Hellman said.With the move, Hellman said she would like to increase her clientele at a more rapid pace, with an emphasis on auto growth."We paid dividends last year; we lowered our rate; we’re extremely competitive right now," Hellman said.Hellman said she had her eye on the building, which had sat vacant for several years, and was ready to take the next step."I’ve always found this place to be extremely charming.
ADB grants 15 mln usd to develop micro, small, medium enterprises in Bhutan
MUMBAI (Thomson Financial) - The Asian Development Bank (ADB) said it is extending two grants totaling 15 mln usd to support the development of micro, small and medium-sized businesses in Bhutan. ADB will grant 6 mln usd in three equal tranches over three years to establish an integrated policy, strategy and institutional framework for the development of the businesses. This grant will also enhance business laws and regulations to facilitate the operations of the businesses, improve their access to market-based funding and strengthen business support infrastructure. Another grant of 9 mln usd will be used to extend credit to the smaller enterprises, supporting their development and facilitating programme implementation, the bank said.
Small Business winners announced
The Delaware State Chamber of Commerce's Small Business Alliance has selected the winners of the 2007 Superstars in Business Awards.The Marvin S. Gilman Superstars in Business Awards, named for one of Delaware's leading small business entrepreneurs, honor businesses and nonprofit corporations for their outstanding achievements and model approaches to business and management. They are presented to companies that have been in business for at least three years, have no more than 150 employees, and are members of the Delaware State Chamber of Commerce. Awards of Excellence are also granted to deserving companies."The quality and depth of the applications received for this year's Marvin S. Gilman Superstars in Business Award made selecting recipients very difficult," says Baron Schlachter, Bank of America Vice President and 2007 Superstars in Business Selection Committee Chair.
Top bank groups' subprime hit limited
Profits at Japan's three major banking groups fell in the six months to September as they suffered losses linked to U.S. subprime mortgage loan woes, according to their business results, the last of which was announced Wednesday. Although the losses may seem small compared with the hit U.S. financial institutions have incurred, the subprime loan woes are steadily eroding the profits of Japanese banks. .
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