The recent collapse of Silicon Valley Bank (SVB) created major buzz and worry in the eyes of many entrepreneurs. It was one of the largest bank failures since the Great Recession, and Silicon Valley Bank was the bank of choice for many venture capitalists and startups. The bank, which had significant relationships with venture-backed companies and had a strong reputation for … [More]
Thermal Management Climate Tech Co. Secures $14.1M Equity Investment for Innovation, Expansion, Talent Development, and Supply Chain Logistics
Air2O, a global leader in advanced thermal management solutions to mission critical environments and an Innovative Climatic Technologies (ICT) company, announced a $14.1 million investment from EREN Groupe in its equity as well as in assets giving access to its capital. This investment will help Air2O accelerate Innovation, Expansion, Talent Development, and Supply Chain … [More]
Drone Delivery Startup Closes $4M in Pre-Seed Money and Partners for Initial Deliveries in Greater Phoenix
Flyby Robotics, the end-to-end drone automation and delivery company, announced that they have raised $4M in pre-seed investment funding. The round was led by MaC Venture Capital, with participation from Weekend Fund, Anthemis, and Evening Fund. Other strategic investors include Naval Ravikant, (Co-Founder of AngelList); Balaji Srinivasan, (Finance and former CTO of Coinbase); … [More]
Nikola Announces $100M Public Offering of Common Stock
Nikola Corporation announced that it has commenced an SEC-registered underwritten public offering of up to $100.0 million of shares of its common stock, before deducting underwriting discounts and commissions and other offering expenses. Nikola expects to grant the underwriter a 30-day option to purchase up to an additional $15.0 million of shares of its common stock at the … [More]
BofA Names New Phoenix President, Past President to Retire
Bank of America has named Scott Vanderpool president of Bank of America Phoenix. The company also announced that widely known business leader Benito Almanza plans to retire April 6 after 45 years of service with the company and 22 years as Phoenix and Arizona president. As Phoenix president, Vanderpool assumes the responsibilities for connecting Bank of … [More]
First-Citizens Bank of Raleigh, NC, to Assume All Deposits and Loans of Silicon Valley Bridge Bank
The Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement for all deposits and loans of Silicon Valley Bridge Bank, National Association, by First-Citizens Bank & Trust Company, Raleigh, North Carolina. The 17 former branches of Silicon Valley Bridge Bank, National Association, will open as First-Citizens Bank & Trust Company … [More]
Grant Funding Available for Small, Food-Related Businesses in Phoenix
The City of Phoenix is offering grants to small, food-related businesses that have been negatively impacted by COVID-19 or its negative economic impacts. Applications are now open for the Food Systems Transformation Grant, which is part of the American Rescue Plan Act (ARPA)-funded Phoenix Resilient Food System Initiative. The Office of Environmental Programs has $800,000 … [More]
EN NEGOCIOS: 5 Consejos para Desarrollar un Plan de Negocios Sólido que le Ayudará a Obtener Capital
Comenzar un pequeño negocio es un gran paso y obtener capital es esencial para su éxito. Un sólido plan de negocios es un componente clave para asegurar el financiamiento que necesita para hacer crecer su negocio y alcanzar sus objetivos. Ya sea que esté buscando un préstamo de un banco, una inversión de una firma de capital de riesgo o financiamiento colectivo de inversores … [More]
5 Tips to Develop a Strong Business Plan that Will Help You Obtain Capital
Starting a small business is a big step and obtaining capital is essential to its success. A strong business plan is a key component in securing the funding you need to grow your business and reach your goals. Whether you are seeking a loan from a bank, investment from a venture capital firm or crowdfunding from individual investors, a well-crafted business plan will help you … [More]
Five Teams in Arizona Named to the Forbes Best-In-State Wealth Management Teams List
UBS Wealth Management USA announced that five of the firm’s financial advisor teams in Arizona have been named to the Forbes Best-In-State Wealth Management Teams list for 2023. Three of the five teams are based in Phoenix, and two are in Tucson. "Our advisor teams develop lasting relationships with clients by listening to and understanding their priorities and … [More]
FDIC Establishes Signature Bridge Bank, N.A., as Successor to Signature Bank, New York
Signature Bank, New York, NY, was closed by the New York State Department of Financial Services, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC transferred all the deposits and substantially all of the assets of Signature Bank to Signature Bridge Bank, N.A., a full-service bank that will be operated by the FDIC as … [More]
Western Alliance Bank Issues Updated Financial Figures in Wake of Industry Developments
Western Alliance Bank, in light of recent industry events, updates finiancial information so that bank customers are infomed in light of recent events involving finiancial institutions. With more than $65 billion in assets, Western Alliance Bancorporation is one of the country’s top-performing banking companies. Through its primary subsidiary, Western Alliance Bank, Member … [More]
FDIC Acts to Protect All Depositors of the Former Silicon Valley Bank
The Federal Deposit Insurance Corporation (FDIC) today transferred all deposits—both insured and uninsured—and substantially all assets of the former Silicon Valley Bank of Santa Clara, California, to a newly created, full-service FDIC-operated ‘bridge bank’ in an action designed to protect all depositors of Silicon Valley Bank. Depositors will have full access to their … [More]
Financial Tips for This Women’s History Month
March is Women’s History Month, celebrating the amazing contributions women have made through the years. The U.S. Small Business Administration estimates women in Arizona make up about 46% of workers and own more than 45% of businesses. Other estimates from Merchant Maverick’s Top States for Women-Led Entrepreneurs rank Arizona third in the nation for women-led businesses, with … [More]
Chicago-Based Bank Commits $1 Million to Provide Underserved Communities a Path to Homeownership in Phoenix
BMO announced a $1 million commitment to help underserved communities achieve progress towards homeownership. The commitment supports BMO's Welcome Home Grant down payment program, which is expanding to five new markets including Minneapolis, Milwaukee, St. Louis, Indianapolis, and Lake County, IL – Kenosha County, WI. The program, which launched in March 2022, is still … [More]
Arizona Lender Offers Secure Funding through New Bridge Loans
Hard Money Lenders Arizona, led by Michael Iuculano, announced that they are now offering bridge loans to their clients. This new offering will provide real estate investors and property owners with the flexibility they need to secure funding quickly and efficiently. Bridge loans are a type of short-term financing that helps borrowers bridge the gap between … [More]
Traditional Venture Capital Model Turned on Its Head with Launch of New Scottsdale Firm
In Revenue Capital, the first operator-immersive capital firm focused on early-growth investing, today announces its official launch. Founded by serial entrepreneur Justin Gray and sales & marketing expert Josh Wagner, the new firm is setting out to fix the broken venture capital (VC) system. Unwilling to accept the fact that only 8% of all funded startups actually return … [More]
EN NEGOCIOS: Invertir en Coaching Financiero: Una Guía para Propietarios de Pequeños Negocio
Últimamente, la importancia de la planificación financiera y la estrategia de crecimiento se ha vuelto cada vez más clara para los dueños de pequeños negocios. Con la evolución de la economía, se ha vuelto aún más crucial que los dueños de pequeños negocios tengan una comprensión profunda de sus finanzas. Desafortunadamente, muchos pequeños negocios no pueden permitirse el … [More]
