loans http://michiganradio.org en Michigan is number one in the country for small business loans http://michiganradio.org/post/michigan-number-one-country-small-business-loans <p>Michigan is number one in the nation for loans being issued to small businesses.</p><p>Turns out the Small Business Administration's Michigan district backed 1,221 loans to the tune of nearly $344 million in the first eight months of this fiscal year, which puts the SBA's Michigan district office at the top of the heap in terms of 7A lending.</p><p>David Sowerby is an economist with Loomis Sayles in Bloomfield Hills, and he joined us today to discuss what this means for the state.</p><p><em>Listen to the full interview above.</em></p><p> Mon, 01 Jul 2013 21:23:59 +0000 Stateside Staff 13323 at http://michiganradio.org Michigan is number one in the country for small business loans After tough losses, MI farmers get some federal help http://michiganradio.org/post/after-tough-losses-mi-farmers-get-some-federal-help <p>The federal government has approved financial support for Michigan fruit growers whose crops suffered due to unusual temperature fluctuations.</p><p>Almost all of Michigan&#39;s counties--72 of 83-- are now considered natural disaster areas and eligible for help.</p><p>Some growers&nbsp;say crop losses haven&#39;t been this bad in three generations.</p> Mon, 02 Jul 2012 20:11:02 +0000 Michigan Radio Newsroom 8115 at http://michiganradio.org After tough losses, MI farmers get some federal help Michigan court district ranks No. 1 in lawsuits filed against student loan defaulters http://michiganradio.org/post/michigan-court-district-ranks-no-1-lawsuits-filed-against-student-loan-defaulters <p>Federal data show that a federal court district in Michigan ranks number one in the country for the number of federal lawsuits filed against individuals who default on their student loans.</p><p>Relative to population size, defaulters in the Eastern District of Michigan (Detroit) were prosecuted at a rate about 10 times the national average during March 2012.</p><p>The Central District of California (Los Angeles) came in second, and the Northern District of New York came in third.</p><p>Out of the 279 suits filed in March, 57 were filed in the Eastern District of Michigan, 140 in the Central District of California and 13 in the Northern District of New York.</p><p>The report, published by the <a href="http://trac.syr.edu/tracreports/civil/280/">Transactional Records Access Clearinghouse</a> (TRAC) at Syracuse University, compared the total number of civil filings per month since March 2007. The number remained relatively stable (between 200 and 250) until Spring 2009, when it dipped slightly, bottoming out at 168 in December of that year.</p><p>The number then rose substantially to 598 in April 2011 before declining again towards the early 2009 average. &nbsp;&nbsp;</p><p>The Eastern District of Michigan&rsquo;s leadership in per capita student debt lawsuits is nothing new. The court topped the ranks five years ago and came in second last year, according to the TRAC report.</p><p>The Institute for College Access &amp; Success, a non-profit research and policy organization, reported that 60 percent of 2010 Michigan graduates carried student debt, owing an average of $25,675 &mdash; the 11th highest average in the nation.</p><p><em>- Suzanne Jacobs, Michigan Radio Newsroom</em></p><p> Wed, 16 May 2012 20:35:05 +0000 Michigan Radio Newsroom 7496 at http://michiganradio.org Michigan court district ranks No. 1 in lawsuits filed against student loan defaulters Personal finance: When friends, family and finances mix http://michiganradio.org/post/personal-finance-when-friends-family-and-finances-mix <p>The current credit crunch has made it harder for people to get loans from a bank. Gone are the days when you could walk into your local bank branch, flash your credit score and walk out with a loan. So many are turning to their friends and family for help...but is that a good idea?</p><p><strong>To lend, or not to lend</strong></p><p>When Pete and Michelle Baker wanted to buy a new house, they needed money for a down payment. Their down payment was tied up in their old house, which they hadn&#39;t sold yet.</p> Mon, 08 Aug 2011 19:02:18 +0000 Jennifer Guerra 3654 at http://michiganradio.org Personal finance: When friends, family and finances mix Student loan debt outpaces credit card debt http://michiganradio.org/post/student-loan-debt-outpaces-credit-card-debt <p>We collectively owe around <strong>$828 billion</strong> in revolving credit debt (that includes credit card debt), according to the latest numbers from the <a href="http://www.federalreserve.gov/releases/g19/current/default.htm">Federal Reserve</a>.</p><p>Now, a column in the <a href="http://www.freep.com/article/20100910/COL07/9100373/1318/Student-loans-debt-rose-25-in-09">Detroit Free Press</a> is reporting that for the first time ever, student loan debt has outstripped&nbsp; revolving credit debt, coming in at <strong>$850 billion</strong>.</p> Fri, 10 Sep 2010 14:08:04 +0000 Mark Brush 71 at http://michiganradio.org Student loan debt outpaces credit card debt