San Diego Business Journal

SD FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

California Economic Index Shows Gain

Comerica Bank’s California Economic Activity Index advanced 0.9 of a percentage point in April to a level of 120.6, the bank said.

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Foundation Funds Groups on Front Lines of Helping Military

The Patriots Connection, a program of Rancho Santa Fe Foundation, awarded grants of $100,200 to nine nonprofit military programs in San Diego County recently. The Patriots Connection has awarded 135 grants of more than $1.2 million since 2009 to nonprofits serving the local military community.

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Short on Future Advice

Industry Projects Significant Shortage of Financial Planners

As more financial planners enter their 60s, wealth management firms and universities are looking for ways to bring younger people into the profession.

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Good Company

Qualcomm Ventures Is on the Hunt For Promising Tech Startups to Back

It’s been 31 years since Qualcomm Inc. was a startup. Today the chip maker has revenue of $25.3 billion. Still, it is very much a part of San Diego’s startup scene: Its venture capital arm is a source of capital for a lot of new companies.

MVP REIT Defers NASDAQ Listing Pending Review

VP REIT Inc. and MVP REIT II Inc., San Diego-headquartered investment firms focused on parking structures and facilities, have decided to defer taking any action to list the company’s common shares on the NASDAQ Global Market.

S.D. County Business Confidence Rebounded in May

The San Diego business community’s outlook is regaining stability after erratic confidence in recent months, the San Diego Regional Chamber of Commerce reported.

Grandpoint Division to Offer Cyber Crime Insurance

Grandpoint Bank, parent of La Jolla-based Regents Bank, has created a new division to address growing concerns about cybercrime within the banking industry.

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Assessments Often Unsupported by Market Values

Although the economy as a whole has shown signs of life after the Great Recession, the recovery is not being driven by commercial real estate prices and values. It is more accurate to describe the economic recovery as occurring despite the ongoing distress affecting some segments and submarkets of the commercial real estate market.

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Gift to Rescue Mission Adds to the Hope, Comfort It Provides

The San Diego Rescue Mission received a special delivery of 300 new mattresses donated by online luxury mattress company, Leesa Sleep LLC. The mattresses will be used in the Mission’s emergency shelters, men’s recovery programs, recuperative care unit and transitional programs. The donation, with a retail value of more than $60,000, will enhance the way the Mission addresses the needs of those it serves.

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HCAP Partners Promotes Frank Mora

San Diego-based private equity firm HCAP Partners, formerly Huntington Capital, has promoted Frank Mora to partner, the company announced Thursday.

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Banks Decide to Redirect Rather Than Reject Some Borrowers

LENDING: Banks Back CDFIs With Referrals and Grants

No matter the ebbs and flows of the U.S. economy, small business owners and entrepreneurs who can’t qualify for conventional loans are still getting financing help from banks eager to keep them as clients as the businesses grow.

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Breakdown of VC Investment Finds 92121 in a Prime Spot

FINANCE: Sorrento Valley Ranked Fifth With $568M in 2013

Twenty neighborhoods in the U.S. accounted for more than $10 billion in venture capital in 2013 — and one of them was in San Diego, according to a report.

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Data Driven

Veyo Uses Predictive Analytics to Help Steer Its Nonemergency Medical Transportation Business

Years before he became president of Veyo, Josh Komenda had two jobs. He was an engineer at a big tech firm. And he had a “hobby company” on the side.

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Challenging Startup Terrain Is McKee’s Kind of Testing Ground

STARTUPS: Leader of CONNECT Has Goal of Ten $1 Billion Companies

Never judge a man by his suit, they say, but Greg McKee’s is quite telling. His charcoal jacket is flawlessly fitted and pressed: a sleek nod to his life on Wall Street. His pocket square, however, is a risky spot of flair; a colorful homage to the startup world in which he now works.

Region's Economic Growth to Remain Sluggish, Report Says

Economic growth will remain sluggish for the region's small businesses, with the exception of real estate-related firms, according to an analysis by the National University System Institute for Policy Research.