Loans

Local housing projects get $3.4M boost from tax credits

March 1, 2013
The Indianapolis developments include new apartments for seniors, the developmentally disabled and homeless veterans, using sites such as Fort Harrison and the former Central State grounds.
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Renamed Carmel financing firm planning big growth

February 1, 2013
Dealer Services Corp. in Carmel has begun operating as NextGear Capital after being acquired by Atlanta-based Manheim Inc. NextGear plans to relocate in the next month and double its employment, to 450, in the next year.
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ITT suffers tough quarter on enrollment drop, loan losses

January 24, 2013
J.K. Wall
ITT Educational Services Inc. shares swooned Thursday morning after the private educator reported sinking revenue and a $9.5 million loss in the fourth quarter. But the stock rebounded strongly later Thursday.
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Microlenders aim to help businesses grow, survive

January 5, 2013
Andrea Muirragui Davis
Indiana has three certified, not-for-profit SBA microloan intermediaries, which not only make short-term microloans—as any lender can—but also use the SBA grants they receive to offer business coaching along with the financing.
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Women’s physician building targeted for foreclosure

December 21, 2012
A lawsuit from the lender claims that Women's Physician Group still owes $8.7 million on a $9 million loan it received for a northwest-side building.
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Simon’s Rushmore Mall loan sent to servicer, Fitch says

December 12, 2012
Bloomberg News
A loan with a balance of $94 million on a South Dakota shopping center owned by Simon Property Group was sent to a special servicer because default is imminent, Fitch Ratings said.
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Church's fate in judge's hands after insurance scheme sours

November 28, 2012
Cory Schouten
A federal judge will determine whether an Anderson church can exit bankruptcy with a lighter debt load, over objections from its bank lender, after a church scheme to profit by selling life insurance on its elderly members failed.
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Local designer’s bankruptcy tied to Fair Finance

November 28, 2012
Scott Olson
SC Design Inc. lists debt of $1.5 million. Most of it is owed to Fair Finance, formerly co-owned by convicted fraudster Tim Durham, through a claim filed by a trustee seeking to recover investor funds.
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Indianapolis receives $39M loan guarantee from HUD

November 20, 2012
The city will use the funding to establish a Community and Economic Loan Pool to provide financing for economic development and housing rehabilitation initiatives to benefit people of low and moderate incomes.
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Carmel council approves refinancing package

November 19, 2012
 IBJ Staff
Carmel’s City Council on Monday night voted 7-0 to approve a proposal to refinance $195 million in debt incurred by the Carmel Redevelopment Commission.
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Two Indianapolis office buildings in foreclosure

November 5, 2012
Scott Olson
The buildings on the northwest side of the city total nearly 200,000 square feet and are owned by an affiliate of a company that operates 12 cemeteries and four funeral homes throughout Indiana.
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Indianapolis accounting firm settles with Fair Finance trustee

November 1, 2012
Kathleen McLaughlin
Somerset CPAs PC will pay $500,000 to settle litigation brought by the bankruptcy trustee of Fair Finance Co., the Ohio-based firm that convicted financier Tim Durham used to conduct a major Ponzi scheme.
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Report tallies local government debt loadsRestricted Content

October 27, 2012
Kathleen McLaughlin
A new reporting requirement on local governments gives taxpayers unprecedented access to debt information, but the data is also likely to raise many questions.
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U.S. sues Bank of America for $1B-plus in mortgage fraud

October 24, 2012
Associated Press
The top federal prosecutor in Manhattan sued Bank of America for more than $1 billion on Wednesday for mortgage fraud against Fannie Mae and Freddie Mac during the years around the financial crisis.
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State going after underwriter of $5M Estridge offeringRestricted Content

October 20, 2012
Greg Andrews
The regulatory action is an outgrowth of a falling-out between Indiana Securities owner Frank Neese and Bank of Indiana, which lost its entire $1 million investment when The Estridge Cos. collapsed.
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Lawmakers question Abound loan, citing quality issues

October 11, 2012
Bloomberg News
House Republicans want more information about a $400 million loan guarantee from the U.S. Energy Department to Abound Solar Inc., citing reports that significant “technological difficulties” with the company’s solar panels were known before the aid was approved.
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Creditor could take ownership of downtown Comfort Suites

October 5, 2012
Scott Olson
The owner of the hotel, an affiliate of Dora Brothers Hospitality Corp. in Fishers, filed for Chapter 11 bankruptcy in February. German American Capital Corp., which is owed $12 million, could own the property by the end of the year.
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Receiver appointed to manage troubled Century Building

October 1, 2012
Scott Olson
A Marion Superior Court judge has appointed a receiver to manage the seven-story building in downtown Indianapolis that is facing foreclosure. A lender to the building's owner claims it is owed $10.5 million.
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Notices going to those eligible for mortgage settlement

September 25, 2012
Associated Press
More than 37,000 Indiana borrowers who lost homes to foreclosure soon will receive claim forms for payments under the national mortgage settlement.
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Basketball legend Robertson target of bank’s lawsuit

September 19, 2012
Scott Olson
Oscar Robertson's money troubles in Ohio have been well documented lately. But in his hometown of Indianapolis, he's trying to convince a judge that he's not responsible for a $203,000 bank loan.
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CNO stock hits 4-year high on recapitalization strategy

September 5, 2012
Bloomberg News
Carmel-based insurer CNO Financial Group Inc. said Tuesday that it is seeking $950 million of loans and bonds to repay debt and reduce borrowing costs.
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Allison Transmission sets rate on $500 million loan

August 9, 2012
Bloomberg News
Allison Transmission Inc., the locally based maker of transmissions for trucks, buses and the military, set the interest rate it will pay on a $500 million term loan the company is seeking to refinance debt.
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Centre Properties retail center hit with $7M foreclosure suit

August 9, 2012
Scott Olson
Indianapolis-based developer Centre Properties is the target of another foreclosure suit, this one involving Pyramid Place Shoppes, a retail center in a busy shopping area on the city's northwest side.
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USA Funds CEO announces retirement

August 7, 2012
Carl C. Dalstrom says he will leave the student-loan guarantor on June 30, 2013. He has led the locally based not-for-profit since July 2000.
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Web startup aims to connect private businesses, investors

July 28, 2012
Andrea Muirragui Davis
Private firms that need to raise relatively modest amounts of capital have a hard time finding money. Now three Indianapolis entrepreneurs think they have the answer: crowdfunding. Individuals make small investments that are aggregated to fund a business. Indianapolis-based Localstake wants to be the matchmaker.
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  1. The Affordable Care Act is not the reason for the slow recovery and lack of high paying jobs for low skill workers. This is a trend that has been going since the early 80's. The recovery is real in the sense that GDP has been growing steadily at a rate of roughly 2.5% since the recession ended in late 2009 (newsflash, the stimulus worked) and the unemployment has been steadily dropping. The reason issue we are facing deals with a skills gap (not enough workers with the right credentials / experience) and wage stagnation due to corporate America being focused solely on maximizing profits for shareholders and not caring about the American middle class. Why should they? Multi-billion dollar mutlinational companies keep offshoring their profits in order to avoid paying taxes (which makes our deficit worse) they convince Americans to fight amongst themselves. If you want to create jobs and reduce the deficit, raise the minimum wage and change corporate tax laws. Of course, if you want to continue to belive that tax cuts for wealthy create jobs (which they don't) and allow corporations and the wealthy to continue to make you cover more and more of the costs of maintaining infrastructure, funding the military and other government services, then keep voting Republican. Hopefully someday you wake up and realize what's been going on since Reagan took office.

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  3. Sergeant McNally is buried in Cathcart Cemetery on a hill known as McNally%u2019 Hill. The Cemetery is in a natural bushland setting and is very well maintained.The emergency department at Ararat Hospital is known as the John McNally Emergency Department. Cathcart is approx. 4.6 km from Ararat and is approx. 345 m above sea level.

  4. My spring chicken of a Mom is turning 75 years young. She is a big fan of Frankie and I think she would get a big kick out of the film. I wanted to take her to the Broadway play but am priced out. Thanks for your time and consideration. Oh yea, Wildwood! Joie

  5. I thought this company would go bankrupt in 2013/2014. I predicted that four years ago. I was wrong. It will take another couple of years, but they will get there.

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