Suntrust

SBA loan volume snapshot

Small businesses around the state borrowed $149.78 million worth of SBA loans from Oct. 1 through May 31.

SunTrust in talks to sell investment units

The Atlanta-based regional bank is in negotiations to sell parts of its institutional investment management business, which includes a local investment firm.

“Back to basics” say bankers

Local bankers know they’re not the most popular guys around town these days. But the banking model doesn’t work so well when real estate prices are fluctuating so wildly and major industries are falling by the wayside. There were two banking panels this week both centered around the topic of why banks seem tighter lending than this time two years ago. Both had a similar refrain.

Foreclosures 3.16.10

Eleven properties in this week’s list have defaulted loan values of more that $250,000, with Chesterfield seeing a particularly expensive property that had a value of $877,100.

Foreclosures for 3.9.10

Foreclosures increased in Chesterfield and Henrico compared to last week, while Richmond City saw its numbers drop by more than half.

Local builder files for bankruptcy protection

Prospect Homes, a local homebuilder for more than 25 years, filed for Chapter 11 bankruptcy Tuesday. The company owes more than $50 million to hundreds of creditors. Many businesses listed as creditors were not surprised by the news, as checks had been late in arriving for at least six months. But several local business owners said they kept working with Prospect after Audi met with them, in part because they wanted future work and had known the company for decades.