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Credit unions poised to expand lending

By Jiyoon Jane Yu Medill News Service — After being turned down for a bank loan, Matthew and Kelly Lembke received funds from a credit union to purchase a truck brokerage company. “As our business grew, our line of credit also needed to grow in order to keep up,” said Kelly Lembke, co-owner of Lembke Inc. in Normal, Ill.  […]

Waukegan gaming company reports lower third-quarter sales, income

By Dave Cassilo Medill News Service — Waukegan-based slot machine maker WMS Industries reported third-quarter net income of $24.2 million, or 41 cents per share, down 27 percent from $33 million, or 55 cents per share, from the year-ago period. While the results were lower than the company’s projections, they were on par with analysts’ […]

Sittercity’s expansion plans get boost with new venture capital

With an eye on expansion, Chicago-based Sittercity has raised $22.6 million in venture capital, the Chicago Tribune reported. Two Chicago-based venture capital firms, Baird Venture Partners and New World Ventures, led the investment round, which also included funds from the State of Wisconsin Investment Board and Western Technology Investment, the Tribune said. The company, which […]

As silver nears $50 an ounce, coin merchants report short supply

With silver prices soaring, some Chicago  merchants are struggling to keep coins and bars in stock. Photo by Jamie Coughlin. By Jamie Coughlin — Medill News Service The economy’s recovery has boosted demand for silver at local merchants as prices continue to rise.  Silver closed  at $47.15 an ounce Monday, up 2.4 percent, though the gains retreated after […]

Controversy over transaction fees spurs new legislation

By Ann Meyer When Lindsay Gaskins considered the costs of launching Marbles the Brain Store, credit card and debit card transaction fees weren’t on her radar screen, she said. Now they are. Credit and debit cards account for about 70 percent of the company’s transactions, said Gaskins, who started the company in 2008. Its Grand […]