Steve Daniels from Crain's Chicago Business wrote about the capital raise of Urban Partnership Bank after his interview with William Michael Cunningham from Creative Investment Research, Inc.
"After burning through the capital from Goldman Sachs and Morgan Stanley, Urban Partnership Bank turns to Chicago headquartered banks this time to raise at least $15 million in fresh equity. One challenge UPB faces is to convince local banking chiefs that it won’t need further investment in the future, and the other is to be innovative enough to have a small-scale business model different from ShoreBank, said William Michael Cunningham."
Click on http://www.chicagobusiness.com/article/20160820/ISSUE01/308209991/shorebank-successor-urban-partnership-seeks-a-reboot to read the full story.
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