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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jun 25, 2009
Page
6
After a two day meeting the Federal Reserve kept the benchmark rate at 0 to 0.25 percent and signaled rates will stay low for an extended period. Durable goods orders rose 1.8 percent in May while new home sales fell unexpectedly and the Dow swung from gains to losses.
In Lordstown Ohio a 351 million retooling of GM’s 5 million square foot complex aims to start Cruze output early next year. Workers test new body shop machines as GM bets the Cruze will lift post bankruptcy sales, surpass rival Civic and Corolla with better fuel economy and options.
In North Ridgeville the 37723 Center Ridge Road branch becomes ENG Lending a Bank of England Arkansas unit while retaining local staff. Manager Ray Bolin notes faster in house processing, three to four week loan turns, and a range including mortgages, reverse mortgages for 62 plus, USDA rural loans, loan modification, and prequalifications. Six loan officers bring over a decade in the business.
Readers can submit new business announcements for Lorain County. Include business name location opening date purpose and a contact person. For questions call ENG Lending at 440 327 5626 or contact Andrew Harner at 329 7155 or ctnews chroniclet com.
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