Banking & Finance

By all indications, the Federal Reserve will raise interest rates by the end of this year, marking the first time in eight years rates will move north. But would that lead to a slowdown in business?

Connecticut-based United Bank, which has seven branches in Central Massachusetts, reported record earnings in its second quarter, helped by a 19-percent jump in commercial lending and a jump in home loans.

For nine lucky first-time entrepreneurs, July 14 could be the day their dreams are realized. For the third summer, Hopkinton-based science and technology incubator TechSandBox will give them a chance to make their case for critical financing. “It's hard to network your way to investors, especially as a first-time entrepreneur,” said Barb Finer, TechSandBox's CEO.

Mortgage applications across the United States jumped 4.6 percent last week over the last week in June, according to the Mortgage Bankers Association (MBA).

Small businesses in the Fitchburg-Leominster area that need loans that banks won't give them will now be able to approach the North Central Massachusetts Chamber of Commerce.

Webster Five Cents Savings Bank has asked for the state's approval to move its downtown Worcester branch around the corner from Commercial Street to the former Mechanics Bank tower on Front Street, the bank announced Monday.

An Uxbridge man has been charged in an alleged Ponzi scheme that took in $3.5 million, according to a statement Tuesday from the office of Secretary of State William F. Galvin.

Berkshire Hills Bancorp, the parent company of Berkshire Bank, is buying Needham-based Firestone Financial Corp.

Worcester Credit Union's branch at 315 Main St. will close later this summer. The last day the branch will be open is Aug. 21, according to the credit union's website.

The transition from military to civilian life is a notoriously tough one, but many veterans have a set of skills that's well suited to running a business. And there are a number of public- and private-sector resources devoted to helping ex-military people move into the business world.