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small business

Oct 29, 2021

Shenandoah Community Capital Fund to get $1M as part of federal program

The Shenandoah Community Capital Fund (SCCF) will receive $1 million in American Rescue Plan funding as part of the Community Navigator Pilot Program, the U.S. Small Business Administration announced Thursday. The program is an initiative meant to reduce barriers that small businesses, especially those owned by veterans, women, people from rural communities and communities of […]

Sep 30, 2021

Peduzzi Associates Ltd. names next president

Retired U.S. Air Force Maj. Gen. Garry Dean will become the president of Alexandria-based consulting company Peduzzi Associates Ltd. on Friday. Dean has served on the company’s board of advisers for the last four years. He has been an international airline captain for Delta Air Lines since he retired from the Air Force in 2015. […]

Sep 29, 2021

State launches app to connect vendors with Va. agencies

Virginia has launched an app to help connect state government agencies and other users with local, woman- and minority-owned businesses more efficiently, Gov. Ralph Northam announced Wednesday. The Start Small app is available for free, and it allows users to conduct keyword searches to match with businesses that fit their needs, and can be narrowed […]

Small Black-owned businesses “were struggling before the pandemic,” says Tortica Anderson, owner of A Family Affair Event Management. “We feel like we have to work twice as hard to prove we’re capable of being business owners and invest in ourselves to show we’re legitimate businesses.” Photo by Will Schermerhorn
Jul 30, 2021

Bridging the gap

At the beginning of 2020, A Family Affair Event Management had already filled its schedule for the year with an array of weddings and corporate, social and destination activities. Then COVID-19 struck, wiping the Stafford event planning company’s calendar clean. “It greatly impacted us,” says Tortica Anderson, owner of A Family Affair Event Management. “We […]

Jul 12, 2021

Northam proposes $353M for small biz, tourism relief

Ahead of the General Assembly’s August special session, Gov. Ralph Northam said Monday he wants to spend $353 million of Virginia’s federal relief funding on small business recovery and assisting the tourism industry. Virginia received $4.3 billion in federal funds through the $1.9 trillion American Rescue Plan passed in March. The Democratic-controlled General Assembly will […]

Apr 1, 2021

PPP loans deadline extended to May 31

Businesses and banks received a two-month extension to apply for Paycheck Protection Program loans this week, as President Joe Biden signed legislation delaying the deadline for the latest round of PPP loans from March 31 to May 31. This week’s extension takes some of the pressure off bankers and businesses, says Steve Yeakel, president and […]

Mar 25, 2021

Newport News, Hampton launch Peninsula Cares Act Fund

The cities of Hampton and Newport News opened a new low-interest loan program for COVID-affected businesses on Thursday. Known as the Peninsula Cares Act Fund, it will lend a total of $1.5 million in amounts ranging from $7,500 to $375,000. Eligible businesses can use the funds for purchase and installation of machinery and equipment, building […]

Feb 11, 2021

Chesapeake Economic Development offers extra $1M for small businesses

Through the Chesapeake Economic Development department’s latest $1 million round of COVID-19 grants, small businesses can receive up to $10,000 for reimbursable business expenses related to the pandemic, such as rent, payroll and operating costs. This marks the department’s third round of Small Business COVID-19 Recovery Grant program funding. So far, the department has disbursed [&hel[...]

Banking on Diversity logo courtesy The Bank of Clarke County
Feb 9, 2021

Four community banks launch $1M minority business fund

The Bank of Clarke County announced Tuesday the launch of the Banking on Diversity initiative, a minority business funding program backed by Bank of Clarke County, BCT-Bank of Charles Town, The Fauquier Bank and First Bank. The four community banks have collectively committed up to $1 million in interest-free loans to help startup and existing […]

Feb 5, 2021

Wells Fargo makes $1.5M donation for small business loans

Wells Fargo & Co., Virginia’s third-largest bank by 2019 deposits, announced Thursday it has donated $1.5 million to Richmond-based nonprofit Virginia Community Capital (VCC) to help local minority and/or woman-owned small businesses stay open and save jobs amid the pandemic. During the next two years, the VCC will disburse $1 million of the funding in […]

Jan 26, 2021

Freedom Bank, NVTC to seed $50K revolving loan fund for minority entrepreneurs

The Northern Virginia Technology Council (NVTC) and Fairfax-based Freedom Bank of Virginia announced Tuesday a $50,000 revolving loan fund for Northern Virginia entrepreneurs of color who have been affected by the pandemic.  NVTC and Freedom Bank of Virginia will seed the NOVA Technology Loan Fund, a gap financing program to be administered by the Springfield-based […]

Jan 18, 2021

Applications open Jan. 19 for new PPP round

The relief loan floodgates will reopen Tuesday, as the U.S. Small Business Administration opens the latest $284.5 billion round of Paycheck Protection Program (PPP) funding available.  This time, borrowers who received allocations during the initial rounds of PPP funding in 2020 can reapply under Second Draw PPP Loan applications. First Draw PPP Loans are for […]

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