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Virginia banks have processed $3.97B+ in SBA PPP loans
UPDATED MAY 7 Since the second round of funding for the Small Business Administration’s Paycheck Protection Program (PPP) launched on April 27, Virginia banks have processed more than 46,000 loan applications for the COVID-19 relief funding for small businesses, totaling more than $3.97 billion as of May 1, according to SBA data. “All Virginia banks […]
Reston IT company to be acquired by Cognizant
Reston-based human resources tech company Collaborative Solutions LLC will be acquired by New-Jersey based information technology company Cognizant, the companies announced Tuesday. Financial terms of the transaction were not disclosed and the deal is expected to close during Q2 2020. Collaborative Solutions specializes in Workday Cloud Platform applications for finance and human resources. Following the […][...]
U.Va. receives $1M gift for COVID-19 research fund
The University of Virginia announced Tuesday it has received a $1 million commitment from Charlottesville-area businessman and investor Paul Manning to establish The Manning Fund for COVID-19 Research, which will support the university’s efforts to develop COVID-19-related research projects. “The Manning Fund for COVID-19 [...]
Juul Labs moving HQ from San Francisco to D.C.
E-cigarette manufacturer Juul Labs Inc. is moving its company headquarters from San Francisco to Washington, D.C., a fact first reported Tuesday by the Wall Street Journal. Henrico County-based Altria Group Inc. holds a 35% stake in Juul, which is cutting about 900 jobs from its 3,000-person global workforce, including about 25%[...]
Capital Square names VP of construction management
Henrico County-based real estate investment company Capital Square announced Tuesday that it has named Michael Ollinger as vice president of construction management. He will be responsible for construction management for existing assets and new development. Ollinger most recently worked as a design and construction consultant [...]
Alarm.com subsidiary acquires apartment intercom company
A subsidiary of Tysons-based security company Alarm.com announced Monday it has acquired apartment intercom system company Doorport Inc. Financial terms of the transaction were not disclosed. Through the acquisition, PointCentral Smart Property Management, which focuses on rental properties, will now be able to offer building security and access as well as property management through a […][...]
Confirmed Va. coronavirus cases exceed 19,000
Virginia saw 717 new confirmed coronavirus cases in the last 24 hours, bringing the total Tuesday to 19,357 confirmed cases, according to the Virginia Department of Health. More than 2,750 Virginians are hospitalized from the disease and 690 are confirmed dead from COVID-19. The totals do not include 899 probable cases and 23 pr[...]
First Loudoun Innovation Challenge winners announced
The Loudoun Economic Development Authority (EDA) on Monday announced the four winners of its first Loudoun Innovation Challenge, which awarded $150,000 in total grants to innovative startups based in the county or committing to locate an office or jobs there. Launched in January, the challenge received 71 applications from proje[...]
Northam says businesses could begin reopening as soon as May 15
Restaurants, salons, retail stores, gyms and other recreational businesses will likely begin reopening on May 15, Virginia Gov. Ralph Northam announced Monday. Unless “something drastically changes,” the governor said he expects to start reopening Virginia businesses in a phased approach at the end of next week. Nort[...]
Henrico County restaurant property sells for $2.74M
A restaurant property in Henrico County, located on the outskirts of Regency Mall, has sold for $2.74 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Monday. The 3,615-square-foot property is fully leased to First Watch Restaurants Inc., which has a 10-year lease. The property is an outparcel of [...]
COVID-19 continues spread in Va.
The prevalence of COVID-19 continues to spread in Virginia, with 18,640 confirmed cases as of Monday, according to the Virginia Department of Health. Nearly 2,700 Virginians are hospitalized with the coronavirus and 662 are confirmed dead from COVID-19 in the commonwealth. Virginia saw an increase of 767 cases on Monday, 894 cas[...]
FEMA sending three decontamination systems to Virginia
The Federal Emergency Management Agency has approved sending Virginia three decontamination systems that can collectively sterilize up to 240,000 units of personal protective equipment (PPE) per day for reuse, Virginia Gov. Ralph Northam announced Saturday. The Battelle Critical Care Decontamination Systems, which will be operat[...]
