As part of the White House strategy to jump-start small business lending, the federal government increased the guarantee amount on loans backed by the Small Business Administration and eliminated fees. (Read about that here.)
Search Results for: state fair
First Market Bank bought by Union Bankshares
Richmond-based First Market Bank was acquired by Union Bankshares Corp. in an all-stock deal valued at about $100 million. The new holding company will move its headquarters from Bowling Green to Richmond, although that will only bring a few jobs downtown.
New venture targets dirty computers
A new start-up in Richmond is hoping to cash in on businesses’ need to cut costs and go green. Neat Geek, which officially launched two weeks ago, provides computer and office equipment cleaning service for local business.
Commercial sales activity slips into hibernation
Who will budge first? Buyers and sellers of commercial real estate are locked in a game of chicken. But someone is going to have to budge, or deal volume will remain dreadfully low. And with commercial loans coming due and other commercial real estate investment groups needing to raise cash, some experts hint that it… Read more »
Q & A: Que Pasa Hispanic Biz?
Michel Zajur started the Virginia Hispanic Chamber of Commerce in 2000 to serve the business needs of the growing immigrant population. It is still growing, but just like everyone else, the Hispanic-community is dealing with mounting job losses and a slow business environment. BizSense has heard from construction companies that some laborers are leaving the… Read more »
NewsFeeds 3.11.09
Large law firms cutting pay for first-year attorneys (Chicago Tribune) McGuireWoods LLP confirmed Monday that it will cut pay for first-year attorneys by 10 percent. In its Chicago office, the class of 2009 will make $144,000, down from $160,000. Other firms are expected to follow suit.In Baltimore, Richmond and other smaller markets, McGuireWoods cut first-year… Read more »
NewsFeeds 3.4.09
Henrico slashes construction plans (Times-Dispatch) Henrico County is slashing its construction plans for next year by nearly 90 percent because of worries about the recession. Hungry contractors are cutting bids to the bone as interest rates have tumbled and building looks easy to afford, but — like many ordinary consumers — county officials are loath… Read more »
NewsFeeds 2.19.09
Media General to furlough employees (Times-Dispatch) The economic downturn will mean two weeks of unpaid time off this year for employees of Richmond-based Media General Inc. The parent company of the Richmond Times-Dispatch said yesterday that its employees will be required to take 10 days without pay by the end of September. The mandatory furloughs… Read more »
NewsFeeds 2.16.09
Potential for progress in Henrico’s Regency Square area (Times-Dispatch) BJ’s is the latest retailer to bet the future on the business corridor around the mall, which is making a comeback as an attractive alternative for shoppers who don’t want the hassle of driving on West Broad Street to the high-profile stores in the Short Pump… Read more »
Free beer and other stimulus spending ideas
The Commonwealth of Virginia has launched a new website to solicit proposals from the public as to how the state should spend federal stimulus dollars. Virginia is expected to receive close to $3 billion of the estimated $800 billion stimulus package going through Congress. Anyone can go to the site and submit their email address… Read more »