Most businesses should try to keep about a month’s worth of cash in the account. The balance is insured by the Federal Deposit Insurance Corporation up to $250,000. A normal balance might be between $5,000 and $10,000 for a start-up or small business. A small business savings account can earn more interest and is easily… Read more »
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Developers throw Richmond a meatball. Or is it a knuckle ball?
On Monday the City of Richmond finally announced its plans for Shockoe Bottom and North Boulevard: Tear down the Diamond, and build a new stadium downtown. Throw in an ample mix of retail, office and residential development at both sites. Just $765 million later, fans will have a new baseball team, the city will once… Read more »
The Pipeline: Businesses on the move 6.09.08
Thalhimer reported the following deals: Ruth & Ollie has leased 3,867 sq.ft. at 3445 W. Cary Street in Richmond and plans on opening July 14th. The furniture store currently operates in a smaller store on Libbie and Grove. The Cary Street store is under construction and will be 4.5 times the size of the existing… Read more »
Richmond Banks Still Lending
Some Richmond-area banks are growing pickier about which businesses get financing. With a possible recession on the horizon, banks are extra careful to protect their investments. And there’s less money to lend, bankers say, in part because of fallout from residential mortgages (read: subprime meltdown).