Showing posts with label Small business. Show all posts
Showing posts with label Small business. Show all posts

Tuesday, May 6, 2014

Governor McAuliffe Announces Virginia Small Business Financing

Flag of Virginia
Flag of Virginia (Photo credit: Wikipedia)
Governor McAuliffe Announces Virginia Small Business Financing Authority Receives An Additional $5.9 Million from U.S. Treasury to Assist Small Businesses
Virginia will use funds to help increase private lending and investment in small businesses located in the Commonwealth by partnering with Virginia’s banks.
RICHMOND - Governor Terry McAuliffe announced today that the Virginia Small Business Financing Authority (VSBFA) has secured an additional $5.9 million to help finance Virginia’s small businesses through a second disbursement from the U.S. Treasury Department’s State Small Business Credit Initiative (SSBCI). 

These SSBCI funds will support Virginia’s programs which are designed to help banks lend more to small businesses.  Popular programs such as the VSBFA’s Cash Collateral Program, Capital Access Program, Economic Development Loan Fund, and the Loan Participation Program will be available to more businesses as a result of this funding.  In addition, the VSBFA will use some of the funds to partner with Virginia’s Center for Innovative Technology (CIT) to enhance CIT’s GAP Fund which is designed to assist Virginia entrepreneurs in Virginia-based technology, clean tech and life science companies.

Speaking about today’s announcement, Governor McAuliffe said, “Supporting and growing Virginia’s small businesses is at the heart of my vision for growing and diversifying Virginia’s economy. I am pleased that Virginia’s success in assisting small businesses has been recognized by the U.S. Treasury and that Virginia has been rewarded by the receipt of these additional funds to be used to grow this critical segment of our economy.  With the help of Virginia’s banks and private equity investors, we hope to leverage these funds to generate millions more in private sector dollars for Virginia’s economy.”
Through the fiscal year to date, the VSBFA has helped Virginia’s banks lend over $16 million to 98 businesses which have created 357 new jobs and retained 413 existing jobs for a total of 770 jobs in the Commonwealth.
Secretary of Commerce and Trade, Maurice Jones, added, “Virginia’s small businesses and entrepreneurs are a vital part of Virginia’s economy.  The VSBFA’s successful deployment of these funds, the additional investment by our banks, and the job creation provided by small businesses as a result, demonstrates that Virginia’s economy and its businesses remain dynamic and is one of the reasons why Virginia is the best state for business.”

“Small businesses have been able to expand and hire new workers as a result the successful partnership between Treasury’s State Small Business Credit Initiative and the Commonwealth of Virginia,” said Cliff Kellogg, the Director of the State Small Business Credit Initiative.
“These funds will build on that success by providing local entrepreneurs and small business owners greater access to new sources of capital to help create jobs and promote growth among Virginia’s small businesses.”

About the Virginia Small Business Financing Authority and Virginia’s Center for Innovative Technology
The VSBFA was created in 1984 and is an important tool in providing the necessary capital to help the Commonwealth’s small business sector grow.  Created in 1985, CIT, a non-profit corporation, plugs gaps at the earliest stages of the Innovation Continuum – commercialization and seed funding – as it helps entrepreneurs launch and grow high-growth technology companies and create high-paying jobs for the future.  More information about the VSBFA and CIT can be found on their respective websites.  For VSBFA:  http://www.vabankers.org/VSBFA.aspx .  For CIT:  http://www.cit.org.
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Wednesday, February 5, 2014

Think Bitcoin is the Answer? You Need to Hear the Rest of the Story!

Lincoln memorial cent, with the S mintmark of ...
 (Photo credit: Wikipedia)



Will an alternative currency like Bitcoin solve the problem we face? The answer reveals a much larger problem.

Well worth listening to this radio show.  About starting your own business.  Think this is the wrong time to do it or that the economy is not right?  Think again and realize that this just may be the best time in history to start a business.
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Tuesday, April 30, 2013

Gloucester, VA - Free Tools For Local Businesses Number 1

Instead of the Shop Local campaign, as far as Gloucester Main Street businesses are concerned, here is an idea for local businesses to come together on and create.  Everyone is free to copy the example above and expand on it in any way that works for you.


The above here is another example of what can be created through a cooperative.  Numerous restaurants can get together and create a one page promo piece that shows community pride, promotes tourism and promotes each restaurant.  We are starting to work on a number of pieces that you will be able to download and add your own information to it and will create multiple promotions, working as a community information service as well as promoting your own business.  Some will be time sensitive while others will be all year round.  You can use anything you think will work for you.

  As these are developed, we will teach you how to use them for maximum advantage and at a very low cost.  Much lower than other forms of advertising.  The pieces will all be designed for anyone to use.  The new tools will be licensed under a creative commons license so that no issues should occur.  How inexpensive will some of these new pieces be?  Whatever your time is worth while others are strictly a printing cost per page.

  We kept thinking about how bad we thought the Shop Local campaign was for local merchants and as we cried out about poor leadership under the Shop Local campaign, we saw the need for leadership to happen somewhere.  So we are going to take that position and help you at no cost to you.  You decide if you want to participate.  We also do not care if you are a small business or a big box business.  If you think the tools we give you will help you, then participate.  If not, no hard feelings.

  We will be posting the new tools for download on a regular basis, so you will have to keep coming back to see the new offers and decide if you want to use them.  We will try and use the same heading for new tools with updated numbering.  This is number 1.  We will also discuss newspaper ads and show the advantages to cooperatives and how to get into a cooperative possibly for free.  

  Networked together we can make a serious impact for both local businesses and for the community as a whole.

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