Virginia Department of Business Assistance

Oct 15, 2007	VSBFA - SBA Announce Innovative Financing Approach The Small Business Administration (SBA) and the Virginia Small Business Financing Authority (VSBFA) have entered into a Memorandum of Understanding creating the Virginia Supplemental Guaranty Program, an innovative new approach to financing which allows both agencies to co-guarantee loans made by participating financial institutions to Virginia’s small businesses. The new partnership between SBA and the Virginia Small Business Financing Authority (VSBFA), the first of its kind in the nation, was created to improve access to capital for small firms within the Commonwealth of Virginia.
Jul 31, 2007	VSBFA Teams Up with Banks to Serve Minority Businesses The Virginia Small Business Financing Authority (VSBFA) of the Virginia Department of Business Assistance (VDBA), and the Virginia Department of Minority Business Enterprise (DMBE) recently announced that they have partnered with Consolidated Bank & Trust Company and Security One Bank to offer the Virginia Capital Access Program (VCAP) and the Providing Access to Capital for Entrepreneurs (P.A.C.E.) program to further assist small, women, and minority-owned businesses in accessing the capital they need for start-up and expansion.
Jul 12, 2007	Governor Kaine Announces Virginia's Top Business Ranking for Second Year Governor Timothy M. Kaine today announced that Virginia again led the nation in Forbes.com’s “Best States for Business” ranking. In its second year, the review examines multiple objective measurements, including business cost, regulatory climate, quality of the workforce, and economic growth. Forbes.com is the official Internet site of the Forbes family of business publications.
May 14, 2007	Governor Announces Business Appreciation Week Governor Timothy M. Kaine announced today that he has designated May 13-19, 2007 as Business Appreciation Week in the Commonwealth. Coordinated each year by the Virginia Department of Business Assistance (VDBA), the week is dedicated to celebrating contributions of Virginia businesses. This year’s theme, “Virginia – The Foundation of American Business,” salutes four centuries of commerce in the Commonwealth and acknowledges Virginia businesses for establishing the American economy.
Jan 30, 2007	GOVERNOR KAINES ANNOUNCES VIRGINIA SMALL BUSINESS FINANCING AUTHORITY WILL LOWER RATES, LENGTHEN TERMS Governor Timothy M. Kaine today announced enhancements to the Virginia Small Business Financing Authority’s (VSBFA) Direct Loan and Loan Guarantee programs. For new loans, the rate on the Direct Loan Program will drop by two percent, and the program’s term length will increase from a five-year to a 10-year maximum. The VSBFA’s Loan Guarantee Program term will also increase, from a three-year to a five-year guarantee.
May 15, 2006	GOVERNOR KAINE ANNOUNCES APPOINTMENTS Louisa M. Strayhorn of Virginia Beach will serve as Director of the Department of Business Assistance. Previously, Strayhorn was a management, workforce development and reengineering consultant for 18 years, specializing in minority, women-owned, and small businesses. In 2004, she was recognized with the Small Business Administration’s Regional Small Business Advocate of the Year Award and the SBA’s Minority Small Business Advocate of the Year for Virginia. She also is a former member of the Virginia Beach City Council. Linda Sharp Anderson of Richmond will serve as Deputy Director of the Department of Business Assistance. Previously, Anderson served as Deputy Secretary of the State Board of Elections, a position she has held since 2003. Prior to her appointment, Sharp Anderson served as Chief Executive Officer of The Metropolitan Business League in Richmond for ten years.
May 15, 2006	GOVERNOR KAINE DESIGNATES BUSINESS APPRECIATION WEEK RICHMOND – Governor Timothy M. Kaine has designated May 14-20th, 2006, as Business Appreciation Week in the Commonwealth. Coordinated each year by the Virginia Department of Business Assistance, the week is dedicated to celebrating the contributions of Virginia businesses. This year’s theme, “Navigating Virginia’s Future,” acknowledges the determination of the state’s corporate citizens.
Apr 24, 2006	VSBFA Partners with Community Reinvestment Fund, USA to Access Greater Economic Development Capital The Virginia Small Business Financing Authority (VSBFA) announced today it is partnering with the Minneapolis-based Community Reinvestment Fund, USA (CRF) to access greater capital for economic development.
Nov 01, 2005	Workforce Services Division Receives Telly Award The Virginia Department of Business Assistance recently announced that the agency’s Workforce Services Jobs Investment Program was honored with a Telly Award for the production of a client training video. The Annual Telly Awards honor outstanding local, regional and cable television commercials and programs, as well as quality video and film productions.
Oct 05, 2005	Governor Warner Announces Virginia Business Assistance Internet Portal Governor Mark R. Warner today announced the launch of an Internet portal that serves as a central point for business assistance information and inquiries, www.business.virginia.gov.

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