CRAN makes $100K investment in Greenbrier business
A Greenbrier County small business specializing in the aging of beef will expand operations with a new processing facility, thanks to a $100,000 investment made possible by the Country Roads Angel Network (CRAN).
Mountain Steer Meat Company, in White Sulphur Springs, makes West Virginia-raised and processed beef available to local grocery stores, markets and restaurants. By having its own processing facility in the target area, the company can provide a variety of fresh beef products to area residents and merchants immediately after packaging.
“The beauty of this investment is that Mountain Steer started with us as a client of the West Virginia Hive to seek help with its business plan, marketing, and logistics, and in a short time they have successfully secured a healthy investment to significantly expand operations,” said Judy Moore, Managing Director of CRAN and Executive Director of the WV Hive, a business consulting firm under the auspices of the New River Gorge Regional Development Authority.
Huntington National Bank leads nation in SBA loans
Huntington National Bank is the nation’s largest originator, by volume, of Small Business Administration (SBA) 7(a) loans for the fourth consecutive year at the close of SBA fiscal year 2021, according to a news release. This marks the 13th year in a row Huntington has been the largest originator, by volume, of SBA 7(a) loans within its footprint.
This announcement follows Huntington’s efforts throughout the pandemic to support its customers. It processed more than 47,000 Paycheck Protection Program loans across its footprint this year, for a total of 85,000 since 2020. These loans provided support to businesses during an extremely difficult time and further demonstrated the bank’s commitment to looking out for people.
United Bank executive named to Business Journal’s Power 100 class
United Bank chairman and chief executive officer Richard Adams has been named to the Washington Business Journal’s Power 100 class of 2021.
According to the Journal, “under Richards’ leadership United Bank has acquired bank after bank — most recently, Richmond-based Essex Bank in a $303 million deal in June — to become the region’s largest locally based community bank ... Adams oversaw the bank’s 9,000 paycheck protection program loans worth a total of $1.3 billion across its footprint, with about $634 million for Greater Washington small businesses, all while avoiding layoffs and expanding benefits for its own staff in 2020.”
United, officially listed as headquartered in West Virginia, has an extensive presence in northern Virginia, as evidenced by Adams’ award.
Marshall County operation wins Conservation Farm of the Year
A cow/calf farming operation near Moundsville, in Marshall County, that implemented numerous best management conservation practices for more than 15 years has won the 2021 West Virginia Conservation Farm of the Year award.
The West Virginia Conservation Awards Council presented the award to Meadow View Farms, which is owned by Jeff and Janet Allen. The Allens and daughter Kelsey have operated their nearly 202-acre Northern Panhandle farm since 2006.
Due to COVID-19, this year’s award was presented during a virtual ceremony.
Charleston mayor Goodwin announces small-business grants
Charleston Mayor Amy Shuler Goodwin announced 19 businesses have been awarded Small Business Investment Grants. The funds awarded totaled $161,496.
Businesses awarded include Baskin Robbins ($10,000); Blue Ridge Art Corporation ($10,000); Crescent Counseling Group LLC ($3,600); Danny’s BBQ Stand ($9,069.48); Good Shepherd Child Development Center ($10,000); Greater WV Dog Training ($6,100); Kanawha City Yarn Company ($10,000); Lee Street Lounge ($10,000); Lee Street Parking LLC ($5,708); Leonoro’s ($10,000); Petit Jewelry Design ($8,894.10); Piggly Wiggly ($10,000); Sharp Insurance Agency ($5,400); Simon Painting Services ($9,754.42); Sniviac ($8,760); State Street Properties ($10,000); TD Land Company LLC ($10,000); The S’waffle Shack ($10,000); The Wine Shop ($4,300).
Auxo Investment acquires Genesis Rail Services LLC
Private investment firm Auxo Investment Partners announced it has acquired Genesis Rail Services LLC, a full-service railroad maintenance company based in Bluefield, W.Va. and Roanoke, Virginia.
As part of the transaction, Cody Harman, son of company founder Jeff Harman, will retain a minority ownership stake in the company and continue in his role running day-to-day operations. In addition, railroad industry veteran John McPherson will serve as Auxo’s operating partner and a board member.
Founded in 2009, Genesis Rail Services provides outsourced mission-critical maintenance of way (MOW), mechanical and construction services to Class I, Class II and industrial railroads across the country.