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Portsmouth EDA selects Bridging Virginia to administer small-business capital program
Summary
The Economic Development Authority voted to move forward with Bridging Virginia as the preferred administrator for a small-business capital program after reviewing three proposals; staff said the recommended vendor proposed a $100,000 annual administrative fee and a multi-year contract option.
The Portsmouth Economic Development Authority on Aug. 18 approved moving forward with Bridging Virginia as the preferred administrator for the authority’s small-business capital program.
Staff said the authority issued an RFP in November and closed it in December, receiving three proposals: AGH Advisory Services, Bridging Virginia, and Fund First Inc. An evaluation panel that included EDA staff and two commissioners interviewed all three…
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