Loudoun Economic Development Newsletter August 2016
Carl Fairbank explodes the myth about "borrowing to grow."
Are You a 
Binge Borrower?

"I've watched too many good small businesses fall down the rabbit hole of debt until they are so over-levered they go out of business," warns Carl Fairbank, founder and CEO of Breakout Capital. The direct funding company is one of our newest resource providers on Loudoun SourceLink. 

"We invited them to partner with us because of their transparency and their rigorous code of ethics," Vanessa Jozwiak explains. The company joins Accion, Blu Venture Investors, StreetShares and others you can explore with our Resource Navigator. And don't forget to read Fairbank's blog post to find out how binge borrowing can hurt your business -- and what you can do instead.

Featured Events

Basic Training: Small Business Guide to Federal Contracts
Monday, August 8 at 9 a.m.
A highly recommended and informative first step for businesses new to federal contracting. Registration details.

Navigating the FAR/DFARS: The Most Confusing and Little-Known Clauses 
Monday, August 22 at 10 a.m.
During this session you'll look at some of the most confusing and poorly understood FAR and DFARS provisions to give you a leg-up on your competition. Sign up here.

Makersmith's Open House
Thursday, August 25 at 6:30 p.m.
Take a tour of 3,000 square feet of workrooms with CNC mills, 3D printers, a 100-watt laser cutter, woodworking and metalworking tools, meeting space, storage space and more. Details here.


Loudoun Small Biz News
  • Cyber security startup PhishMe, based in Leesburg, raised $42.5 million in a funding round led by Paladin Capital Group based out of Washington, D.C.
  • Belcan, a Cincinnati-based provider of engineering consulting and technical staffing services, said it has acquired Leesburg-based Intercom Consulting & Federal Systems, a provider of specialized I.T. services to the federal government.
  • Modern Mechanical in Ashburn was featured on the Washington Business Journal's list of top mechanical contractors in the region.
  • Satellite service company Omnispace LLC in Sterling raised more than $8 million in a fundraising round targeting their expansion efforts.
  • Co-founder and CEO of Ashburn-based Aperiomics, Crystal Icenhour, Ph.D., has just become board chairman for Virginia Bio, the first woman in the organization's 24-year history to hold this position.
  • Zaius, Inc. an engagement platform that optimizes consumer experience, won $8 million in an expansion round.
In July the Department of Economic Development celebrated the ribbon-cuttings of Soldierfit-Sterling, Mr. Appliance, Kawai Piano Company, Canine Training and Veteran Support Center and Forbes Insurance.
Let Us Help You

Vanessa Jozwiak is Loudoun Economic Development's small business and entrepreneurism manager. She can help you find resources to start or grow your business. That means introducing you to people who can help you write a business plan, find office space, analyze funding sources, navigate the permit process, or anything else outlined in our small business quick-start checklist. Contact Vanessa at 703-777-0585 or by email.
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