Two seniors win $2,000 in UR biz plan contest

Two University of Richmond seniors took one giant step Friday to fund their startup, which they hope to get off the ground after graduating in several weeks. On Friday night, Daniel Brunt and apartment-mate Christopher Genualdi pitched a panel of judges about their business, Sniff-Stick LLC, and won $2,000.

Q&A: In the driver’s seat (a used seat)

Not everyone is hunkering down. EverDrive, a Chesterfield business that serves as the Match.com of used car parts, hired 10 workers in March and is looking to bring on five more. In April, the company is rolling out a new feature that will let any customer in the lower 48 states buy a used engine or transmission online, have a tow truck come pick it up and bring it to a mechanic, and return the vehicle – all without having to make a call or get up from the easy chair.

Startup Journal: maker of trucking software trying to raise capital

Editor's Note: This is the first of what we hope are monthly features about local startups looking for funding. We are still searching for a catchy name. Company: Masslogics, Mechanicsville Product: Web-based workflow software which helps trucking companies manage fleets and expenses The Pitch: There are more than 150,000 trucking operations in the U.S. “Conservatively, half are using underpowered software or none at all. There is a huge market for small fleets,” says Ben Evans, who developed software that helps trucking companies track their shipments, revenue, vehicles, and expenses. Evans discovered the need for the software when he was running his own trucking company and could not find a suitable product within his budget. Traditional server-based products can cost $15,000 - $50,000. These systems require users to invest that amount up front and install server equipment which adds to the cost and management responsibilities. A Masslogics account starts at $150/mo. The software and data are hosted on Masslogics servers offering more security and reliability than the user can provide with his own equipment. The SAAS model has margins that approach 80%.

More SBA-backed loans in Virginia going into default

The number of delinquent Small Business Administration-insured loans in Virginia is rising. Last week BizSense reported that bankruptcy filings for businesses and individuals is rising in Richmond. The SBA could not provide statistics in time for that story, but we have them now for the state of Virginia. Fiscal Year: $ of purchased loans # purchased 2008 $9.4 million ...