The U.S. Department of Treasury announced it 2013 Community Development Financial Institutions (CDFI) awards yesterday and Virginia Community Capital (VCC) is among the grant winners of this prestigious annual program. VCC will receive a grant for $1,347,000 to expand lending and diversify product offerings. This year’s awards top the 2012 allocation, representing the largest designation of award dollars and award recipients in the CDFI Fund’s 19-year history.
“The CDFI Fund grant helps VCC continue to do important work across Virginia, increasing our investments and lending in low-income communities,” said Jane Henderson, President and CEO of VCC. “This year’s allocation strengthens ongoing efforts to preserve affordable housing and support economic development. Our partnerships with localities, agencies, and individuals help restore vibrancy to our Main Streets and extend financial security to all citizens.”
The U.S. Department of the Treasury’s CDFI Fund was established in 1994 to promote economic development in the nation’s disadvantaged urban and rural communities. One of the primary ways the CDFI Fund works to achieve this goal is by investing in and building the capacity of certified CDFIs through the CDFI Program and other funding vehicles.
Learn more about the announcement at: CDFI Fund News