Community Programs

Focused impact areas supporting entrepreneurs and enhancing quality of life.

Conscious investors, nonprofit foundations, and organizations are always looking for opportunities to have a social and environmental impact in their community. We’re here to help and work alongside you as a partner.

Along with our incredible partners from the public and private sectors, VCC provides resources for businesses to expand and real estate developments to thrive. Some of our community programs have particular areas of focus to help specific communities in need.

Alleghany Highlands Loan Program

Through an investment grant from the Alleghany Foundation, VCC is providing $3 million in financing and assistance to advance a minimum of two community and economic development projects in the region. In addition, a $500,000 grant supports project readiness (research, staff, and lending time, materials, etc) and credit enhancements.

The Alleghany Highlands Loan Program kicked off in October 2015 and will run through 2018. Our goals are to provide ongoing technical assistance to projects in the market and deploy our financing to those in line with the vision for revitalizing the community.

For more information:

Martha Shifflett
Community Impact Advisor
540.230.1924

Email Martha

 

Brookland Park Loan Fund

The Brookland Park Corridor, in the Northside of Richmond, is an economically challenged community along a two and a half-mile stretch. Businesses there are a mix of retail and convenience stores, beauty shops, and some food services. On the rebound, this area is seeing an influx of new residents and renewed public and private investment.

With an investment from Capital One, VCC has established the Brookland Park Loan Fund and Advisory Services Program to provide targeted outreach and free advisory services to eligible business in the corridor. Advisory services are effective and necessary tools that small businesses depend on for responsible growth and access to lending capital. This program will end in December 2017.

For more information:

Carol Walker Reese
804.935.8528

Email Carol

Housing Catalyst Fund

The Housing Catalyst Fund was created to build more affordable rental housing in Virginia. The program is resourced by the Department of Treasury’s Capital Magnet Fund, blending a federal grant and capital from VCC to offer low-cost financing to private investment and other local, state, and federal funds. We offer low rates and flexible terms for short-term construction, bridge financing, or long-term gap financing.

Projects are limited to affordable rental properties only. Eligible borrowers include both for- and non-profit entities, housing authorities, and mixed-use developments.

For more information:

Corbin Anderson
Real Estate Loan Officer
804-344-5484

Email Corbin

 

Jeff Davis Corridor Small Business Program

The Jefferson Davis Corridor in South Richmond is a four-mile stretch that is both economically and socially disadvantaged. Businesses there are a mix of industrial, warehousing, retail and convenience stores, and automobile services.

Through a partnership with Altria and the City of Richmond, the program is deploying $2 million in loans to small businesses throughout the corridor. For eligible businesses, the program includes a combination of loan capital, interest rate buy-downs, credit enhancements, and financial capital advisors services.

For more information:

LaTilda Owens
Community Impact Advisor
804.344.5484

Email LaTilda

 

New Economy Loan Fund

Entrepreneurship has the potential to boost local economies by tapping local talent and resources and to help keep rural populations from declining even further.Through the New Economy Loan Fund, VCC is providing critical growth financing and technical assistance for small businesses and projects in the following nine counties: Buchanan, Dickenson, Giles, Lee, Russell, Scott, Tazewell, Washington, and Wise. These communities have relied substantially on the declining coal mining industry as a base for their local economies.

The loan fund will provide needed capital and targeted advisory services to small business owners to support growth and success of current economic priorities and initiatives already underway in these communities. The Virginia Department of Housing and Community Development’s (DHCD) has committed an investment of $100,000 to fund a loan loss reserve pool to support the fund’s lending activities.

For more information:

Sandy Ratliff
Community Impact Advisor
276.477.3999

Email Sandy

 

Resilient Community Loan Fund

Small businesses play an especially vital role in America, creating roughly two-thirds of jobs. Through the Resilient Communities Loan Fund, VCC provides critical growth financing and technical assistance for small businesses and projects in Virginia Department of Housing and Community Development’s (DHCD) program areas, which are primarily based in rural and small towns across the Commonwealth.

By blending private capital, partially backed by DHCD-funded loan loss reserves, VCC is well-positioned to respond to emerging economies in small towns throughout the Commonwealth.

For more information:

Zachary Petry
Small Business Lending
804.939.6172

Email Zachary

 

Virginia Fresh Food Loan Fund

When communities don’t have access to nutritious foods, citizens can’t function at their very best. More than 1.4 million Virginians lack access to healthy, local, or fresh foods. Many youth also shop regularly in the corner convenience store, consuming high-calorie snacks and beverages because they don’t have stores nearby that offer more nutritional foods and drinks. An unhealthy diet leads to a range of health risks including obesity, diabetes, and heart disease.

In short: Communities must have access to healthy foods if they are to thrive.

The Virginia Fresh Loan Fund is providing $10 million to finance fresh and local food access across the Commonwealth. Borrowers include food hub operators (locally sourced meats, fruits and vegetables), retail and wholesale distributors, processors and producers, and food business incubators. Loan amounts range from $50,000 to $1 million, with three- to seven-year terms for real estate and annually renewable lines of credit for working capital.

Mapping is an essential tool to use when analyzing access to healthy foods in your community. Our Food Mapping tool utilizes Policy Map’s data to highlight food access and limited supermarket access issues throughout the Commonwealth of Virginia.
View VCC’s Food Map

For more information:

James Wallace
Fresh Foods Advisor
804.793.0982

Email James