News

Opportunity A faith-based substance abuse rehabilitation ministry – and long-time VCC client – has had to turn away patients and visiting families due to lack of space. Based in Virginia’s picturesque New River Valley, Eagles News Regeneration is at capacity with 24 men enrolled in the residential treatment program. Eagles Nest Regeneration was founded in 2006 by William and Tonya Maddox. William “Robbie” Maddox is a former associate pastor who has worked on the front …

The New Kent County Economic Development Authority has established a grant program for businesses that are physically located in the County to provide aid to address financial issues resulting from the COVID-19 pandemic and state government ordered shutdown of non-essential businesses and modifications to all other businesses. Applications opened today, July 1, 2020, and grants will be awarded to qualified applicants by lottery at 9 a.m. on Friday, July 24, 2020 at the New Kent …

Opportunity By 2032, Washington, D.C., will require 100 percent of the electricity used in the city to be renewable – one of the most aggressive clean energy targets in the country. This ambitious goal is predicted to cut greenhouse emissions by 50 percent over the next 12 years. One tool available to electric utilities serving Washington to meet this goal is Solar Renewable Energy Certificates (SRECs). SRECs provide a financial incentive for building owners to …

Partnership spurred $5.5 million in Tri-Cities development since 2017 PETERSBURG, VA (JUNE 22, 2020) – Three years after its successful initial investment, The Cameron Foundation has renewed a $1 million loan and deposit with Virginia Community Capital (VCC), a community development financial institution that makes impact investments throughout the Commonwealth. As the community begins to reopen from the COVID-19 closures, the funds will be deployed into the Tri-Cities and other areas in Cameron’s footprint, supporting …

To our communities and partners, Today, and every day, we stand in support of our Black neighbors and communities who continue to suffer injustices and loss of life due to the color of their skin. With the backdrop of the disproportionate impact of COVID-19 on people of color, the pain, suffering, and anger resulting from the murders of Ahmaud Arbery, Breonna Taylor, George Floyd, and many others have touched every neighborhood in our country. In addition …

Providing housing and support services is essential during a pandemic. The Virginia Beach Community Development Corporation helps to provide quality affordable housing opportunities to low- and moderate-income people. A Paycheck Protection Program loan is covering payroll and related costs for VBCDC’s 26 employees, so they can keep serving the community. When the PPP was announced, the nonprofit immediately reached out to two partner banks. “VCC was quick to respond and continued to be very responsive throughout …

When the first Paycheck Protection Program loan program was announced, Myra Smith, President and CEO of Leadership Metro Richmond, reached out to LMR’s primary bank, a large financial institution. She ran into hurdles and unresponsiveness, and the application didn’t get submitted before the program ran dry. When more funding was released, Smith turned to VCC and found a quick, timely, and helpful process. “VCC eased our anxiety,” Smith says. “We found support and a comprehensive …

As the pandemic continues, having access to food and jobs is critical. La Cocina VA is addressing that need by using Paycheck Protection Program funds to pay its five employees. It’s also hiring an operations manager who will help finalize processes and procedures needed to open its much-anticipated Zero Barriers Training and Entrepreneurship Center (TEC) this summer. The loan also is covering rent and utilities. The application process was clear, easy, expedited, and supported by …

Northern Trust Corporation is partnering with the Self-Help Fund, the National Development Council (NDC) CDFI Subsidiary Grow America Fund (GAF), immito, and others to provide $100 million in low-cost funding to CDFIs to help them provide loans to small businesses and nonprofits via the federal Paycheck Protection Program. Virginia Community Capital is among the group of nationwide recipients of these funds. Read more here.

Kate Ayers and the team at ReEstablish Richmond have suddenly found themselves on the front lines of the COVID-19 pandemic. Since 2010, ReEstablish Richmond has helped to bridge a gap in services for refugees and help them navigate the many government programs available to secure housing, jobs, and basic human needs — and, ultimately, permanent residency and citizenship. Nationwide, refugees and immigrants are among the most deeply impacted by stay-at-home orders and economic lockdowns. Earlier this …