News

Loans support new affordable senior living in Gloucester

August 4, 2020 | Impact Stories

Opportunity A new 40-unit apartment facility will provide needed affordable housing for seniors in Gloucester, Va. Being developed by Bay Aging, a nonprofit organization based in nearby Urbanna, Daffodil Gardens Phase II will include five fully accessible apartments. Daffodil Gardens Phase II will be constructed adjacent to the original Daffodil Gardens, which brought 64 units to the area in 2001. The complex includes the Gloucester Adult Day Care Center and a Bay Transit facility, which …

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Not-your-average “mobile” homes in Danville

July 21, 2020 | Impact Stories

OPPORTUNITY Now for sale in Danville: Manufactured homes, but probably not the kind you have in mind. Built offsite and delivered to a lot, these manufactured homes don’t have wheels. Instead, they feature improved durability, energy efficiency, aesthetics, and meet stringent quality standards. In addition to permanent foundations, the houses have higher-pitched roofs, sheetrock interiors, covered front porches, and offer low operating, maintenance, and utility costs. The homes are, in both appearance and construction, similar …

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Norton IDA redevelops key commercial complex in city’s downtown

July 13, 2020 | Impact Stories

Opportunity A four-building complex in the heart of Norton’s main business corridor largely remained empty for many years. Because location is everything in real estate, the Norton Industrial Development Authority (IDA) purchased the property in 2005, recognizing its business development potential. In 2012, one building was partially renovated to house a weekly indoor farmers’ market, a critical first step in reimagining this location as a “center of gravity” for future business development and social activity. …

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Eagles Nest Regeneration Returns to VCC to Fund Housing Expansion

July 6, 2020 | Impact Stories

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 …

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New Kent EDA Financial Assistance COVID-19 Grant Program

July 1, 2020 | Other

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 …

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NextGrid delivers 15 solar systems for low-income residences

June 29, 2020 | Impact Stories

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 …

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Cameron Foundation Renews $1 million investment with Virginia Community Capital to support Tri-Cities rebuilding

June 22, 2020 | Impact Stories, In the News

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 …

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Solidarity and Partnership

June 5, 2020 | Other

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 …

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Virginia Beach Community Development Corporation

May 14, 2020 | Paycheck Protection Program Loan Stories

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 …

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Leadership Metro Richmond

May 14, 2020 | Paycheck Protection Program Loan Stories

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 …

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