VCC awarded $1.8 million from U.S. Treasury’s CDFI Rapid Response Program

June 16, 2021 | In the News

Yesterday, Vice President Kamala Harris, Treasury Secretary Janet Yellen, U.S. Senator Mark Warner, and U.S. Representative Maxine Waters announced the U.S. Treasury’s award of $1.25 billion in COVID-19 relief funds to 863 community development financial institutions (CDFIs) nationwide. Distributed via the Treasury’s CDFI Rapid Response Program (CDFI RRP), this funding will support CDFIs in their efforts to increase access to capital in communities hardest hit by the pandemic. Virginia Community Capital (VCC) is thrilled to announce that we will receive $1.8 million in CDFI RRP funding, which will support us as we further our mission to meet the financing needs of economically excluded communities across the Commonwealth.

“We are excited to add this equity to our fund balances,” said Jane Henderson, VCC President & CEO. “This additional capital allows us to grow our impact, particularly as we continue to provide relief to communities affected by COVID-19 and long-standing systemic inequities found in traditional finance.”

To read more about the award and the CDFI Rapid Response Program, visit the CDFI Fund’s website.