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Truist has committed $7 million to support BIPOC- and women-led businesses Virginia Community Capital (VCC) has received a $7 million investment from Truist to support VCC’s Economic Equity Fund, a loan fund expanding access to capital and technical assistance for small business owners who are women and/or Black, Indigenous, or People of Color (BIPOC). The fund is a statewide resource, available to eligible borrowers in the Commonwealth of Virginia. VCC is a statewide community development …

NORFOLK, Virginia – November 2, 2022 – Virginia Community Capital (VCC) has received a $100,000 investment from Dollar Bank to bolster technical assistance for small business owners who are women and/or Black, Indigenous, or People of Color (BIPOC). The funding will specifically support VCC’s services in the Hampton Roads region through the organization’s Economic Equity Fund. VCC is a statewide community development financial institution (CDFI) that serves low-to-moderate-income communities in Virginia. VCC’s Economic Equity Fund …

Want to know what’s on our CEO’s mind this month? Find out below! Partners and Friends,  October was an exciting and busy time for VCCSE. As I expressed in our last newsletter, VCCSE is positioned to lead the field of community development through the performance of our lending and advisory services (VCC Bank, our loan fund, and LOCUS), our participation in Community Development Financial Institution (CDFI) industry events, and by utilizing our voice on critical …

Want to know what’s on our CEO’s mind this month? Find out below! Partners and Friends,  As summer has wound down, we at VCCSE are at the start of a busy fall season. We kicked off the season with an All Staff Retreat in Richmond, VA on September 15th. It was such a joy to be with almost every member of our team in person! We started the afternoon with a session facilitated by our …

Set within the colorful exuberance of the Arts and Culture District in Richmond, Virginia, 1708 Gallery sits in between busy restaurants, hotels, and museums. While the sounds of the newest exhibit resonate throughout the long and lofty space, plans within the office are unfolding for a bold new project. The idea of a live-in artist residency program has long captured the imaginations of the 44-year-old nonprofit’s leaders and community. The organization’s mission is to create …

Want to know what’s on our CEO’s mind this month? Find out below! Partners and Friends, I am excited about the launch of our new VCCSE newsletter. Each month, our staff will have the opportunity to share our work with our customers, investors, and the communities we serve. The newsletter will offer a moment for us to share more about our lending and advisory work through VCC Bank, VCC loan fund, and LOCUS. We will …

Nestled near the Downtown Mall in the bustling heart of Charlottesville, Virginia, stands a community of 150 families called Friendship Court. Echoes of children at play bounce across the buildings in between the sounds of excavators and delivery trucks. Construction workers and engineers are up early, working to build not only new homes, but the foundation of a new chapter for this community.  Many others are working alongside the builders to bring the vision to …

Virginia Community Capital (VCC) was recently chosen to receive a one‐million‐dollar impact investment toward its new Affordable Housing Loan Fund by the Community Foundation for a greater Richmond. The revolving loan fund will provide access to low‐cost capital for mission‐driven developers working to meet the growing need for affordable housing in the Richmond area. According to a recent report, Virginia has a shortfall of more than 200,000 affordable homes; nearly 20% of which are in …

An update from Fredericksburg Food Co-op’s Rich Larochelle  The Opportunity Virginia team began working with Rich in 2020 to assist with their capital raise and leveraging Opportunity Zone financing. Since then, The Fredericksburg Food Cooperative has celebrated several major milestones. Opportunity Virginia Market Manager, Cara Simpson (pictured left), sits down with Rich to learn more about the project’s progress, how other people can replicate the co-op’s success, and the impact OZ financing had closing out …

Virginia Community Capital (VCC) was named a recipient of Emergency Capital Investment Program (ECIP) funding by the U.S. Department of the Treasury on Tuesday. VCC qualified to receive $36.4 million and is one of three financial institutions in Virginia to be awarded.