In the News

Helping advisers and their clients create impact

November 25, 2019 | In the News

When individuals or institutions hold deposits at a bank, the money doesn’t have to remain stagnant. “We see the potential for cash deposits to be a catalyst for impact,” says Eli Dalven, Impact Investing Associate at Loring, Wolcott & Coolidge (LWC), a trust office based in the heart of Boston. As a fiduciary, LWC has made a unique commitment to sustainable investing and community development, as one of the first trust offices to offer clients …

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Governor Northam Announces Launch of Opportunity Virginia

October 22, 2019 | In the News

Partnership between Commonwealth and Virginia Community Capital to create Opportunity Zone marketplace will help increase investment in low-income communities FOR IMMEDIATE RELEASE Date: October 22, 2019 Office of the Governor Contact: Alena Yarmosky Email: Alena.Yarmosky@governor.virginia.gov Virginia Department of Housing and Community Development Contact: Amanda Love Email: Amanda.Love@dhcd.virginia.gov CHARLOTTESVILLE—Governor Ralph Northam today announced the official launch of Opportunity Virginia, a new initiative designed to leverage the federal Opportunity Zone program. Governor Northam made the announcement during …

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Creating new opportunity for communities with innovative lending

October 4, 2019 | In the News

In 2016, Fahe, a regional Network, financial intermediary, and CDFI, received $50 million in loan awards from the USDA Community Facilities Relending Program to pursue its mission: ending persistent poverty in Appalachia. Among its numerous initiatives, Fahe sought to build several community facilities, including daycare and opioid-addiction rehabilitation centers. However, a key barrier hindering the deployment of the USDA’s Community Facilities capital is not being able to use awards for construction projects. Borrowers must find …

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VCC Sponsors farm-to-table fundraiser in the Alleghenys

September 20, 2019 | In the News

By Francesca Costantino, Community Impact Advisor VCC sponsored the Allegheny Mountain Institute’s (AMI) fundraiser for the Farm at Augusta Health in Fishersville, VA. The farm-to-table dinner included dishes from the farm and live music from an old-time band. In 2017, AMI established an organic vegetable farm and educational programming on farming and nutrition on the Augusta Health grounds.  The Farm provides nutrient dense produce for the health center food system, the Food Pharmacy program, and …

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Family secures SBA loan to operate Sowing Seeds Academy

September 12, 2019 | In the News

Borrower : Bridget Holt-Taylor, Michael Page, Crystal Holt Where : Richmond, VA Loan Amount : $193,000 Project Type : Small Business Association 7(a) Loan   Opportunity Quality, reliable childcare is critical for working families and ensures economic viability in our communities. Bridget Holt-Taylor and Crystal Holt wanted to purchase the assets of the former Phase II Neighborhood After School and Child Development Center to establish the Sowing Seeds Academy. Bridget Holt-Taylor would direct the academy, while …

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Opportunity Virginia Unveils Opportunity Zone Website and Announces Partnership with The Opportunity Exchange

September 11, 2019 | In the News

Opportunity Virginia, an initiative of Virginia Community Capital and LOCUS Impact Investing, launched its new Opportunity Zone website for the Commonwealth of Virginia and announced a partnership with The Opportunity Exchange, a national project and impact-tracking platform that helps communities maximize the impact of the federal “OZ” program. The two will work together to identify, support, and showcase OZ projects from across Virginia to the growing number of eligible investors nationwide. The site is found …

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Equipment loan part of the package for economic growth in Russell County

August 23, 2019 | Impact Stories, In the News

Borrower : Industrial Development Authority of Russell County Where : Lebanon, VA Loan Amount : $2.7 million Project Type : Equipment loan   Opportunity Economic growth requires a long-term vision and strategy. The Industrial Development Authority (IDA) of Russell County recognized that Southwest Virginia could attract global manufacturers because of its access to Interstate 81 and a readily available workforce. To proactively foster a supportive business climate, the IDA constructed a 76,000-square-foot shell building in Lebanon, …

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Restoring natural areas in Henry County for recreation and conservation

August 6, 2019 | In the News

By Francesca Costantino, Community Impact Advisor at VCC After an affordable housing conference, I spent the morning on the Smith River of Martinsville – Henry County near the North Carolina border in southern VA with Brian Williams, placemaker and river protector. The Smith is known for its native brown trout fishery, supported by the cold water released for power generation at Philpott Dam. Though I thought I was just getting a river guide, Brian happened …

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