In the News

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 …

Read More

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 …

Read More

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 …

Read More

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 …

Read More

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, …

Read More

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 …

Read More

VCC Bank targets Southeast expansion through ongoing USD 10m capital raise, CEO says

May 17, 2019 | In the News

Featured in Mergermarket by Xinyi Jiang in Charlottesville, Virginia VCC Bank, a for-profit commercial bank owned by nonprofit Virginia Community Capital (VCC), plans to expand into more Southeast states and within Virginia, bolstered by an ongoing USD 10m capital raise, said CEO Jane Henderson. The bank, which opened in 2008, focuses on making loans in Virginia to support affordable housing projects, small businesses, healthcare, clean energy initiatives, and other projects that improve access to healthy …

Read More

HomeTrust Bank announces $2.5 million investment with Virginia Community Capital

April 3, 2019 | In the News

  HomeTrust Bank announced a $2.5 million investment with Virginia Community Capital (VCC), a community development financial institution serving communities throughout the Commonwealth and the U.S. HomeTrust Bank’s commitment includes directing its funds into three LIONs (Local Impact Opportunity Notes) with VCC to benefit the areas of Roanoke, Martinsville, and Danville. The investment from HomeTrust—a community-focused financial institution with 10 branches in Southwest Virginia —will support VCC’s mission of fostering vibrant communities in Virginia. There …

Read More