Deposit Rate Sheet 06-12-2019
Innovative partnerships supporting our communities
When Mark Constantine stepped into his role as president and CEO of the Richmond Memorial Health Foundation, his directives from trustees were clear: Create positive social change through sustainable, socially responsible funding strategies. “One of the expectations from the Board was for me to think about what we could do at the intersection of health equity, the social determinants of health, and impact investing,” he recalls. RMHF’s trustees and stakeholders were interested in the idea of …
New ownership brings new ideas to a specialty market in Gloucester
Borrower : Kelsick Specialty Market Where : Gloucester, VA Loan Amount : $107,000 Project Type : Small Business Administration Loan Opportunity Paige Drewry wanted to join the Main Street movement in the Chesapeake Bay village of Gloucester. She found the right opportunity in Kelsick Specialty Market, which had brought cheese, fresh pasta, wine and craft beer to the small town’s Main Street for 25 years. Its previous owner, Beth Haskell, was ready to retire when …
SCORE: Alternative sources of funding for small businesses
From the Richmond Time-Dispatch
Supporting healthy and affordable food in Brookland Park
Borrower : Nomad Deli Where : Richmond, VA Loan Amount : $144,500 Project Type : SBA 7(a) Term Loan Opportunity Nomad Deli has been making its culinary mark in Richmond’s Brookland Park area since 2015. Founder Anthony Tucker opened the restaurant in an area lacking freshly prepared food wanting to fill that gap with affordable, fresh options and, as he says, “Put somethin’ good in ya mouth.” The minority-owned restaurant has run successfully with Anthony …
VCC Bank targets Southeast expansion through ongoing USD 10m capital raise, CEO says
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 …
A space to gather and create in Richmond’s East End
Borrower : Oakwood Arts Where : Richmond, VA Loan Amount : $340,000 Project Type : Acquisition and Construction Loan Opportunity In 2017, Shannon Castleman had a vision for Richmond’s growing East End — a place where neighbors could gather together to express themselves freely through art and create lasting relationships. She saw this potential in a location where others might have seen an unused and abandoned church building. To Castleman, the church symbolized a beacon of artistic entrepreneurship, leadership, …
Healthy Foods and “Hope” to Richmond’s East End
Borrower : Market at 25th and Hope Pharmacy Where : Richmond, VA Loan Amount : $1.5 million (Market) and $150,000 (Pharmacy) Project Type : Fresh Food Loan Fund (VFFLF), SBA 7(a) term loan, SBA Express Line of Credit Opportunity The Market at 25th ranks among Richmond’s most anticipated economic development projects in recent times. The Church Hill development, with backing by prominent business and civic leaders, will bring a much-needed grocery store and healthy foods …
Governor Northam Announces Initiative to Encourage Growth in Virginia’s Opportunity Zones
Commonwealth to partner with Virginia Community Capital to create online marketplace matching investors with communities.
Creating more affordable housing in Warrenton
Borrower : Foothills Housing Corp. Where : Warrenton, VA Loan Amount : $2 million Project Type : Commercial Real Estate Loan Opportunity In 1970, Foothills Housing Corp. started making improvements to single-family homes that lacked indoor plumbing and has continued to grow throughout the years. Today, the nonprofit offers services such as emergency home repair, disability ramps, and energy efficiency services for low-to-moderate income families and seniors. They also develop and manage a number of …