Virginia Community Capital
Virginia Community Capital is a Community Development Financial Institution (CDFI) with a mission to create jobs, energize places, and promote an enhanced quality of life for Virginians. With offices in Christiansburg, Norfolk, and Richmond, we offer innovative and flexible financing tools throughout the state. In addition, we provide professional advisory services to individuals and organizations in low-to-moderate income and underserved communities. Virginia Community Capital’s subsidiary bank, VCC Bank, is an FDIC-insured, certified CDFI bank. VCC Bank offers banking products tailored to community banks and socially conscious investors. We also provide personal and business deposit products, including checking, savings, and certificates of deposit.
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, borrowers may not use awards for construction projects. The timing was also sensitive, as these USDA funds must be drawn by September 30, 2021. Fahe needed construction money, and it turned to Virginia Community Capital to accomplish its goals.
Virginia Community Capital will host the 2019 Learning Exchange at the Science Museum of Virginia on December 11. This year's Learning Exchange, themed "What's Next", will feature five different speakers delivering a TED-style talk lasting no more than 12 minutes each on trends impacting our communities such as housing, impact investing, technology, and clean energy. The Learning Exchange's main goal is to provide frameworks/ideas the statewide audience can easily digest and apply to their unique communities. These ideas tend to challenge conventional thinking, offer tools and resources, and bring innovative perspectives to Virginia's communities.
Every year, B Lab recognizes the top-performing B Corps creating the greatest impact through their businesses. Honorees are recognized for having the highest environmental, community, customer, worker and overall impact by earning a score in the top 10% on the B Impact Assessment, as well as a list recognising B Corps with the greatest impact improvement (the changemakers). These businesses are proving that competing not only to be best in the world but best for the world is a winning strategy, and they can lead the way as mainstream businesses join our movement. This year, 4 CDBA members were named Best for the World: Beneficial State Bank, Spring Bank, Sunrise Banks, and Virginia Community Capital.