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Hampton Roads Ventures, LLC
Norfolk VACDFI Awards for Hampton Roads Ventures, LLC
NMTC (2009) - $60,000,000
Hampton Roads Ventures (HRV) will use its NMTC allocation to finance community economic development real estate projects. By lowering borrowing costs and offering loans to entities not served by the market, HRV will fund mixed-use developments, community facilities, and small business centers. Through its investments, it seeks to facilitate opportunities for residents of low-income communities to become co-owners of the major commercial real estate assets in their communities. In addition, it aims to spark the revitalization of the often severely distressed communities around local Historically Black Colleges and Universities.
NMTC (2007) - $50,000,000
Hampton Roads Ventures (HRV) will target its NMTC investments to real estate projects that are often crucial to spur community revitalization efforts, including community, medical, and hospitality facilities; mixed-use projects; for-sale housing; and historically and architecturally significant structures that often served as cultural icons for lower income communities. HRV will use its allocation to provide highly flexible financing products tailored to specific project needs, including subordinated debt, below market interest rates, higher loan to value ratios, and longer interest-only periods. HRV will work in collaboration with several Virginia-based CDFIs to help increase the availability of NMTC investment opportunities in rural Virginia.
NMTC (2005) - $35,000,000
Through NMTC, Hampton Roads Ventures, LLC(HRV) will be able to bring innovative financial products to lower-income communities throughout Virginia, including debt with equity features, subordinated debt, and debt with interest rates of up to 300 basis points less than the prevailing market rates.
Other Community Development Financial Institutions in Virginia
123 New Market Investors, LLC
Great Falls
Business Seed Capital, Inc.
Roanoke
ECDC Enterprise Development Group
Arlington
Hampton Roads Ventures, LLC
Norfolk
Lynchburg Community Loan Fund
Lynchburg
Minerva Seed Fund
Fairfax City
NCB Capital Impact
Arlington
New Enterprises Fund, Inc.
Christiansburg
Piedmont Housing Alliance
Charlottesville
Southside Development Enterprises, LLC
Portsmouth
Featured Government Grant Resources
Small Business Administration's Small Business Investment Companies
The Small Business Investment Companies Program revolves around the notion of developing privately owned and managed investment companies which will be licenses and regulated by the Small Business Administration, so as to provide equity capital, long term loans, and advisory services to small business requiring such services.
Small Business Administration's Portable Assistance Program
The Small Business Administration has established the Portable Assistance Program wherein they seek to provide grants to Small Business Development Lead Centers that provide services to small businesses in an effort to increase the success of small business establishments and their viability in certain communities where economic hardship is apparent and is attributable to the impact of a major disaster.
Social Entrepreneurship
Spotlight
Calgary Social Enterprise Offers High-Tech Services by People with Autism
Meticulon, a project of Autism Calgary Association in partnership with the federal government and the Sinneave Family Foundation, operates as a social enterprise that renders high-tech services provided by people with autism, leveraging their natural abilities at requiring attention to detail, repetition, and sequencing.
