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Southwest Virginia Community Development Financing, Incorporated
Abingdon VACDFI Awards for Southwest Virginia Community Development Financing, Incorporated
FA (2008) - $299,986
People Incorporated Financial Services (formerly known as Southwest Virginia Community Development Financing, Inc ) is a certified CDFI established in 2000 People Incorporated Financial Services provides business development, technical assistance and lending services for new and emerging businesses specifically targeting low-income populations People Incorporated Financial Services will use the FY08 Financial Assistance award of $200,000 to develop a line of consumer loan products and will use the FY08 Technical Assistance grant of $99,986 to pay for staffing for the first two years of its Consumer Loan Program and related training.
NMTC (2008) - $15,000,000
People Incorporated Financial Services (PIFS) will use its NMTC allocation to provide below-market rate debt in qualified low-income communities throughout Virginia and underserved Appalachian counties in southern West Virginia and northeast Tennessee. PIFS will provide both senior and subordinate loans at substantially below-market interest rates to non-real estate businesses that have an interest in acquiring, rehabilitating or otherwise developing real estate to support their business operations. The NMTC allocation will enable PIFS to finance larger, high-impact deals and better leverage state and local incentives to stimulate economic activity, growth and job creation in low-income communities.
FA (2007) - $200,000
Southwest Virginia Community Development Financing, Inc. (Southwest Virginia CDFI) is a certified CDFI and was organized in 2000 by its affiliate organization People Incorporated of Southwest Virginia. People Incorporated established Southwest Virginia CDFI to provide business development, technical assistance and lending services for new and emerging businesses throughout the region, specifically targeting low income populations. The CDFI will use Its FY07 FA to increase its lending activity and the delivery of development services throughout a seventeen jurisdiction service area in southwestern Virginia. It will use its TA grant to expand its lending and development services to more communities.
FA (2005) - $225,400
NESDEC will use the $642,200 financial assistance award to increase its provision of first mortgage loans. The technical assistance grant of $39,800 will be used to ensure that NESDEC"s organizational infrastructure is properly prepared for this expansion in products and services.
SECA (2001) - $50,000
The technical assistance award will cover the costs of consulting services for business planning, a market analysis, a capital plan, Board and staff training in effective governance and lending, and to purchase loan management database software.
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
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