News

Habitat for Humanity of Greater Charlottesville

April 16, 2020 | Paycheck Protection Program Loan Stories

With the coronavirus (COVID-19) turning daily life and work upside down, Habitat for Humanity of Greater Charlottesville e recognized its daily outreach was even more critical. Across the nonprofit, every department contributed to a new mission statement to guide it through this pandemic. Habitat serves 2,000 families; half of those have lost their job or part of their income. At the top of the list is to finish and hand the keys of 10 near-complete …

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Habitat for Humanity Prince William County

April 16, 2020 | Other, Paycheck Protection Program Loan Stories

Habitat for Humanity Prince William County will use its PPP funding to rehire employees who were laid off when Gov. Northam’s Executive Order No. 55 — Stay-At-Home — went into effect in late March. Traci DeGroat, the organization’s President and CEO, said prior to the order, operations remained open. Habitat Prince William had implemented safety protocols and limited customers to less than ten at any given time in its home-improvement and donation-center locations, ReStore. “Once the order took effect, however, the drop in revenue was so precipitous …

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HOPE Pharmacy

April 15, 2020 | Paycheck Protection Program Loan Stories

While she seeks assistance herself, Dr. Shantelle Brown, owner-operator of Hope Pharmacy in Church Hill, is doing her part to help others in the community impacted by the pandemic. Last year, VCC helped get Dr. Brown’s business established with a Small Business Administration-backed loan to build out the pharmacy and purchase equipment and furniture. Our team also helped her acquire an additional SBA line of credit for working capital, payroll, and inventory. Due largely to …

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CEO Message: COVID-19

April 1, 2020 | Other

A message to our clients, partners, and friends regarding the COVID-19 pandemic from Virginia Community Capital President and CEO, Jane Henderson.

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Strengthening relationships with mission-focused organizations

March 6, 2020 | Impact Stories

Arlington Partnership for Affordable Housing (APAH) is a nonprofit affordable housing developer with a focus on both places and people. Founded in 1989 to meet the urgent housing needs in Arlington, they are committed to supporting low-income neighbors across the DC metro region. They offer more than 1,800 apartments and have more than 650 in development to become available within the next three years. As rents outpace income, APAH believes safe and affordable housing provides …

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Long-time sales leader purchases Birsch Industries

February 25, 2020 | Impact Stories

Borrower : J&L Hermes Supply, LLC Where : Virginia Beach, VA Loan Amount : $1.3 million; $200,000 line of credit Project Type : SBA 7(a) Loan   Opportunity After working for Birsch Industries for 23 years – including overseeing the day-to-day operations in the last year – Joshua Hermiz, along with his wife, Laura, wanted to buy the long-term successful business. Founded in 1964, Birsch Industries manufactures and distributes cleaning supplies and office products. The Birsch …

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Creative Invention of Hotel Greene indoor miniature golf course comes to life with SBA loan

February 19, 2020 | Impact Stories

Borrower : Hotel Greene and Greenleaf’s Pool Room Corp. Where : Richmond, VA Loan Amount : $400,000 Project Type : SBA 7(a) Loan Opportunity Updating a historic hotel for modern purposes requires a solid investment. And when you’re converting a portion of such a property – namely, the legendary Hotel John Marshall in Downtown Richmond – into a 13-hole indoor miniature golf course, you need to find an investor who shares your creative vision. The …

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A developer with a deposit to create more impactful development

February 7, 2020 | Impact Stories, In the News

Over more than two decades, Robin Miller has made a name for himself and his firm, Miller & Associates, as one of Virginia’s most prolific developers. Focusing on adaptive re-use of historic structures and infill in urban communities, Miller and his team are behind more than $100 million worth of prominent historic tax credit projects and new construction in Richmond’s Jackson Ward, Manchester, and Church Hill neighborhoods, along with properties in Petersburg and Staunton. So …

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New national investment pool names Richmond manager

January 29, 2020 | In the News

LOCUS Impact Investing has been named the program manager for the Community Investment Guarantee Pool, a group of ten philanthropic organizations across the United States and a large healthcare system serving as a catalyst for more than $150 million in new community investments in small businesses, climate and affordable housing. The first of its kind in the U.S., the project made a splash in national media, and even caught the attention of Forbes. Here are a …

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Construction Loan Will Renovate Affordable Housing in Courtland 

January 13, 2020 | Impact Stories

Borrower : Stevens Woods II Apartments Limited Partnership Where : Courtland, VA (Partnership based in Rockville, Md.) Loan Amount : Up to $1.75 million Project Type : Construction Loan, Low-Income Housing tax credit funding   Opportunity Providing affordable, up-to-date housing is essential in rural communities, such as Courtland, Va. located near the state’s southern border. Stevens Woods II is a well-managed and nearly fully occupied complex, with 10 percent of its rental units reserved for …

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