News

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 …

Read More

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 …

Read More

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 …

Read More

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 …

Read More

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 …

Read More

Supporting the Byrd experience and the community it serves

January 7, 2020 | In the News

One of the most iconic buildings in Richmond is the Byrd Theatre, located in the heart of one of the city’s most admired neighborhoods, Carytown. “Virginia’s Grand Motion Picture Palace” was built in 1928, and recently celebrated its 90th birthday. Today, the theatre shows second-run movies, big-screen classics, and family friendly films and of course, the beloved anti-litter trailer shown before every one of them. The Byrd Theatre Foundation, owner of the theatre, was established in 2001 as …

Read More

Lynn Street Market closes fresh food gap in Downtown Danville

December 10, 2019 | Impact Stories

Borrower : SS Lofts LLC Where : Danville, VA Loan Amount : $300,000 for renovation; $1,785,000 to purchase the property Project Type : Fixed-term and real-estate loans   Opportunity Revitalization in Downtown Danville has transformed old commercial buildings into new retail and housing complexes. Included in this transformation is the former Smith Seed building, which provides 20 apartment units and two ground-floor retail spaces. Through C&J Properties LLC, owners Jason and Caroline Wilson purchased the …

Read More

Helping advisers and their clients create impact

December 4, 2019 | Impact Stories

When individuals or institutions hold deposits at a bank, the money doesn’t have to remain stagnant. “We see the potential for cash deposits to be a catalyst for impact,” says Eli Dalven, Impact Investing Associate at Loring, Wolcott & Coolidge (LWC), a trust office based in the heart of Boston. As a fiduciary, LWC has made a unique commitment to sustainable investing and community development, as one of the first trust offices to offer clients …

Read More

Housing Families First will use credit line to improve its campus to better serve clients

November 25, 2019 | Impact Stories

Borrower : Housing Families First Where : Richmond, VA Loan Amount : $250,000 Project Type : Line of Credit   Opportunity Since 2001, Housing Families First has helped families experiencing homelessness obtain the tools and resources to find – and maintain – stable housing. Building Neighbors, one of three programs, is designed to place vulnerable families – living in any of Richmond’s family shelters or the streets – in safe, affordable, and permanent homes. Hilliard …

Read More

Credit line supports construction of Fort Monroe Visitor and Education Center

November 12, 2019 | Impact Stories

Borrower : Fort Monroe Foundation Where : Fort Monroe, VA Loan Amount : $250,000 Project Type : Line of Credit   Opportunity Designated a National Historic Landmark District and listed on the National Register of Historic Places and the Virginia Landmarks Register, Fort Monroe is evolving from a decommissioned U.S. Army Base to a richly diverse destination site. Fort Monroe is located in Hampton, Va., where the mouth of Chesapeake Bay meets the James River. …

Read More