Virginia Community Capital (VCC) will receive a federal grant for $1.45 million to support its operations and bolster lending capital.
VCC is one of 210 institutions in 41 states receiving grants from U.S. Department of Treasury through the Community Development Financial Institutions Fund.
“Funding of this type allows us to pursue a broad range of mission-directed projects and programming to support low-income communities across Virginia,” Jane Henderson, president and CEO of VCC, said in a statement.
VCC, which has offices in Richmond and Christiansburg, offers lending, savings and advisory services. A community development financial institution, VCC’s mission is to offer innovative, flexible financial products designed to support housing and community development ventures, increase jobs, and encourage sustainable communities.
The Community Development Financial Institutions Fund was established in 1994 to promote economic development in the nation’s disadvantaged urban and rural communities.
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