Open Date: November 1, 2019
Proposal Due Date: November 15, 2019
Selection Date: November 22, 2019
Contract Period: November 25, 2019 – January 30, 2021
Appalachian Community Capital (ACC) seeks contractual support for a qualified project director to assist Opportunity Appalachia’s Steering Committee, a six-member consortium comprised of regional and national organizations, and local communities, to provide technical assistance to communities in developing sophisticated investment packets geared toward prospective Opportunity Zone (OZ) investors. The selected contractor will work closely with the Steering Committee to shape this effort over the course of 15 months beginning in November 2019 and concluding on January 30, 2021.
WASHINGTON, D.C., October 8, 2019, the Appalachian Regional Commission (ARC) announced a $44.4 million investment package to expand and diversify the economy in Appalachia’s coal-impacted communities through the POWER (Partnerships for Opportunity and Workforce and Economic Revitalization) Initiative. These 54 awards are projected to create or retain over 5,700 jobs, leverage more than $39 million in private investment, create and/or retain 2,940 businesses, and train thousands of workers and students within the broadband, entrepreneurship, substance abuse recovery, tourism and other industry sectors across coal-impacted communities in nine Appalachian states.
Grant to promote small business growth in rural communities
Appalachian Community Capital (ACC) is pleased to announce receipt of a $150,000 grant from the U.S. Department of Agriculture’s Rural Community Development Initiative (RCDI) program. ACC will disburse these monies to build the capacity of seven eligible small business lenders to support small business development and entrepreneurship, job and wealth creation, and economic growth in the low-income rural communities they serve throughout Appalachia.
ACC is seeking a consultant to assist in implementing a development services initiative for ACC members and other CDFIs in the Appalachian
Senior Vice President, Finance and Administration
Working under the policy direction of Appalachian Community Capital (ACC) and under the general supervision of the CEO, the SVP-Finance and Administration is responsible for ensuring ACC’s overall financial planning and budgeting programs are aligned with the corporate strategic plan and the expectations of all funders and stakeholders. This position can be performed remotely.
ACC is pleased to announce a $200,000 investment from the Religious Communities Impact Fund (RCIF) Inc. Led by Sister Corinne Florek, RCIF is a collaborative community investment fund with 27 Catholic women’s religious congregations as members. Its mission is to empower lowincome people through access to affordable capital, whether through housing, small business development, childcare, or helping nonprofits that provided services. Intermediaries like community development loan funds and credit unions are excellent partners in this ministry, and many of them began with investments from the sisters.
ACC is now 19member strong with the addition of two new members: Piedmont Business Capital (formerly Greensboro Community Development Fund) is a CDFI dedicated to supporting underserved communities in the Piedmont Triad area in North Carolina, including rural counties. Appalachian Growth Capital is a new loan fund that partners with local and regional banks to increase the loan amounts to qualified small businesses in Appalachian Ohio.
ACC welcomes its new partners as it continues to support Appalachian small businesses, including minority and womenowned businesses.
Appalachian Community Capital is honored to have received a $550,000 award from the Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund). In its announcement, the CDFI Fund noted that 302 CDFIs had received a total of $202.2 million in awards. These awards, through the fiscal year 2018 round of the Community Development Financial Institutions Program (CDFI Program) and the Native American CDFI Assistance Program (NACA Program), will allow CDFIs to increase lending and investment activity in low-income and economically distressed communities across the nation.
“This CDFI award will enable ACC to provide additional loans to its members. The members, in turn, will use the funds to increase lending to small businesses in Appalachia, including those businesses owned by persons of color and women,” said Donna Gambrell, President & CEO, Appalachian Community Capital. “We thank the CDFI Fund, and we congratulate the other CDFIs who have been recognized.”
Northern Trust Bank has approved a $1 million investment for ACC. The capital will be made available to ACC member institutions to help support small business owners and entrepreneurs in the Appalachian Region. Currently, 17 CDFIs and other mission-based lenders in the region are members.
ACC members Kentucky Highlands Investment Corporation (KHIC) and Virginia Community Capital (VCC) received awards through the U.S. Treasury’s FY 2017 Capital Magnet Fund program. KHIC will use its award to capitalize affordable housing and a revolving loan fund. VCC will use its award to provide predevelopment, construction, and gap financing loans.
Appalachian Community Capital Names Former US Treasury Official as CEO. Donna Gambrell to lead Community Development Financial Institution (CDFI) serving Appalachian Entrepreneurs.
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 196 Community Development Financial Institutions (CDFIs) $185.7 million in grants and loans today.
Appalachian Regional Commission (ARC) Federal Co-Chair Earl F. Gohl announced today the successful first-round investment closing of Appalachian Community Capital (ACC).
Appalachian Regional Commission (ARC) Federal Co-Chair Earl F. Gohl announced today the creation of Appalachian Community Capital (ACC), a new central bank for development lenders that will increase the availability of capital to small businesses in the 13-state Appalachian Region.