2021

October 2021

Nate Barber Named Chief Executive Officer at South Carolina Community Loan Fund

October 12, 2021—We are thrilled to share the news that Nate Barber has accepted the Chief Executive Officer position at South Carolina Community Loan Fund and his first day will be Tuesday, October 12th, 2021.

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September 2021

Bringing investment to Central Appalachian coal-impacted communities, creating new jobs and businesses that support sustainable growth.

September 17, 2021 – Appalachian Community Capital today announced receipt of a $1,500,000 technical assistance grant from the Appalachian Regional Commission (ARC) to help bring investment into Central Appalachian communities in five states: Tennessee, North Carolina, Ohio, Virginia, and West Virginia. ACC is the lead partner in Opportunity Appalachia, an initiative designed to provide targeted support for downtown and rural development to build entrepreneurial communities where local business can thrive, creating quality jobs for residents that revitalize local economies.

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Program Manager for Opportunity Appalachia

Open Date: September 1, 2021
Proposal Due Date: October 15, 2021, 5:00pm EST
Selection: November 1, 2021

Contract Period: November 1, 2021 – October 31, 2023

Appalachian Community Capital (ACC) seeks to contract with a qualified Program Manager to oversee the expanded operations of Opportunity Appalachia (OA). The OA program will provide targeted support for downtown and rural development, building entrepreneurial communities where local business can thrive, and creating quality jobs for residents helping to revitalize local economies and address the Covid downturn. The selected contractor will work closely with the program Steering Committee and [CDC]delete Senior Advisor to shape the effort over the course of 24 months beginning in November, 2021 and concluding October, 2023. Opportunity Appalachia is a +$3M program that is anticipated to:

  • Support ~40 development projects
  • Provide $2.25M in direct technical assistance
  • Raise over $400M of new investment for targeted communities

The Program Manager will report to the CEO, ACC. To view the request click here.

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July 2021

Appalachian Community Capital Awarded Wells Fargo “Open for Business“ Grant to Support Minority Small Businesses

Charlotte, N.C. — July 1, 2021—Wells Fargo today announced $3 million in grants to Community Development Financial Institutions (CDFIs) to help underserved small businesses in rural and Southern Appalachian communities manage the economic effects of COVID-19. Wells Fargo has selected Appalachian Community Capital Development (ACC), Carolina Small Business Development Fund (CSBDF) and Natural Capital Investment Fund (NCIFund) to join the Open for Business Fund, a nationwide small business recovery effort. The funding will help increase access to capital with low rate loans for minority-owned businesses in rural communities across Alabama, Georgia, Mississippi, North Carolina and West Virginia.

June 2021

Request for Proposals:
ACC – Opportunity Appalachia seeks responses from Technical Assistance providers.

Open Date: June 22, 2021
Proposal Due Date: as noted in RFP
Selection Date: Ju
ly 5, 2021 or later
Contract Period: Ju
ly 5, 2021 – August 25, 2021

Appalachian Community Capital seeks contractual Technical Assistance (TA) support for one (1) Opportunity Zone project that have been selected by the Opportunity Appalachia program. TA to be provided and project details are described in the link, below. Note: To be an eligible TA provider for this program, respondents must reply to the RFQ noted on the Opportunity Appalachia program page.

Click here for RFP listing requesting TA for one (1) Opportunity Zone project

Appalachian Community Capital Awarded $1.8 Million in COVID-19 Relief Funds

Washington – The U.S. Department of the Treasury today awarded $1.25 billion in COVID-19 relief funds to 863 community development financial institutions (CDFIs). The awards were announced today by Vice President Kamala Harris at the White House with Treasury Secretary Janet L. Yellen. The grants will be made through Treasury’s CDFI Rapid Response Program (CDFI RRP) and will provide necessary capital for CDFIs to respond to economic challenges created by the COVID-19 pandemic, particularly in underserved communities.

Impact and Implementation Report: Appalachian Community Capital/Business Assistance Response Program

In partnership with the Appalachian Regional Commission (ARC), Appalachian Community Capital (ACC) developed the emergency Business Assistance Response (BAR) grant program to support the entrepreneurial ecosystem in Appalachia during the COVID-19 pandemic. Under the program, 31 lending organizations were awarded funds totaling $3.56 million. The funds were intended to support operations for lending organizations and/or direct technical assistance to small businesses and/or nonprofit organizations. This report distills the key findings about and recommendations for the BAR program.

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March 2021

National and Local Community Lenders Announce Multi-Million Dollar Fund to Support Small Business and Nonprofit Recovery Across the South

The Southern Opportunity and Resilience (SOAR) Fund aims to support the recovery of small businesses and nonprofits with access to flexible, affordable capital and free business support services across 15 southern states

BETHESDA, Md., March 3, 2021 (Newswire.com) – A diverse group of community finance organizations today announced the Southern Opportunity and Resilience (SOAR) Fund, which aims to raise $150 million to provide affordable capital and free business support to small businesses and nonprofits in 15 southern and southeastern states to help them navigate and rebuild from the Covid-19 health and economic crisis.

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