News & Press Releases
Opportunity Appalachia Investor Convening to Showcase High Impact Projects Anticipated to Create Thousands of Jobs
Opportunity Appalachia, a project of Appalachian Community Capital, is hosting a virtual investor convening on May 31 – June 1, 2023.The convening will feature 33 Opportunity Appalachia projects looking to develop relationships with investment partners. The 2023 Project Portfolio is seeking $252 million in financing and is anticipated to create 3,000 jobs – including jobs for individuals in addiction recovery, the long-term unemployed (such as former coal industry workers), minorities, and women.
Appalachian Community Capital has received a grant of over $600,000 as part of the CDFI Fund’s CDFI Equitable Recovery Program.
Under this program, over $1.73 billion in grants were awarded to 603 CDFIs across the country through CDFI ER, which represent the largest CDFI grant program in history. These grants are intended to spur economic recovery for areas most severely impacted by the COVID-19 pandemic.
Virginia CDFI Coalition Celebrates Win For Virginia
On March 28, 2023, Virginia Governor Glenn Youngkin signed into law Senate Bill 1320 (SB 1320) and House Bill 1411 (HB 1411), codifying and recapitalizing the Virginia Community Development Financial Institution Fund (VA CDFI Fund). Both bills overwhelmingly passed the Virginia General Assembly in February 2023.
Appalachian Community Capital Receives $510,000 Award from Treasury’s CDFI Fund to Support Small Business Lending across Appalachia
Christiansburg, VA – Appalachian Community Capital (ACC) has received a
$510,000 grant from the U.S. Treasury Department’s Community Development Financial Institutions Fund’s (CDFI) Program to increase lending for small businesses in historically underserved areas in the 13-state Appalachian region.
ACC HIRES CHIEF LENDING AND IMPACT OFFICER
ACC is pleased to announce that Julia J. Parker has joined Appalachian Community Capital as its Chief Lending and Impact Officer (CLIO).
The CLIO is a member of the executive team and has overall responsibility for ACC’s lending program and continued innovation. Primary responsibilities include: meeting annual lending goals; developing strategies to meet identified investment gaps in ACC’s service area; designing and implementing new and updated financial products and services that are responsive to the needs of clients; and maintaining loan and grant policies and systems.
This is a remote position serving the Appalachian Region, which includes the entire state of West Virginia and portions of Alabama, Georgia, Kentucky, Maryland, Mississippi, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, and Virginia.
Ms. Parker has extensive knowledge of and experience in economic development, small business lending, impact investing, and supporting underserved and diverse communities and populations.
Bringing jobs, business support, and investment to Central Appalachian communities
Opportunity Appalachia today announced selection of 8 projects to participate in a program to bring jobs, business support, and investment to Central Appalachia. The selected projects propose to create over 310 jobs and attract $27 million in financing to develop and expand childcare centers, outdoor recreation, food business incubator and support facilities, regional airport facilities, and hotels in downtown and rural areas across East Tennessee and Southwest Virginia.
Appalachian Community Capital Receives Equity Investment from Robert Wood Johnson Foundation
The Robert Wood Johnson Foundation has awarded Appalachian Community Capital $400,000 in equity capital to allow the organization to strengthen its capital structure, leverage additional debt capital, and as a result, increase lending and investing in Appalachian communities that have been marginalized.
Ford Foundation Announces Additional $10M Investment in Appalachian Community Capital
NEW YORK, Dec. 7, 2022- The Ford Foundation announced today an additional $10 million investment in Appalachian Community Capital, a central bank for community development lenders that increases the availability of capital to small businesses to spur job creation and economic growth in the 13-state Appalachian region.
Following an initial investment in 2015, the Ford Foundation is increasing its support to further the economic enrichment of local communities in the rural Midwest and South, including coal-dependent areas. In these under-invested regions, the capital needed to foster a thriving economy and higher-quality jobs is often difficult to access, contributing to limited economic mobility. According to the Appalachian Regional Commission (ARC), a key ACC funder, the region’s median household income is 82% of the national average.
Appalachian Community Capital Announces the Creation of a Regional Data Analytics Hub at the 2022 Clinton Global Initiative
Christiansburg, VA. (September 19, 2022) – Appalachian Community Capital (ACC) is pleased to announce its participation in the Clinton Global Initiative (CGI) 2022 Meeting, a platform for CGI members to convene, connect, and coordinate actions that address global challenges. During today’s meeting, ACC committed to launch a regional inclusive Data Analytics Hub, a key component of the organization’s new strategic focus on Technological Transformation and Knowledge Sharing. The hub will provide insights into underserved small businesses across the region, which will help ACC and its members better understand the dynamics affecting these businesses and tailor their outreach, products, and services to be more effective and aligned to the businesses’ needs and circumstances. ACC members are community development financial institutions (CDFIs) and other mission-focused lenders located in and serving small businesses in Appalachian by providing capital, business advisory services, and other types of support.
Appalachian Community Capital Welcomes Four New Members – Institute Capital, PGH Invest, North Alabama Revolving Loan Fund, Renaissance Community Loan Fund
Appalachian Community Capital (ACC) is seeking an energetic, entrepreneurial, goal-oriented self-starter to serve as Chief Lending and Impact Officer to support the organization at a time of unprecedented growth. As a member of the executive team, this person should also be able to prioritize multiple demands, lead a high performing team of contractors, and have overall responsibility for ACC’s lending program and impact across Appalachia
Request for Proposals:
ACC – Opportunity Appalachia seeks responses from Technical Assistance providers.
Open Date: June 10, 2022
Proposal Due Date: as noted in RFP
Selection Date: July 15, 2022 or later
Contract Period: July 15, 2022 – February 28, 2023 (or later)
Appalachian Community Capital seeks contractual Technical Assistance (TA) support for 34 Opportunity Appalachia projects that have been selected by the Opportunity Appalachia program. TA to be provided includes architectural and engineering, market research, development of investment prospectus, preparation of pro forma financial projections, structuring of project financing, operations planning, investor outreach and other services. Details on individual project TA requests are provided on 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 listing requesting TA for 34 Opportunity Appalachia projects.