ACC HIRES CHIEF LENDING AND IMPACT OFFICER

February 2023

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.

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Opportunity Appalachia
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.

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Appalachian Community Capital Receives Equity Investment from Robert Wood Johnson Foundation

January  2023

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.

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Ford Foundation Announces Additional $10M Investment in Appalachian Community Capital 

December 2022

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.

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Appalachian Community Capital Announces the Creation of a Regional Data Analytics Hub at the 2022 Clinton Global Initiative

September 2022

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.

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Appalachian Community Capital Welcomes Four New Members – Institute Capital, PGH Invest, North Alabama Revolving Loan Fund, Renaissance Community Loan Fund

August 2022

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

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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.

June 2, 2022

Christiansburg, Va. (June 2, 2022) – Opportunity Appalachia, a program of Appalachian Community Capital (ACC), has awarded 34 projects with the support to prepare for $177 million in financing for downtown and rural redevelopment projects in Central Appalachia. Proposed projects will develop a range of properties poised to create over 1,700 local permanent jobs, supporting over 230 individual businesses. Planned uses include manufacturing facilities; downtown development; community centers; health, wellness, and childcare centers; food and agricultural facilities; hotels; and retail enterprises. The projects are located in Appalachian communities in North Carolina, Ohio, Tennessee, Virginia, and West Virginia. This brings the total number of projects assisted by Opportunity Appalachia to 51 projects seeking over $420 million in financing.

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April 19, 2022

Christiansburg, Va. (April 19, 2022 ) – Appalachian Community Capital (ACC) has received a $3 million investment from Truist Bank to increase its lending and advisory services to small businesses in underserved counties in the Appalachian Region. This investment is in addition to $1.25 million in grants from Truist Foundation and Truist Charitable Fund, a donor-advised fund at The Winston-Salem Foundation, to strengthen and stabilize ACC member community development financial institutions (CDFIs) serving small businesses impacted by COVID-19 and to support Opportunity Appalachia, an initiative targeting downtown and rural redevelopment projects in Central Appalachia.

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March 15, 2022

Opportunity Appalachia participant (2021) and Appalachian Community Capital member announced closing on +$16 million for the financing of the historic Tygart Hotel. The 6-story, 42,000 sf development in the heart of Elkins’ Historic District is expected to provide an anchor for downtown businesses and have a significant catalytic effect supporting the city’s Downtown Development Strategy in this community of 6,900 persons. This complex transaction involved public, private, and non-profit financing partners and multiple types of tax credit equity, all of which were needed to overcome the capital access challenges faced by so many rural communities.

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Appalachian Community Capital Selected for First Round of Virginia Small Business Resiliency Fund Grants

January 14. 2022

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