2014 and is fortunate to continue flourishing.
The CDFI banking industry is also growing, as
in underserved communities steadily increases. In
2014, the CDFI Fund certified 47 new CDFI banks, the
most ever in a given year. The industry's sustainability
is reflected by a 33% increase in assets last year to
$34.3 billion as of December 2014 and total net
assets of $3.6 billion, an increase of 41% since
December 2013.*
ers' report lack of access to capital is their most difficult
challenge, limiting their growth and job creation. VCC's
small business support grew from $6.5 million in 2013
to $15.5 million in 2014. With this additional capital,
1,409 jobs were created and retained in Virginia.
17.8%, with over 1.4 million residents in food deserts.
This is alarming since it is substantially higher than
the national rate of 7.3%. VCC's $10 million Virginia
Fresh Food Loan Fund facilitates the growth of healthy
food enterprises in Virginia communities. Due to this
industry's unmet capital needs, we expect to help more
residents gain food access.
grew $12.7 billion last year, up 20% from the previous
year.* Mission investing provides investors a double
bottom return (economic and social). Our Local Impact
Opportunity Notes gained traction, with $1 million
invested. We expect more institutions, foundations, and
individuals who care about "place" will engage in local
impact investing in 2015.
energy efficiency lending. Future VCC markets include
growing social enterprises and small business mezza-
nine financing. A global movement for a new financial
system is underway, providing economic, social, and
environmental benefits. VCC is leading the way in
Virginia.
the next decade. It would not be possible without you,
our partners, and we appreciate all you do.
Let's do more, together.
decade. It would not be possible
without you, our partners..."
Snapshot--An Analysis of 300+ Impact Investing Funds"