LOANS

VCDF offers several loan products which are distinguished by size, allowable use of loan proceeds, swift review and approval process, flexible terms and underwriting criteria. As a mission-driven organization, VCDF gives priority to affordable housing opportunities and to commercial development that results in economic development in distressed communities. 

  • Project Related Advances: These are 0-interest loans for project feasibility and/or reasonable expenses to prepare for LIHTC application.

    Predevelopment and Carry-forward Loans: These are low-interest, high-risk loans to assist developers reach equity closing or initiate construction.

  • These loans assist with the purchase of real estate, with or without improvements, for the purpose of developing commercial or residential units as well as community facilities.

  • These loans assist with construction financing for residential or commercial use. Priority is given to affordable housing development and commercial projects that contribute to downtown revitalization activities.

OUR IMPACT

In the last 5 years VCDF has: 

Loaned over $43 million, including $8.5 million in financing for affordable housing and $35 million for economic development. 

Click here to learn more about VCDF.

To learn more about partnering with us to make your community vision happen, please contact us.

News & Updates

Featured
VCDF awarded $800,000 by CDFI Fund in Financial Assistance to support economic development
Lending
VCDF awarded $800,000 by CDFI Fund in Financial Assistance to support economic development
Lending

The U.S. Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has awarded the Virginia Community Development Fund (VCDF) $800,000 in Financial Assistance (FA) awards. VCDF’s award will support lending to spark economic development in distressed and underserved communities in VA and WV.

Read More →
Lending
VCDF awarded $4 million by U.S. Treasury in Capital Magnet Funds to support affordable housing
Lending
VCDF awarded $4 million by U.S. Treasury in Capital Magnet Funds to support affordable housing
Lending

The federal government has awarded VCDC’s Virginia Community Development Fund (VCDF) $4 million from the Treasury Department’s Capital Magnet Fund (CMF). The grant will finance high quality affordable rental housing in communities across VA and WV where developers are hard-pressed to get financing from traditional sources.

Read More →
Lending
Virginia Community Development Fund receives 2023 Community Impact grant from the Community Foundation for a greater Richmond to support its Technical Assistance Program
Virginia Community Development Fund receives 2023 Community Impact grant from the Community Foundation for a greater Richmond to support its Technical Assistance Program

VCDC’s lending affiliate, Virginia Community Development Fund (VCDF) announced this week that it received a $25,000 grant from the Community Foundation for a Greater Richmond to expand its Technical Assistance (TA) Program. The TA Program offers a range of technical support, consultant services, educational resources, and professional development opportunities to meet the unique individual needs of VCDF partners, empowering them to strengthen their organizations, enhance their understanding of development processes, and build capacity to play a leading role in developing sustainable, vibrant communities.

Read More →
An artful investment in Richmond’s beloved art nonprofit, Studio Two Three
Lending, Impact Stories
An artful investment in Richmond’s beloved art nonprofit, Studio Two Three
Lending, Impact Stories

Studio Two Three is a forward-thinking nonprofit art studio in Richmond, VA with a mission to empower artists to create civic change and community engagement through art. After 13 years of growth, Studio Two Three decided to explore the opportunity of purchasing a permanent home for their high-performing studio. Our lending affiliate, VCDF, helped Studio Two Three receive an $800,000 loan so the organization can make an impact in their forever home.

Read More →
Lending, Impact Stories