VCDC COMMUNITY LENDERS
VCDC Community Lenders was founded by VCDC in 1996 and is a certified Community Development Financial Institution (CDFI) and Community Development Entity (CDE). Community Lenders provides alternative financing and technical assistance to real estate developers engaged in the creation or preservation of affordable housing, community development, and economic development projects throughout our service areas of Virginia and West Virginia.
We provide tailored resources and reliable, flexible lending products that bridge mainstream finance and community development to build stronger, healthier, more equitable communities. Our loans support real estate development aligned with locally recognized needs in low-income communities, and the projects we finance build assets essential for stability, health, and economic mobility in disinvested neighborhoods and areas of high poverty and unemployment. We believe that accessible financial tools are necessary to create opportunities and support sustainable change.
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Affordable Housing Lending Program
Through the Affordable Housing Fund we provide higher-risk loans for predevelopment, construction, bridge, and permanent financing for affordable housing projects primarily serving low-income communities below 80% AMI. These projects include multi-family developments, workforce housing, permanent supportive housing, and homeownership opportunities.
Economic Development Lending Program
The Economic Development Lending Program is designed to provide flexible, affordable commercial loans and technical assistance to mixed-use projects in undercapitalized, high-poverty areas with few accessible employment opportunities. VCDC Community Lenders’ focus on economic development in these areas generates accessible jobs in construction, retail, and hospitality, increases commercial activity and cultural opportunities, and brings new businesses and services to regions in need.
Energy Lending Program
Through the Energy Lending Program, we offer low-interest loans to help organizations in VA and WV invest in sustainable energy upgrades that save money and protect the planet. Eligible projects are new Construction or renovations in disadvantaged communities for: Solar Panels, HVAC systems, Insulation, LED Lighting, Weatherization, Energy Audits, Environmental Studies, and more.
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Our investments in real estate preservation and development through the NMTC program support economic development and community revitalization, create business and job opportunities, and bring community facilities and services to low-income communities. VCDC Community Lenders has received two allocations of NMTCs in the last 10 years, totaling $70 million.
In the last five years, VCDC Community Lenders has deployed $32 million in NMTC to eight projects in Virginia and West Virginia. This financing has helped create or maintain 288 accessible construction jobs and 153 quality permanent jobs.
Our Mission
The mission of VCDC Community Lenders is to provide alternative financing and technical assistance to non-profit and other developers engaged in the creation or preservation of affordable housing, community development, and economic development activities throughout the VCDC service area – currently Virginia and West Virginia.
Our Impact
In the last 5 years, VCDC Community Lenders has:
Loaned over $43 million, including $8.5 million in financing for affordable housing and $35 million for economic development.
Helped create over 962 housing units targeted to residents with income below 60% AMI, including permanent supportive and accessible housing.
To learn more about forming a partnership with VCDF, please contact us.
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