APPALACHIAN COMMUNITY CAPITAL CORPORATIONPub 78
Pub 78
Christiansburg, VA, US
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501(c)
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EIN
46-2815132
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Single Organization Support
Christiansburg, VA, US
•
501(c)
•
EIN
46-2815132
•
•
Single Organization Support
Programs
Program 1 [2020]
IN MAY 2020, ARC AWARDED $3.75 MILLION TO ACC TO DESIGN AND IMPLEMENT AN EMERGENCY BUSINESS RESPONSE ASSISTANCE PROGRAM AND TO DO IT IN THREE WEEKS. THE PROGRAM'S PURPOSE WAS TO STABILIZE APPALACHIAN CDFIS AND REVOLVING LOAN FUNDS SERVING SMALL BUSINESSES IMPACTED BY COVID-19. 31 LENDERS RECEIVED GRANTS TO COVER OPERATIONAL COSTS AND OFFSET INCOME THEY LOST BY SUSPENDING OR REDUCING PAYMENTS DURING THE PANDEMIC. NOT ONLY DID ACC MEET THE THREE-WEEK DEADLINE, BUT THE PROGRAM WON PRAISE FROM ARC CO-CHAIRS TIM THOMAS AND OHIO GOVERNOR MIKE DEWINE. GRANT RECIPIENTS RECEIVED A TOTAL OF $3.56 MILLION IN GRANTS.GeographiesNot indicatedDatesJan 1, 2020 – Dec 31, 2020Source990No causes providedNo populations provided–$4.7MProgram 2 [2020]
ACC HAS A TRACK RECORD OF TURNING ITS INVESTMENTS INTO ON-THE-GROUND RESULTS. FROM 2015 WHEN ACC BEGAN LENDING THROUGH SEPTEMBER 30, 2021, IT USED $25 MILLION IN INVESTMENT CAPITAL TO UNDERWRITE AND DISBURSE $18.5 MILLION IN LOANS TO MEMBERS, WHICH IN TURN MADE 94 SMALL BUSINESS LOANS RANGING FROM $10,000 TO $3 MILLION, 42 OF WHICH WERE TO MINORITY- OR WOMEN-OWNED BUSINESSES. MEMBERS REPORT THAT THE SMALL BUSINESSES THEY FINANCED HAVE HELPED TO CREATE OR RETAIN 2,028 JOBS, 41 PERCENT OF WHICH ARE OCCUPIED BY LOW-INCOME PEOPLE.GeographiesNot indicatedDatesJan 1, 2020 – Dec 31, 2020Source990No causes providedNo populations provided––Program 3 [2020]
ACC ALSO LED OPPORTUNITY APPALACHIA, AN INITIATIVE FUNDED, IN PART, BY THE APPALACHIAN REGIONAL COMMISSION TO HELP LOCAL PARTNERS ACROSS THE REGION OBTAIN ADVISORY SERVICES AND DEVELOP SOPHISTICATED INVESTMENT PROSPECTUS GEARED TOWARD PROSPECTIVE OPPORTUNITY ZONE INVESTORS. 16 PROJECTS RECEIVED TECHNICAL ASSISTANCE, THE STRUCTURING OF PROJECT FINANCING, MARKET RESEARCH, OPERATIONS PLANNING, AND INVESTOR OUTREACH, AND SEVERAL HAVE ALREADY RECEIVED FINANCING.GeographiesNot indicatedDatesJan 1, 2020 – Dec 31, 2020Source990No causes providedNo populations provided––
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