Spotlight on ACC and Our Members!

Hurricane Helene Recovery

Our thoughts and prayers are with everyone impacted by Hurricane Helene across five southeastern Appalachian states. We are heartbroken seeing the devastation wrought by the storm and knowing that the neighbors, friends, and families of ACC members have lost their homes, are living without power and running water, and face a challenging road ahead.

To support very small businesses in Western North Carolina that sustained physical damage from Hurricane Helene, ACC and the Dogwood Health Trust have launched the Western North Carolina Small Business Initiative to provide relief grants of up to $25,000. Grants can be used to cover expenses related to recovery and reopening, including physical damage repair and replacement, environmental cleanup, payment of business-related rents or mortgages, employee retention and hiring, and more. APPLY HERE by November 27.

ACC is continuing to seek disaster relief funding for all Hurricane-impacted states in the region. Additionally, to speed recovery in communities across the hardest-hit states, the Appalachia Funders Network (AFN) has created the Appalachian Helene Response Fund. The Fund will channel resources directly to the areas of greatest need, leveraging the reach and local knowledge of AFN’s 70+ member organizations across the region. Donate to the Fund here: https://bit.ly/appheleneresponsefund

Congratulations to the Recipients of the ACC x Truist Grants!

Thanks to support from the Truist Foundation, ACC has awarded $805,000 in grants to member CDFIs working to strengthen their capacity to serve diverse small businesses. Each of the nine grant recipients will regrant funds to small businesses owned or led by women, persons of color, persons with disabilities, and veterans in their communities. The recipients are Bronze Valley, Bridgeway Capital, Carolina Small Business Development Fund, Kentucky Highlands Investment Corporation, Mountain Association, Mountain BizWorks, Neighborhood Community Development Fund, Neighborhood Concepts, Pathway Lending, People Incorporated, Renaissance Community Loan Fund, Sabre Finance, and Southeast Kentucky Economic Development Corporation. 

Renaissance Community Loan Fund Accepted into CDFI Bond Guarantee Program

On October 11, the CDFI Fund announced an agreement to issue three guarantees worth $498 million under the CDFI Bond Guarantee Program, the largest issuance in the program’s history. The CDFI Bond Guarantee program provides long-term, fixed-rate capital for projects in low-income urban, rural, and Native communities, and the guarantees will be issued on behalf of 10 eligible CDFIs under the FY 2024 program round. Congratulations to ACC member Renaissance Community Loan Fund, which will receive a $20 million bond loan to fund owner-occupied homes in Mississippi and Alabama.

Local Developer Forum

On November 7-8, Opportunity Appalachia brought together experts in development, finance, public policy, and design to talk about how successful projects are created, organized, financed, and delivered. More than just panels and presentations, the Forum was structured to allow attendees time to connect and build local developers’ network of resources, colleagues and others undertaking similar projects, all while learning about the challenges – and solutions – others in the region are finding. Over 70 participants attended. Topics and speakers included:

 Forum Framing

• Jim Heid, FASLA, Founder, Building Small and CRAFT DnA

Why Local Development Matters

• Stephanie Tyree, Executive Director, WV Community Development Hub

Resilience and Reinvestment: Lessons from Helene and other impacts on our region

• Jen Giovannitti, President, Benedum Foundation
• Monica Miller, Senior Advisor, Main Street America
• Chris Sterling, COO, Virginia Community Development Corp (VCDC)

Moderator | Ray Moeller, Economic Redevelopment Specialist, Brownfields Assistance Center WVU

Case Study: Tygart Hotel, Elkins WV

• Dave Clark, Executive Director, Woodlands Development
• Hoy Ferguson, President, Davis Bank and Trust

 Site Tours

• Slack Plaza, Brawley Lane (Susi Salisbury, Vice President & Community Development Charleston Area Alliance)
•  Greater Kanawha Valley Foundation Building (Lewis Payne, Developer, JD Saltworks)
• Kanawha County Public Library Renovation (Dave Pray, PrayWorks)

Executing Successful Partnerships

• Terrell Ellis, Executive Director, Advantage Valley Inc
• Mary Hunt, Community Economic Development professional
• Dwain Neeley, SVP of Community Lending, Fahe (KY)

Moderator | Michelle Foster Ph.D., President and CEO, Greater Kanawha Valley Foundation

Talking the Talk – Tips for Successful Pitches to Investors

• Tighe Bullock, President, Crawford Holdings
• Tony Marks, Vice President, Poca Valley Bank

Moderator | Ray Daffner, Senior Advisor, Opportunity Appalachia

Resilience and Reinvestment: Lessons from Helene and Other Impacts to Our Region (left to right: Jen Giovannitti, President, Benedum Foundation; Monica Miller, Senior Advisor, Main Street America; Chris Sterling, COO, Virginia Community Development Corp; and Moderator Ray Moeller, Economic Redevelopment Specialist, Brownfields Assistance  

EPA Greenhouse Gas Reduction Fund - Clean Communities Investment Accelerator (CCIA)

With its $500 million award from the EPA Greenhouse Gas Reduction Fund, ACC’s Green Bank for Rural America will roll out a two-phase funding approach that puts the needs of communities first. Phase I offers critical financial support for community lenders who serve areas significantly impacted by Hurricane Helene. Phase II opens opportunities for community lenders serving Appalachia and target rural communities nationwide. 

On October 28, the Green Bank opened Phase I applications to Appalachian Community Capital members and invited lenders serving the states hardest hit by Hurricane Helene. We recognize the urgency of getting this funding to the ground and are proud to stand with lenders who understand the unique challenges and opportunities within their regions.

On December 4, Phase II applications will open for community lenders serving rural communities nationwide. This funding will help drive economic diversification, create good-paying jobs, and ensure that rural communities are equipped to lead new energy economies.

Please save the date for our Phase II, nationwide rollout—registration is open now. 

Register HERE for all events.

• December 4: Green Bank for Rural America Launch Event
• December 5: Mastering the Application Process (focus: applicants - CDFIs, non-profit lenders, public lenders)
• December 6: Community Engagement Session w/ WV Community Development Hub (focus: community leaders, local development leaders, CDFIs, non-profit lenders, public lenders)
• December 13: Workforce Development Session w/ Coalfield Development Corporation (focus: project sponsors and developers, business owners, CDFIs, non-profit lenders, public lenders, community lenders)
• TBD: Investor Impact Session (focus: banks, philanthropies, impact investors, other investment partners)

Energy Communities AmeriCorps



This program offers technical support to help communities impacted by previous or pending coal mine and power plant closures. It will engage 150 full-time AmeriCorps VISTA program members in advancing locally driven economic development, workforce readiness, and environmental remediation plans. Public and nonprofit organizations in the following Appalachian energy regions can use this form to indicate their interest in serving as hosts: Eastern Kentucky, Appalachian Ohio, West Virginia, Pennsylvania, and Virginia.

Rural Business Development Grants

The purpose of this program is to promote economic development and job creation projects. Applications will compete in two separate categories, enterprise grants and opportunity grants. Enterprise grants must be used to finance or develop businesses in rural areas, for projects such as business training and technical assistance, land acquisition and development, the capitalization of revolving loan funds, feasibility studies and business plans, leadership and entrepreneur training, and rural business incubators. Opportunity grants, which are limited to up to 10 percent of the total RBDG annual funding, can be used for community economic development, leadership and entrepreneur training, rural business incubators, long-term business strategic planning, and more. Application deadline: February 28, 2025. APPLY HERE.

CDFA National Development Finance Summit

November 13-15, 2024

Baltimore, MD 

Register HERE

Rural LISC Seminar '24

December 3-4, 2024

Little Rock, AR

Register HERE

USDA’s Disaster Guide for Rural Communities helps rural communities identify resources to support disaster resiliency and recovery. READ more.

FEMA recently announced the release of the National Resilience Guidance, which offers a unifying vision of resilience and the principles and steps all communities and organizations can take to increase their resilience in every sector and discipline. READ more.

The government loan program to help small businesses after disasters is out of money. NPR, October 16, 2024. READ more.

Opportunity Finance Network Fully Deploys $25 Million Grant from Wells Fargo to Support Mission-Driven Small Business Lenders Across Rural, Urban, and Native Communities. Opportunity Finance Network, October 16, 2024. READ more.

Celebrating America's Small Businesses with the 2024 CO—100. U.S. Chamber of Commerce, October 8, 2024. READ more.