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VCDF receives $375,000 grant from Truist to expand its lending capital

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RICHMOND, Va. - eTradeWire -- VCDC's lending affiliate VCDF today announced it received a $375,000 grant from Truist Financial Corporation through its Truist Charitable Fund, a donor-advised fund at the Winston-Salem Foundation, to expand its lending capital and increase its capacity to serve partners and low-income communities, and to further the shared goals of VCDF and Truist to develop more safe and affordable housing in Virginia.

"VCDF is grateful for this opportunity to establish a formal relationship with Truist to produce more high-quality, safe and affordable housing in Virginia and expand our services into new markets," said VCDF Manager Laura Dupuy.

"Helping ensure all Virginians have access to affordable housing is central to Truist's purpose to inspire and build better lives and communities," said Thomas Ransom, Virginia regional president for Truist. "With this grant, VCDF will provide greater stability to individuals and families – helping them improve their financial footing and strengthening communities across the state."

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About VCDF
VCDF formed in 1996 to provide flexible, responsible lending for the acquisition, rehabilitation, and preservation of affordable rental housing and community development projects in Virginia and West Virginia. As a certified community development financial institution (CDFI), VCDF's approach to lending is necessarily innovative—VCDF is a mission-driven organization taking a market-based approach to supporting historically underserved communities through lending that is considered high-risk by the conventional finance industry. VCDF offers tailored resources and programs that make use of federal dollars alongside private sector capital and works to bridge mainstream finance and community development finance to build stronger, healthier, more equitable communities.

About Truist Charitable Fund
The Truist Charitable Fund is a donor-advised fund created by Truist and administered by The Winston-Salem Foundation.

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About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Formed by the historic merger of equals of BB&T and SunTrust, Truist has leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending and wealth management. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank. Truist Bank, Member FDIC. Learn more at Truist.com (http://www.truist.com/).

Truist Contact:
Audria Belton, Truist - media@truist.com

VCDC Contact - Laura Dupuy

Source: VCDF
Filed Under: Real Estate

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