Page 4 - People Incorporated Annual Report
P. 4

Spurring Business Growth
PEOPLE: Matthew and Amy Ratliff
PROJECT: Fox Tail Orchards Cabins and Campgrounds, LLC, Tazewell County,
Virginia
PROGRAM: Ninth District Development Financing Loan Fund for tourism-related
projects in Virginia’s Ninth District
PROCESS: Funds were used for improvements on the property and to build the first
People Incorporated’s revolving loan funds, including Community Development Block Grants and Ninth District Development Financing Loan Funds, provide a foundation for sustainable business growth in underserved or at-risk communities.
People Incorporated is also a steward and manager of Community Development Block Grants (CDBG), provided by the U.S. Department of Housing and Urban Development and the Virginia Department of Housing and Community Development. CDBG funding loaned out
by People Incorporated (about $1.28 million for microenterprise) has consisted of seven projects over the past 18 years. The most
recent CDBG microenterprise project was in
Warren and Clarke Counties, where $261,060
were lent and 43 jobs were created. The
current CDBG project within Fauquier,
Culpeper, and Rappahannock counties
in Northern Virginia provided $45,000 in
CDBG loans to date, leveraged
with $191,546 of the agency’s
funds to assist small businesses.
CDBG Investments in Virginia, 2016
74% OF JOBS CREATED
FILLED BY LOW-INCOME INDIVIDUALS AT TIME OF HIRE
$306THOUSAND
IN LOAN CAPITAL
TO TARGET COMMUNITIES
FREDERICK CLARKE
WARREN
FAUQUIER
PAGE
CULPEPER
RAPPAHANNOCK
SHENANDOAH
cabin. Campgrounds are being devel- oped and more cabins are planned. “We would still be working on the foundation without People Incorporated,” notes
PRINCE WILLIAM
BUCHANAN DICKENSON
TAZEWELL SMYTH
4
People Incorporated Annual Report 2016
Matthew.
WISE
SCOTT
RUSSELL
WASHINGTON
GRAYSON
CARROLL
PHOTO COURTESY OF FOX TAIL ORCHARDS
PHOTO: KEN KRAKOW




















































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