People Incorporated links entrepreneurs, individuals, and families to financial services, affordable housing and transportation to develop a more prosperous, sustainable and viable economy throughout Virginia.
Business Development and Loan Services
People Incorporated offers financial assistance microenterprise loans, business training and technical services to help start or expand businesses, which in turn, creates jobs.
Consumer Loans
Loans with an affordable interest rate of Prime + 5% are offered to individuals for up to 36 months to provide assistance with many household expenses, car purchases and bill consolidation.
Individual Development Accounts (IDAs)
IDAs facilitate a pattern of regular savings for modest income working families using matching funds. Clients build assets and long-term economic security.
New Markets Tax Credits
The New Markets Tax Credits program attracts private investment to community development projects in low-income communities by offering tax credits to investors in return for qualified equity investments. People Incorporated, a qualified Community Development Entity, uses the investment funds to make loans to high impact businesses that create jobs and build opportunities and economic growth in low-income communities.
Ninth District Development Financing
This revolving loan fund assists businesses and nonprofits in the ninth congressional district, particularly with projects that enhance tourism and expand economic development.
www.nddf.org
Cars for Work
Low-income individuals who meet eligibility requirements have the opportunity to secure car loans. Mobility plays a vital role in securing and retaining employment.
Watch our 30 second Community and Economic Development Public Service Announcement.
Fast Facts
- 794 participants trained in Financial Literacy, Microenterprise, or received one-on-one technical assistance through People Incorporated Financial Services.
- 15 clients were enrolled in the Individual Development Accounts (IDA) program, $22,073 total dollars saved by IDA clients; $37,398 total dollars matched to savings.
- 2 clients reached their savings goal and purchased their asset.
- $4.1 million total dollars lent out by Ninth District Development Financing since inception.
- 47 new multi-funded loans, $27,874 average loan size, total loan dollars loaned $1,310,077.48.
- 32 loans repaid in full to People Incorporated Financial Services. 41 including consumer loans.
- 6 car loans provided.
- 117 new jobs created as a result of community economic development program activities.
- 18 business expansions due to assistance provided by People Incorporated Financial Services.
- 30 business start-ups were assisted by People Incorporated Financial Services.
