By partnering with WVJIT , entities can serve their industries through financial support .
“ The opportunity to partner with WVJIT and other loan funds through WVCAP opens the door for loan structuring options to better serve the health care provider market which The Center for Rural Health Development , Inc . seeks to serve ,” says John Reger , loan fund consultant of The Center for Rural Health Development , Inc .
“ Located well off the beaten path , Coe ’ s Country Store serves an area where residents must travel a significant distance to access daily necessities . Nicole Coe , a mother of 10 , expects her store to serve her local community and be a valuable amenity to tourists traveling through to events , festivals or the West Virginia Game Farm down the road . Together with Susie Higgins from the Small Business Development Center , First Community Bank and Coe ’ s investment , Woodlands was able to complete a funding package with a loan supported by WVCAP .”
- Karen Jacobson , Loan Fund Manager of Woodlands Community Lenders
WVCAP Success Stories
“ The WVCAP Subordinated Debt Loan Program allowed Regional Economic Development Partnership ( RED ) and Community Bank to assist the Wheeling Convention and Visitors Bureau , Inc . with loans for the acquisition of the former Wheeling Inn building and site in Wheeling , WV .”
- Brian Komorowski , Vice President and CFO of Regional Economic
Development Partnership
“ The closing of a $ 1.5 million investment for bringing Endolumik ’ s patented near-infrared surgical device known as the Gastric Calibration Tube to the commercial market was made possible by WVCAP and WVJIT . This is just one example of the growing startup ecosystem in West Virginia . WVCAP exists to invest in entrepreneurs , fund innovation and development , grow companies and , ultimately , create jobs .”
- Andrew Zulauf , Executive Director of West Virginia Jobs Investment Trust
“ The WVCAP Collateral Support Loan Program funding assisted our organization as a Community Development Financial Institution and WVCAPapproved program participant to partner with Citizens Bank of Weston to provide the needed capital to assist Stone Tower Joe to expand its coffee shop business to Morgantown .”
- Kevin O ’ Connor , Senior Vice President of Partner Community Capital , Inc .
By The Numbers
Total Transactions : 24 Approved Transactions : $ 10.4 Million Private Match : $ 20.8 Million Jobs Created : 198 Jobs Retained : 214
Counties Represented : 15