In the five years following the start of the “Great Recession” Pacific Community Ventures helped fuel the economic recovery for underinvested communities. Over those five years we invested money and resources in 867 small businesses across 25 states. Those companies created 1,297 jobs, averaging 12% job growth and paying out $250,000,000 in wages.
In 2014, PCV doubled its small business lending from the year prior. Traditional small business lending from banks has slowed since the end of the recession, requiring CDFIs like PCV to step up and fill the lending gap. We also fully launched our unique and innovative BusinessAdvising.org platform and website, and scaled our small business advising program nationally.
At the same time, we know that fostering one small business at a time isn’t enough to combat economic inequality. That’s why we’ve also worked at a national and international level with policymakers and investors to build impact investing markets and drive more private capital toward social good and underserved communities. For example, our InSight team worked with CommCap — a $22 million community loan fund — to develop an impact measurement system that would inform their work financing local businesses, nonprofits, and developments and assist them in sharing their impact with key stakeholders and funders. We also worked with Asia Community Ventures to publish Adopting The London Principles.