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Since its founding, Locus Bank has generated over $2 billion in impact in local communities. It continues to address inequities through lending, programs, investments, and consulting.
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0
Total Loans Originated
$
0
Average Loan Size
0
Affordable Housing Units Financed (<80% AMI)
0
Jobs Supported
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MW
Megawatt of Clean Energy Capacity Financed
About Locus Bank
Founded in 2006, Locus partners with mission-driven organizations to drive community development in affordable housing, small business, commercial real estate, healthy food systems, and clean energy across Virginia. With a mission to create equitable access to capital, Locus combines national, state, and local investments. Initially established in 2006 with support from the Commonwealth of Virginia and then-Governor Mark R. Warner, Locus now oversees several social enterprises, including Locus Bank, Locus Impact Fund, Locus Capital, and the Community Investment Guarantee Pool (CIGP).
Locus Bank Impact Stories
Revitalizing Richmond
Locus Bank partnered with Atlantic Union Bank to provide acquisition and construction financing for Planet Apartments, creating 67 units of affordable rental housing in the Jackson Ward neighborhood of Richmond. The Better Housing Coalition collaborated with the city to acquire a vacant lot in this historic area, addressing the need for infill development and increasing housing supply.
Named after the African American newspaper founded in 1882 by 13 formerly enslaved men, the Planet Apartments honor Jackson Ward’s rich history and cultural significance as a center of African American culture in Richmond.
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Powering the Future
Locus Bank provided financing to, Flywheel Development, to construct eight DC “Solar for All” commercial solar projects, providing over 1 megawatt of free solar energy for 15 years to 200 low and moderate-income households. This project supports sustainable building projects that focus on resiliency and equity. Flywheel has completed over 49 projects in DC and Maryland.
Additionally, Flywheel is installing solar systems across 11 properties in Northeast DC, generating 1.7MW of solar energy and reducing energy costs for approximately 500 households.
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%
of Loans Were in CDFI Investment Areas
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%
of Loans Were in Low or Moderate Income Areas
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%
of Loans Were in Rural Areas
Asset Classes Served
Commercial,
Commercial Real Estate,
Community Facilities - Childcare,
Community Facilities - Education,
Community Facilities - Healthcare,
Community Facilities - Other,
Low Income Housing Tax Credit,
Multi-Family Housing,
Rural,
Single-Family Housing,
Small Business,
Working Capital