August 17, 2012

Manchin, Rockefeller Announce Funds for Natural Capital Investment Fund, Inc. to Support West Virginia Entrepreneurs

WASHINGTON, D.C. — Senators Jay Rockefeller, a senior member of the Senate Committee on Finance, and Joe Manchin today announced $953,806 in federal funding for Shepherdstown’s Natural Capital Investment Fund, Inc (NCIF) from the Department of Treasury’s Community Development Financial Institutions Fund (CDFI).

“Having access to knowledgeable and certified financial assistance groups is vital for our communities,” said Rockefeller.  “NCIF has helped many West Virginia entrepreneurs build or expand businesses that strengthen our tourism, agriculture, and sustainable forestry industries.  This funding will help NCIF continue providing support and financial services to businesses in rural Appalachia that are typically overlooked by traditional lenders.”

"As we continue to maneuver through these tough economic times, it is so important for the public and private sectors to work together to promote economic growth by creating opportunities for business success and job creation," Manchin said. "This funding will help support our rural communities compete and thrive through financial assistance."

The Department of Treasury’s Community Development Financial Institutions Fund (CDFI) invests in for-profit and non-profit community based lending organizations that serve rural and urban low-income people and communities that lack adequate access to financial products and services.  CDFI grants are awarded annually through a competitive application process.