About Investment Connection

Projects deemed potentially eligible under the Community Reinvestment Act (CRA) are those that serve low- to moderate-income individuals (at or below 80 percent of their area's median income), small businesses, or distressed or underserved communities. Typical issues addressed in proposals include, but are not limited to affordable housing; workforce and economic development; asset building and financial access; community development finance; broadband; community services, and facilities and disaster relief.

These projects are housed in an online database that is accessible to bankers, CDFIs, foundations and other funding entities seeking to invest in their region. A select number of eligible proposals that are the first to apply during the application period will be invited to “pitch” their ideas to multiple potential funders.

The program is a win-win for both applicants and funders (CDFIs can serve as both), in that it allows these entities to establish relationships and develop innovative collaborations through which they can meet pressing community needs. The Richmond Fed launched the program in late 2019 and it is currently active in Virginia, Maryland, North Carolina, West Virginia and Greater Washington, D.C. Expansion into South Carolina will be explored in 2021.