Hugo, an immigrant with little work experience, got a job as a prep chef with Pacific Catch, a PCV-company, in 2003. By 2009, with on-the-job training, Hugo became the Chef at the restaurant’s Marina location. He now supports a family of four. There are 198 ‘Hugo stories’ because of the capital and advice that PCV provides to small businesses. PCV strengthens communities one job at a time.
Annual job creation at small businesses is 15%; job loss at these businesses is 13%, largely due to business failure, leaving net new job creation at just 2% state-wide. PCV provides the critical tools that these businesses need to thrive, not fail, and boosts new job creation. PCV companies consistently outpace the state and nation in job growth. This cost-effective model works.
As we work directly with small businesses, we are also using our research, publications, and conferences to educate investors, policymakers, and business leaders on how to harness private capital for financial returns and verifiable social benefits. Favorable policies drive more capital and resources to entrepreneurs who build businesses and generate quality jobs. PCV creates prosperity.
PCV takes a four-fold approach to creating economic opportunity in lower-income communities by providing direct engagement to help entrepreneurs on-the-ground, while also providing in-depth research and analysis to influence public policy. The ecosystem of tactical expertise and strategic insight that PCV has created catalyzes economic prosperity in lower-income communities.
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PCV InSight conducts and publishes research on key issues in social impact investing. We track national and international trends, incorporating data from our own local experience, perform custom research, and participate as an industry thought leader in gatherings of public and private policymakers.
Through our Small Business Advising Integrated Lending Fund (SAIL Fund) and our equity investment funds, we make growth capital available to entrepreneurs in lower-income communities.
Discount Glass and Mirror in San Diego was hit hard by the recession of 2008, and after a precipitous decline in orders and revenue, the company faced possible bankruptcy. PCV advisors helped owner Anthony Bortz tighten his cost structure to reflect the slowdown, shift his marketing strategy to target high-opportunity market segments, and position the company for renewed growth. Today Discount Glass and Mirror has regained positive cash flow and is expanding its customer base again. The company is hiring new employees to build on its momentum going forward.
After three years of successful operation, San Francisco-based design firm Interior Design Fair reached a key inflection point, needing working capital to expand operations. Owner Kassin Laverty worked with a PCV advisor to chart a growth strategy and applied for a loan through the SAIL program, planning to hire additional design consultants while redoubling her online marketing efforts. PVC approved the $100,000 SAIL loan and today Interior Design Fair has begun executing its hiring and expansion plan with a commitment to creating quality jobs.
PCV has always carefully tracked and quantified the impact of its engagement with businesses in lower-income communities. For the last decade we have applied that expertise to help prominent investment and philanthropic institutions examine the social and economic impact of their own investment programs. PCV has worked with the California Public Employees’ Retirement System (CalPERS) since 2005, and for the last three years, has assessed CalPERS’ $19+ billion of investments in the state of California, providing annual reports that document the breadth of CalPERS’ investment in California and the resulting benefits to the state. PCV’s impact evaluation services allow clients like CalPERS to fully understand the impact of their investments and make better informed investment decisions.
For several years PCV InSight has been helping policymakers advance the global practice of investing for intentional social and environmental benefit. The Impact Investing Policy Collaborative (IIPC), one of the initiatives borne of this work, is an international network of over 200 researchers and public officials, funded by the Rockefeller Foundation and launched in conjunction with the Initiative for Responsible Investment at Harvard University. The IIPC offers a broad array of resources and funds several ongoing research projects as part of its mission to catalyze broader adoption of proven impact investing policy strategies.
PCV uses a variety of metrics to gauge the success of its programs to bring sustainable economic benefit to lower-income communities. Our core benchmarks include job creation, wages paid to residents of lower-income communities, benefits provided, and number and percentage of families affected. In 2012 we are pleased to report that PCV generated strong performance in these key indicators.
In 2012, every $4,000 invested in PCV’s programs generated a new job in a lower-income community, paying an average wage of $38,000. Your support makes this kind of positive economic progress possible. Please consider contributing to PCV to help us reinvent prosperity.