Welcome to our 2022 Impact Report! We are filled with immense pride as we share our impact throughout the year and celebrate PCV’s 25th Anniversary in 2023. This report holds a special place as it reflects the evolution of our brand under our new strategy launched last year, to more authentically embody the voices and lived experiences of the communities we serve.
In our role as one of the U.S.’s first impact investing organizations, we remain steadfast in our commitment to helping small businesses, particularly those led by entrepreneurs of color. Today, these entrepreneurs continue to face an uphill battle in accessing affordable capital due to an uneven pandemic recovery, escalating inflation, and weaknesses in our banking system. Yet, we stand firm, unwavering in our dedication to address these issues reparatively and restoratively.
In 2022, we’ve made strides, but our impact extends far beyond these numbers. We invested capital and advice in a record 2,460 small businesses! We deployed $10M in restorative capital loans, with 92% reaching entrepreneurs of color and women and 98% of capital to low-moderate income communities. What differentiates us is that 86% of our portfolio was disbursed in historically redlined communities across California, emphasizing our role as a restorative force in our society – meeting the Civil Rights mission our movement was born for.
A total of 222 living wage jobs were created as a result of the PCV Loan Program, according to survey respondents. These jobs not only support the financial well-being of individuals but also foster wealth-building in the communities we serve.
As we look back on our accomplishments, we’re also looking ahead, dedicated to continuing our efforts to close the racial wealth gap and promote equitable economic growth. Your support propels us forward. Join us in celebrating our 25th anniversary, and join us in continuing our journey toward greater impact.
CEO & President, Pacific Community Ventures