Joint statement from Enterprise Community Partners and Pacific Community Ventures, Co-Sponsors of the Accelerating Impact Investing Initiative (AI3) Yesterday, the U.S. Department of Labor (DOL) issued new guidance on “economically targeted investments” (ETIs) for pension funds. ETIs are a type of impact investment that seeks certain social goals alongside a market-rate financial return. The new guidance rescinds the DOL’s 2008 interpretive bulletin related to ETIs—which is widely considered to have had a chilling effect on ETIs—and reinstates the language of the 1994 interpretative bulletin of a fund manager’s fiduciary duty under the Employment and Retirement Securities Act of 1974 (ERISA). Specifically, the guidance clarifies that fiduciaries of ERISA-governed pension funds “may consider (social and environmental) goals as tie-breakers when choosing between investment alternatives that are otherwise equal with respect to return and risk over the appropriate time horizon.” The guidance also states that “environmental, social, and governance issues may … Read More
Social entrepreneurs, fund managers, nonprofits, foundation staff, and more will converge in San Francisco next week for SOCAP — one of the leading impact investing conferences in the country. With four days of networking, panels, and other events, SOCAP is an excellent opportunity to learn about the intersection of money and social good and to connect with others doing exciting work in the field. With over 100 sessions and a wide variety of other events, it can also be a bit overwhelming at times. As SOCAP veterans, we’ve put together a quick preview to help you make the most of your time at the conference. Here are the sessions we’re most excited for: Healthy Food Financing: What Do We Know?: More and more healthy food financing initiatives are working to increase access to nutritious food in low-income communities. Along with staff from Capital Impact Partners and PolicyLink, PCV InSight’s Tom … Read More
Pacific Community Ventures would like to congratulate all of the CDFIs that have been selected as awardees for the U.S. Treasury’s CDFI Fund. As community partners, funding such as this is essential to increase your investments and impact across our nation’s low-income and economically distressed communities. Congratulations! In celebration of today’s award announcements we’d like to extend our free technical assistance (TA) platform, BusinessAdvising.org, as a compliment to your organization’s current TA. While every CDFI provides some level of technical assistance, we’re offering our comprehensive platform to your small business clients free-of-charge as a way to expand your overall support. An online program, BusinessAdvising.org will expand your clients’ reach to a national network of expert business advisors. Regardless of industry or geographic location, the BusinessAdvising.org platform can provide your clients with individual advising in lending, finance, marketing, operations, sales, IT, HR, leadership, and much more. All of the advice is customized … Read More
Fun news! As part of their great series on local nonprofits doing good work in California, Bay Area For Sale has profiled PCV! Read the article here: Pacific Community Ventures: Empowering Small Businesses to Combat Economic Inequality BayAreaForSale.com is a full service brokerage firm serving all of Bay Area. In additional to real estate listings, they also provide a informative library of articles and guides written by their agents and local professionals. Their material caters specifically to the local community from reference guides on “Weatherproofing your house for the cold New England weather” to “Buying fixer uppers”. They also offer discussion boards and FAQs submission options for users to ask questions to fellow community members or experts.
I am excited to announce that after a comprehensive and methodical executive search process, we have selected Mary Jo Cook as our next President and C.E.O. We are grateful for the wonderful legacy that Beth Sirull leaves behind which includes nearly 4,000 entrepreneurs and small businesses that have created and maintained 25,000 jobs for the residents of lower income communities. I’m confident that under Mary Jo’s leadership this tradition of accomplishment will continue. Mary Jo is passionate about using business as a force for good. She has over twenty-five years of leadership experience in both the for-profit and non-profit sectors. Most recently, Mary Jo was Chief Impact Officer at Fair Trade USA, where she led the organization in engaging farmers, businesses, and consumers to create more sustainable global supply chains and improve the lives of farming communities. Prior to Fair Trade, Mary Jo was a Vice President at the Clorox … Read More
The Great Recession destroyed almost 3 million jobs at small businesses, and devastated America’s working people and low-income communities. Pacific Community Ventures has fueled the recovery since the end of the Recession five years ago. We’ve created 1,297 jobs for working people in underserved communities, and empowered 867 companies across 25 states. The small business owners in our network saw a 12% job growth — vs. the U.S. average of only 2%. At the same time, we know that fostering one small business at a time isn’t enough to combat economic inequality. That’s why we’ve also worked at a national and international level with policymakers and investors to build impact investing markets and drive more private capital toward social good and underserved communities. Head here to check out our impact > Reinventing Prosperity Traditional small business lending from banks has slowed since the end of the recession, leading CDFIs like … Read More
There’s been a lot of public discussion about the state of small business funding, what’s available, and how the times, they are ‘a changing. The U.S. economy is growing, and small businesses are a large part of that. They’ve been the engines of job creation for the past few years as we’ve come out of the Recession. And, more and more people are eschewing chains and multinationals, choosing instead to shop local and shop small. So, things are getting better for businesses in the U.S., but the numbers show — and the small business owners we talk to all tell us — that access to capital is still a challenge. Traditional small business lending from banks tanked during and after the Great recession. And while some of that funding is starting to come back, it’s not at pre-recession levels, and it’s nowhere near what small businesses need. So what does … Read More
Over the past five years, Pacific Community Ventures’ impact has grown steadily and the organization is poised to scale nationally and internationally. PCV is at an exciting inflection point with an effective and proven platform now in place on which the organization can build exponentially. After much personal reflection, I have come to the conclusion that just as PCV is entering a new era, it is time for me to start my own next era as well. I have asked PCV’s Board of Directors to begin an effort to hire my successor. I plan to stay on at PCV until my successor is on-board and will ensure a smooth transition for our dedicated team and a seamless shift for our small business owners, advisors, funders, clients and other stakeholders. Having spent ten years with PCV, nearly six as its leader, I am proud to have helped the organization realize a … Read More
We want to extend a special thank you to all of our advised and borrower companies who have donated their products and services to be raffled off in support of our annual event on Monday, May 4. Thank you for your generosity! If you haven’t already, you can reserve your seat at our luncheon here. We’re looking forward to seeing you. Meet our generous raffle contributors! Eco-Friendly Getaway In Mexico A five-night stay at Playa Viva in Mexico for two adults, plus airfare for two donated by Aero Mexico. Drought-Friendly Planters Four beautifully arranged planters filled with California-native, drought-tolerant plants to decorate your home. Designed and arranged by PCV company Triple BK Landscaping, with planters donated by PCV company Flora Grubb Gardens. Gift Baskets A collection of products, goodies, and services generously donated by some the companies that PCV has advised and funded — and whom your donations … Read More
SF Small Business Week wants to hear from successful, innovative business owners like you who can share insights and stories about what it takes to flourish in today’s marketplace. Their planning to publish interviews and stories from entrepreneurs around the city on their blog, to publicize across social media campaigns, YouTube, and other events during the week. SFSBW is takes place from May 16-22 this year. The week-long series of events is attended by thousands of small business owners and their supporters. Click here to see interviews from previous years. If you’re interested, go ahead and click this link to begin the interview process. You’ll find instructions and more information about the SFSBW 2015 blog there.