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Capital One® helps improve the communities in which we live and work by extending loans to and making investments in community development entities. We finance the creation and rehabilitation of safe, affordable housing for low-income and special-needs populations. We also seek to develop, enhance and strengthen low-income neighborhoods by financing projects that support community stabilization and revitalization efforts. In addition, we have a very strong commitment to financing small businesses.
Providing safe, secure, and affordable housing is the foundation for building
strong communities. During the period from January 1, 2004 to August 31, 2005,
Capital One made new loans and investment commitments totaling $79 million to
finance affordable housing. Examples include:
- 446 low-income housing units across Virginia.
- The purchase and rehabilitation of run-down properties for homeless families and individuals.
- The purchase and renovation of single-family homes in Fairfax County for low-income tenants.
- Development of two Richmond properties for 171 low-income families and seniors.
- Origination of a loan to develop affordable housing in the Washington D.C. metro area.
- Funding of a loan program to make $40 million available to finance the development or
rehabilitation of affordable housing in Virginia.
Capital One wants to help preserve and strengthen communities by supporting small business development and job creation.
- Capital One is the largest issuer of small business Visa credit cards and is the
third most active Small Business Administration (SBA) lender in the U.S.
- Our work has led to multiple recognitions by the SBA in New Jersey, California, and Virginia.
- Our small business line of products are designed to meet the needs of small-business owners and, include: special business credit cards, business loans, lines of credit, money market accounts, and CDs.
- Capital One invests in Small Business Investment companies and other entities that finance
small business enterprises.
Capital One also invests in Small Business Investment Companies and similar entities that finance small businesses.
Capital One seeks out and finances other activities that serve to stabilize or revitalize lower-income neighborhoods in our local communities. For example, Capital One:
- Made possible the redevelopment of an abandoned historic building into a residential property in
a low-income, designated revitalization area in Richmond.
- Helped finance the construction of a community center that provides a wide variety of services to
residents of a low-income, designated redevelopment area in Northern Virginia.
- Financed the creation or rehabilitation of more than 800 units of affordable housing for low- and
moderate-income households.
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