CHARLOTTESVILLE, VA – United Bank is proud to partner with and support Community Investment Collaborative (CIC), recently donating $10,000 to the nonprofit to support its dual operations of the CIC and the Central Virginia Small Business Development Center (CVSBDC). These funds will help the two operations continue to grow their educational and training programs and microlending initiatives to serve under-resourced entrepreneurs.
United’s donation will also allow CIC to continue to execute on their mission as a Community Development Financial Institution (CDFI), strengthening the local community and contributing to economic development by fueling the success of underserved entrepreneurs through education, mentoring, financing, and networking. Through their initiatives, CIC provides program participants, which include but are not limited to small business owners, low- to moderate-income individuals, women, minorities, and previously incarcerated individuals, with access to the right financial solutions and a comprehensive support system to build and expand their entrepreneurial enterprises.
“Small and minority-owned businesses are critical components of our local economies, and access to capital and educational resources can often be a challenge. United Bank is pleased to pledge these funds to CIC and the CVSBDC to stimulate business growth and help entrepreneurs throughout Charlottesville and the surrounding areas achieve their dreams,” said Robert Wood, United Bank Regional President. “Working collaboratively with CIC through this donation and our overarching partnership allows us to extend our reach, improving access to capital, mentorship, and financial advisory services that entrepreneurs need to thrive and succeed.”
A demonstrated leader in strategically aligning resources to move the needle on pressing challenges faced by communities where the Bank has a presence, United’s partnership and contribution to CIC is an integral piece of its donation and investment strategy – bolstering economic development and catalyzing positive change across its footprint. Over the last several years, United has been a consistent supporter of CIC, previously donating funds to support its signature education program, the 16-Week Entrepreneur Workshop, and sponsoring the Workshop graduation.
Throughout 2022 and 2023, CIC’s lending grew exponentially. Additionally, the CDFI expanded their 16-Week Entrepreneur Workshop to Orange and Culpeper Counties, bringing the program to a new area of the region and growing its ecosystem of entrepreneurs, volunteers, and community members. Through its work, serving the broader small business community, the CVSBDC has reached new heights over the past few years. In 2022, it was the top-performing SBDC in Virginia, and today, remains focused on offering its integral services – free, personalized counseling, technical expertise, professional training, and resources to entrepreneurs in Charlottesville and the region’s nine counties, curating a specialized experience for each client.
“At CIC and the CVSBDC, we extend our thanks and appreciation to United Bank for its dedicated partnership. These funds and the Bank’s overarching support are important as we move our programs and initiatives forward, serving more entrepreneurs and helping small businesses achieve success,” said Stephen Davis, President, Community Investment Collaborative. “Additionally, it will help us sustain our recent growth and continue scaling our impact in the region and beyond.”
ABOUT UNITED BANK
United Bank is a premier community bank headquartered in Virginia. A subsidiary of United Bankshares, Inc. (NASDAQ: UBSI), United has consolidated assets of nearly $30 billion with close to 250 offices located throughout Virginia, West Virginia, Maryland, North Carolina, South Carolina, Ohio, Pennsylvania and Georgia, as well as Washington, D.C. In 2023, United was named the Most Trustworthy Bank in America by Newsweek, joining the list of the Most Trustworthy Companies in America. The largest bank chartered in the Commonwealth, the Bank is dedicated to growing the relationships it has built since 1839 and offering a competitive suite of banking and lending products, treasury management, wealth management, mortgage services, personal and business credit cards and more. United is also committed to providing excellence in service to the communities throughout its footprint, strategically aligning resources to move the needle on pressing challenges in vital impact areas including financial literacy, children and education, affordable housing, health and economic vitality. Learn more about United Bank.
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