My name is Grace Clarke, and I am a rising fourth year majoring in economics and minoring in social entrepreneurship. Thanks to the Tadler fellowship, I was able to intern remotely with Fahe, a Community Development Financial Institute (CDFI). I was inspired to intern in the impact investing field this summer after taking the immersive J-term course, Impact Investing in Action, where I, along with other UVA students, learned about impact investing in Appalachia through a 10-day road trip. Through the Tadler fellowship, I was matched with Fahe, located in Berea, KY. Due to the circumstances created by coronavirus, I was unable to intern in person, but I still gained very valuable experience.

Fahe is a CDFI working to alleviate persistent poverty throughout Appalachia, focusing on Kentucky, West Virginia, Tennessee, Virginia, Alabama, and Maryland. They have several lines of business including mortgage lending, community lending services, membership, and loan servicing that are utilized by their members, partners, and families. Fahe is celebrating their 40th anniversary this year, and in their 20 years of operation, they have generated $1.5 billion in finance and served over 616,694 people. Even though I never met any of my colleagues in person, I was still able to see their passion and dedication to the people of Appalachia.

This summer I worked on multiple projects as the Investments Intern. These projects gave me valuable insight into the field of impact investing and CDFIs more specifically. I assisted in creating the application for a large grant called the Capital Magnets Fund. I was tasked with collaborating with members to show a strong pipeline of projects where the grant money could be deployed to create greater value. On another project, I worked with other interns to create a large database of non-profit members’ finances for the past three years. I also created a database of each member’s debts to look for refinancing opportunities. This would allow Appalachian non-profits to receive better interest rates and terms on their projects. In addition, I created a survey for members that will give Fahe insight into the demographics of those who benefit from their investments. This was important, as Fahe is dedicated to positively impacting people of color in the Appalachian region.

Interning remotely at a company that I had never physically stepped foot in was surprisingly not too challenging. I had regular video check-ins with my supervisor and had many calls with other colleagues at Fahe to learn more about what they do. They welcomed questions, and although they gave me a great deal of independence in the projects I worked on, my supervisor and other colleagues were always willing to guide me in the right direction if I needed help. I certainly benefited from the independence, as it pushed me to learn more about impact investing through experience.

I am very grateful to have been given this opportunity to intern at Fahe. After an inspiring summer, my interest in impact investing has only increased. This summer gave me more guidance regarding the career path I want to follow. I believe if impact investing continues to grow, it can do what charity work has so far failed to achieve: alleviate persistent poverty throughout the world and create a better environment and world for future generations.