Becoming the Tip of the Spear

December 15, 2025 Thought Leadership

Pravina Raghavan President, Chief Executive Officer
Pravina Raghavan President, Chief Executive Officer

Ms. Raghavan brings decades of experience in public-private partnerships, small business innovation, and economic development. She most recently served as the CDFI Fund Director at the U.S. Department of the Treasury and the Director of the Hollings Manufacturing Extension Partnership (MEP) at the National Institute of Standards and Technology (NIST).

Ms. Raghavan succeeds Interim CEO Clyde Cornett and will build on the organization’s long history of mobilizing capital to build stronger and more prosperous communities in Virginia and across the country. Prior to her leadership positions at the CDFI Fund and NIST, Ms. Raghavan held a senior executive role at Empire State Development, New York State’s Economic Development Agency and Public Benefit Corporation, where she led the Division of Small Business and Technology Development. Ms. Raghavan also previously served as the Deputy Associate Administrator in the U.S. Small Business Administration (SBA) and as the Senior Advisor to the Deputy Secretary in the Department of Commerce. She will bring her extensive expertise in the CDFI industry, monetary policy, small business development and government relations to Locus.

For many of us, 2025 has been a year that has tested our focus and resolve. At times, community development finance leaders across sectors and regions have had more questions than answers, made more pivots than straight paths, and celebrated more small wins than big ones. And while it’s not the first time we have faced headwinds, we’ve needed stronger sails to stay on course.

At Locus, we’ve tackled challenges with a proven approach for nearly 20 years: by leading with innovation, leaning into partnership, and meeting our communities and partners where they are. Whether during economic downturns, pandemics, or social movements, we’ve stepped up alongside our partners and delivered on the impact promised in our mission.

This year has been no exception. In fact, we’ve had the strongest year of lending in our history, financing $137 million in high-impact projects across Virginia and beyond. The Community Investment Guarantee Pool (CIGP), our flagship guarantee fund, is projected to fully deploy $66 million – a milestone since its inception in 2019. When combined with our other credit enhancement programs, we unlocked $30.9 million in community focused capital through guarantees in 2025. In addition, our place-based investment work in Southern Virginia continued to grow this year, bringing $19 million in new investment to the region thanks to strengthened partnerships and progress towards a shared vision.

While we’re proud of our impact, here’s the reality: as we look ahead, our tried-and-true methods are not enough. CDFIs are in uncharted waters. The future of resources and structures – federal funding and CDFI certification – that many of our institutions depend on is uncertain. As we navigate this uncertainty, we need to think outside the box and stay focused to make sure communities continue to get the capital they need. In addition, this environment calls for a thoughtful approach to advocacy that champions our industry while preserving strong, collaborative relationships with government partners.

I believe Locus has an obligation to our organization, our partners, and our industry to rise to this moment. As a financially strong institution with a two-decade track record of impact and a robust network that continues to grow across sectors and regions, we can and should do more. That is why, as we prepare to celebrate our 20-year anniversary in 2026, Locus is embracing a “tip of the spear” mentality. To guide our path forward, we are prioritizing four key areas of action:

Education & Advocacy: Support the CDFI industry by demonstrating the real impact of our work in communities.

Deepened Expertise: Build on our strengths by broadening our risk box and going deeper into the sectors and places where we already have made an impact.

Industry Leadership: Support other CDFIs through thought leadership and new lending.

Product & Service Innovation: Create new tools, such as credit enhancement products, that strengthen the industry by building on existing success and partnering with new investors.

We’ll explore what this approach means to us during our 20th anniversary campaign next year. The campaign will include an in-person tour across Virginia, virtual convenings of our regional and national partners, and a storytelling series highlighting our most impactful projects and collaborations. Throughout the year, we’ll explore our learnings, recognize and recruit partners, and share the vision for our next chapter. You’ll hear more about how you can celebrate and engage with us soon.

In my first three months as the new leader of Locus, it has become clear that we have the team and resources to stand strong for ourselves, our many partners, and the industry as we meet the evolving needs of our communities. It is not just our strategy – it is our responsibility.

My confidence extends to our impressive network of funders, community partners, and policymakers. With your partnership and investment, we will innovate, advocate, and create the deeper impact that our communities depend on.

You are the stone that sharpens the spear. I look forward to working alongside you as we tackle what’s next together.

In partnership,

Pravina Raghavan
President & CEO, Locus

Share on Facebook Share on LinkedIn