Community Facilities Re-Lending Loan Program
RCAC has $30 million available to make low interest rate/long term loans to nonprofit organizations, public bodies and federally recognized Tribes to provide essential community facilities.
This is a Public/Private partnership between RCAC and U.S. Department of Agriculture, Rural Development to make low interest rate/long term loans available to nonprofit organizations, public bodies and federally recognized Tribes to provide essential community facilities.
- Amount Available — $30 Million
- Maximum Per Loan — $6 Million (exceptions for larger amounts possible)
- Interest Rate — 5% (write down to 4% for first three years of loan)
- Term — Up to 40 years (or useful life of security if less)
- Eligible Areas — Rural communities up to 20,000 population (priority is given to high poverty areas)
- Uses — Funds can be used to purchase, construct, and/or improve essential community facilities, purchase equipment and pay related project expense
Examples of essential community facilities include:
- Health care facilities such as hospitals, medical clinics, dental clinics, nursing homes or assisted living facilities
- Public facilities such as town halls, courthouses, airport hangars or street improvements
- Community support services such as child care centers, community centers, fairgrounds or transitional housing
- Public safety services such as fire departments, police stations, prisons, police vehicles, fire trucks, public works vehicles or equipment
- Educational services such as museums, libraries or private schools
- Utility services such as telemedicine or distance learning equipment
- Local food systems such as community gardens, food pantries, community kitchens, food banks, food hubs or greenhouses
For further information please contact:
Northern CA and Alaska – John Weidemaier (530) 741-2227
WA, OR, WY, ID, MT, Southern CA and Hawaii – Mike Carnes (559) 802-3381
AZ, NM, NV, UT, CO – Darryl English (435) 640-9770
Or, call RCAC’s main office at (916) 447-9832 and ask for Loan Fund.
RCAC Community Facilities Re-Lending Loan Program