Entrepreneurs in low-income and immigrant communities often lack access to capital that could help expand their businesses, thereby easing generational poverty. These business leaders, moreover, tend to rely on informal lenders who offer small, costly, high-interest loans that can lead them into a debt cycle.
West Sacramento, Calif. — In the quarter ending Dec. 31, 2018, Rural Community Assistance Corporation (RCAC) closed 22 loans totaling nearly $8 million to support rural communities in Alaska, California, Idaho, New Mexico and Washington.
The Colorado River, which serves seven states in the American Southwest, will likely have a shortage of water by 2020 and the federal government has ordered the states to plan for drought conditions.
West Sacramento, Calif. — In the quarter ending June 30, 2018, Rural Community Assistance Corporation (RCAC) closed 11 loans totaling nearly $6.5 million to assist rural communities in California, Hawaii and New Mexico.
Most of Arizona, Colorado and New Mexico are experiencing severe drought, and meteorologists are expecting conditions to worsen, according to the National Drought Mitigation Center.