New Mexico state lawmakers are renewing efforts to stop the practice of siphoning away federal funding from rural school districts. Traditionally, districts fund their public schools in large part from property taxes. But in rural districts, property taxes can be very low. Tribal lands, national forest and military bases are exempt from property taxes altogether.
Construction began this month on Major Market in New Mexico. Using a $1 million Kellogg Foundation grant and PRI (program related investment) RCAC helped to fund the organic market and deli in New Mexico. The market is owned and operated by Darrell Tsabetsaye and his family, all Zuni Tribe members.
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.
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.