West Sacramento, Calif. — During the quarter ending March 31, 2018, Rural Community Assistance Corporation (RCAC) closed 16 loans totaling nearly $15 million to assist rural communities in California, Hawaii, Nevada and Utah.
West Sacramento, Calif. — The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded Rural Community Assistance Corporation (RCAC) $2.5 million through its Capital Magnet Fund (CMF). RCAC is among 25 CDFIs and 15 nonprofit housing organizations that received a CMF award.
In the quarter ending June 30, 2017, Rural Community Assistance Corporation (RCAC) closed 14 loans totaling nearly $8 million to assist rural communities in Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, Oregon and Washington. Among those that received loans were a nonprofit organization that supports Arizona migrant workers and a rural Nevada food hub.
West Sacramento, Calif. — The PNM Fund, a division of the PNM Resources Foundation has awarded a $10,000 grant to Rural Community Assistance Corporation (RCAC). The New Century of Service Centennial Grant award will support RCAC’s Building Rural Economies (BRE)/Entrepreneurial Leadership Program in New Mexico’s Cochiti Pueblo.
Rural Community Assistance Corporation’s (RCAC) Loan Fund reached a long-awaited milestone this week, announcing $100 million in lending capital. New investments including $5 million from Bank of America and a $10 million Charles Schwab line of credit brought the Loan Fund to its highest capital level since its creation in 1988.