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.
July 25, 2018 marks Rural Community Assistance Corporation (RCAC) Loan Fund’s 30th anniversary. RCAC created the Loan Fund in 1988 with an initial $1 million investment from the Ford Foundation. An additional $1 million loan (later converted to a grant) from Bank of America boosted lending capital. The Loan Fund was later certified as a Community Development Financial Institution (CDFI).
This week, RCAC staff will join U.S. Sen. Mazie K. Hirono and the nonprofit Hawaii Agriculture Research Center (HARC) to celebrate completion of 82 renovated or new historical and affordable agricultural worker rental homes in Kunia Village on the Hawaiian island of Oahu.
West Sacramento, Calif. — In the quarter ending March 31, 2017, Rural Community Assistance Corporation (RCAC) closed 20 loans totaling more than $6 million to assist rural communities in Arizona, California, Hawaii and New Mexico.
Are you looking for financing options for affordable housing, environmental infrastructure, community facilities or a small business? Our Loan Fund is a financial resource for rural communities, providing gap financing, acquisition financing and other loans that conventional markets traditionally neglect.