Browsing Category Archives

Based on “Press Release”.

RCAC Loan Fund lends more than $35 million to rural communities

West Sacramento, Calif. — In the quarter ending March 31, 2020, Rural Community Assistance Corporation (RCAC) closed 16 loans which totaled $35,171,466 in six states. The loans supported two water and wastewater connections for rural citizens, 177 housing units, 39,254 feet of community facility space, and created or retained 411 jobs.

RCAC receives $2 million investment from The Schmidt Family Foundation

West Sacramento, Calif. — Rural Community Assistance Corporation (RCAC) received a $2 million investment from The Schmidt Family Foundation to support California borrowers during the ongoing COVID-19 crisis. The funds will be used to advance loans to small businesses under the Paycheck Protection Program (PPP), which will help them continue to pay their employees.

Olamina Fund provides$3 million investment for COVID-19 relief

West Sacramento, Calif. — Rural Community Assistance Corporation (RCAC) received a $3 million investment from the Olamina Fund to be used for Paycheck Protection Program (PPP) loan advances. RCAC will deploy the funds to support small businesses operating in California.