West Sacramento, Calif. — Rural Community Assistance Corporation today announced a $300,000 Wells Fargo Foundation grant, which will enable the Community Development Financial Institution (CDFI) to support communities most impacted by COVID-19. RCAC’s response to the crisis began in February and will continue in 2021 and beyond.
West Sacramento, Calif. — Rural Community Assistance Corporation (RCAC) announced today it received a Grow with Google Small Business Fund loan from Opportunity Finance Network (OFN). The community development financial institution (CDFI) will deploy the loan to small businesses in rural communities throughout the West hurt by the economic impact of COVID-19.
West Sacramento, Calif. — During the quarter ending June 30, 2020, RCAC closed 94 loans, which totaled $23,590,943 in 11 states.
West Sacramento, Calif. — Rural Community Assistance Corporation (RCAC) was awarded $20,000 for RCAC’s Re-emerging Loan Fund (RELieF) to assist existing Loan Fund borrowers to restart or enhance continued viability of their business or organization.
The Paycheck Protection Program (PPP) deadline has been extended to August 8. Since March, RCAC’s staff has worked hard to process more than 85 PPP loans for small businesses that have been impacted by COVID-19, and with this extension, we have the opportunity to do more.