Grants to provide access to capital and technical assistance for entrepreneurs in immigrant, indigenous and rural communities hardest hit by the COVID-19 pandemic
West Sacramento, California — The U.S. Economic Development Administration (EDA) granted Rural Community Assistance Corporation (RCAC) $2.5 million to establish a revolving loan fund (RLF).
West Sacramento, California — NorthStar Asset Management invested $495,000 in Rural Community Assistance Corporation (RCAC). NorthStar, a fixed income manager, works with its clients to construct portfolios that integrate their commitment to social change with their financial goals.
West Sacramento, Calif. — In its Fiscal Year 2020, RCAC closed 25 loans which totaled $9,946,078 in six states. These loans supported 3,793 individual water and wastewater connections for rural citizens, 191 housing units; 14,734 feet of community facility space; and created or retained 557 jobs.
West Sacramento, California — The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded Rural Community Assistance Corporation (RCAC) $2.9 million through its Capital Magnet Fund (CMF).