In a recent virtual event, Rural Community Assistance Corporation (RCAC) partnered with First SouthWest Community Fund (FSWCF) to help inform San Luis Valley small business owners of non-traditional approaches to secure funding for their small businesses.
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Based on “Small Business”.
New community investments spur growth in CDFIs
A new report from the Federal Reserve Bank of New York highlights several major private sector investments to financial intermediaries, such as CDFIs, that drove large amounts of capital to underserved communities during the global pandemic and beyond.
Biden administration proposes changes to Paycheck Protection Program
The new administration is looking to make changes to the Paycheck Protection Program (PPP). PPP was created as a forgivable loan program for small businesses impacted by COVID-19 and was included in the CARES Act of 2020.
Rural Community Assistance Corporation receives $5 million from Grow with Google Small Business Fund loan to help small businesses recover from COVID-19
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.
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.