West Sacramento, Calif. — California Bank & Trust (CB&T) invested $1 million in RCAC’s Loan Fund and provided a $10,000 grant to support RCAC’s Re-Emerging Loan Fund (RELieF), which assists California small businesses as they become operational post COVID-19.
RELieF supports small business clients that experience considerable challenges as they restart operations following the COVID-19 crisis. The coaching helps the business analyze its current financial position and work through scenarios for the highest and best plan for RELieF funding, tailored to its specific situation. Repayments are structured to allow for recovery.
Suzanne Anarde praised the news saying, “We are grateful for California Bank & Trust support. RCAC established the RELieF with an eye toward long-term recovery for the rural small business owners we serve. Continued funder support directly helps these business owners and their communities.”
Founded in 1978, RCAC provides training, technical and financial resources and advocacy so rural communities can achieve their goals and visions. RCAC serves rural communities in 13 western states and western Pacific islands. Services are available to communities with populations of fewer than 50,000, other nonprofit groups, Tribal organizations, farmworkers, colonias and other specific populations. RCAC staff provides direct services in program areas including affordable housing, environmental services, economic development and lending. About RCAC
Julia Helmreich, director
Communications, Development & Events
(916) 447-9832 ext. 1004