West Sacramento, Calif. — Rural Community Assistance Corporation (RCAC) was awarded a $100,000 Morgan Stanley grant to support RCAC’s programs, specifically its new Re-Emerging Loan Fund (RELieF) to help small business borrowers recover from the COVID-19 crisis.
RELieF loans will help small businesses as they reemerge into their marketplaces, and will fund activities including material restocking, refinancing and business and cash flow analysis.
“Morgan Stanley’s support ensures our rural and Tribal communities will be equipped for the long process of financially recovering from COVID-19,” said Suzanne Anarde, RCAC chief executive officer. “We are pleased to continue our partnership with Morgan Stanley, which allows us to expand our financial reach with additional resources.”
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 collaboration with local and community partnerships in three program areas: affordable housing, environmental services, and lending. To learn more about RCAC, visit http://www.rcac.org
Julia Helmreich, director
Communications, Development & Events
(916) 447-9832 ext. 1008