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 Wells Fargo funds will support technical assistance for rural small business owners in Northern California impacted by COVID-19.
In addition to loans for small businesses, RCAC’s RELieF program provides one-on-one technical assistance with expert consultants contracted by RCAC. They offer financial coaching on business operations such as cash flow analysis and projections, as well as advice on the best use of RELieF funds.
“Technical assistance is a critical element to ensure borrowers have the tools they need to reenter the market from a position of strength,” said Suzanne Anarde, RCAC Chief Executive Officer. “We welcome Wells Fargo’s ongoing partnership in these efforts.”
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. About RCAC
Julia Helmreich, director
Communications, Development & Events
(916) 447-9832 ext. 1001