Where: Hilo, Hawaii

Issue: A nonprofit organization needed funds to purchase its building

Outcome: Rural Community Assistance Corporation’s (RCAC) Loan Fund provided a $200,000 loan

Hawaiian Community Assets, Inc. (HCA) is a U.S. Department of Housing and Urban Development certified housing counseling agency and financial education provider. HCA works with low- and moderate income residents to achieve and sustain economic self-sufficiency, with a primary focus on native Hawaiians. The organization also operates a native community development financial institution to increase access to capital to native Hawaiians.

RCAC provided a $200,000 loan to help HCA take advantage of the opportunity to purchase the building it was renting in Hilo, Hawaii. HCA plans to continue to maintain an office there and rent the remainder of the building to other businesses and provide a business incubator site where small and emerging businesses can rent office space on a short-term basis and at below market rates. With desirable office space in short supply, the purchase will enhance the organization’s ability to provide essential community services to native Hawaiians and other low-income residents.