b'1987 In 1987 RCAC rented office space from the First RCACHousing Authority of Thurston County in Olym-pia, Washington. This was its first satellite office. satelliteThe following year, RCAC moved the office toLacey, Washington, in a building that housed other businesses but shared central copying officeand telephone services, was ADA accessible and had free parking! notes Billie Heath, rural development specialist, housing, who still works from the location. 1988 In 1988 RCAC established the Loan Fund to RCACsupport its housing clients predevelopment activities. The initial investment came from a 10-establishesyear $1 million loan from The Ford Foundation. Later, Bank of America provided an additional $1 million two-year loan. Using these funds for Loan Fund leverage, RCAC received a 30-year $2 million loan from the Farmers Home Administrations (now USDA) Intermediary Relending Program in 1991. In 1993, Bank of America provided a second infusion of loan fund capitalbut this time, as a $1 million grant. RCAC repaid the Bank of America loan in 1991. As of Sept. 30, 2018, RCAC closed 1,033 loans totaling more than $500 million and leveraged more than$2 billion for projects in rural communities. '