b'Increased Investment Loan Fund This scope is possible because RCACCompleting the complex puzzle of works with 58 qualified employersaffordable housing wouldnt be possible In 2021, RCACs Loan portfolio grewand their 86 individual loan packagers.without partnerships on the funding side. to $168 million. The team processedOrganizations consistently applyRCAC is a vital piece of that puzzle to and closed 299 loans, 67 percent moreto become loan packagers. Themake these homes a reality, Carillo said. loans than in FY2020, and added 236interdependent relationship allows RCACRCAC has always been seen as one of new borrowers, while serving 63 repeatto match its lending expertise with eachthese mission-driven funding sources that borrowers. states qualified employers on-the-groundcan fill gaps to make a project work. In Paycheck Protection Programknowledge. The employers leverage theirthis case, its a $19 million loan. Its more and RELieF Loans networks, and RCAC leverages its trainingsthan a significant contribution. Without it, and Loan Fund experts. RCAC alsothis vision is not a reality.The Loan Fund continues to process PPPprovides program marketing materials to loan forgiveness applications successfully.Organizational qualified employers to distribute in their The RELieF loan program took off with 29communities. Fund Development exceeded all loans closed. As businesses reopen andfundraising goals, increasing capital and stay open, the demand for RELieF loansLantana homesgrant funding available for investment in should continue to increase. RCAC provided a $19.1 million loan toour communities.502 Direct Loan Packaging support construction costs for LantanaCommunity & Environmental RCAC conducted 502 loan packagingHomes, a 48-unit subdivision in SonomaWe raised: .$18,898,728 in 14 states and reviewed 242 loansCounty, where the housing challengeGoal: .$12,000,000became a crisis in October 2017 after resulting in more than $78 million inwildfires created devastating propertyLoan Fundloans for families. The 502 Direct Loandestruction. The loan was one of theWe raised:$52,701,890Program was designed for low- and verylargest in RCACs history. Morgan StanleyGoal:$50,000,000low-income applicants in rural areas asInvestment Bank partnered with RCAC an affordable alternative to traditionaland contributed $17.5 million to the loan.Housing mortgage financing, providing subsidizedMorgan Stanley had an initiative to assistWe raised:.$7,010,479 mortgage loans for modest homes inwith wildfire recovery efforts and hadGoal: $5,500,000rural areas. Since the programs inceptionrecently participated in another RCACNon-Public funds in 2014, RCAC processed 523 loans forloan in Sonoma County.We raised: .$24,720,384 $116,049,331. Of those loans, $6,796,724Goal: $2,000,000 were made in communities that theEfren Carrillo, Vice President of residential federal government classifies as persistentdevelopment at Burbank HousingTotal funds raisedpoverty, and $29,826,477 were lent toDevelopment Corporation said theWe raised: .$99,013,382very low-income families. funding was the game changer Burbank needed.2021 Rural Community Assistance Corporation Annual Report 7'