West Sacramento, Calif. — Ceniarth LLC, a private foundation focused on funding market-based solutions that benefit underserved communities, committed an initial $3 million investment to Rural Community Assistance Corporation (RCAC) to bolster its ability to lend under the Paycheck Protection Program (PPP).
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Ceniarth commits an initial $3 million in zero-interest loans to extend CDFIs’ lending power
Ceniarth LLC, a private foundation focused on funding market-based solutions benefiting underserved communities, has committed an initial $3 million in zero-interest loans to Rural Community Assistance Corporation (RCAC) to bolster its ability to continue to lend under the Paycheck Protection Program (PPP).
Charles Schwab Bank grant supports RCAC’s work with Nevada’s rural communities
West Sacramento, Calif. — Charles Schwab Bank this week awarded $20,000 to Rural Community Assistance Corporation (RCAC) to support its work with Nevada’s rural communities.
Rural Community Assistance Corporation’s Loan Fund celebrates 30 years of lending
July 25, 2018 marks Rural Community Assistance Corporation (RCAC) Loan Fund’s 30th anniversary. RCAC created the Loan Fund in 1988 with an initial $1 million investment from the Ford Foundation. An additional $1 million loan (later converted to a grant) from Bank of America boosted lending capital. The Loan Fund was later certified as a Community Development Financial Institution (CDFI).