West Sacramento, Calif. — Rural Community Assistance Corporation (RCAC) has named Robert Longman as its new credit officer for its $50 million loan fund. RCAC's loan fund offers a variety of low-interest loan products designed to help small communities and tribal governments finance affordable housing, water, waste water and community facility projects. Eligible borrowers to the RCAC loan fund include rural nonprofit organizations and local governments.
Longman, has more than 35 years experience in both rural development and lending. For many years he worked for the U.S. Department of Agriculture. He holds a bachelor of science degree in agriculture from Texas Tech University and has served as an RCAC loan officer for the past four years.
In his new position, Longman will review underwriting by RCAC loan officers to determine potential borrowers' credit worthiness while also determining if they meet RCAC investor requirements. Longmanís new position is vital, according to Mike Flanagan, director of RCAC's loan fund, because of the organization's expansion of unique rural lending programs. "We've increased our outreach to small communities, nonprofit organizations and tribes and our loan fund capital continues to grow," explained Flanagan. "Robert will be a great asset to RCAC as we serve an ever-expanding client base."
As credit officer, Longman will have a larger role in meeting clientsí specialized needs by dealing directly with individual borrowers. This type of detailed personal service is a trademark of RCAC's dedication to assisting rural communities to improve their residentsí quality of life.
RCAC is headquartered in West Sacramento, California, and serves 13 Western states. The nonprofit agency has more than 120 employees working to aide rural and small communities seeking to develop a wide range of local services including, community facilities, affordable housing and water treatment. Along with its loan fund — which operates with $50 million in lending capital — RCAC also provides training and technical assistance to its borrowers and other nonprofit organizations and small communities.