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Michael Carroll appointed RCAC Loan Fund director

July 31, 2008

(WEST SACRAMENTO, Calif.) — Long-time Sacramento resident Michael Carroll was recently named Rural Community Assistance Corporation’s (RCAC) Loan Fund director.

Carroll comes to RCAC with a wealth of experience in affordable housing and community development lending. Most recently, he was director of sales and marketing for Fannie Mae Multifamily. He was also director of Fannie Mae’s Sacramento Partnership Office, where he developed local initiatives to support Fannie Mae’s American Dream Commitment and a $20 billion/five-year investment plan for the Central Valley . Prior to that, he had a long tenure with Bank of America, where he developed and refined affordable housing lending products and other community lending activities. Carroll began his career as a VISTA volunteer and then full time employee at Self-Help Enterprises before moving to Sacramento to work for the State Department of Housing and Community Development. 

“We are so excited to have Michael join RCAC’s staff. His background in lending and early training in community development brings the perfect blend of skills to this important position. We are anxious to see the changes that he will bring to our Loan Fund,” said Stanley Keasling, RCAC’s chief executive officer.

RCAC creates opportunities in rural America by providing training, technical and financial resources. RCAC assists rural organizations and communities to achieve their goals and visions. Major program areas are affordable housing, environmental infrastructure development and community development finance. RCAC’s corporate office is in West Sacramento with field offices located in 13 Western states.

RCAC’s loan fund fills financing gaps in rural communities and serves those traditionally neglected by conventional markets. As a Community Development Financial Institution , RCAC’s loan fund offers a comprehensive array of products for affordable housing development, environmental infrastructure and community facilities in rural locations. Each RCAC loan product is designed to meet the unique underwriting and structuring needs of nonprofit and local government borrowers.

Visit RCAC on the World Wide Web at www.rcac.org

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