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RCAC receives $2 million Capital Magnet Award
U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund awarded RCAC a $2 million grant from the fund’s inaugural Capital Magnet Fund Program. CDFI received 230 applications and made awards to 23 organizations totaling $80 million.
RCAC loan fund ends fiscal year on high note
In its fourth quarter ending September 30, RCAC lent more than $8.6 million to rural communities in California, Colorado, New Mexico and Utah to finance important community projects. RCAC ended its fiscal year with 39 closed loans totaling more than $30.6 million and leveraged $65 million to support affordable housing, environmental infrastructure and community facilities.
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