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Loan Fund News

28 CARS™-Rated CDFIs awarded grants from Create Jobs for USA Fund

CARS™, the CDFI Assessment and Ratings System, is pleased to announce that 28 of its top-rated CDFIs are the first recipients of capital grants from Starbucks and Opportunity Finance Network’s (OFN) Create Jobs for USA Fund. Only a subset of the highest CARS™-rated community development financial institutions (CDFIs) received invitations to apply in the initial funding round. Read more>>

Create Jobs for USA Fund surpasses $1 Million in Donations since Nov. 1 Launch

Starbucks Coffee Company and Opportunity Finance Network announced that the Create Jobs for USA Fund has surpassed $1 million in donations within the first two weeks of the program’s November 1st launch. To date, $6 million has been contributed to the Create Jobs for USA Fund, which includes a $5 million donation from the Starbucks Foundation to seed this initiative. Read more>>

The future of rural rental housing finance

By Ginger McGuire, senior vice president, Lancaster Pollard 

Federal budget recommendations and legislative proposals are raising questions about the future of federal financial support for rural affordable rental housing projects and about how these much-needed developments will be funded in coming years. Read more>>  

RCAC Loan Fund lends more than $7.7 million in rural communities

In its fourth quarter ending Sept. 30, RCAC lent more than $7.7 million to rural communities in California, Idaho, New Mexico, Utah and Washington to finance important community projects. All told, in Fiscal Year 2011 RCAC closed 39 loans which totaled $22,961,392 in 10 states; and supported 4,942 individual water and wastewater connections for rural residents; 460 housing units; 50,466 feet of community facility space; and created or retained 235 jobs. Read more>>