Resources
Total Funding
Funding Source
Maximum Award
Award Details
- Short-term loans:
- Feasibility studies: Normally not more than $10,000
- Acquisition: Maximum loan amount up to appraised value of site normally not to exceed $3 million
- Construction: Normally not to exceed $3 million
- Interest rates and fees are determined periodically and are subject to change. Short-term rates are generally in the 5% range.
- Long-term loans: Normally not to exceed $6 million
Eligibility
Nonprofit organizations, public agencies and Tribal governments. Projects must be located in rural areas with populations of 50,000 or less in Alaska, Arizona, California, Colorado, Hawaii and other pacific islands, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington or Wyoming. In instances where the USDA Community Facility loan program is used as the take-out source for an RCAC short-term loan or as a guarantor for an RCAC long-term loan, the rural area population limit is 20,000.
Eligible Activities
Eligible projects include community facility projects that primarily serve low-income populations or that serve the general population in a community where median household income does not exceed the state or the county median household income, whichever is greater. Applicable facilities include public and nonprofit office buildings, treatment centers, emergency and transitional housing, assisted living, human services, public safety, child care, education and cultural facilities. Many other project types are eligible.
Duration
Notable Requirements
Applications are specific to the requested loan product. The RCAC loan committee can make loan policy exceptions to tailor a loan to fit particular project needs.
Preferences
RCAC gives priority to loan applications for projects that incorporate significant green methods and materials.
How to Apply
Complete the application online. RCAC loan officers can provide application assistance.