Renaissance Community Loan Fund

About Renaissance Community Loan Fund

Renaissance Community Loan Fund (RCLF) is a 501(c)3 established in 2006 to serve low-income residents & underserved communities in Mississippi. RCLF was founded after Hurricane Katrina to bridge the gap for safe, affordable housing in six south MS counties. RCLF had several programs that offered residents the opportunity of homeownership through low-cost/-rate lending, as well as financial counseling. RCLF was certified by the US Dept. of Treasury as a Community Development Financial Institution (CDFI) in 2010 after meeting stringent requirements of certification, including:

• organization is a financing entity
• primary mission of community development
• offers development services

As a CDFI, RCLF expanded to include unique business lending opportunities, but the main product line remains affordable housing, representing 77% of total loans. Important housing statistics include:

• Over 1650 homes financed through 1st & 2nd mortgages, down payment assistance & forgivable loans, & closing cost assistance
• Principal owner of 118-unit senior affordable complex primarily serving low-income tenants. Riverside has served nearly 350 tenants, 90% being low-income
• Total financing for affordable housing is nearly $118 million

RCLF continues to bridge the affordable housing gap & promote community & economic development in MS through mortgages, DPA, home improvement & affordable housing development loans.

RCLF is unique to most HPN members as it provides financing to small businesses to support economic development & entrepreneurial growth in MS. Since 2011, RCLF has provided $28.2 million to more than 200 businesses & $6.6 million in Paycheck Protection Program loans to nearly 400 businesses.