Renaissance Community Loan Fund (RCLF) proudly announced a company milestone of surpassing $50 million in outstanding loans at the end of October. This achievement marks a historic first for RCLF, a nonprofit Community Development Financial Institution that began its lending journey in 2007 in response to Hurricane Katrina and has since evolved into a successful mission-driven organization now known for providing personalized lending and financial counseling services.
Of the $50 million in outstanding loans, mortgage loans accounted for $33 million. The remaining $17 million represents a targeted focus on commercial loans specifically directed toward empowering small businesses to thrive and grow. This milestone was reached through the successful funding of small businesses throughout Mississippi, such as The Depot on Canal in Picayune and Oopsy Daisy Floral & Gifts in Mooreville.
The Depot on Canal will be a restaurant and rental space in downtown Picayune, Mississippi. This is the second restaurant venture for local Picayune business owner Ray Hart, who also owns Creekside Coffee Café and A-Plus Insurance Agency. “My hometown of Picayune is growing in the right direction. My hope and desire are to be a beneficial part of the positive changes in this historic, beautiful, centrally located town,” said Ray Hart.
Oopsy Daisy Floral & Gifts was inspired by Mikayla Clouse’s sister Katelyn and her love and talent for floral arrangements and handmade gifts. The sisters’ dream was to open a storefront to host community events and provide a one-stop shop for floral arrangements and thoughtful gifts. “We want Oopsy Daisy Floral & Gifts to provide our community with bright, uplifting love during times of loss, celebrations, anniversaries, and all other events,” shared Mikayla. She and Katelyn have combined their retail expertise and artistic flair to make the shop an inviting space for the Mooreville community to spread positivity, celebrate life, and honor families.
“The businesses we lend to exemplify the impact we aim to achieve—helping small businesses thrive and creating positive and lasting impacts on the community and the local economy”, said Renaissance Community Loan Fund President & CEO, Kimberly LaRosa.
This organizational milestone showcases RCLF’s dedication to enhancing local communities and economies. By funding sustainable businesses and helping them thrive through coaching and resources, RCLF creates employment opportunities and economic growth throughout Mississippi and Alabama.
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About Renaissance Community Loan Fund
Renaissance Community Loan Fund is a nonprofit Community Development Financial Institution on a mission to empower residents with the essential skills, knowledge, and financial opportunities necessary for achieving success as homeowners and business owners. RCLF goes beyond offering home and business loans. Our dedicated team of housing counselors and business coaches guide and support clients throughout their journey to home or business ownership. RCLF strives to turn the dreams of residents in Mississippi and Alabama into realities, fostering vibrant communities and sustainable economic growth. To learn more about RCLF, visit rclfms.com.