The RCLF Story
The History of Renaissance Community Loan Fund
Hurricane Katrina in South Mississippi
Hurricane Katrina hit South Mississippi in August 2005. In the devastating storm’s wake lay some of the greatest structural devastation from a natural disaster in the history of the United States.
Gulf Coast Renaissance Corporation
But amid the flooded ruins, hope found a way to float through the vision of several South Mississippi community and business leaders, organized as The Gulf Coast Business Council. The nonprofit group had the foresight to understand the key to the area’s recovery would be a unified effort focused on redevelopment. In mid 2006, the council created Gulf Coast Renaissance Corporation to help rebuild the Mississippi Gulf Coast by bridging the gap in the need for safe and affordable workforce housing.
Renaissance Community Loan Fund
Since then, Renaissance Community Loan Fund has grown in capacity, reach, and product offering. Now rebranded as RCLF and offering services to the people of Mississippi and Alabama, RCLF has become a Community Development Financial Institution, been designated as an SBA micro-lender, certified as a Community Development Entity (CDE) and approved as a Community Housing Development Organization (CHDO).
RCLF helps make distinct improvements to the Mississippi and Alabama communities by promoting community and economic development. Our success has been marked by our ability to:
- Understand community needs
- Create a highly qualified team to meet those needs
- Develop a customized and thoughtful approach to the programs we implement and manage
- Proactively define and achieve short-term and long-term objectives for our programs
RCLF Milestones
Founding
The Gulf Coast Renaissance Corporation is founded.
REACH Program Launches
The Regional Employer Assisted Housing Program is launched, funding 179 homes.
MyHome MyCoast Program Launches
RCLF launches MyHome MyCoast, funding 651 homes.
CFDI Status
RCLF receives additional funding from the governor due to the successful deployment of allocated funds and receives certification as a Community Development Financial Institution (CDFI).
Commercial Lending
Renaissance Community Loan Fund begins offering commercial loans to Mississippi businesses.
Federal Home Loan Bank Dallas Member
RCLF is accepted as Mississippi’s first non-bank CDFI institution member by FHLB Dallas
CDFI Financial Award
Selected as Mississippi’s only organization to receive CDFI financial award of $1.453 million.
Expanded Home Program
RCLF began program geared to storm mitigation and energy efficient improvements.
SBA Community Advantage Lender
Renaissance becomes an SBA Community Advantage Lender and enjoys public-private partnership success with grand opening of Riverside independent senior complex.
SBA Microlender Award
Renaissance is selected as the only Mississippi-based SBA Micro-Lender.
RCLF In-House Counseling & Training
RCLF launches dedicated in-house financial counseling and training facility.
CDFI Award
RCLF is awarded $1.15 million through US Treasury/CDFI for financial assistance.
NMTC Allocation
RCLF is awarded $15 million New Markets Tax Credit Allocation.
Renaissance Re-Brand
Gulf Coast Renaissance Corp is rebranded to “Renaissance Community Loan Fund.”
Tupelo Expansion
RCLF expands to North Mississippi by opening an office in Tupelo.
RCLF Awarded from CDFI Fund
RCLF is awarded $976.5k from CFDI Fund/CORE Grant Program
Jackson Expansion
RCLF expands to Central Mississippi by opening an office in Jackson.
Grand Opening
RCLF holds a Grand Opening for a new, larger corporate office in Gulfport.
MHC Awards RCLF for Veteran Housing
MS Home Corporation awards RCLF $1.5M for funding veteran housing.
Becoming a PPP lender
RCLF provides $1.3M to Mississippi small businesses as an approved Paycheck Protection Program lender.
HUD Certification
RCLF becomes a certified HUD Housing Counseling Agency.
PPP Lending for Small Businesses
Provides an additional $3.5 million to Mississippi small businesses through the Paycheck Protection Program.
The CDFI Fund awards RCLF $1.8M under its Rapid Response Program.
Fannie Mae Grant Recipient
Fannie Mae grants RCLF a $50k grant to increase housing access in high-need rural and rural Mississippi counties.
RCLF Awarded from HUD
RCLF is awarded $40.6k from the Department of Housing and Urban Development (HUD).
SBA Top Micro Lender Award
RCLF is awarded by the Small Business Administration for the Top Loan Volume and Top Dollar Microloan in 2021.
SBA Top Micro Lender Award
RCLF is awarded by the Small Business Administration for the Top Loan Volume and Top Dollar Microloan for the second year in a row
Expansion into Alabama
RCLF expands service area into Alabama, now offering our commercial and mortgage services in two states.
Funding Success
RCLF is accepted into NeighborWorks America
RCLF selected for CDFI Bond Guarantee Program with $20M Bond Loan
RCLF allocated $14.7M through SSBCI Program
RCLF Launces Virtual Resource Center
RCLF officially announced COMPASS, the virtual business resource center.
