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 has grown in capacity, reach, and product offering. Now rebranded as Renaissance Community Loan Fund and offering services to Mississippians throughout the state, 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 community 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
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
Renaissance launches MyHome MyCoast, funding 651 homes.
Renaissance receives additional funding from the governor due to the successful deployment of allocated funds and receives certification as a Community Development Financial Institution (CDFI).
Renaissance Community Loan Fund begins offering commercial loans to Mississippi businesses.
Renaissance 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.
Begins 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.
Renaissance is selected as the only Mississippi-based SBA Micro-Lender.
Renaissance launches dedicated in-house financial counseling and training facility.
Renaissance is awarded $1.15 million through US Treasury/CDFI for financial assistance.
Renaissance is awarded $15 million New Markets Tax Credit Allocation.
Renaissance is rebranded to “Renaissance Community Loan Fund.”
RCLF expands to North Mississippi by opening an office in Tupelo.
RCLF is awarded $976.5k from CFDI Fund/CORE Grant Program
RCLF is awarded funding from Enterprise Communications Partners for Veterans Housing Focus.
RCLF expands to Central Mississippi by opening an office in Jackson.
RCLF holds a Grand Opening for a new, larger corporate office in Gulfport.
MS Home Corporation awards RCLF $1.5M for funding veteran housing.
RCLF provides $1.3M to Mississippi small businesses as an approved Paycheck Protection Program lender.
RCLF becomes a certified HUD Housing Counseling Agency.
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 grants RCLF a $50k grant to increase housing access in high-need rural and rural Mississippi counties.
RCLF is awarded $40.6k from the Department of Housing and Urban Development (HUD).