Donna Bates always dreamed of owning her own home and when she heard about Renaissance while attending a seminar, she decided to apply. “After I submitted the application online, I was contacted a few days later advising me of what I was approved for. The day I received the call, I was at work and I closed my office door and did a praise dance!” said Donna.
Going through the homeownership process is stressful but Donna said working with Renaissance made it a better experience. “I was so lost and confused with all the different aspects of owning a home for the first time”, said Donna “but the Renaissance team was right there to help me along the way. The guidance I received was the thing I enjoyed most and I really enjoyed working with Ms. Tj! She eased my fears and made the process more bearable.”
Through the process, Donna was able to make her dream come true and closed on her home in November of 2020. “To see how excited and happy my children are in our new home is an amazing feeling. Renaissance made my dream of owning a home into a reality. It is a wonderful feeling pulling up in MY driveway and opening the door to MY home. The process was hard at times but it is definitely worth it! Owning a home is truly a blessing!”
After 8 months, her patience and persistence paid off and she closed on her home in February 2021. “My experience with Renaissance was absolutely spectacular. From the immediate response after putting in my application to the final closing, I truly felt I was never alone in the process. As a single mom, purchasing my first home, I had tons of questions and Margaret and Melinda answered every single one and explained everything to me. I enjoyed everything about the experience. Renaissance not only allowed me to achieve my dream of purchasing a home, but they were an integral part of me restarting my life.”
If you’re one of the many businesses struggling to stay afloat during this Pandemic, the updates to the Paycheck Protection Program comes as good news, especially if you’re a small business owner with less than 20 employees.
Now through March 10, the SBA is exclusively approving forgivable loans to businesses and nonprofits with fewer than 20 employees. The intent is to provide these businesses the opportunity to work with lenders and community partners without having to compete with their larger counterparts.
Solo proprietors, independent contractors, and self-employed individuals will be able to get more financial support thanks to a modification to the program’s funding formula.
To find out about the other changes that were made, please visit the SBA’s Small Business Guidance & Loan Resources page. If you’re interested in applying, please visit www.rclfms.com/ppp-20.
Renaissance, Mississippi’s Premier Nonprofit Lender, stands ready to assist you with your PPP 2.0 application.
Renaissance partners with Mississippi’s small businesses only, placing them at the front, not the back of the line.
By using Renaissance’s online portal, you may complete and submit your application quickly and easily.
If your business suffered financial losses during any quarter of 2020, please begin to complete your application today!
For several generations, farm families in North MS have produced, packed and shipped sweet potatoes that come from a rich, fertile soil. The people of Vardaman have embraced their farming history, proclaiming it the "Sweet Potato Capital of the World."
446 Farms in Vardaman is Renaissance's first agricultural business loan client. We are excited to be a part of the continuing success of this multi-generational farm, focused on bringing wholesome and nutritious sweet potatoes to America's consumers as a part of the farm-to-table produce industry.
Renaissance Community Loan Fund Awarded $750,000 to Support Economic Growth in Mississippi Communities
Funding allows for growth and accessibility of affordable lending products
and services across Mississippi
Renaissance Community Loan Fund, a statewide non-profit community lender, has been awarded $750,000 from the U.S. Department of Treasury’s Community Development Financial Institutions Fund. The grant is part of the highly competitive 2020 CDFI Program, which was established to serve low-income communities across the country through financial and technical assistance.
RCLF, which provides tailored mortgage and business lending options, along with personalized financial counseling for all of its clients, will use the award to expand accessibility to its products and services across Mississippi. RCLF is the only Community Development Financial Institution located in Mississippi with 100% of its activities remaining in Mississippi. RCLF’s primary objective is to expand economic opportunity to all communities in Mississippi.
“The CDFI award will allow RCLF to continue our responsible and affordable lending in Mississippi,” said Kimberly LaRosa, president and CEO of Renaissance Community Loan Fund. “We are committed to the communities in which we live and serve, especially those areas in the state that are often underserved or not served.”
For information on Renaissance Community Loan Fund and its lending programs that are available throughout Mississippi, visit www.rclfms.com.