RCLF receives $3 Million Investment from Regions Community Development Corporation
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Financial commitment from Regions Bank subsidiary is designed to help RCLF sow new seeds of investment across Alabama.
By helping RCLF expand its presence, we are working to create more opportunities for individuals, businesses, and communities to thrive.”
MOBILE , AL, UNITED STATES, January 30, 2025 /EINPresswire.com/ -- Leaders from RCLF (Renaissance Community Loan Fund) announced on Jan 30th a $3 million line of credit from the Regions Community Development Corporation (Regions CDC)- a wholly owned subsidiary of Regions Bank. This substantial investment marks a significant milestone for RCLF as it continues to expand its services in Alabama to provide affordable housing opportunities and streamline access to capital for small businesses.— David Christian, COO for the Regions Community Development Corporation
Based in Mississippi, RCLF is a Community Development Financial Institution (CDFI) offering home and business loans along with financial counseling and business coaching. With a strong track record of delivering these services in Mississippi, RCLF will now sharpen its focus in Alabama, addressing the state’s critical need for capital access. Through this partnership, RCLF aims to foster economic and financial growth and inclusion, showcasing the impact collaborative efforts between Community Development Financial Institutions (CDFIs) and large financial institutions can achieve.
“The Regions CDC’s investment in RCLF is a testament to Regions’ belief in the transformative power of Community Development Financial Institutions,” said Kimberly LaRosa, President & CEO of RCLF. “This funding allows us to better serve communities in need of financial resources that fuel growth and stability, especially as we build on the work we’ve already started in Alabama. We are grateful for the Regions CDC’s community partnership and the bank's commitment to our shared vision of making a positive impact.”
“Regions Bank operates with a clear mission to make life better, and supporting more CDFIs, especially in our headquarters state, is another way we’re fulfilling that mission and helping more people have access to quality financial services,” said David Christian, Chief Operating Officer for the Regions Community Development Corporation. “Supporting RCLF’s work in Alabama is especially meaningful because there’s a tremendous need for more CDFI financing in the state. By helping RCLF expand its presence, we are working to create more opportunities for individuals, businesses, and communities to thrive. This collaboration reflects our commitment to making a difference where it’s needed most.”
The collaboration between the Regions CDC and RCLF highlights the potential for impactful community partnerships to drive sustainable economic development. With the added flexibility of this line of credit and the shared commitment of both organizations, RCLF is poised to deliver innovative financial solutions and provide long-lasting impact to the communities it serves.
For more information about RCLF and its mission, visit RCLFMS.com.
Brailey Penny
RCLF
+1 228-896-3386 ext. 110
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