Renaissance Community Loan Fund Awarded $950,000 to Support Economic Growth in Low-Income Communities in Mississippi

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Funding allows for continued growth of the CDFI and expansion of products and services throughout Mississippi

“Renaissance is honored to receive this award of funds and is grateful to the US Treasury and the CDFI Fund for allowing us to continue our mission and promote economic opportunity throughout the state,” said Kimberly LaRosa, president and CEO of Renaissance Community Loan Fund.

Renaissance Community Loan Fund officials announced the local nonprofit has been awarded $950,000 from the U.S. Department of Treasury’s Community Development Financial Institutions Fund. The grant is part of the 2018 CDFI Program, which was established to serve low-income communities across the country through financial and technical assistance.

Renaissance, a nonprofit Community Development Financial Institution, provides personalized lending products, and specializes in assisting low-income and credit-challenged borrowers achieve homeownership and become business owners. As a CDFI, Renaissance supports its clients with extensive financial counseling throughout the life of the loan, resulting in a greater client success rate.

Renaissance will use the funds to expand its products and services in the state. Renaissance began offering affordable lending programs in 2007 in South Mississippi, and in 2017, opened an office in Tupelo to better serve the residents in North Mississippi. This award now allows Renaissance to continue its growth with a focus on Central Mississippi. Additionally, the award provides the resources to expand on its specialized loan products to meet the needs of its existing and new borrowers throughout Mississippi.

“Renaissance is honored to receive this award of funds and is grateful to the US Treasury and the CDFI Fund for allowing us to continue our mission and promote economic opportunity throughout the state,” said Kimberly LaRosa, president and CEO of Renaissance Community Loan Fund. “It was a record amount of funding announced for CDFI’s in Mississippi, due in large part to the outstanding advocacy by our Mississippi delegation to demonstrate the importance of CDFI Fund programs in the state.”

For information on Renaissance Community Loan Fund and its lending programs that are available throughout Mississippi, visit http://www.rclfms.com.

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Denise Carver
@RCLFMS
since: 06/2011
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