South Carolina Community Loan Fund (SCCLF) has been awarded $10 million to finance community facilities in rural census tracts in South Carolina through the USDA’s Community Facilities Relending Program. The organization will also receive a grant from the Uplift America Fund and a program related investment from Bank of America as a guarantee on the loan. SCCLF is among 26 CDFI’s nationwide that received funding through the Community Facilities Relending Program, and 20 Uplift Fund grant recipients. This collaboration between banks, philanthropic foundations, and community development organizations will allow SCCLF and other CDFI’s across the country make a significant impact in communities with the greatest need.

USDA is providing a total of $401 million in Community Facilities capital to local lenders. The funding may be used to build, acquire, maintain or renovate essential community facilities, such as education, health care and infrastructure, in rural and high poverty census tracts.

“By engaging with local and national partners, private-sector financial institutions and philanthropic organizations, USDA will inject a game-changing level of investment capital to reduce poverty in targeted rural areas where the capacity for growth has not been realized,” said Secretary of Agriculture Thomas Vilsack. The funding will allow SCCLF to boost lending in rural South Carolina counties, many of which experience poverty levels of 20 to 30 percent.

“The unique partnership that has been established through the Uplift America Fund and Community Facilities Relending Program will help us provide essential services and improve quality of life in low-income, rural communities by providing much-needed, long-term capital,” said Chief Executive Officer Michelle Mapp. “We are grateful to have an ongoing relationship with both Bank of America and the Mary Reynolds Babcock Foundation, and look forward to continuing to work with them to increase the wealth and health of disinvested communities throughout the state.”

Nonprofit organizations and government entities interested in securing funding for community facilities projects are eligible to apply for financing through SCCLF’s $10 million community facilities fund. SCCLF will be hosting a funding round specifically for those interested in pursuing financing through this program on November 10, 2016 from 1pm to 3pm at Midlands United Way (1818 Blanding Street Columbia, SC 29201). Eligible projects must increase the quality and/or availability of neighborhood facilities in high poverty, rural communities.

Learn more and register for the community facilities funding round here.