What do desks, chairs, and tables mean? To Granada East Elementary school in Phoenix, they are a blessing. As we moved out of our previous Downtown Phoenix office, the Raza Development Fund was proud to donate furniture to Granada East, a school dedicated to serving students in the 95% low socioeconomic population, over 80% of which are Hispanic students. The donation fell in line with the RDF mission and values: giving to those who need it most and knowing it would benefit education in our community bringing pride and joy to teachers and students. Instead of folding tables, their staff …

At RDF, we often share our amount of financial investments and technical assistance to communities, but the true impact lies in the faces and names, the real stories behind those big numbers. It’s the people our RDF Family work so hard for and are passionate about serving. And sometimes, our impact is brought full circle with individuals like Sandra Vazquez Salas. Sandra is a recipient of the Los Medicos Scholarship presented by the Hispanic Women’s Corporation; a UnidosUS affiliate, and an organization RDF has supported for many years. After four successful years of medical school, Sandra is now on her …

The Raza Development Fund’s Small Business Initiatives (SBI) team members approach their work with passion and a lot of heart to support our clients. When the Small Business Administration (SBA) announced the Paycheck Protection Program (PPP) loans and subsequent extensions, our team jumped into action to support small business owners through the entire loan process from application to possible loan forgiveness. Throughout the months, our team has grown to be ready and able to provide as much assistance to our clients as needed. It is truly a labor of love and requires us to understand the needs of each small …

The Desert Mission Health Center in the Phoenix Sunnyslope neighborhood began serving the community’s needs giving medical aid and food to the needy 94 years ago and has continued to provide services through many decades.  It became part of Neighborhood Outreach Access to Health (NOAH) in 2015, a Federally Qualified Health Center (FQHC).  Its FQHC designation demonstrates that NOAH strives to and meets the needs of an underserved area with a great reception from the community. Currently located in a 6,600 square-foot renovated former church in the Sunnyslope community, the Desert Mission Health Center has served generations of families with …

Prior to the pandemic, running a successful small business was no easy feat. According to the U.S. Bureau of Labor Statistics in August of 2020, it was estimated that 20% of small businesses would fail within the first year, at the end of their fifth year close to 50% would fail, and in 10 years only one third of small businesses would still exist translating into an even higher failure rate of 70%. Unfortunately, the COVID-19 pandemic contributed to the already existing struggles and brought so many more new challenges for small businesses to face for survival. Since the onset …

Private companies are considered “for-profit” entities, which clearly outlines their purpose – making money for their shareholders by providing a service people will pay for in a marketplace. Their counterpart “not for profit” entities are more complex, serving multiple stakeholders and aligning themselves to community needs. Yet, their nonprofit label communicates what they are not and offers no clear definition or path for sustainability. Words are powerful and these connotations often result in demonstrating that nonprofit organizations are not on a level playing field. After all, would calling nonprofits “charitable” and for-profit organizations “uncharitable” work? Probably not. At Raza Development …

2020 was unlike any other year because it would capture a moment in time amidst one of history’s most unprecedented pandemics.  People, families, and entire communities were suffering through sickness, loss of their loved ones and their suffering businesses meant a loss of income for their families.   When I first joined the RDF Communications team in February, my first assigned project was to work on RDF’s 2020 Annual Report, and from the beginning, I knew this report would be very different. An Annual Report is essentially an investment report highlighting an organization’s mission and impact and provides a comprehensive review …

FOR IMMEDIATE RELEASE: February 24, 2021 Contact: Ruby Marinez Phone: 602-417-1415 Email: rmarinez@razafund.org RAZA DEVELOPMENT FUND AWARDED WELLS FARGO OPEN FOR BUSINESS GRANT TO PROVIDE RELIEF FOR SMALL BUSINESSES IMPACTED BY COVID-19   PHOENIX, AZ.—Raza Development Fund (RDF), the nation’s largest Latino Community Development Financial Institution (CDFI), has been awarded a $3.5 million grant from the Wells Fargo Open For Business Fund in support of its Small Business Initiative program which serves minority and women-owned small businesses suffering from the impacts of the Covid-19 pandemic. The funding will extend its reach to support small businesses in Arizona, Ohio, Texas, Minnesota, …

Over the past few years, I’ve had the unique opportunity of working for the Specialty Finance team at RDF. This experience has opened my eyes to the profound impact New Markets Tax Credits (“NMTC”) has provided to underserved communities across the country and also how vital Source Loans are to the NMTC Structure.  For those of you that are unfamiliar with the NMTC Program, the NMTC Program “incentivizes community development and economic growth through the use of tax credits that attract private investment to distressed communities” (cdfifund.gov). Instinctually, you may ask, what does this mean, what is a Source Loan, …