Wells Fargo Foundation Awards Millions to Raza Development Fund and CPLC to Spark Small Business Growth and Job Creation
Diverse Community Capital Program invests nearly $4 million in Arizona to help underserved and diverse entrepreneurs grow PHOENIX, January 30, 2020 – To accelerate the growth of diverse small businesses and job creation in the greater Phoenix region, the Wells Fargo Foundation is investing millions with Raza Development Fund (RDF) and Prestamos. The funds will not only help grow and sustain more local jobs, but will also help bolster local neighborhoods. As part of its Diverse Community Capital program, these two grants will go towards helping to expand financing, financial education and new loan products for minority small businesses, small business owners, …
RDF Awarded Bank of America Grant for Small Business Support Along South Central Corridor
FOR IMMEDIATE RELEASE: February 14 , 2020 Contact: Ruby Marinez Phone: 602-417-1415 Email: rmarinez@razafund.org PHOENIX, Ariz.— The Raza Development Fund (RDF), the nation’s largest Latino Community Development Financial Institution (CDFI), has been awarded a $150,000 grant from the Bank of America Charitable Foundation in support of its Small Business Initiative program bringing resources to entrepreneurs and their South Phoenix businesses along the South Central Extension of the light rail corridor. The Fund was established with an original $20 million investment from Bank of America, and for 20 years BofA has continued to support RDF in a variety of ways to help create …
RDF Expands Into Capital Market with Community Investment Taxable Bonds
FOR IMMEDIATE RELEASE: November 27, 2019 Contact: Tom Espinoza Phone: 602-417-1409 Email: tespinoza@razafund.org PHOENIX, Ariz.— The Raza Development Fund (RDF) completed its inaugural public debt offering by issuing $50 million in community investment taxable bonds. The bonds are unsecured, interest only, maturing in July 2034, and paying an annual coupon of 3.53% every six months. Hilltop Securities and J.P. Morgan were the underwriters in the transaction, with Lewis Roca Rothgerber Christie, and Greenberg Traurig acting as issuer’s and underwriter’s counsel, respectively. “Our mission is to serve Latino & Poor families by providing access to important community resources. This …
The Portland Mercado, a public market that will serve as a hub for up to 20 businesses
Raza Development Fund, the largest Latino Community Development Financial Institution in the country and Hacienda Community Development Corporation, proudly announce the grand opening of the Portland Mercado, this Saturday, April 11th, at 7238 SE Foster Road, in Portland, Oregon. The Portland Mercado, a public market that will serve as a hub for up to 20 businesses, at least 90% of which are expected to be owned and operated by Latino entrepreneurs, will provide goods and services for low-income, immigrant families. With the opening of the Portland Mercado, Hacienda CDC will be able to provide a place to incubate these small and …
Raza Development Fund & LISC pledge $30 million to spur transit-oriented development in low-income communities
PHOENIX (August 21, 2015)— Just days before the opening of the Central Mesa extension of the light rail, two local nonprofits have announced $30 million in funding to attract new housing and businesses to low-income communities along key transit corridors. U.S. Transportation Secretary Anthony Foxx joined Phoenix Mayor Greg Stanton, Mesa Mayor John Giles and Tempe Vice Mayor Corey Woods to help launch the transit-oriented development (TOD) program—a joint effort of the Local Initiatives Support Corporation (LISC) and Raza Development Fund (RDF). LISC and RDF drive programs to help revitalize disadvantaged communities. Both have a decades-long focus that has poured …