Raza Development Fund (RDF) is a 501 (c) 3 non-profit corporation and a registered Community Development Financial Institution (CDFI) under the United States Department of the Treasury. Established in 1999 as a 509 (a) 3 support corporation, RDF provides National Council of La Raza affiliates (over 300 organizations) and other Latino-serving organizations access to capital to serve the human development needs of the growing national Latino diaspora to all regions of the U.S. RDF is the largest Latino CDFI, with $214,323,000 under management. Since inception, RDF has provided 380 loans to 230 Latino serving organizations nationwide. These organizations have received technical assistance and loans approaching $400 million, which have helped leverage nearly $3.88 billion in private capital for education, childcare, affordable housing and healthcare projects serving low-income families and individuals. Major products include pre-development, land, construction & bridge, mini-perm & term, operating lines of credit and enterprise loans, tenant improvement, guidance LOCs, business & equipment, and NMTC leveraged loans. 97% of all RDF transactions are located in SMAs. The current loss rate is .99% of total loans originated. RDF was accepted as a member of the Federal Home Loan Bank of San Francisco in 2014 with an advance limit of $30 million and recently closed its first transaction under a $100m commitment from the CDFI Bond Guarantee Program. RDF’s current market goal is to replace expiring unsecured lending commitments with a significant increase in unsecured, pleadgeable debt to cover origination activities ineligible under the FHLB and the Treasury programs with the goal of providing a full compendium of lending products –which now includes long term, collateral-based financing options.
Tom Espinoza, Chief Executive Officer
Housing Partnership Network
One Washington Mall, 12th Floor
Boston, MA 02108
Phone: 617-720-1999 / Fax: 617-720-3939
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