Rural Nevada Development Corporation (RNDC) is a 501(C) 3 non-profit development corporation formed in January 1992 to serve the fifteen (15) rural counties, rural Clark and Washoe counties, and the twenty-seven (27) Native American tribes of Nevada. RNDC has been responsive to the needs of rural homeowner rehabilitation and small business alternative lending practices and has received certification from the Department of Treasury as a Community Development Financial Institution (CDFI). In 2004, RNDC expanded its services into rural Clark County, and in April of 2006 programs became available in rural Washoe County. As part of the general allocations of the Housing and Lending Program dollars, RNDC has the capability of funding programs on or off sovereign lands to members of federally recognized tribes.
Small Business Lending
RNDC has established significant loan capital, which it lends to small businesses in need of expansion or start-up financing in the target areas mentioned above. RNDC has obtained nearly 11 million by various funding sources such as USDA-Rural Development, The Economic Development Administration, Small Business Administration, Charles Schwab Bank, Nevada State Bank, and RNDC funds as well. The Board of Directors has targeted the use of the funds for businesses in need of expansion financing, fixed assets, purchases, working capital, and start-up businesses. The RNDC loan funds significantly address the capital gap for rural businesses, and leverage bank participation in rural business loans.