Outcomes & Impact

With the process and capital stack complete, the following outcomes were achieved:

• 33 units preserved for low-income seniors and families.
• Rental assistance continued for vulnerable residents.
• Improved living conditions with critical upgrades.
• No displacement—residents remained onsite during construction.
• Model for rural preservation: Demonstrated how CDFIs, nonprofits, and legal advocates can collaborate to protect affordable housing.

The post CASE STUDY: Preserving Affordable Housing at Golden Eagle II appeared first on Partners for Rural Transformation.

Introduction

The pride, hope, and resolve of local leaders in Pine Bluff, Arkansas, are profound and inspiring. Pine Bluff is a small town of just over 41,000 people in rural America, sitting on a history of rich cultural depth that local leaders know well, with the majority of the population identifying as Black. Building on their collective need for affordable housing, they organized and partnered to create WE Build, a program to create more affordable, quality homes in their community that make homeownership—a wealth-building tool available to low-income families. As they build the houses and the future they want for their families and community, the investment opportunity is glaring; the same reality is true for scores of rural communities nationwide. 

PRT has listened to experts in and of these places and invested in their priorities and assets. Through deep collaboration, RWJF and Heron support PRT to advance rural development that builds on local leadership, empowers communities, and strengthens local economies. We hope others will, too. 

Who is PRT?

The Partners for Rural Transformation (PRT) are a coalition of six community organizations working to launch economic development innovations to deploy capital at scale across rural America.

Rural Places: An Under-Recognized Opportunity for Philanthropic Impact

Want to have a transformational impact in our nation’s most marginalized places and actually make a difference in the lives of the people who live there? Rural regions of persistent poverty offer fertile ground, and it’s time for philanthropy to recognize and capitalize on the opportunity. For example, PRT launched a bold and audacious $1B fund to ensure capital flows into rural places facing persistent poverty toward a vision of persistent opportunity in these places. In just five years, the fund has exceeded its goal – to the tune of $2.5B. These funds help the Partners build deeper relationships in communities facing the deepest disinvestment and create lasting impact through direct investment in those places. Through its six Partners, PRT leverages eight private dollars from every public dollar invested, multiplying it for a more significant impact at scale. This helps make almost 30,000 housing units available in rural Appalachia, and similar stories in multitudes of places across our nation’s poorest communities. These fundamental elements of infrastructure, which most of us take for granted, create the foundation for thriving people and communities.

Why Rural?

Rural communities form the backbone of our nation, supplying us with food (90% of agricultural production), energy, natural resources (83% of zero-emission clean energy), and so much more.

A Role for Philanthropy in Rural Development

PRT built on their decades of work, deep relationships and trust, and transformative success in their respective regions of persistent poverty to develop a Rural Funding Guide, which they vetted and evolved with input from on-the-ground rural development practitioners in their regions. The Guide provides a roadmap for how capital should look and move to achieve effective and sustainable rural development. It describes eight practices to ensure that investments are responsive to rural communities’ local priorities and driven by local leadership and solutions.

Eight (8) Practices of Effective Rural Development Investment

• Put Community Voice First
• Build Community Adaptability
• Increase Flexible Funding
• Grow Grant Capital
• Provide Multi-Year Support
• Make Capital Easier to Access
• Support Regional Approaches
• Form Trusted Place-Based Relationships

PRT calls on philanthropy to follow these practices in partnership with local and regional organizations and existing efforts to build and strengthen investment systems that create durable, meaningful impact. We’ve seen this in action when 13.5 acres were secured for affordable housing in Pescadero, California (via RCAC), using public and philanthropic investment together.

Calling for Generative Collaboration Between Philanthropy and Practitioners

No single effort can solve rural communities’ complex challenges, but catalytic action and transformative progress are possible through partnerships between funders and rural development practitioners. The practices above have been pivotal in enhancing the impact of our investments on rural communities.

PRT provides an unmatched opportunity for national funders to, through a single entry-point, be in relationship with a set of regional organizations located in, and serving, the most persistent poverty places in rural America. Farah Ahmad, PRT’s President, reflects that “what sets RWJF’s and Heron’s funding apart is its patient, multi-year operating funds that enabled PRT to grow, adapt, and refine solutions to meet the priorities of the communities they serve. PRT built a trusting relationship with the two funders, learning together on multi-day site visits and engaging in generative dialogue together over time.”

Conclusion

Rural America’s stories are of leaders who rise to meet challenges with courage and visionary collaborations, like the Partners for Rural Transformation, who see the promise of persistent opportunity for future generations. PRT is calling us all to a new standard for philanthropy—centering flexible capital and funding community-led solutions. We must now listen, adapt, and invest in deep partnerships with patience and purpose.

The post BLOG: A FUNDER’S PERSPECTIVE | HOW TO INVEST WITH RURAL appeared first on Partners for Rural Transformation.

For centuries, rural America has fueled our nation’s economy, powering agriculture, energy, and innovation, yet systemic disinvestment has left too many communities behind. Despite their vital contributions, some rural regions combat persistent poverty, exclusion from decision-making, and a stark lack of investment compared to urban centers. But change is possible.

Introducing the Rural Funding Guide—a groundbreaking roadmap crafted by the Partners for Rural Transformation (PRT). Drawing from the real-world insights of rural practitioners, the Rural Funding Guide contains eight actionable practices to transform and inform how public and private funders invest in rural prosperity. From equitable systems to strong local partnerships, these strategies ensure funding reaches the communities that need it most—and works the way rural leaders know best.

The time to reinvest in rural America is now. Discover how funders, policymakers, and advocates can shift the tide. Read the Guide and join the movement for equitable rural investment.

The research and local voices that informed the Guide can be found here.

The post Unlocking Rural Prosperity: The Rural Funding Guide is Here appeared first on Partners for Rural Transformation.

The Hidden Crisis: When the Land of Plenty Runs Dry

Rural localities are facing higher levels of food insecurity. The US’s overall food insecurity rate was 10.9% in 2019, but 12.5% in rural areas. 87% of the nation’s food-insecure counties are rural counties. Food deserts aren’t just empty shelves—they’re entire communities cut off from nourishment. These are communities with people living miles from the nearest grocery store, with only gas station snacks or fast food to feed themselves. In rural America,

• Lack of financing: Rural areas often lack traditional banks, and small farmers often do not fit conventional lending criteria.
• Lack of support: Remote locations, limited access to markets, lack of potable water for growing crops, rigid public funding uses, and several other factors contribute to farmers’ barriers to successfully scaling to larger markets while still serving local.
• Lack of opportunity: Little to no access to beneficial agricultural programs restricts rural farmers, especially farmers of color, leaving their expertise out of larger media stories about themselves.

Yet, where there’s hardship, there’s also hope.

Investing in our People: A New Recipe for Rural Economies

Rural-serving CDFIs can provide the flexible financial assistance that rural communities require and deserve. This funding goes hand in hand with the diversification of approaches that these communities express a need for—loans for farmers’ unique needs, the creation of grocery stores, the establishment of local farmers’ markets, and more.

The CDFI Fund, a federal agency that provides critical seed capital to CDFIs to serve their communities, collects data that makes CDFIs’ work and impact more transparent while also allowing CDFIs to leverage the funds from the CDFI Fund. CDFIs leverage, on average, $8 from private funders for every single public dollar, cementing the importance of the CDFI Fund to rural community development.

The CDFI Fund plays an important role in increasing access to healthy foods, which has been launched through the Healthy Food Financing Initiative. Between 2019 and 2021, the HFFI awarded 162 healthy food programs, 73 of which were rural. These rural grantees reported being able to lower grocery prices, impart nutritionist guidance for food programs, and further develop local farms (buying seeds, purchasing machinery, hiring labor, etc.). The CDFI Fund and rural-serving CDFIs are uniquely positioned to provide these services for rural Americans nationwide. And PRT is no different.

What Works Best: Funding the Food Solutions

The maps of the country’s poverty rate and the prevalence of food insecurity are nearly identical. We are comprised of six community organizations that understand that food fuels our bodies and our national and rural economies. Collectively, we create and support services addressing food provision and farm funding across rural America.

Hoopa Valley Tribe Creates Local Grocery Store through CDFI Support

Hoopa Valley, California’s natural landscape is rich with flowing rivers, dense forest, and teeming with fish and game. Yet, the Valley’s residents, for years, lived in a food desert. The nearest grocery store was just 12 miles away, but poor roadways and lack of public transportation eliminated access—Until PRT Partner Rural Community Assistance Corporation (RCAC) stepped in. In March 2019, the Hoopa Valley Tribe opened its first grocery store within walking distance of several of the Tribe’s neighborhoods and businesses. The grocery store was made possible through an innovative capital stack:

• $4.2 million loan from the local Arcata Economic Development Corporation*
• $1.5 million investment from the Hoopa Tribe
• $1.4 million participation loan from RCAC*
• $1.4 million loan from the Northern California Community Loan Fund*

The three CDFI lenders* joined forces to give the Tribal residents access to healthy, affordable foods and a shopping center that would offer services like cooking and Tai Chi classes. The Hoopa Tribe held, emphasizing the importance of community voice and the power of choice.

 Small Family Farm Gets a Lifeline from Rural CDFI

Another story of overcoming food insecurity was unfolding around 2,400 miles east in Turell, Arkansas. Ollie and Chloe Cox’s family-owned Mator Farms needed help. They began with just four acres of land, scaled up to seven acres, but then hit a roadblock when cash flow issues made it hard to keep up with growing demand. PRT Partner Communities Unlimited (CU)’s Lending and Healthy Foods teams were then on the scene. Chloe heard CU’s Candence Brooks speak at a small business symposium and knew that the rural CDFI was the right choice for them. In typical CDFI fashion, CU developed a loan for the Coxes, which then led to the creation of their Small Farm Lending Program (funded by the Sachs Foundation), designed to meet the needs of other small farmers across the other six states they serve.

“It’s a pool of money we can use for micro farmers—those who can’t necessarily go to the bank to get funding. Sometimes, farmers have unique challenges where they may not have the revenue or cash flow traditional loans require. Being able to offer this program helps fill that gap.”

— Candence Brooks, Economic Development Loan Officer at Communities Unlimited

The Coxes used their loan for labor support and new equipment, but their real joy was being able to continue to grow for their community. Their harvests support local food banks and schools, showing the importance of funding for rural farmers individually and how investment in them benefits entire communities and regions. Rural-serving CDFIs, like small farmers, go to creative lengths to provide for their communities. The opportunities to invest in projects like these exist across rural America.

CDFIs, like RCAC and CU, redefine expectations about rural investment. Instead of leaning on collateral, they lean on trust. Instead of focusing on credit scores, they focus on community impact. The need to invest in food and farmers is an undeniable must for rural-serving CDFIs, especially for PRT. Somewhere in rural America, a farmer plants seeds purchased with a loan that nobody else but a rural CDFI would provide. A grandmother is able to buy her grandchild clothes and toys from her veggies’ profits, being at her local farmer’s market, funded by The CDFI Fund’s Healthy Food Financing Initiative. This is how real change grows – from the seeds of innovative investment and a belief in better livelihoods. And hope, across rural America, is being harvested.

The post Food, Farmers, and Funding: How Rural CDFIs are Feeding America appeared first on Partners for Rural Transformation.

Imagine a small business owner in rural Mississippi finally securing a loan to expand her grocery store after being turned down by traditional banks. Or a family in Appalachia purchasing their first home thanks to an affordable mortgage program. These stories of economic resilience are made possible by Community Development Financial Institutions (CDFIs) — mission-driven institutions dedicated to revitalizing underserved communities. 

CDFIs are financial institutions with a shared mission: expanding economic opportunity and revitalizing communities. Unlike traditional banks, they prioritize people over profits, offering a vast array of financially accessible products including, but not limited to: 

• Affordable loans and credit for small businesses 

• Mortgages for first-time homebuyers 

• Financing for community projects (health clinics, schools, affordable housing) 

Whether it’s a credit union in the Bronx, a loan fund in Native American tribal lands, or a rural community bank, CDFIs fill gaps left by mainstream finance. 

In the 1880s, when the first minority-owned banks focused on low-income neighborhoods, communities self-organized to provide the financial services needed. Predecessors to the formal CDFI — community banks, credit unions, community development corporations, and nonprofit loan funds — all sought to improve economic conditions in financially underserved markets.  

The Community Development Financial Institutions Fund (the CDFI Fund), a federal agency, was established in 1994 via the Riegle Community Development and Regulatory Improvement Act to support these emerging community development financial institutions. The CDFI Fund promotes economic revitalization in low-income communities by investing in and assisting CDFIs, catalyzing private banks to invest in community development. The CDFI Fund provides critical capital to CDFIs — and for every public dollar it provides, CDFIs can incentivize the private sector to invest $8 toward community projects [1]. Additionally, CDFIs also serve as gap financers alongside grants and other types of capital, playing a critical role in projects actually crossing the finish line. Since 1994, the CDFI Fund has granted over $8 billion and provided $81 billion in tax credits [2], planting the seed for strong local economies that can scale community-driven economic development solutions in rural America. Since its inception, the Fund has deployed billions of dollars into economically distressed regions, generating public-private partnerships that drive meaningful change.

Today, CDFIs represent a robust sector in the financial services industry. There are over 1,300 CDFIs in the United States, of which 115 are rural-serving CDFIs. Rural communities face unique challenges, from higher poverty rates to aging populations to shifting industries. Rural CDFIs intervene with innovative capital solutions designed to meet their communities’ needs. These CDFIs are treasured across the country; in some areas, they are one, if not the only, entity providing financial services.  

CDFIs, particularly rural-serving CDFIs, know that place matters. Although 85% of this country’s land mass is rural and rural America makes up 14% of the population, economic opportunities for rural America can be scarce [3]. CDFIs’ intervention is key; in 2020 alone, they originated an estimated $5.9 billion in financing.  

When rural-serving CDFIs are supported, the lives of millions of rural families and business owners nationwide are improved. The Partners for Rural Transformation (PRT) is a coalition of six community organizations working to launch economic development innovations to deploy capital in rural America across the country. PRT accomplishes this through its track record of $2.5b in investment to our regions, millions of rural Americans served, building trust through tangible solutions, and implementing innovations at scale.  

Serving 78% of rural persistent poverty counties means we know the importance of mobilizing capital in rural areas and sustaining rural CDFIs that work in and serve these regions. CDFIs continue to serve as experts in community development, complex blended financing, and service providers, all of which are specialized and have technical skills. Now, more than ever, it is crucial that financial and public support for rural CDFIs and the CDFI Fund be maintained and increased to serve millions of rural communities across our country.  

Follow PRT for more information on how to contribute to our mission and help rural CDFIs continue to prosper.  

[1] Source – Opportunity Finance Network

[2] Source – U.S. Dept. of Treasury

[3] Source – Opportunity Finance Network

The post BLOG: A Guide to CDFIs, Rural CDFIs, and the CDFI Fund appeared first on Partners for Rural Transformation.

Read our full statement here and share to show your support!

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“As we continue our commitment to fostering economic resilience for underserved entrepreneurs, this partnership with Partners for Rural Transformation is an important step toward expanding access to capital, resources, and policy support for rural small business owners,” said Natalie Madeira Cofield, President & CEO of AEO. “By leveraging our combined expertise, we can create meaningful pathways to success for businesses that are often overlooked yet vital to local economies.” 

Through this partnership, AEO and PRT will collaborate on economic development initiatives that empower rural entrepreneurs, engage in joint advocacy efforts, conduct research to inform policy development, host events and public forums, and conduct research to inform policy development. 

“Rural communities are essential to our nation’s economic future, yet persistent poverty and systemic barriers continue to limit opportunities for entrepreneurs in these regions,” said Farah Ahmad, President of Partners for Rural Transformation. “This collaboration with AEO strengthens our mission to drive equitable access to capital, support business development, and uplift rural economies.” 

As part of this agreement, AEO and PRT will integrate financial and technical assistance programs, promote business health assessment tools, and elevate awareness of rural small businesses’ unique challenges and opportunities. The partnership will also engage key stakeholders, policymakers, and industry leaders to advance solutions that promote economic sustainability in rural America. 

About Partners for Rural Transformation (PRT) 

PRT is a coalition of six community organizations working to launch economic development innovations to achieve socioeconomic equity in rural America. Through advocacy, capital access, and strategic partnerships, PRT empowers rural entrepreneurs and strengthens local economies. 

About the Association for Enterprise Opportunity (AEO) 

Founded in 1991, AEO is a national nonprofit organization dedicated to supporting small and microbusinesses, particularly those in underserved communities. AEO provides resources, research, and advocacy to drive inclusive economic growth and empower entrepreneurs. 

The post PRT & AEO Announce Partnership to Support Rural Small Businesses appeared first on Partners for Rural Transformation.

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Our End of Year Message is here, and it’s packed with stories and updates you won’t want to miss:

Impact Narratives: Be inspired by the work done in 2024 from our amazing Partners, National Partners, and Regional Partners.

???? Everything Else: Stories of Rural America (Volume II): Explore the latest addition to our Story Map and uncover the journeys shaping our communities – and the real rural narrative.

???? A Big Announcement: Want to know more about how PRT works? Now you can – meet SWIFT.

???? A Glimpse into 2025: Get ready for what’s next on the horizon.

This is more than just a reflection—it’s a celebration of you and the shared work that’s transforming the lives of our rural neighbors and communities.

Thank you for being a part of this journey. Together, we’re shaping the future.

????Read PRT’s 2024 End of Year Message Now

The post PRT’s 2024 End of Year Message is Live – NOW! appeared first on Partners for Rural Transformation.

Former Deputy Under Secretary for Rural Development at USDA

Berea, KENTUCKY, November 13, 2024—Partners for Rural Transformation (PRT), a coalition of six Community Development Financial Institutions (CDFIs) serving persistently poor and rural communities, is excited to announce the appointment of Farah Ahmad as the organization’s new President, following a national search process.

Ahmad brings a wealth of experience from her distinguished career at the U.S. Department of Agriculture (USDA), where she most recently served as the Deputy Under Secretary for Rural Development. She joins PRT with a commitment to expand the organization’s reach to advance economic growth in rural communities nationwide.

In her new role, Ahmad will provide leadership as she strengthens PRT’s partnerships and enhances the group’s influence and impact. She will pursue government, philanthropic, and financial industry partners on behalf of PRT.

She will build on fifteen years of experience at developing federal, state, and local policy solutions and leading high-profile, place-based economic development and financial resiliency initiatives. In addition to a series of leadership roles at the USDA, Ahmad has worked at the White House National Economic Council and the Consumer Financial Protection Bureau. Ahmad started her career in nonprofit organizations focused on workforce and economic development at the local level.

The PRT Steering Committee, comprised of the CEOs from come dream. come build, Communities Unlimited, Fahe, Hope Enterprise Corporation, Oweesta, and RCAC, were impressed by Ahmad’s clear vision and deep-rooted dedication to the equitable growth of rural America. Ahmad has worked on a variety of issues in rural communities, including housing, water, energy, and broadband. She has traveled extensively to rural and Native communities through her roles at USDA.

“Farah has impressed me with her deep commitment to drive change from deep disadvantage to persistent opportunity,” said Fahe CEO Jim King. “Her background and experience will help to lead PRT to advocate for more capital and to build awareness of the needs of rural places.” Fahe, a CDFI and network of community development nonprofits serving central Appalachia, is the fiduciary for PRT.

“As a member of the PRT steering committee, I am honored to have Farah represent PRT as our President,” said RCAC CEO Suzanne Anarde-Devenport. “Her passion, vision and leadership are exemplary and will be a tremendous asset for PRT as we navigate a strategy for our pathway forward. I am truly excited to learn from Farah while supporting her in this critical role within our nation, serving rural and Indigenous persistent poverty communities.

With Farah Ahmad at the helm of the organization, PRT will continue its mission of fostering economic inclusion, expanding programs and projects by the Partners, and ultimately eradicating persistent poverty in rural America.

About Partners for Rural Transformation

Partners for Rural Transformation (“PRT”) envisions a country without generational poverty. Led by six Community Development Financial Institutions serving 78% of the country’s persistent poverty areas (PPAs), PRT strengthens local economies and builds power for the millions of people across the US living in rural communities designated as persistently poor.

Despite inequitable access to federal, private, and philanthropic capital, the Partners have built successful programs enabling people and places to thrive, such as steady employment opportunities, responsible financial resources, quality affordable housing, disaster recovery, and sustainable water systems.

About Fahe

Fahe brings people, organizations, and resources together to build homes, communities, and a thriving Appalachia through expanding economic opportunity and security for all. Fahe Members work together to influence policy, philanthropy, and systems change in the region. www.fahe.org

Media Contact:

Essence Smith, Senior Manager Communications & Partnerships

Partners for Rural Transformation

essence@pfrt.org.

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