$1 million on the street:’ With UofM grant, River City Capital helps businesses in underserved areas

Franklin is one of many Memphis business owners who have received a loan from RCC, the local Community Development Financial Institution (CDFI) that’s an affiliate of Community Lift and certified by the U.S. Department of Treasury. Founded in 2011, RCC focuses on providing low-interest loans to businesses in underserved neighborhoods throughout the Mid-South — its average loan size is about $50,000. And the organization has made some recent moves to further fuel its growth.