About Us
Who we are and what we do for our community
LENDING FOR COMMUNITY
Mission Driven Lending
What is mission driven lending?
Provides financing, education and counseling to support businesses with limited access to traditional credit.
Supports job creation in low-income and underbanked communities.
A solid partner in affordable housing initiatives.
Creates a community win-win and opportunity for all small businesses.
OUR MISSION
RVCDF is a self-sustaining, community-controlled financial institution that preserves and strengthens cultural diversity, long-term livability, and economic opportunity for Rainier Valley residents, businesses, and institutions.
MISSION
The Rainier Valley Community Development Fund is a self-sustaining, community-controlled financial institution that preserves and strengthens cultural diversity, long-term livability, and economic opportunity for Rainier Valley residents, businesses, and institutions.
VISION
To create communities that are thriving and economically resilient, where all members have access to financial resources and opportunities for growth.
OUR VALUES
Access
Capital should not be limited to those who already have wealth or perfect credit. We work to expand opportunity for entrepreneurs who are often overlooked by traditional systems.
Community
Local businesses are the backbone of neighborhoods. Our work protects the businesses that create jobs, culture, and economic stability.
Partnership
We are not just a lender. We work alongside entrepreneurs with guidance, resources, and support beyond the loan.
Responsibility
We practice fair and responsible lending that protects both borrowers and the long-term health of the communities we serve.
Impact
Our success is measured by the strength of the businesses and neighborhoods that grow because of our work.
Our History
RVCDF was founded in 2002 to manage a $50 million trust from the City of Seattle and Sound Transit, supporting businesses impacted by light rail construction, a job training program for local residents, and ongoing business and real estate lending. That early investment paid off: an 85% survival rate for mitigated businesses, 76 residents placed in construction jobs, and a $25 million loan portfolio built to support Rainier Valley's economic growth.
Since exhausting its original funding, RVCDF has kept those dollars working by revolving repaid loans back into the community, and has been fully self-sustaining on loan interest since 2016 — no longer reliant on grants.
1999
In response to community outcry organized by Save Our Valley over the disruption, displacement and community impact of an at-grade light rail project, the Sound Transit Board approved a $50 million transit-oriented community development fund (Fund) available to the Rainier Valley community to fund physical and economic improvements in the Central Link light rail corridor. The resolution called for the establishment of a community advisory panel to administer the Fund.
2000
A steering committee was formed comprising of ten Rainier Valley community members and five Seattle, Sound Transit and King County representatives with the purpose of proposing a detailed operating plan for the Fund.
2002
An operating plan was completed and approved by the Sound Transit Board and Seattle City Council, establishing a $21.5 million Supplemental Mitigation Account (SMA) to support businesses that were impacted by the light rail construction, $2 million for a job training program, and the remainder was appropriated for a Community Development Program (CDP) to create a self-sustaining, community-controlled fund that supports business and community development in Rainier Valley. Both the SMA and CDP are to benefit the residents, businesses and institutions of Southeast Seattle that will increase transit ridership within the geographic boundaries of the Fund. By September, the steering committee was dissolved and Rainier Valley Community Development Fund (RVCDF) was incorporated as a non-profit organization to implement and manage the programs created by the Fund.
2003
First SMA program payment was paid in June to provide mitigation expenses to businesses disrupted by the light rail construction.
2004
The Pre-Apprenticeship program began in November 2004 to provide Rainier Valley residents with job readiness training.
2005
The operating plan was amended to target two lines of business for the CDP: 25% of the funds for business development to encourage small business formation, strengthen existing businesses, and promote job creation; and 75% for real estate development to encourage new catalyst development and physical improvements to Rainier Valley—including both new construction and rehabilitation of existing buildings—to stimulate economic activity, increase commercial inventory, and promote affordable housing for Rainier Valley residents.
2006
The first CDP loan was funded for $1.1 million for the acquisition of a site for redevelopment.
2008
RVCDF staff organized a group of business owners in the MLK business district and formed the MLK Business Association to promote the businesses along the MLK corridor with a vision to foster a culturally diverse business community as a destination in the Pacific Northwest. Later in September, RVCDF and MLK Business Association, in cooperation with Sound Transit and the City of Seattle Department of Transportation and Department of Neighborhoods, organized the MLK Safety Street Fair to promote safety awareness when riding the light rail and to shop the diverse businesses along MLK. The fair was attended by over 3,000 people.
2009
The SMA program was completed, disbursing $15.2 million to 183 businesses impacted by the light rail construction from 2003 to 2009. That same year, RVCDF was bestowed the Audrey Nelson Community Development Achievement Award by the National Community Development Association in recognition of the exemplary and innovative use of the Community Development Block Grant funds to address the needs of low and moderate income families, homes and neighborhoods.
2010
The Pre-Apprenticeship program, funded by an $855,600 grant, concluded in mid-2010 with 68 residents completing vocational training and 76 residents placed in construction or construction-related jobs. Over 90% of program participants were ethnic minorities and women.
2012
Former Seattle City Council member and interim RVCDF executive director Richard McIver was honored at the RVCDF 10th annual meeting for his leadership in establishing RVCDF and as an advocate for serving the diverse population of Southeast Seattle. His determination resulted in the $50 million fund that benefited the Rainier Valley community and its businesses during the construction of the light rail project, and continues to support the businesses with RVCDF’s revolving loan fund.
2014
RVCDF becomes self-sustaining. Interest and fee revenue from its outstanding loan portfolio of $21.5 million has reached a level that adequately covers the costs of program and administration operations.
2016
The remaining CDP funds appropriated to the Fund was disbursed, culminating in a total of $25.6 million of original capital for 36 loans to 31 businesses and non-profit organizations during the period from 2006 to 2016.
2017
RVCDF was certified by the Community Development Financial Institution (CDFI) Fund, a program of the US Treasury Department, opening opportunities to apply for grant and loan funds from the CDFI and other capital sources. In September, The CDFI Fund awards $776,500 to RVCDF to increase its volume of financing to a greater geographic area in southeast Seattle and support increased diversification.
2018
Wells Fargo awards $1 million of lending capital under its Diverse Community Capital program to RVCDF to serve small businesses in low income diverse neighborhoods with limited access to capital.
2019
The organization completes a strategic plan for years 2019 to 2024, affirming its vision, mission and values. The plan identifies 18 strategies and an implementation schedule and metrics for each strategy. Approximately $25 million revolved from the original trust assets will continue to be committed in the Rainier Valley and new capital will be used to expand the investment area to Beacon Hill and the area north of the I-90 light rail station under construction.
2020
RVCDF Awards $250,000 in COVID-19 grants as part of a partnership with J.P. Morgan Chase to 57 Southeast Seattle businesses to address the immediate economic challenges resulting from the COVID-19 global pandemic.
2023
RVCDF deploys 27 loans worth $5,432,000 in 2023. As a direct result of the loans, 96 new jobs were created. 81.5% of those were loans to minority owned businesses, and 1 in 3 of those loans were women-owned businesses.
2024
RVCDF honored as part of the City of Seattle’s selection for the U.S. Department of Housing and Urban Development’s Community Development Block Grant (CDBG)’s 50th Anniversary Award. RVCDF was spotlighted for our transformative role in promoting equitable development in Southeast Seattle.
2025
RVCDF celebrates grand opening of new offices in Mt Baker
