The two organizations recently announced a $1 million loan to Self-Help Enterprises, Inc., as part of an effort to alleviate drought conditions in the San Joaquin Valley. The funds will be used to provide low-income residents with drought relief supplies including water tanks and delivery systems.
The funds originated from a 2015 COIN CDFI Tax Credit Program award from the California Department of Insurance to Pacific Western Bank. The partnership with Rural LISC will use the COIN tax credits through a below-market investment. Self-Help Enterprises, Inc., will receive the below market rate loan to support its ongoing work to supply low-income families with safe drinking water in the drought-ravaged valley.