Rural Nevada Development Corporation

Name

Rural Nevada Development Corporation

Legal name

Rural Nevada Development Corporation

Website

https://rndcnv.org

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Community Development Financial Services

NAICS

Services for the Elderly and Persons with Disabilities (62412), Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly (6233), Business, Professional, Labor, Political, and Similar Organizations (8139)

SIC

Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Rural, Tribal & Special-Population Housing Programs (FSALAKAL)

akta.pro secondary industries

Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC), Microenterprise Group Lending (Joint Liability) (FSAKAGAH)

Keywords

• Rural community development
• Small business lending
• Affordable housing assistance
• Down payment assistance
• Weatherization services

Headquarters

HQ city

Ely

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Others

Revenue model

1. Small Business Lending Interest: RNDC generates revenue through interest on small business loans ranging from $500 to $250,000 with fixed interest rates between 6% to 12%. The organization has established significant loan capital through various funding sources.
2. I-80 Fund Loans: The I-80 Fund provides small business loans from $5,000 to $250,000 with a fixed interest rate of 2% that increases to 3.75% after two years. Revenue generated through interest on these loans.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Rural Nevada Development Corporation (RNDC) is a non-profit 501(c)(3) Community Development Financial Institution providing small business loans ($500 to $250,000) and affordable housing programs (down payment assistance, homeowner rehabilitation, weatherization) to residents of fifteen rural counties, rural portions of Clark and Washoe counties, and twenty-seven Native American tribes in Nevada. The organization also operates multi-family affordable housing properties including John Marvel Senior Village and Wells Golden Village.

Product overview

Rural Nevada Development Corporation (RNDC) is a non-profit 501(c)(3) Community Development Financial Institution (CDFI) offering a comprehensive portfolio of financial and housing services to rural Nevada communities. The organization operates two primary service lines: Business Services (Small Business Lending and I-80 Fund) providing loans from $500 to $250,000 for business expansion, startups, and working capital; and Housing Services (Down Payment Assistance, Homeowner Rehabilitation, and Weatherization) helping low-income residents access safe, affordable housing and reduce utility costs. RNDC also operates Multi-Family housing properties including John Marvel Senior Village and Wells Golden Village. The organization was founded in January 1992 and serves 15 rural counties, rural portions of Clark and Washoe counties, and 27 Native American tribes across Nevada.

Differentiator

Problem solved

Functional benefit

Brands

• I-80 Fund: Small business loan program established in partnership with Nevada Gold Mines providing loans from $5,000 to $250,000 at 2% fixed interest rate (increasing to 3.75% after two years) for eligible businesses in Humboldt, Lander, Eureka, and Elko counties along the Nevada I-80 corridor.

Products and services

• Small Business Lending Provides loan capital to small businesses for expansion, startup financing, fixed assets, working capital, and business purchases in rural Nevada and Native American tribal areas. Loans range from $500 to $250,000 with interest rates of 6-12% and terms up to 20 years. A 2% loan packaging fee applies with a $100 non-refundable fee at application.
• I-80 Fund Specialized small business loan program established in partnership with Nevada Gold Mines providing low-interest loans ranging from $5,000 to $250,000 at a fixed 2% interest rate (increasing to 3.75% after two years) for eligible businesses along the Nevada I-80 corridor in Humboldt, Lander, Eureka, and Elko counties.
• Down Payment Assistance Deferred loan program assisting low-income, first-time homebuyers with down payment and eligible closing costs for residential properties meeting HUD Housing Quality Standards. Offers up to $30,000 through HOME Funds or $25,000 through Home Means Nevada Initiative (HMNI), forgiven after 3-10 years if home remains primary residence. No interest accrual during the affordability period.
• Homeowner Rehabilitation Assists low-income homeowners with repairs addressing health and safety issues, energy conservation measures, and handicap accessibility needs. Funded through Nevada Housing Division Home Means Nevada Initiative (HMNI) with a 3-year forgivable lien.
• Weatherization Assistance Program Free program helping low-income persons reduce utility bills through energy conservation measures including insulation, duct sealing, window/door replacement, water heater improvements, heating/cooling system repairs, and health/safety measures. Funded primarily by U.S. Department of Energy through State of Nevada Housing Division.
• John Marvel Senior Village Affordable 1-bedroom senior/disabled housing apartments offering 748 square feet of living space with bedroom, bathroom, living room, dining room, kitchen with microwave, and washer/dryer. Located in rural Nevada with a waiting list.
• Wells Golden Village Affordable 1-bedroom apartment community providing spacious housing options in rural Nevada.

Quantifiable outcome

• Down payment assistance lien forgiven after 5 years if home remains primary residence
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles8 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and major.

• Governor's Office of Economic DevelopmentcoreStrategic or Co-development PartnerState-level economic development partner supporting RNDC's mission to foster economic growth in rural Nevada communities.
• Nevada Housing DivisioncoreStrategic or Co-development PartnerNevada Housing Division partners with RNDC to provide down payment assistance programs (HOME Funds and Home Means Nevada Initiative) and weatherization funding.
• Nevada Small Business Development CentermajorStrategic or Co-development PartnerState partner providing small business development resources and referrals to RNDC's lending programs.
• Inter-Tribal Council of NevadacoreStrategic or Co-development PartnerPartner representing Nevada's 27 Native American tribes, connecting tribal communities with RNDC's business lending and housing services.
• Nevada State Development CorporationmajorStrategic or Co-development PartnerState development corporation partner supporting economic development initiatives and small business financing in Nevada.
• State & Local GovernmentsmajorStrategic or Co-development PartnerVarious state and local government entities collaborate with RNDC on economic development initiatives.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Fahe (Federation of Appalachian Housing Enterprises): A CDFI network providing affordable housing finance, weatherization, and small business lending in distressed rural regions. Comparable to RNDC in mission, multi-state rural focus, and integrated housing + lending + weatherization service stack.
• Nevada State Development Corporation: Nevada's statewide 504 CDC lending partner and a documented state-level collaborator with RNDC on small business financing. Operates a similar CDFI-aligned SBA lending model in Nevada, making it the closest peer on mission, geography, and product.
• Coastal Enterprises, Inc. (CEI): A Maine-based CDFI offering small business lending, housing development, and energy/weatherization programs in underserved rural areas. Closely mirrors RNDC's integrated lending-and-housing model as a community development lender.
• Rural Community Assistance Corporation (RCAC): A multi-state CDFI serving rural and tribal communities across the Western U.S. with small business lending, housing, and infrastructure financing — a near-identical operating model to RNDC but at broader geographic scale.

Broad incumbents

• Opportunity Finance Network (OFN): The national CDFI trade association of which RNDC is effectively an institutional peer member. OFN represents the broader CDFI ecosystem that RNDC operates within, including BEA/FA award distribution and policy advocacy.
• NeighborWorks America: A national network of more than 250 affordable housing and community development nonprofits. NeighborWorks affiliates replicate RNDC's affordable housing, rehabilitation, and down payment assistance programming at scale and represent a model of how RNDC could federate.

Emerging players

• Low Income Investment Fund (LIIF): A CDFI focused on community development lending for housing, child care, and community facilities in low-income areas. Comparable to RNDC in serving distressed populations but with a different sector mix (less weatherization, more facilities lending).

Others

• SBA Nevada District Office: Federal partner administering SBA 504, 7(a), and Microloan programs that overlap with RNDC's small business lending — including through SBA Microloan Intermediary relationships that mirror RNDC's role.
• USDA Rural Development — Nevada Office: RNDC's principal capital partner; operates B&I Loan Guarantees, Rural Business Development Grants, and housing programs that compete with and complement RNDC's small business and housing lending across rural Nevada.

Regional players

• Affordable Housing Partnership (AHP) — Nevada: Nevada-focused affordable housing intermediaries administering HOME Funds, down payment assistance, and homeownership counseling that complement RNDC's down payment assistance and homeowner rehabilitation products in the state.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/rndc

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rural Nevada Development Corporation