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Success Stories from FCLF Partners

Orange Blossom Family Health

With NMTC financing, Orange Blossom Family Health will build a clinic at Ivey Lane to serve 5,000 low income and homeless annually.

Boys & Girls Clubs of Manatee County

With NMTC financing Boys & Girls Clubs of Manatee County will build a new facility to reach low-income children in Bradenton. FCLF provided NMTC allocation.

Wholesome Community Ministries

Wholesome Community Ministries is purchasing a facility with financing from FCLF and will include day care, healthcare, and more.

Borrowing from FCLF

Borrower Showcase 2018
Learn more about putting our expertise and capital to work to help your project succeed.

Investing in FCLF

Yellow home 2018
Learn more about investing in Florida's communities, with high impact results from economic development.

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CDF: Community Development Fund

Loans made through the Community Development Fund have a direct impact on low- and moderate-income communities throughout the state of Florida. CDF Financing includes projects such as:

  • Affordable Housing (single and multifamily, for ownership or rent)
  • Supportive Housing
  • Community Facilities
  • Economic Development Projects

Florida Community Loan Fund (FCLF) offers flexible terms, which in most cases can be tailored to fit your project. In some cases, we can provide technical assistance as well, either through our staff or one of our partners.

Affordable Single Family Home Meet our Borrowers and see the impact we have across Florida

Still have questions? Scroll down and read our FAQs for FCLF Lending.

If you think your organization may be able to benefit from FCLF's CDF Financing, read more information about our Application Process or Contact Us.

 

This institution is an equal opportunity provider.

 

FAQs for FCLF Lending

What do I need to know before I apply? Non-profit and for profit organizations must meet FCLF’s mission and purpose tests. The application stops if the tests are not met.

Does FCLF take grant requests? FCLF does not issue grants, it makes loans to nonprofit organization and mission-focused for-profit entities to improve low- and moderate-income communities. From time to time there may be equity conversion available at the end of a loan term; Loan Officers will address this on a case by case basis.

Does FCLF make loans like a bank? Florida Community Loan Fund underwrites much like a bank in that it requires a complete financial picture of organization; project financial statements; and a complete understanding of all sources & uses of funds. FCLF looks for cash flow to repay its loans. However, FCLF also looks at things a bank does not - experience and reputation in the community count and social impact is important. FCLF may consider non-traditional collateral. FCLF considers more flexible loan structure. FCLF’s rates and fees are typically comparable to bank rates for similar loans.

How much can I borrow and what at what rate? The maximum loan available for a single loan is currently $3 million. (Larger loan sizes may be available for real-estate secured projects and through partnership lending.) Rates are fixed and range from 4.25% to 5.75%. Lower interest rates may be available for projects built to a certified green standard.

Do you require collateral? What collateral is acceptable? Collateral is required. FCLF does not make unsecured loans. Most projects financed by FCLF Fund have real estate as collateral. Loan-to-value (LTV) will vary based on collateral type, but is typically in the 70% to 85% range.

How long does a loan approval take? The answer is highly variable depending on a number of factors. The FCLF Lending Committee generally meets monthly to review loan applications. However, the decision to bring a loan request to our Lending Committee rests with the Loan Officers and may require that the Borrower submit additional or revised information. This can sometimes cause delays in the approval process. The number of applications in process may also affect timing. For more information, click here and read about the Application Process.

What are the next steps if my application is approved? Once a loan is approved, a commitment letter is usually issued within 2-3 days. Simple closings can be done within 2 weeks after receipt of a signed commitment letter. Complex closings usually take longer, especially if attorneys are needed.

What is the purpose of the Commitment Letter? To outline the terms and conditions under which the Florida Community Loan Fund will lend and to create a checklist for closing the loan.

"Cade Museum is proud to be partners with FCLF and JPMorgan Chase. Thanks to the NMTC Program, we will provide a transformative asset to our community." – Jennifer Denault, COO

Cade Museum for Creativity & Inventi…

"The Fathers Table Foundation appreciates the services FCLF provides and the impact on the communities you serve. We believe in your organization and your mission." – Dan Gilardi, President

Fathers Table Foundation

"FCLF shows a clear strategy and demonstrated evidence of addressing prevalent community needs." – J. Reymundo Ocañas, Director, Corp Responsibility

BBVA Compass

"Without FCLF's support, we would not have been able to deliver the services our area so desperately needs. We look forward to a lifetime relationship." – Tom Griffin, CEO

The Transition House, Inc.

"We are delighted to partner with you to serve those most in need in our communities." – Eileen S. Coogan, President & CEO

Allegany Franciscan Ministries

"We couldn’t have pulled this project together without FCLF as partners. This is the start of great work in Jacksonville’s historic Springfield district." – Kevin Gay, Exec. Director

Operation New Hope

"FCLF plays a significant role in sustaining vibrant and thriving communities. We are pleased to support your ongoing community based efforts." – Ernie Diaz, South Florida Market President

TD Charitable Foundation

"It is really working. FCLF is really touching low-income people." – Florida Community Loan Fund Founding Board Member

Sister Mary Heyser, RSHM

"We commend the important work of your organization, are glad to support its efforts." – Beverly Dabney

JPMorgan Chase Foundation

"Our partnership with FCLF will allow us to build an attractive, state of the art facility that patients, staff, and community will be proud of." – Bakari Burns, President-CEO

Orange Blossom Family Health

"We couldn't achieve our mission of creating strong neighborhoods without FCLF's help. Their staff is always friendly, quick to respond, and efficient." – Bonnye Deese, Executive Director

BAND

"I appreciate FCLF for lending in rural areas, where many other lenders are exiting. From the first moment we spoke with FCLF staff, we felt we had a partner." – Jamie Kerr, President, AMCS Dev.

Griffin Heights

"FCLF understands and is a part of what we are doing: helping families have the American dream of owning a home." – Isaac Simhon, Executive Director

Housing Programs, Inc.

"We're thrilled to partner with FCLF to make our project a reality to serve generations of kids in our community." – Dawn Stanhope, President & CEO

Boys & Girls Clubs of Manatee County

"FCLF staff shares our vision and commitment to serve needy families and provide a high quality education to all children." – Thomas Cole, Founder

Emma Jewel Charter Academy

"Without the FCLF initial loan to purchase land, we might not have been able to move forward with farmworker housing." – Peter Routsis-Arroyo, CEO, Catholic Charities, Diocese of Venice

Casa San Juan Bosco

"BankUnited understands the challenges facing our communities; we applaud FCLF's efforts. Thank you for making our community a better place to live." – Katrina Wright, VP Comm. Dev.

BankUnited

"Trinity Health is happy to partner with FCLF. We look forward to seeing the impact in the communities you serve." – Sr. Kathleen Coll, SSJ, Administrator, Shareholder Advocacy

Trinity Health

"FCLF has a keen knowledge of Florida challenges & opportunities. We are confident our investment will be used to improve lives." – Kathleen Rizzo Young, Sr. VP, Community Development

HSBC Bank USA, N.A.

"We look forward to continuing our successful relationship with FCLF and working together to meet the needs of our communities." – Nancy Merolla, VP/CRA Officer

Florida Community Bank

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Our Vision Opportunity and dignity exist for every person and community in Florida.
Our Mission Our expertise and capital make projects successful and help organizations improve lives and communities.