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Success Stories from FCLF Partners

Common Ground CDC

Common Ground CDC provides art instruction and activities for all ages in a Florida low-income community.

H.O.M.E.S., Inc.

H.O.M.E.S., Inc. provides single family affordable homes and helps improve neighborhoods in Broward County.

Wayne Densch Center

Wayne Densch Center, an Ability Housing project, will provide affordable housing for formerly homeless; financed in part by FCLF. 

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.

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

Sister Mary Heyser, RSHM

"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

"I recommend FCLF for attracting investment to the Florida Preservation Fund... I believe that says something about investor comfort." – Nancy Muller, Policy Director

Florida Housing Finance Corp.

"We consider FCLF a valued partner and strong advocates for low-income communities and families. We look forward to many more years of working together." – Jennifer Westerbeck, Vice President

US Bancorp CDC

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

JPMorgan Chase Foundation

"FCLF made it possible for us to provide many special needs and low-income students with the educational services that they need." – Charlotte Tollefson, Director & Founder

Woodlawn Community Academy

"Thanks to FCLF, we are one step closer to providing a permanent housing solution for veterans and others seeking quality housing at an affordable price." – Carrie Davis, Executive Director

Wealth Watchers

"FCLF has proven its community impact and hard work. We are proud to partner with FCLF." – Leslie Watson, Analyst, Community Investments

Dignity Health

"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 appreciate the accomplishments your organization attains." - Robert Sucher, Executive VP

Sabadell United Bank

"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

"FCLF understood our context, embraced the project vision, and were willing to make an investment that others deemed as too risky." – Lynn Brockwell-Carey, Executive Director

Brevard Neighborhood Development Coaliti…

"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 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

“We cannot thank FCLF enough for this partnership, creating permanent housing for our neighbors in need, and their commitment to Florida communities.” – Shannon Nazworth, President & CEO

Ability Housing

"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

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

Allegany Franciscan Ministries

“The partnership with FCLF is very exciting for us – an essential component in providing greater access to fresh healthy food in downtown New Port Richey.” – Jeff Wright, Owner

Wright's Natural Market

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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.