Award from U.S. Treasury CDFI Fund will finance community development in Florida
Florida Community Loan Fund, a statewide nonprofit lending institution, announced a $1.1 million financial assistance award from the U.S. Treasury Dept. Community Development Institutions (CDFI) Fund.
FCLF received the largest FA award in Florida – the organization’s 7th consecutive award under the core CDFI Fund program. The CDFI Fund award will allow FCLF to offer innovative financing to nonprofits and smaller for-profit entities developing affordable housing. A portion of the funds will help finance projects that provide housing or other services for Floridians with disabilities. Nationally, 244 CDFIs won awards totaling $180.3 million.
“The CDFI Fund award will allow us to equip organizations that develop affordable housing with better and more flexible financing options to make their projects successful,” said CEO Ignacio Esteban. “This award will make it possible for FCLF to continue to address the unique affordable housing development needs in the South Florida market.”
FCLF has a well known reputation of providing patient, affordable capital for community and economic development throughout Florida, creating a high social impact. To date, FCLF has delivered $494 million in financing into projects totaling $1.3 billion.
About Florida Community Loan Fund. Florida Community Loan Fund is a nonprofit, multifaceted financing entity with a 25-year history of providing flexible capital and expertise to nonprofit and mission-aligned for-profit entities that benefit people and places outside the economic mainstream across Florida. FCLF is nationally recognized for its work as a certified CDFI and CDE through the U.S. Dept. of Treasury and as a member of the Federal Home Loan Bank of Atlanta. www.fclf.org.