Awards will support investment in economic growth in Florida’s low-income communities.
Florida Community Loan Fund, a statewide lending institution focused on creating high impact in Florida communities, has received $2.6 million in awards from the U.S. Department of the Treasury’s Community Development Financial Institution Fund (CDFI Fund). The financial awards will allow FCLF to continue to lead capital into Florida communities that are outside of the economic mainstream by providing flexible financing and staff expertise.
Florida Community Loan Fund’s award, the largest combined amount to a Florida organization, is one of 302 totaling $202.2 million to CDFIs nationwide. FCLF is one of only 5 organizations to receive awards in all 3 available categories:
- $700,000 Financial Assistance (FA) award will allow us to move forward with strategic investments in peer CDFI organizations in Florida.
- $1.5 million Healthy Food Financing Initiative (HFFI) award will expand our focus on availability of fresh, healthy foods for all Floridians, through retail, wholesale distribution outlets, and farmers’ markets.
- $400,000 Disability Funding award will provide financing for development of housing and facilities that benefit individuals with disabilities.
“These awards from the CDFI fund show continued confidence in FCLF – our execution of lending programs and our outstanding performance creating high social impact,” said Ignacio Esteban, FCLF CEO.
“The FY 2018 CDFI Program and NACA Program awardees will provide vital financial services and lending to low-income communities nationwide,” said CDFI Fund Director Annie Donovan.
Since inception, Florida Community Loan Fund has received 14 FA, 3 HFFI, and 1 Disability Funding CDFI awards. FCLF has financed $353 million through 328 loans, making possible over $980 million in new investments in low-income communities by combining these CDFI Fund award proceeds with capital from financial institutions, religious organizations, foundations, and other sources.