Florida Community Loan Fund is pleased to announce receipt of a $1.8 million award from the Community Development Financial Institutions Fund Rapid Response Program. FCLF’s is one of 31 awards to Florida CDFIs – to Loan Funds and Credit Unions – totaling in excess of $44 million statewide. Nationally, the CDFI Fund awarded $1.25 billion to 863 CDFIs through the RRP. This represents the single largest investment by the Federal government into CDFIs nationally and in Florida.
The U.S. Department of Treasury’s CDFI Fund RRP awards were announced on June 15, 2021, by Vice President Kamala Harris at the White House. The RRP awards will provide necessary capital for CDFIs to respond to economic challenges created by the COVID-19 pandemic, particularly in underserved communities.
FCLF’s financing for Florida’s low-income communities helps nonprofits and mission-focused for-profit businesses maximize opportunities for people and places outside the economic mainstream. The RRP funds will support, strengthen, and expand the reach of our current lending programs.
We are committed to continuing to lead capital into Florida’s low-income communities and offer financial flexibility to FCLF borrowers with the funds provided through the RRP award.
View the CDFI Fund Rapid Response Program announcement: https://www.cdfifund.gov/news/420