The award allows FCLF to continue maximizing opportunities in Florida.
Florida Community Loan Fund, a statewide nonprofit creating high community impact through financing, has been awarded $852,000 by the U.S. Department of Treasury Community Development Financial Institutions (CDFI) Fund.
As a statewide CDFI, Florida Community Loan Fund serves the 3rd most populated state in the U.S. In Florida, 16% of all households live in poverty, 32% are considered working poor – unable to afford basic necessities – and 2.8 million residents live with a disability. FCLF recently unveiled a strategic plan that will directly impact underserved populations through deployment of $365 million in financing through 2024. The CDFI Fund Award will assist FCLF in achieving its strategic goals and help the organization strengthen Florida’s communities by leading capital into low-income areas.
“Many Floridians struggle to secure affordable housing and lack adequate access to quality social services. The CDFI Fund award allows us to continue maximizing opportunities for people and places that are outside of the economic mainstream.” – Ignacio Esteban, FCLF CEO
FCLF’s affordable and patient capital finances housing and community facilities targeting Florida’s most vulnerable. Examples of FCLF-financed high-impact projects include:
- Silver Creek - 81 affordable rental apartments and retail space to stimulate economic development in Miami.
- Spinal Cord Living Assistance Development - accessible, affordable apartments with supportive services in Miami.
- Evans Center - a fresh food grocery, healthcare clinic, and community meeting space in Brevard County.