FCLF Secures $30 Million in Bond Funding

02 October 2017

Florida Community Loan Fund (FCLF), a statewide source of flexible financing for community and economic development, will receive $30 million in bond funding as part of the U.S. Department of Treasury’s CDFI Bond Guarantee Program (BGP). FCLF is one of eight Community Development Financial Institutions (CDFIs) that participated in a $145 million bond issued to Opportunity Finance Network (OFN), and the first in Florida to secure BGP funding.

FCLF will use the bond proceeds to finance affordable rental housing and commercial real estate projects throughout Florida low-income communities. “This long-term capital will be a significant resource for our borrowers, providing stable and predictable financing to address the critical needs across Florida for housing and social services,” said FCLF CEO Ignacio Esteban.

A total of $245 million in bonds were issued by the U.S. Department of Treasury in 2017. Enacted as part of the Small Business Jobs Act of 2010, the BGP is an innovative federal credit program that offers credit-worthy certified CDFIs access to affordable long-term capital. Administered by the CDFI Fund at the Department of Treasury and designed to operate at no cost to taxpayers, the BGP brings highly qualified CDFIs long-term, low-cost capital to finance community and economic development in low-income or underserved rural areas.


FCLF BGP Award 2017About Florida Community Loan Fund. Florida Community Loan Fund is a nonprofit, multifaceted financing entity with a 20+ year history of providing flexible capital and expertise to low income communities 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. To date, FCLF has financed over $300 million into projects totaling nearly $912 million, including affordable housing and community facilities that provide social services, such as food access, healthcare, homeless services, and education.

Media Contact: Janet de Guehery, This email address is being protected from spambots. You need JavaScript enabled to view it., 407.246.0846

View the press release online.

"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

"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

"Thank you to our friends at FCLF. Your staff has been patient and helpful. We'll make you proud!" – Bill Lazar, Executive Director

St. Johns Housing Partnership

"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

"FCLF demonstrates a mission-oriented philosophy that is compatible and supportive, broadens our platform and deepens our portfolio of products and services." – Kent Adcock, CEO

Habitat for Humanity of Lake-Sumter

“Thanks to FCLF we’re able to provide brand-new safe, affordable homes for 90 families in a sustainable mixed-use, mixed-income community." – Mitchell Rosenstein, Founder & Principal

Green Mills Group

"FCLF is a difference maker! Their team provides solutions to bring about real change in a community." – Tim Marks, President & CEO

Metropolitan Ministries

"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

"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 look forward to continuing our successful relationship with FCLF and working together to meet the needs of our communities." – Nancy Merolla, VP/CRA Officer

Florida Community Bank

"Our partnership with FCLF helps the American Dream of homeownership come true." – Michael Roberts, Exec Dir

R.E.A.C.H.

"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

"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 addresses local community needs, which aligns with our core values. We appreciate your commitment to our communities.” – Mellissa Slover-Athey, Comm Reinv Ofcr

CenterState Bank

"When nobody else would take a chance on us, FCLF did. Woodlawn is thriving today and we will always be grateful for your part in that.." – PeterTollefson, Dean of Students

Woodlawn Community Academy

"Our relationship with FCLF provides the capital to achieve long-lasting impact." – Terri Murray, Exec Dir

Neighborhood Renaissance

"Aida Palms will be a lasting asset to the City of Lakeland. This revitalization wouldn't be possible without financing partners like FCLF." – Mitchell Rosenstein, Principal, Green Mills Group

Aida Palms

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

JPMorgan Chase Foundation

"We couldn't achieve our mission of creating strong neighborhoods without FCLF's help. Their staff is always friendly, quick to respond, and efficient." – Bonnye Deese, Executive Director

BAND

"I appreciate FCLF for lending in rural areas, where many other lenders are exiting. From the first moment we spoke with FCLF staff, we felt we had a partner." – Jamie Kerr, President, AMCS Dev.

Griffin Heights

Our Partners

Neighbor Up, Affordable Housing
Neighbor Up, formerly BNDC, offers affordable housing in Brevard County.
BNDC Greater Heights
Greater Heights offers new, safe, affordable rental homes in what was formerly a high crime area.
FCLF at Florida Housing Conference
FCLF staff are active at statewide conferences and events.
Neighbor Up and FCLF
FCLF Chief Lending Officer visits with the Executive Director of Neighbor Up (formerly BNDC)
Boys & Girls Clubs of Manatee
FCLF and NMTC are creating a new facility for the Boys & Girls Clubs of Manatee County
Emma Jewel Academy and FCLF
Emma Jewel Charter Academy offers education for the whole child in Brevard County.
Haley Park Construction
FCLF projects create jobs and stimulate development in low-income communities.
FCLF and Florida Housing Coalition
FCLF representatives are ready to talk about your project success.
FCLF Board and Staff
FCLF Board Members represent our investors, borrowers, and technical experts.
RCRI Conference 2012
The RCRI Conference allows FCLF staff to touch base with our religious supporters.
TD Charitable Foundation, TD Bank
TD Charitable Foundation and TD Bank have supported FCLF's mission since 2006.
Northern Trust Roundtable
FCLF supporter, the Northern Trust Company, hosted a housing roundtable in Sarasota.
Armature Works
FCLF and the NMTC Program renovated a historic building into a small business incubaor.
KIPP Jacksonville
Rep. Ander Crenshaw visited KIPP Jacksonville School
duPont Fund and FCLF
The duPont Fund used FCLF and NMTC Financing to revitalize downtown Jacksonville.
FLACDC Conference
FCLF Staff meet and greet friends at an FLACDC event.
ASPIRA of Florida and FCLF
FCLF CEO and one of our supporters visit the ASPIRA Arts Deco school.
Housing Programs, Inc.
FCLF financing to Housing Programs, Inc. helps provide affordable homes for ownership.
Valley Bank
Support from Valley Bank helps FCLF build strong communities.
Emma Jewel Charter Academy
Nutritious snacks are a part of the healthy focused curriculum at Emma Jewel Charter Academy.
FCLF at Florida Housing Conference
FCLF Staff are on hand at conferences and events to discuss our programs.
Metro Min Grand Opening
FCLF staff with local supporters at Metropolitan Ministries Tampa.
TD Bank Charitable Foundation
Support from TD Bank Charitable Foundation helps FCLF build strong communities.
Million Meals 2012
FCLF staff and supporters volunteer at Million Meals event.
DuPuis Pointe Miami
DuPuis Pointe offers affordable, hurricane proof homes in Miami.
Axiom Bank
Support from Axiom Bank helps FCLF build strong communities.
Greater Heights Resident
FCLF Financing to Neighbor Up Brevard helps provide affordable rental housing.
FCLF and Rep. Webster
Rep. Daniel Webster visited FCLF staff.
Boys & Girls Clubs of Manatee
FCLF staff and US Legislative staff at an event honoring Youth of the Year.
Casa San Juan Bosco and FCLF
New rental homes are available for farmworker families at Casa San Juan Bosco.
MTZ Carver Construction
FCLF projects create jobs and stimulate development in low-income communities.
Casa San Juan Bosco and FCLF
Catholic Charities, Diocese of Venice, financed the land for farmworker rental housing with FCLF.
Mathis Place Resident
Residents at Neighborhood Renaissance's Mathis Place enjoy affordable rent.
ASPIRA of Florida Aspirantes
ASPIRA of Florida offers education & mentoring with a focus on low-income and Latino students.
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Core Purpose FCLF exists to maximize opportunities for people and places outside of the economic mainstream.
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.