A grant from the Truist Community Catalyst Initiative will support flexible financing in low-income communities.
Florida Community Loan Fund is pleased to announce it received a grant from the Truist Community Catalyst Initiative – a three-year program supporting local efforts with statewide impact funded by the Truist Charitable Fund, a donor-advised fund administered by The Winston-Salem Foundation. FCLF will use the $500,000 grant to support its loan programs that offer more flexible financing options for affordable housing and to increase the organization’s capacity.
“The Truist Community Catalyst Initiative grant will amplify FCLF’s ability to maximize opportunities for low-income Floridians,” said Ignacio Esteban, FCLF CEO. “The innovative, flexible features offered through our loan programs will create safe, affordable housing and help strengthen communities.”
“As Florida’s population grows, the need for affordable housing continues to be an issue that needs our full attention,” said Truist Regional President Steve Fisher. “We believe this grant, along with the ongoing efforts of the Florida Community Loan Fund, will help fulfill our purpose to inspire and build better lives and communities.”
This grant is one of 17 grants across 13 states that will create significant impact across Truist’s primary markets, including placing over 1,000 individuals into livable wage jobs, developing or preserving 700 affordable housing units, deploying $65 million in loan capital through 500 small business and home loans, and providing 3,100 low- to moderate-income individuals with new access to essential community services. Learn more about how Truist is inspiring and building better lives in FCLF’s community and beyond at Truist.com/purpose/community.
For almost 30 years, Florida Community Loan Fund financing has encouraged development of affordable housing and community service facilities in low-income communities across Florida by providing financing with more flexible loan terms and affordable interest rates. This financing is made possible by our partnerships with investors such as Truist Bank and Truist Foundation. Truist has been a long-standing investor and supporter of Florida Community Loan Fund, and this grant not only supports FCLF’s core community development lending programs, but also provides expanded capacity to increase the number of affordable rental housing units in Florida through FCLF’s Capital Magnet Fund program.
At FCLF, our core purpose is to maximize opportunities for people and places outside of the economic mainstream. From day-to-day operations to multi-year endeavors, this mission focuses and guides our leadership to pursue projects, funding opportunities, strategic directions, new initiatives, and organizational endeavors that further our goal of creating a more equitable Florida. Every loan we make fulfills our mission by providing resources to help local nonprofit and mission-based for-profit organizations succeed and create high impact within low-income communities. FCLF has provided financing for affordable housing projects around the state, including:
- Colonnade Park, 106 affordable rental homes in Inverness
- Saint Stephen’s Way, 40 affordable and supportive housing units in Melbourne
- Gardens of Homestead, 233 affordable rental homes in Homestead
About Florida Community Loan Fund. Florida Community Loan Fund is a nonprofit, multifaceted financing entity with a 29-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.
About the Truist Charitable Fund. The Truist Charitable Fund ("TCF") is committed to Truist Financial Corporation's (NYSE: TFC) purpose to inspire and build better lives. TCF was established as a donor-advised fund and is administered by The Winston-Salem Foundation. TCF invests in local community organizations, focusing on grants that support initiatives and programs in the areas of educational equity, leadership development, career pathways, small business, and community services. To learn more about Truist's purpose, visit https://www.truist.com/who-we-are/about-truist
Contacts:
Janet de Guehery, Florida Community Loan Fund, This email address is being protected from spambots. You need JavaScript enabled to view it.
Kristen Fraser, Truist, This email address is being protected from spambots. You need JavaScript enabled to view it.
