Welcome to 2 New Investors: Dignity Health and HSBC Bank
Florida Community Loan Fund, FCLF, provides flexible capital and technical expertise to help projects succeed in low-income communities throughout Florida. The organization relies on the support of many – financial institutions, nonprofits, foundations, religious organizations, and others – to help us achieve our mission. We welcome to this group of supporters 2 new socially responsible investors who will help us create positive impact in Florida communities.
In 2015, Dignity Health joined FCLF as a supporter through a loan capital investment. We welcome Dignity Health, a provider of healthcare services and advocate for health in all communities, and FCLF’s first investor from the healthcare industry. To learn why Dignity Health considered an investment in Florida Community Loan Fund, we spoke with Leslie Watson, Analyst, Community Investments & International Health, who said:
“We consider FCLF an outstanding example of the kind of organization Dignity Health likes to partner with in helping to fulfill their mission – an organization that has proven its impact especially in areas of providing affordable housing and revitalizing blighted or low-income urban/rural areas, and has worked hard to involve community members in the sustainability of its operations.”
HSBC Bank USA, N.A. came on board in 2015 as an FCLF investor. With a focus on South Florida, HSBC Bank has a dedicated Community Development Department that works closely with community organizations, such as Florida Community Loan Fund, to make communities better places to live and work.
Kathleen Rizzo Young, Sr. VP of Community Development, said: “HSBC Bank is committed to community development and seeks to partner with impactful organizations that understand the needs of their communities and consistently deliver strong results – both in terms of social outcomes and financial performance. We are thrilled to be working with Florida Community Loan Fund and supporting their work, specifically in the South Florida market. Florida Community Loan Fund has a keen knowledge of the challenges and opportunities in this region and we are confident that HSBC's capital will be used to develop important projects that will improve the lives of low-income people.”
As reported in an email in February 2015, FCLF is on track for another high performing fiscal year of helping nonprofit projects throughout Florida achieve success. As of March 2015 FCLF has grown our loan capital to $57 million, an increase of more than 50% in the past year. Investors and supporters, such as Dignity Health and HSBC Bank, have helped us reach this level of capital, where together we can provide opportunity and dignity for every person and community in Florida.
Pictured: Mathis Place, an affordable apartment complex in South Florida. Developed by Neighborhood Renaissance with financing provided by Florida Community Loan Fund.
About the Florida Community Loan Fund. FCLF provides flexible capital and expertise to improve economic and social conditions in urban and rural communities. Since its first loan in 1996, FCLF has managed more than $210 million in financing and has leveraged an additional $475 million in loans and grants from various public and private sources for those projects. As a lending institution, FCLF's borrowers include non-profits and for-profit mission-focused developers, housing authorities, a wide range of social service organizations, and community health service providers. Investors and supporters of FCLF include financial institutions, corporations, foundations, religious investors, and federal and state government. FCLF is certified both as a Community Development Financial Institution and a Community Development Entity, and is a member of Opportunity Finance Network.
