Regions Foundation and Florida Community Loan Fund: Supporting businesses impacted by COVID-19

04 May 2020

Regions Foundation and FCLFFlorida Community Loan Fund is working with Florida nonprofits and mission-focused organizations during the COVID-19 pandemic to ensure they can continue to provide services to people and places outside of the economic mainstream. FCLF is offering loan relief and special emergency assistance to our current borrowers, and helping Florida nonprofits with their Paycheck Protection Program loan applications through the SBA. This COVID-19 relief and assistance is made possible by support from many, including Regions Foundation.

Below is the text from Regions Foundation’s announcement. The full update can be viewed here.


Regions Foundation Announces Grants for Branches and Florida Community Loan Fund in Support of COVID-19 Response
Branches and FCLF are serving businesses impacted by the coronavirus.

By Jeremy King

BIRMINGHAM, Ala. – April 30, 2020 – The Regions Foundation on Thursday announced the latest in a series of grants to support nonprofit organizations that are helping small businesses impacted by COVID-19. The Regions Foundation is a nonprofit initiative of Regions Bank that supports community investments.

Two nonprofits in Florida are among those receiving grants in this latest installment:Regions Foundation supports Branches and Florida Community Loan Fund

  • Branches: A nonprofit focused on helping working families and their children break the cycle of generational poverty, Miami-based Branches is using a virtual coaching model to help micro businesses facing financial challenges due to the virus. This is in addition to student services and financial wellness opportunities sustained by Branches amid the pandemic. Branches is receiving a $40,000 grant from the Regions Foundation.
  • Florida Community Loan Fund: Florida Community Loan Fund is a nonprofit, multifaceted financing entity with a 25-year history of providing flexible capital and expertise to nonprofits and mission-aligned for-profits serving people and places outside the economic mainstream across Florida. FCLF is nationally recognized for its work as a certified Community Development Financial Institution (CDFI) and Community Development Entity (CDE) through the U.S. Dept. of Treasury and as a member of the Federal Home Loan Bank of Atlanta. FCLF is receiving a $55,000 grant from the Regions Foundation.

“With so many newly unemployed in our community due to the COVID-19 pandemic, small businesses are struggling to make ends meet as revenue has plummeted in so many industries and sectors,” said Brent McLaughlin, Executive Director of Branches. “The Regions Foundation grant will enable us to provide technical assistance and offer critical grants to help hundreds of small businesses navigate these uncertain times.”

“During the COVID-19 pandemic, FCLF is committed to helping hundreds of organizations statewide rise to the challenge of serving those outside of the economic mainstream,” added Ignacio Esteban, FCLF CEO. “The grant from the Regions Foundation allows us to continue to provide critically needed capital to nonprofit and mission-focused for-profit borrowing organizations as they provide housing and essential social services to those who need it most.”

“Nonprofits such as Branches and FCLF are providing vital assistance to small businesses to help them through this extremely difficult time,” said Marta Self, Executive Director of the Regions Foundation. “The Regions Foundation is proud to support this work as part of our commitment to help communities during this crisis, and we will continue to identify more avenues for community support as we move forward.”

The grants announced by the Regions Foundation on Thursday are in addition to grants announced on April 24 for several Community Development Financial Institutions. The Foundation also announced recently that it will match donations by Regions Bank associates to United Way organizations and Community Foundations responding to COVID-19 needs.

Also, Regions Bank has issued financial support to a variety of additional nonprofits, and the bank recently donated a series of advertisements to food banks as well. Through that donation, advertisements originally purchased by Regions to promote bank services were instead given to food banks to encourage viewers and readers to financially support food bank services during the crisis.

Separately, Regions Bank continues to offer a series of options for customers suffering financial impacts from COVID-19. Additional information on Regions Bank resources can be found at www.regions.com/coronavirus.

About Regions Foundation. Regions Foundation supports community investments that positively impact the communities served by Regions Bank. The Foundation engages in a grantmaking program focused on priorities including economic and community development; education and workforce readiness; and financial wellness. The Foundation is a nonprofit 501(c)(3) corporation funded primarily through contributions from Regions Bank.

About Regions Financial Corporation. Regions Financial Corporation (NYSE:RF), with $133 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,400 banking offices and 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

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Green Mills Group

"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

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

Neighborhood Renaissance

"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

“The partnership with FCLF is very exciting for us – an essential component in providing greater access to fresh healthy food in downtown New Port Richey.” – Jeff Wright, Owner

Wright's Natural Market

"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

"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

"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 cannot thank FCLF enough for this partnership, creating permanent housing for our neighbors in need, and their commitment to Florida communities.” – Shannon Nazworth, President & CEO

Ability Housing

"Without FCLF's support, we would not have been able to deliver the services our area so desperately needs. We look forward to a lifetime relationship." – Tom Griffin, CEO

The Transition House, Inc.

"I recommend FCLF for attracting investment to the Florida Preservation Fund... I believe that says something about investor comfort." – Nancy Muller, Policy Director

Florida Housing Finance Corp.

"FCLF has a keen knowledge of Florida challenges & opportunities. We are confident our investment will be used to improve lives." – Kathleen Rizzo Young, Sr. VP, Community Development

HSBC Bank USA, N.A.

"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

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Camillus House

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Sister Mary Heyser, RSHM

"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

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“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

"We appreciate the accomplishments your organization attains." - Robert Sucher, Executive VP

Sabadell United Bank

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

R.E.A.C.H.

Our Partners

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FCLF and Rep. Webster
Rep. Daniel Webster visited FCLF staff.
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Catholic Charities, Diocese of Venice, financed the land for farmworker rental housing with FCLF.
TD Charitable Foundation, TD Bank
TD Charitable Foundation and TD Bank have supported FCLF's mission since 2006.
RCRI Conference 2012
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FCLF Board Members represent our investors, borrowers, and technical experts.
FCLF at Florida Housing Conference
FCLF staff are active at statewide conferences and events.
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FCLF representatives are ready to talk about your project success.
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Greater Heights Resident
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FCLF supporter, the Northern Trust Company, hosted a housing roundtable in Sarasota.
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FLACDC Conference
FCLF Staff meet and greet friends at an FLACDC event.
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Valley Bank
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KIPP Jacksonville
Rep. Ander Crenshaw visited KIPP Jacksonville School
Metro Min Grand Opening
FCLF staff with local supporters at Metropolitan Ministries Tampa.
ASPIRA of Florida and FCLF
FCLF CEO and one of our supporters visit the ASPIRA Arts Deco school.
Casa San Juan Bosco and FCLF
New rental homes are available for farmworker families at Casa San Juan Bosco.
TD Bank Charitable Foundation
Support from TD Bank Charitable Foundation helps FCLF build strong communities.
Haley Park Construction
FCLF projects create jobs and stimulate development in low-income communities.
FCLF at Florida Housing Conference
FCLF Staff are on hand at conferences and events to discuss our programs.
DuPuis Pointe Miami
DuPuis Pointe offers affordable, hurricane proof homes in Miami.
Million Meals 2012
FCLF staff and supporters volunteer at Million Meals event.
ASPIRA of Florida Aspirantes
ASPIRA of Florida offers education & mentoring with a focus on low-income and Latino students.
Boys & Girls Clubs of Manatee
FCLF staff and US Legislative staff at an event honoring Youth of the Year.
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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.