JPMorgan Chase and FCLF, October 2019

"During this unprecedented time, it is critically important for Floridians to have access to affordable housing and essential needs." - Mel Martinez, JPMorgan Chase, Chairman of the Southeast U.S. and Latin America

JPMorgan Chase and JPMorgan Chase Foundation have partnered with Florida Community Loan Fund since 1998, providing operating support, equity grants, and investments to extend the reach of affordable housing in Florida's low-income areas. For example:

  • FCLF COVID-19 Emergency Loan Program. JPMorgan Chase Foundation provided a grant that will help FCLF borrowers with financial options in the wake of loss of business due to COVID-19. (See detailed announcement below.)
  • PRO Neighborhoods Award. JPMorgan Chase awarded the PRO Neighborhoods Grant to Florida Community Loan Fund and New Jersey Community Capital to increase affordable housing in Central Florida.
  • South Florida Housing Link. JPMorgan Chase invested in a collaboration of five South Florida nonprofit organizations to improve access to affordable housing.

At FCLF, we exist to maximize opportunities for people and places outside of the economic mainstream. With partners like JPMorgan Chase, we can continue to reach underserved populations and strengthen communities across Florida.

Pictured above: South Florida Housing Link award announcement on October 30, 2019, at the Black Archives Historic Lyric Theater in the Overtown area of Miami. Photo courtesy of JPMorgan Chase.

Below is an announcement from JPMorgan Chase on their May 2020 support of FCLF and community development in Florida. 


JPMorgan Chase Commits $400,000 to the Florida Community Loan Fund to Support Affordable Housing and Provide Essential Needs for Florida Residents during COVID-19

JPMorgan Chase is making a $400,000 philanthropic investment in the Florida Community Loan Fund (FCLF) to help provide a financial buffer for nonprofit affordable housing providers supporting single-family and multi-family housing homeownership and rental properties during the COVID-19 pandemic. The funds will also help provide essential needs – including food access, healthcare and community facilities – for those living in Florida communities most vulnerable to loss of income.

FCLF quickly developed a working capital emergency loan program for its borrowers affected by COVID-19. The program offers low-cost, flexible emergency working capital to nonprofit and mission-focused for-profit FCLF borrowers and is one of several tools FCLF has developed to ensure community development organizations can expand services and stabilize as they respond to the crisis.

“Florida’s service sector dependent economy has been hit hard by COVID-19. Our focus during the pandemic has been to help support and stabilize the community development sector in our state,” said Ignacio Esteban, FCLF CEO. “We are deeply thankful to JPMorgan Chase, and to dozens of other partners, for supporting our efforts during these times.”

The investment from JPMorgan Chase is part of the firm’s $250 million philanthropic and business commitment to address the immediate and long-term challenges of the COVID-19 crisis. This week alone, the firm is deploying $35 million in new philanthropic investments in communities across the U.S. and around the world, with a focus on communities of color and vulnerable populations globally, to help them access much-needed financial and technical resources during the crisis and prevent the opportunity gap from widening as the economy begins to recover.

“During this unprecedented time, it is critically important for Floridians to have access to affordable housing and essential needs,” said Mel Martinez, Chairman of the Southeast U.S. and Latin America for JPMorgan Chase. “We are making immediate investments to help those most affected by humanitarian challenges and looking into sustainable and innovative solutions to help small businesses and underserved communities recover with the crisis subsides.”

According to the JPMorgan Chase Institute, 65 percent of families don’t have the cash buffer to weather a simultaneous income dip and spike in expenditure like the one resulting from the COVID-19 crisis. Median Black and Hispanic families earn roughly 70 cents in take-home income for every dollar earned by White families. Racial gaps in liquid assets are twice as large. 50 percent of small businesses in the U.S. have less than 15 cash buffer days, meaning many small businesses are especially vulnerable in this environment.

JPMorgan Chase has collaborated with the Florida Community Loan Fund since 1998, providing operating support, equity grants and investments to extend the reach of affordable housing in Florida’s low income areas. In the last three years, the firm has invested more than $10 million in FCLF to increase affordable housing in Central Florida, and improve access to sustainable affordable housing near South Florida’s transit corridor.

Components of Capital

FCLF Components of Capital June 30 2021

Cumulative Financing

FCLF Cumulative Financing June 30 2020

“FCLF is much more than a financing entity; they are the ultimate partner. They are on the front line protecting and building resources for the most vulnerable in our community."– Seth Eisenberg

Purpose Built Families Foundation

"FCLF shows a clear strategy and demonstrated evidence of addressing prevalent community needs." – J. Reymundo Ocañas, Director, Corp Responsibility

BBVA Compass

"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 understood our context, embraced the project vision, and were willing to make an investment that others deemed as too risky." – Lynn Brockwell-Carey, Executive Director

Neighbor Up Brevard

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

Metropolitan Ministries

"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

"FCLF plays a significant role in sustaining vibrant and thriving communities. We are pleased to support your ongoing community based efforts." – Ernie Diaz, South Florida Market President

TD Charitable Foundation

“The collaboration with FCLF and using NMTC financing allows us to bring the most ambitious projects to life to benefit the communities we serve.” – Elodie Dorso, President & CEO

Community Health Centers of Pinellas

“Thank you so very much for the exceptional services. We truly value FCLF’s contributions to furthering our mission." – Michael L. Bean, CEO

Housing Authority of Brevard County

"We appreciate how the work of FCLF primarily benefits low- to moderate-income individuals and areas and supports the needs of our community." – Maria J. Thompson, Community Development Manager

Third Federal Savings

"It is really working. FCLF is really touching low-income people." – Florida Community Loan Fund Founding Board Member

Sister Mary Heyser, RSHM

"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

“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

"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

"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

“We are proud to partner with FCLF on this project, which expands access to innovative, quality, comprehensive primary healthcare in our communities.” – Annie Neasman, President & CEO

Jessie Trice Community Health

“Thanks to FCLF adults with disabilities are living independently, fully included in their community." – Sheryl Soukup, Exec Dir

Residential Options of Florida

“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

"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

Our Partners

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