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 2019

Cumulative Financing

FCLF Cumulative Financing June 30 2020

"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

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

BBVA Compass

“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

"FCLF understands and is a part of what we are doing: helping families have the American dream of owning a home." – Isaac Simhon, Executive Director

Housing Programs, Inc.

"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 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

Brevard Neighborhood Development Coaliti…

"Our partnership with FCLF allows us to build an attractive, state of the art facility that patients, staff, and community will be proud of." – Bakari Burns, President-CEO

Orange Blossom Family Health

"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

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

Neighborhood Renaissance

"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.


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

Residential Options of Florida

"Cade Museum is proud to be partners with FCLF and JPMorgan Chase. Thanks to the NMTC Program, we will provide a transformative asset to our community." – Jennifer Denault, COO

Cade Museum for Creativity & Inventi…

"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

"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

“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

"FCLF has proven its community impact and hard work. We are proud to partner with FCLF." – Leslie Watson, Analyst, Community Investments

Dignity Health

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

JPMorgan Chase Foundation

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

Sabadell United Bank

“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

"FCLF staff shares our vision and commitment to serve needy families and provide a high quality education to all children." – Thomas Cole, Founder

Emma Jewel Charter Academy

Our Partners

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