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 2022

"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…

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

BBVA Compass

“FCLF will help us have significant ongoing impact in West Lakes as we help families set roots in this community.” – Camille Reynolds, Executive Director

Hannibal Square CLT

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

Sabadell United Bank

“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

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

Residential Options of Florida

"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.

"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

"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

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

Sister Mary Heyser, RSHM

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

Dignity Health

"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

"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.

“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

“Expanding our facility with NMTC financing provides the Overtown community resources necessary to provide a fighting chance to break down barriers and break the cycles of poverty.” – Tina Brown, CEO

Overtown Youth Center

“Thanks to FCLF we’re able to provide brand-new safe, affordable homes for 90 families in a sustainable mixed-use, mixed-income community." – Mitchell Rosenstein, Founder & Principal

Green Mills Group

"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

"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

Our Partners

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.
FCLF supporter, the Northern Trust Company, hosted a housing roundtable in Sarasota.
FCLF supporter, the Northern Trust Company, hosted a housing roundtable in Sarasota.
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.
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 staff with Tampa's Chloe Coney at Metropolitan Ministries Tampa.
FCLF staff with Tampa's Chloe Coney at Metropolitan Ministries Tampa.
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 staff are active at statewide conferences and events.
FCLF staff are active at statewide conferences and events.
Residents at Neighborhood Renaissance's Mathis Place enjoy affordable rent.
Residents at Neighborhood Renaissance's Mathis Place enjoy affordable rent.
FCLF projects create jobs and stimulate development in low-income communities.
FCLF projects create jobs and stimulate development in low-income communities.
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.
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.
FCLF staff and supporters volunteer at Million Meals event.
FCLF staff and supporters volunteer at Million Meals event.
Support from Valley Bank helps FCLF build strong communities.
Support from Valley Bank helps FCLF build strong communities.
Rep. Daniel Webster visited FCLF staff.
Rep. Daniel Webster visited FCLF staff.
Neighbor Up, formerly BNDC, offers affordable housing in Brevard County.
Neighbor Up, formerly BNDC, offers affordable housing in Brevard County.
Support from Axiom Bank helps FCLF build strong communities.
Support from Axiom Bank helps FCLF build strong communities.
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 Staff meet and greet friends at an FLACDC event.
FCLF Staff meet and greet friends at an FLACDC event.
Rep. Ander Crenshaw visited KIPP Jacksonville School
Rep. Ander Crenshaw visited KIPP Jacksonville School
FCLF Financing to Neighbor Up Brevard helps provide affordable rental housing.
FCLF Financing to Neighbor Up Brevard helps provide affordable rental housing.
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 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)
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 projects create jobs and stimulate development in low-income communities.
FCLF projects create jobs and stimulate development in low-income communities.
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 Board Members represent our investors, borrowers, and technical experts.
FCLF Board Members represent our investors, borrowers, and technical experts.
Support from TD Bank Charitable Foundation helps FCLF build strong communities.
Support from TD Bank Charitable Foundation helps FCLF build strong communities.
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 representatives are ready to talk about your project success.
FCLF representatives are ready to talk about your project success.
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 financing to Housing Programs, Inc. helps provide affordable homes for ownership.
FCLF financing to Housing Programs, Inc. helps provide affordable homes for ownership.
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.
DuPuis Pointe offers affordable, hurricane proof homes in Miami.
DuPuis Pointe offers affordable, hurricane proof homes in Miami.
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.
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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.