Florida Community Loan Fund and Truist partner to build better communities in Florida
$10 million investment will lead capital into low-income communities, expanding availability of affordable housing and community services

Truist logo   

Florida Community Loan Fund has announced the March 2022 closing on a $10 million investment from Truist Bank, which will be used as flexible loan capital to create high impact through affordable housing, healthcare, education and youth services, homeless services, food access and other projects that support people and places outside of the economic mainstream.

With a 25-year history of leading capital into Florida’s low-income communities, FCLF is nationally recognized for its work as a lending institution serving both nonprofit and mission-focused for-profit borrowers and developers. Investors and supporters of FCLF include nearly all major financial institutions in Florida, leading foundations, religious communities and orders of faith, federal and state government. FCLF’s strategic plan emphasizes significant growth through 2024, which will be supported by this new investment from Truist.

“Truist was one of the earliest bank investors in FCLF. With this new investment, Truist is demonstrating leadership among its banking peers in supporting community development in Florida,” said FCLF CEO Ignacio Esteban. “The terms of the investment demonstrate Truist understands the challenges in low-income communities across our state, and its willingness to collaborate to maximize opportunities in those communities.”

Through its Community Benefits Plan, from 2020 to 2022, Truist will lend or invest $60 billion to low- and moderate-income (LMI) borrowers and in LMI communities. This will include support for affordable housing, nonprofits and small business growth in LMI geographies. The bank also supports the communities it serves through its corporate citizenship and community development efforts, including the Truist Foundation.

“This investment will help develop affordable housing and community facilities that provide health care and other essential services across the state,” said Sandy Hostetter, Central Florida regional president for Truist. “By providing access to capital to support low-income communities, FCLF and its partners will provide stability for families, strengthen the region, and help Truist fulfill our purpose to inspire and build better lives and communities.”

With more than $370 million in assets under management, FCLF helps capital flow into community development projects through direct commercial lending and through the New Markets Tax Credit program, where it has deployed more to Florida nonprofits than any other group in the state. Examples of FCLF financing in Florida low-income communities include:

  • Neighborhood Renaissance: new construction and renovation of affordable housing in Palm Beach County – both single and multifamily – for-sale and rental (Palm Beach County).
  • SailFuture: acquisition/renovation of group homes and a grades 6-12 school in Tampa Bay for foster youth housing, services and education.
  • Feeding Northeast Florida: acquisition/renovation of facility in Jacksonville to consolidate and expand services that address food insecurity in multiple counties.

About 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 nonprofit and mission-aligned for-profit entities that benefit people and places outside the economic mainstream across Florida. FCLF is nationally recognized for its work as a certified CDFI and CDE through the U.S. Dept. of Treasury and as a member of the Federal Home Loan Bank of Atlanta. www.fclf.org.

About Truist. Truist Financial Corporation (NYSE: TFC) is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist has leading market share in many high-growth markets in the country, and offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $544 billion as of March 31, 2022. Truist Bank, Member FDIC. Learn more at Truist.com.

Media Contacts: Janet de Guehery, This email address is being protected from spambots. You need JavaScript enabled to view it., This email address is being protected from spambots. You need JavaScript enabled to view it.

Twitter @FCLFOrg, @TruistNews

 

Components of Capital

FCLF Components of Capital June 30 2021

Cumulative Financing

FCLF Cumulative Financing 2022

"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

“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

“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

"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

“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

"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

“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

“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

"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

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

Dignity Health

“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 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 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 provides stability for families, strengthens the region, and helps Truist fulfill our purpose to inspire and build better lives and communities." – Sandy Hostetter, Central Florida Region P

Truist

"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

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

Sabadell United Bank

“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

"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

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

Residential Options of Florida

Our Partners

FCLF projects create jobs and stimulate development in low-income communities.
FCLF projects create jobs and stimulate development in low-income 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.
Rep. Daniel Webster visited FCLF staff.
Rep. Daniel Webster visited FCLF staff.
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.
Support from Axiom Bank helps FCLF build strong communities.
Support from Axiom Bank helps FCLF build strong communities.
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 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.
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.
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 representatives are ready to talk about your project success.
FCLF representatives are ready to talk about your project success.
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 staff and supporters volunteer at Million Meals event.
FCLF staff and supporters volunteer at Million Meals event.
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)
Support from TD Bank Charitable Foundation helps FCLF build strong communities.
Support from TD Bank Charitable Foundation helps FCLF build strong communities.
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 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 are on hand at conferences and events to discuss our programs.
FCLF Staff are on hand at conferences and events to discuss our programs.
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 Board Members represent our investors, borrowers, and technical experts.
FCLF Board Members represent our investors, borrowers, and technical experts.
FCLF Financing to Neighbor Up Brevard helps provide affordable rental housing.
FCLF Financing to Neighbor Up Brevard helps provide affordable rental housing.
FCLF staff are active at statewide conferences and events.
FCLF staff are active at statewide conferences and events.
Neighbor Up, formerly BNDC, offers affordable housing in Brevard County.
Neighbor Up, formerly BNDC, offers affordable housing in Brevard County.
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 supporter, the Northern Trust Company, hosted a housing roundtable in Sarasota.
FCLF supporter, the Northern Trust Company, hosted a housing roundtable in Sarasota.
Support from Valley Bank helps FCLF build strong communities.
Support from Valley Bank helps FCLF build strong communities.
FCLF staff with Tampa's Chloe Coney at Metropolitan Ministries Tampa.
FCLF staff with Tampa's Chloe Coney at Metropolitan Ministries Tampa.
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.
Residents at Neighborhood Renaissance's Mathis Place enjoy affordable rent.
Residents at Neighborhood Renaissance's Mathis Place enjoy affordable rent.
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.
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 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
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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.