FCLF exists to maximize opportunities for people and places outside of the economic mainstream.
FCLF's mission is to offer expertise and capital to help make projects successful and help organizations improve lives and communities. Our goal is to help organizations build, acquire and rehab projects – ultimately, to help people and build strong communities. We believe a community is defined by its components: housing, schools, healthcare, grocery stores, local businesses. Our loans help stabilize communities by providing resources to help local non-profit and mission-based for-profit organizations succeed and achieve their missions.
Here are some of the ways we have touched lives and communities through our financing programs.
As of June 30, 2019, FCLF has achieved...
$407 million in total financing into projects totaling $1.12 billion in project costs, through
331 loans through its community development lending, and
25 transactions through the New Markets Tax Credit Program.
Our borrowers provide affordable housing, for sale and rent, to households that meet low-income criteria. As of June 30, 2019, FCLF has financed 5,966 affordable housing units.
In addition to these measurable impacts, FCLF advocacy work aims to improve public policies that:
- affect the operating environment in which our borrowers work,
- create opportunities for increasing the capacity for non-profit developers, and
- promote transparent accountable strategies for increasing the flow of capital for community and economic development in low- and moderate-income communities.
Our efforts include educating state and federal elected officials on the role of Community Development Financial Institutions (CDFIs) as important intermediary institutions with the capacity to leverage state and federal dollars to achieve greater impact.
Here is a snapshot of FCLF's Components of Capital at June 30, 2019: