Chronicle Journal: Finance

Florida Community Loan Fund Awarded $825,000 for Low-Income Communities

ORLANDO, Fla., Sept. 25, 2020 /PRNewswire/ -- Florida Community Loan Fund, a statewide nonprofit lending institution, announced it was awarded $825,750 by the U.S. Treasury Department Community Development Financial Institutions (CDFI) Fund. FCLF will use the award to help grow its lending over the next three years, delivering $74 million in new financing and providing affordable housing and essential social services in underserved Florida communities.

As a statewide CDFI, FCLF serves the third most populated state in the US, with a population of 21+ million. Of Florida households, 16 percent live in poverty, and an additional 32 percent are considered working poor. With the CDFI Fund award, FCLF continues its history of leading capital into low income, high poverty communities and delivering flexible financing that maximizes opportunities for people and places outside of the economic mainstream.

"The need for affordable housing and social services in Florida has never been greater," said FCLF CEO Ignacio Esteban. "The CDFI Fund Award will allow us to continue to create impact in the communities that have often been overlooked and need our help the most."

FCLF has a 25-year history of providing capital for community and economic development in Florida, creating a high social impact. To date, FCLF has delivered $470 million in financing into projects totaling $1.2 billion. Examples of FCLF's past investments in low-income communities include:

FCLF's award is the largest of 12 awards to Florida organizations through the CDFI Fund competitive process that awarded a total of $204.1 million nationally to 397 CDFIs.

About Florida Community Loan Fund. Florida Community Loan Fund is a nonprofit, multifaceted financing entity with a 20+ year history of providing flexible capital and expertise to 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.

Media Contact: Janet de Guehery,
Twitter @FCLFOrg

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SOURCE Florida Community Loan Fund (FCLF)

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