Florida Community Loan Fund Awarded $852,000 for Low-Income Communities

Award from U.S. Treasury CDFI Fund will finance economic and community development across Florida

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Nov 21, 2019, 08:12 ET

ORLANDO, Fla., Nov. 21, 2019 /PRNewswire/ -- Florida Community Loan Fund, a statewide nonprofit creating high community impact through financing, announced it was awarded $852,000 by the U.S. Department of Treasury Community Development Financial Institutions (CDFI) Fund.

As a statewide CDFI, Florida Community Loan Fund serves the 3^rd most populated state in the U.S. In Florida, 16% of households live in poverty, 32% are considered working poor – unable to afford basic necessities – and 2.8 million residents live with a disability. FCLF recently unveiled a strategic plan that will directly impact underserved populations through deployment of $365 million in financing through 2024. The CDFI Fund Award will assist FCLF in achieving its strategic goals and help the organization strengthen Florida's communities by leading capital into low-income areas.

"Many Floridians struggle to secure affordable housing and lack adequate access to quality social services," said FCLF CEO Ignacio Esteban. "The CDFI Fund Award allows us to continue maximizing opportunities for people and places that are outside of the economic mainstream."

FCLF's affordable and patient capital finances housing and community facilities targeting Florida's most vulnerable. Examples of FCLF-financed high-impact projects include:

Silver Creek - 81 affordable rental apartments and retail space to stimulate economic development in Miami.
Spinal Cord Living Assistance Development - accessible, affordable apartments with supportive services in Miami.
Evans Center - a fresh food grocery, healthcare clinic, and community meeting space in Brevard County.

The CDFI Fund awarded a total of $188.7 million nationally to 284 CDFIs. FCLF's award is the largest of 9 awards to Florida organizations through the competitive process.

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. www.fclf.org

Media Contact: Janet de Guehery, [email protected]
Twitter: @FCLFOrg

SOURCE Florida Community Loan Fund (FCLF)