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Florida Community Loan Fund, Inc.
501 N Magnolia Ave, Ste 100Orlando FL, 32801-1364
CDFI Awards for Florida Community Loan Fund, Inc.
NMTC (2009) - $45,000,000
The Florida Community Loan Fund (FCLF) proposes to direct its NMTC allocation to support high-impact economic development projects, non-profit organizations providing essential services to low-income areas, and commercial real estate with tangible benefits to low-income persons. With its NMTC allocation, FCLF will be able to make loans with interest rates that are significantly below market, as well as loans that have flexible and innovative structures, including longer periods of interest-only payments and longer amortizations. FCLF will also be able to make loans to non-profits that are much larger than its current loan maximum.
FA (2008) - $1,000,000
The Florida Community Loan Fund, Inc. (FCLF) is a nonprofit loan fund and certified CDFI created in 1996. FCLF is the only statewide CDFI in the State of Florida providing affordable housing and community facilities financing and technical assistance to nonprofit organizations in low-income communities throughout Florida. FCLF will use the FY08 Financial Assistance award of $1,000,000 for financing capital and will leverage approximately $25 million in financing over a four year period.
FA (2007) - $586,800
Established in 1994, the Florida Community Loan Fund is a certified CDFI. It provides financing and technical assistance to nonprofit organizations working in low-income communities throughout the state. The CDFI will use the FY07 FA award to recapitalize its loan fund and for loans to build or rehabilitate affordable housing and community facilities.
FA (2004) - $800,000
Florida Community Loan Fund, Inc. (FCLF) will use the award to allow it to increase its lending in to nonprofit developers of affordable for-sale and rental housing for low-income Floridians. The grant will also be used to finance providers of affordable multi-family housing for low-income and special needs populations. The FA award will be used to develop or rehabilitate over 100 single-family homes and over 700 multi-family units in Hot Zones.
NMTC (2003) - $15,000,000
The Florida Community Loan Fund (FCLF) will originate loans for nonprofit community facilities and commercial real estate in eligible census tracts in the State of Florida. It will target new lending products in ways that would not be possible without a NMTC Allocation. Specifically, the allocatee will: (1) make loans that are significantly larger than its current loan maximum; (2) concentrate activities in areas of particularly high distress; and (3) offer notably below-market interest rates with flexible, liberal underwriting criteria, including subordinated debt and longer amortizations. FCLF"s program is designed to better ensure that non-profit organizations that are committed to fostering economic activity and community development in low-income communities can access the benefits of the NMTC Program.
CORE (2001) - $1,000,000
The CDFI Fund"s $600,000 grant and $400,000 loan will allow FCLF to increase its lending to developers of housing for farmworkers, to non-profit-owned commercial real estate developments, and to child care facilities across the state.
SECA (2000) - $50,000
The CDFI Fund"s technical assistance award will be used to support staff training, acquire technology, conduct a market analysis, and develop new loan products.
CORE (1998) - $550,000
The CDFI Fund"s $275,000 capital grant, $250,000 loan, and $25,000 technical assistance grant will be used to increase the volume of its current loan programs and to study the need for microloans in its target market.
Other Community Development Financial Institutions in Florida
Business Loan Fund of the Palm Beaches, Inc., The
West Palm Beach
Community Equity Investments, Inc.
Pensacola
Community Financing Consortium
West Palm Beach
Florida Community Capital Corporation
Winter Park
Jacksonville Affordable Mortgages, Inc.
Jacksonville
Metro Broward Economic Development Corporation
Fort Lauderdale
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