Florida Community Loan Fund

Intending to create a new financing organization to support nonprofits with access to credit and technical assistance, in 1996, a local religious group pooled its pension funds to provide the initial investment for Florida Community Loan Fund (FCLF). To date, the state’s first statewide certified CDFI has made over 180 loans for a total of over $140 million to over 100 organizations throughout Florida. In 2014, more than $62 million, about one third of FCLF 2014 lending, was deployed within the Fort Lauderdale-Miami region. More than three quarters of the Loan Fund is devoted to housing, about 15% to community facilities, and eight percent of its investments are directed toward economic development projects.  Its capital has helped to create almost 3,500 units of affordable and supportive housing, more than 100 community facilities, and created 6,424 jobs—1,435 of which are permanent. In 2013 FCLF was awarded its fifth New Market Tax Credit Allocation Award from the U.S. Treasury CDFI Fund.

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