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FCLF's Board of Directors includes representatives from organizations all over the state of Florida, representing our Investors, our Borrowers, and Technical Experts.


Borrower Showcase 2022

NMTC: NEW MARKETS TAX CREDIT

FCLF’s New Markets Tax Credit (NMTC) Program can finance construction or major renovation of real estate in qualified distressed census tracts, with tax credits provided to the investor through the Federal NMTC program.

The NMTC Program was created by the Federal Government in 2000 to encourage investment and jobs creation in very low-income communities.

Florida Community Loan Fund has participated in the NMTC Program since 2003, and has been awarded $511 million in allocations from the U.S. Treasury's CDFI Fund and $11 million in awards from the State of Florida's New Markets Development Program.

At FCLF, our NMTC program focuses on projects that align with our mission of helping underserved citizens throughout the state of Florida.

FCLF's NMTC focus is on community facilities that place a priority on serving low-income clients or provide dedicated social or educational services to low-income or at-risk clients. This could include:

  • Community Health Centers
  • Homeless Facilities
  • Domestic Violence Shelters
  • Behavioral Health Centers
  • Youth Services Facilities
  • Food Banks

Does NMTC fit your project? Some of the characteristics of NMTC financing are:

  • Monthly payments may be lower than for similar size conventional loans as a result of interest-only payments.
  • Effective rates are often below market for commercial loans of this type.
  • Higher LTVs may result from the 2-loan structure, with the "B" loan often being treated as up-front substitute for a portion of equity required by lenders.
  • Option of equity conversion at the end of the 7-year term.

The guidelines for qualifying for financing through the NMTC Program are very specific. More information can be found on our Publications & Resources page, or on the CDFI Website.

Meet our Borrowers through the NMTC Program and see the impact we have had in qualified distressed census tracts.

If you have more questions or to find out if your project meets the NMTC Program guidelines, Contact Us.

If you are a non-profit organization, or a mission-focused for-profit organization that is seeking financing for your community development project, then Community Development Fund (CDF) financing may be a fit for you.

Housing at Casa San Juan Bosco

HOUSING

If you are a developer seeking financing for housing, and you are building, renovating or rehabilitating these types of housing, then FCLF may be able to help with financing for your project.

  • Single Family Affordable Housing
  • Multifamily Affordable Housing
  • Supportive Housing, incuding social services for residents
  • Preservation of Multifamily Affordable Rental Housing

FCLF provides capital and expertise to help projects succeed and improve low-income communities through its flexible financing programs.

STEP 1. Review Program Guidelines.

Visit our Publications and Resources page for a downloadable program guide on our Affordable Housing Financing, Community Facilities Financing, or New Markets Tax Credit (NMTC) Program.

Contact Us and ask to be directed to one of our Loan Officers. If your Loan Officer recommends it, you will move on to the next step.

STEP 2. Complete the Loan Application.

If your Loan Officer believes that your project is a good fit for FCLF financing, you will receive a Loan Application by email. Once you have completed and submitted your application, it will be reviewed by your Loan Officer.

STEP 3. Lending Committee Review.

Each completed application goes through underwriting and then on to a Lending Committee for approval, rejection, or requests for additional information. You may be asked to sign a Letter of Commitment detailing terms.

STEP 4. Closing and Post Closing.

Your Loan Officer will work with you to arrange the closing. After closing, funds will be disbursed as agreed upon. You will receive monthly statements and may make payments by check or wire transfer.

AND REPEAT Benefit to Other Low-Income Communities.

As you make payments on your financing, that funding is available to use for other high-impact community and economic development projects around Florida. In this way we all work together to maximize opportunities for people and places outside the economic mainstream.
Core Purpose FCLF exists to maximize opportunities for people and places outside of the economic mainstream.
Our Vision Opportunity and dignity exist for every person and community in Florida.
Our Mission Our expertise and capital make projects successful and help organizations improve lives and communities.

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