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FCLF provides capital and expertise to help projects succeed and improve low-income communities.


Our flexible financing can help your project succeed and help bring high social impact to low-income communities. We also offer technical assistance to our borrowers, either through our knowledgeable staff or outside technical experts.

Borrower Showcase 2022

COMMUNITY DEVELOPMENT FINANCING

FCLF’s Community Development Financing provides commercial loans for development of affordable housing, supportive housing, community facilities, and economic development projects. Loans made through the Community Development Financing have a direct impact on low- and moderate-income communities throughout the state of Florida. CDF Financing includes projects such as:

  • Affordable Housing (single and multifamily, for ownership or rent)
  • Supportive Housing
  • Community Facilities
  • Economic Development Projects

Florida Community Loan Fund offers flexible terms, which in most cases can be tailored to fit your project. In some cases, we can provide technical assistance as well, either through our staff or one of our partners.

Meet our Borrowers and see the impact we have across Florida.
Still have questions? Scroll down and read our FAQs for FCLF Lending.

If you think your organization may be able to benefit from FCLF's CDF Financing, read more information about our Application Process or Contact Us.

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.

Faqs For Fclf Lending

What do I need to know before I apply? Nonprofit and for profit organizations must meet FCLF’s mission and purpose tests. The application stops if the tests are not met.

Does FCLF take grant requests? FCLF does not issue grants. We make loans to nonprofit organizations and mission-focused for-profit entities to improve low- and moderate-income communities. From time to time there may be equity conversion available at the end of a loan term; Loan Officers will address this on a case by case basis.

Does FCLF make loans like a bank? Florida Community Loan Fund underwrites much like a bank in that we require a complete financial picture of an organization; project financial statements; and a complete understanding of all sources & uses of funds. FCLF looks for cash flow to repay its loans. However, FCLF also looks at things a bank does not - experience and reputation in the community count and social impact is important. FCLF may consider non-traditional collateral. FCLF considers more flexible loan structure. FCLF’s rates and fees are typically comparable to bank rates for similar loans.

How much can I borrow and what at what rate? The maximum loan available for a single loan through FCLF’s Community Development Financing is currently $6.5 million. (Larger loan sizes may be available for real-estate secured projects and through partnership lending.) Rates are fixed and range from 6.75% to 8.50%.

Do you require collateral? What collateral is acceptable? Collateral is required. FCLF does not make unsecured loans. Most projects financed by FCLF have real estate as collateral. Loan-to-value (LTV) will vary based on collateral type, but is typically in the 70% to 85% range.

How long does a loan approval take? The answer is highly variable depending on a number of factors. The FCLF Lending Committee generally meets monthly to review loan applications. However, the decision to bring a loan request to our Lending Committee rests with the Loan Officers and may require that the Borrower submit additional or revised information. This can sometimes cause delays in the approval process. The number of applications in process may also affect timing. For more information, read about the Application Process.

What are the next steps if my application is approved? Once a loan is approved, a commitment letter is usually issued within 2-3 days. Simple closings can be done within 2 weeks after receipt of a signed commitment letter. Complex closings usually take longer, especially if attorneys are needed.

What is the purpose of the Commitment Letter? To outline the terms and conditions under which the Florida Community Loan Fund will lend and to create a checklist for closing the loan.
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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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