ORLANDO, Fla., Sept. 23, 2019 /PRNewswire/ -- Florida Community Loan Fund, a statewide nonprofit creating high community impact through financing, has announced that it will invest $365 million in flexible financing as part of its 2019-2024 Strategic Plan. The FCLF Strategy will maximize opportunities for people and places outside of the economic mainstream by providing $365 million in financing by June 2024.
The strategic plan is the organization's most ambitious in its 23-year history and will guide FCLF through fiscal 2024 as follows:
- Financing - FCLF will double its financing, expanding reach and creating a more robust and sustainable community development and affordable housing delivery system across Florida.
- Leadership - FCLF will deliberately expand its leadership role statewide, through providing flexible capital, and being a voice through policy advocacy.
- Impact - FCLF will help capital flow in new and better ways that create high social and economic impact.
"The goals and objectives of this new strategy enable us to be innovative and agile so we can continue to maximize opportunities and increase our reach and impact," said Ignacio Esteban, FCLF CEO. "As a mission focused lender, we are sharing our strategy to encourage transparency and accountability to our work."
Since inception, FCLF has financed $407 million across Florida, making possible projects totaling $1.12 billion. Borrowers have included nonprofits, mission-focused for-profit developers, housing authorities, and other impact-focused community development organizations. The new Strategy – with its investment goal of an additional $365 million in financing – broadens and expands access to responsible, affordable financing in Florida through new lines of business, targeted investments, and a local focus.
As a Community Development Financial Institution, FCLF has consistently provided solutions for its investors – financial institutions, faith-based organizations, corporations, and foundations – to lead capital into and improve low-income areas in Florida communities. The new Strategy will expand FCLF's role and identify additional opportunities to collaborate with investing partners.
Learn more at fclf.org/2019-strategic-plan.
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.
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SOURCE Florida Community Loan Fund (FCLF)