Florida Loan Fund Awarded $40 Million Award: Who’ll Benefit?

The U.S. Treasury has given a $40 million New Markets Tax Credit Allocation Award to the nonprofit Florida Community Loan Fund.

The NMTC award allows FCLF to continue offering flexible financing alternatives for high-impact projects in low-income areas of Florida.

FCLF will use its NMTC award to support community services including health care and youth programs and promote living-wage jobs that allow people to advance

"This most recent New Markets Tax Credit allocation award from the CDFI Fund will increase our organization's reach," said FCLF CEO Ignacio Esteban.

FCLF has a history of getting money into Florida's low-income communities and making sure that people and places outside of the economic mainstream have the most opportunities possible. 

Since 1998, Miami's Overtown Youth Center has offered mentoring, education, and family support. OYC built a new building with NMTC's help, creating 175 employment.

Florida FQHC uses NMTC to build two new and refurbish two existing facilities. The clinic treats 17,000 low-income patients annually, 51% on Medicaid or CHIP (CHIP). Creating 300 jobs.

Jessie Trice Community Health System in Miami Gardens paid for a FQHC so it could serve 13,000 more patients annually. Saved: 110 jobs.

Since 1987, Florida Community Loan Fund has provided flexible money and skilled advise to people and places outside of Florida's economic mainstream.

FCLF is a member of the Federal Home Loan Bank of Atlanta and a Treasury Department-certified CDFI and CDE.