The U.S. Department of Treasury Community Development Financial Institutions Fund has granted the Florida Community Loan Fund $65 million in New Market Tax Credit allocations. The award enables the Orlando-based Florida Community Loan Fund to support economically disadvantaged communities and finance projects that otherwise could not proceed. The fund will use the money to focus on high social impact projects, such as community health centers, facilities serving homeless and other at-risk populations. Florida Community Loan Fund is a nonprofit financing entity with a 20-plus year history of providing flexible capital and expertise to low income communities across Florida. It has financed $250 million through 250 loans in Florida, making possible over $850 million in new investments in low-income communities.
“We are honored that Florida Community Loan Fund has been entrusted to invest in Florida’s future with this New Markets Tax Credit allocation,” said Florida Community Loan Fund CEO Ignacio Esteban. “We believe that financing and expertise can drive positive economic and social change and we are excited to help strengthen more communities in Florida.”
