Florida Community Loan Fund has received an award of $35 million in New Markets Tax Credit allocation from the U.S. Treasury Community Development Financial Institution Fund. FCLF – Florida-based and Florida-focused – will devote 100% of this award to the underserved state of Florida.
This year’s NMTC award will allow FCLF to continue building on its track record of financing high-impact community facilities to bring accessible, quality services and jobs to low-income communities in Florida. As a statewide, mission-driven CDFI focused on serving low-income communities and areas of high distress, FCLF will funnel the benefits of this NMTC allocation into entities that do not have the cash flow to support the traditional debt needed for large-scale development projects. NMTC provides financing for projects that are not otherwise able to raise the capital necessary to bring their high-impact projects to fruition.