The Loan Fund ensures that every loan it makes contributes to community development and positive social change. Borrower stories are all about what a difference a loan can make.
BONITA SPRINGS AREA HOUSING DEVELOPMENT CORPORATION
Bonita Springs Area Housing Development Corporation (BSAHDC) was established in 1991 to serve the housing needs of low-income families of Bonita Springs in Lee County. BSAHDC has a track record stretching over several years now – it has developed over 1000 homes. FCLF has provided a total of 6 loans to BSAHDC (total loan amount $2.3 million), some in partnership with Enterprise Housing Financial Services. These loans have been used in various areas for acquisition of land, infrastructure and pre-construction, and lines of credit for construction of new homes. Their most recent project with FCLF funding is Renaissance at Rosemary Park, a subdivision of 39 affordable single-family homes built to Green standards.
To view more photos, click HERE.
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CASA SAN JUAN BOSCO
With its partner Enterprise, FCLF lent Catholic Charities of the Diocese of Venice $755,000 to acquire property in Arcadia for the development of a rural community offering affordable housing and supportive services for 125 very-low income farm workers. The project is also certified by the Florida Green Building Coalition.
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FLORIDA GREEN COMMUNITIES ™ INITIATIVE
FCLF and Enterprise Foundation have agreed to double their original commitment and will now supply up to $12 million in loan capital to help stimulate the development of affordable housing in Florida communities. In addition, FCLF’s financing will include special, lower-cost funding available through the Florida Green Communities ™ Initiative. The Initiative will also provide grant funding to qualified non-profits.
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LEE COUNTY HOUSING DEVELOPMENT CORPORATION
FCLF provided a $500,000 acquisition / construction Line of Credit that will be used initially for the acquistion and construction of 10 units of affordable single-family home ownership for low-income families in Ft. Myers.
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MISSION UNITY
With 2 loans totaling $675,000 from FCLF, Mission Unity has purchased a single-family home utilized as transitional housing and a triplex home utilized as men’s dorm, and is currently constructing up to 6 homes to Green standards that will provide transitional and permanent housing for graduates of their program.Mission Unity, Inc. was incorporated as a Florida non-profit corporation in May 2002, assist in facilitating the successful long-term recovery of persons expressing a commitment to complete abstinence from substance abuse and addictive lifestyles. It provides safe, stable, sober and supportive transitional and permanent housing to persons who have become homeless as a result of their addictive lifestyle. Residents participate in 12-step recovery programs, and must find and hold a job. With 2 loans from the Florida Community Loan Fund, Mission Unity has purchased a single-family home utilized as transitional housing, a triplex home utilized as men’s dorm, and is currently constructing up to 6 homes that will provide transitional and permanent housing for graduates of their program. To view more photos of Mission Unity, click here.
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PROJECT CHALLENGE
Project Challenge of the West Coast, Inc. used a $20,000 loan from the Loan Fund to provide social services for both young people and adults in a low-income neighborhood in Sarasota. The Loan Fund's short-term bridge loan paid the administrative costs of a program receiving grant funding from the Department of Juvenile Justice, whose participants attend job readiness workshops. Teenagers who completed the workshops were placed in part-time after-school jobs with local partners, companies that had agreed to mentor the graduates so that they could obtain job experience and earn wages.
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