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As the only statewide federally certified CDFI in Florida, the Loan Fund's loans to nonprofit groups provide much needed capital at below commercial market rates. The Loan Fund applies rigorous financial standards to its review of its loan applications, and combines targeted technical assistance to help improve the internal capacity of its borrowers. Because it fosters a performance-based relationship-which requires mutually strong business discipline-with the organizations to which it lends the Loan Fund helps strengthen the internal organizational and fiscal management of borrowers. Technical assistance (TA) is essential to the long-term effectiveness of the Loan Fund's financing activities. Borrowers with access to appropriate TA can improve their projects, reduce their costs, increase their productivity, and strengthen their organization's development capacity. In addition, of course, they become stronger and more capable borrowers. TA is delivered on a wide range of issues to borrowers and loan applicants. It can include general assistance (such as refining policies and conducting board training) or very specific assistance. For example, it helped a borrower develop a case for a change in housing policy at the county level and often has helped borrowers identify and recruit additional financing sources. Additionally, the Loan Fund has helped review data reporting systems, refine fiscal procedures and evaluate a project's compatibility with the applicant's organizational mission. |
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