The Florida Community Loan Fund makes financing available to community-based 501c3 non-profits for affordable housing, essential social services and community economic development services that are
delivered to low-income neighborhoods, families and individuals. The Loan Fund uses two types of loan applications tailored specifically for the types of projects it finances.
The Loan Fund will consider a broad number of loan requests. For example, for non-profits seeking an Affordable/Supportive Housing loan, the Loan Fund can offer a simple term loan to purchase property for purpose of rental, or a time loan for rehab and resale, or construction line of credit, or a combination of these structures. Facility/Economic Development loans are made for the construction or rehabilitation of community facilities; for neighborhood and commercial revitalization projects as well as for community-based neighborhood daycare services.
The Loan Fund is often uniquely suited to providing community development financing because it is frequently willing to:
- Commit early at the front-end of a project as a way to help attract other sources of funding
- Structure loan rates, payment schedules and terms that take into consideration the unique needs and characteristics of Florida's nonprofit sector
- Participate with other conventional and non-profit lenders such as Enterprise Housing Financial Services
- Assume higher-risk portions of loans; and
provide free technical assistance to ensure the success of the borrower's project
|
|
|
Board make-up and expertise
