Project Description

yellow, green, red and tan logo for Southeast Florida Community Development Fund, Inc.

Southeast Florida Community Development Fund, Inc.

Purpose
The Southeast Florida Community Development Fund, Inc.’s (SFCDFI) is a separate and distinct 501(c)3 nonprofit organization, whose primary mission is to promote community and economic development, access to capital for small businesses, and job creation.

The SFCDFI primarily targets low- and moderate-income individuals and activities that revitalize or stabilize:

  • low or moderate-income geographic area
  • federally designated disaster areas
  • federally designated distressed or underserved non-metropolitan middle-income geographic areas primarily within Broward, Miami-Dade and Monroe Counties.

The SFCDFI is committed to:

  • providing construction financing to build affordable single-family homes to first time minority homebuyers
  • helping disadvantaged small businesses and start-ups by providing loans and development services that will result in successful businesses, the creation of jobs, and promote economic and community development in the primary target market within Broward, Miami-Dade and Monroe Counties.

Overview
The SFCDFI targets small businesses and start-up businesses in disadvantaged areas with capital and development services.  Our initial capitalization was provided by the Urban League of Broward County (ULBC) and its affiliate CDFI, Central County Community Development Corporation (CCCDC).

Development services have been provided by agreement through ULBC/CCCDC’s Entrepreneurship Center.  In addition, the SFCDFI continues to offer direct development services to help lead these businesses to success.  These services include the tools to properly manage and grow a business thereby helping early growth stage small businesses make sound decisions that support business growth, job creation, and greater prosperity in disadvantaged areas and communities.

It is SFCDFI’s belief that small disadvantaged businesses, as well as start-up businesses, deserve the same access to capital and services as non-disadvantaged businesses.  These disadvantaged businesses need tools, resources, and business support to thrive.  Small business creation and growth is difficult under the best of circumstances.

In South Florida, small businesses are the backbone of the region’s economy.  Insufficient resources and financing are obstacles which dampen the entrepreneurial spirit and make success difficult to achieve for the small business entrepreneur willing to jump into the marketplace to compete with non-disadvantaged businesses.

Affordable Housing Focus
The SFCDFI is supporting the development of much needed affordable housing with loans to non-profit organizations engaged in affordable housing development. The SFCDFI has been able to address the affordable housing crisis in Broward County by providing the construction funding needed to build single-family homes for first time minority homebuyers in low- and moderate- income census tracts in unincorporated Broward County.

The SFCDFI has been deemed “certifiable” by the U.S. Department of the Treasury Community Development Financial Institutions Fund (CDFI).  Upon completing the certification process, the SFCDFI will have the ability to obtain additional funding and be able to address the backlog of numerous single-family homes to be built for first time minority homebuyers in an expanded target market in Broward, Miami-Dade and Monroe Counties.

Tan house with brown roof under construction in south Florida  Beige house with red door, brown roof and picket fence in south Florida  House made of cinderblocks and wood beams for roof under construction in south Florida

Partners
The SFCDFI program partners with those approved developers and contractors to provide the construction financing to complete the single-family homes.  On average, the typical single-family home costs approximately $217K to build inclusive of all hard and soft costs.

  • The SFCDFI has worked in partnership with the  Urban League of Broward County (ULBC) and its affiliate CDFI, Central County Community Development Corporation (CCCDC).
  • Specifically, $500,000 has been invested in SFCDFI by ULBC/CCCDC and is backed by a $1 million loan loss reserve fund held by the ULBC.

The Southeast Florida Community Development Fund, Inc. is an independent 501(c)3 who contracts with the South Florida Regional Planning Council (SFRPC) for lending expertise, loan management, and administrative and staff support.

For more information:
Jeff Tart, Senior Loan Officer
jtart@sfrpc.com

Joyce Hall, Financial Specialist
jhall@sfrpc.com

Southeast Florida Community Development Fund, Inc.
One Oakwood Boulevard, Suite 250
Hollywood Florida 33020
954-924-3653

sfcdfi.org

Print SFCDFI Page