ORLANDO, Florida, July 20, 2016 /PRNewswire-USNewswire/ -- Florida Community Loan Fund (FCLF), a statewide source of flexible financing for community and economic development, announces plans to provide financing to Treasure Coast Food Bank (TCFB) for a new 9400-square foot facility. The $1,600,000 loan will be used to renovate and equip a food processing facility that will provide fresh food to families across Indian River, Martin, Okeechobee and St. Lucie Counties.
The new facility will launch the Florida Agriculture & Nourishment Collaborative which will purchase fresh fruit and vegetables from 100 local farmers; process and prepare 5 million pounds of produce annually for resale to 100 local schools; and donate to 400 human service agencies to feed families in need. Additionally, the TCFB facility will offer culinary arts training to long-term unemployed adults in the four-county area.
"This first-of-its-kind production facility will deliver healthy food options while also achieving positive economic impact by creating income-producing opportunities in these counties," said FCLF CEO Ignacio Esteban. "We are also excited about the potential of being able to replicate this collaborative model in other areas of Florida."
The Florida Association of Food Banks estimates there are 40 million pounds of surplus produce annually that food banks across Florida are unable to accept due to capacity challenges.
FCLF has also helped improve healthy food access in Florida communities through financing to Hitchcock's Market in Old Town, and Metropolitan Ministries' Pasco County food distribution center. In 2015, FCLF became the first CDFI in Florida to secure a Healthy Food Financing Initiative Award from the U.S. Department of Treasury CDFI Fund.
About Florida Community Loan Fund
Florida Community Loan Fund is a nonprofit, multifaceted financing entity with a 20+ year history of providing flexible capital and expertise to low income communities across Florida. FCLF is nationally recognized for its work as a certified CDFI and CDE through the U.S. Dept. of Treasury and as a member of the Federal Home Loan Bank of Atlanta. FCLF has financed $250 million through 250 loans in Florida, into projects totaling more than $830 million. For more information, please visit www.fclf.org.
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SOURCE Florida Community Loan Fund (FCLF)