Southeast Florida Community Development Fund, Inc.

The Southeast Florida Community Development Fund, Inc. (SFCDFI) is an independent 501(c)3 nonprofit organization that focuses on promoting community and economic development, particularly in low- and moderate-income areas. It achieves this through providing access to capital for small businesses and job creation. The organization primarily targets areas within Broward, Miami-Dade, and Monroe Counties in Florida.

Mission and Activities

The SFCDFI's mission is centered around enhancing economic opportunities in disadvantaged communities. It does so by offering capital and development services to small businesses and start-ups, especially those in underserved regions. One of its key initiatives is providing construction financing for building affordable single-family homes, specifically for first-time minority homebuyers. This effort aims to address the affordable housing crisis in South Florida by supporting projects in cities such as Fort Lauderdale, Lauderhill, and Homestead.

Partnerships and Funding

The organization's initial capitalization was facilitated by the Urban League of Broward County (ULBC) and its affiliate, Central County Community Development Corporation (CCCDC). These partnerships have enabled the SFCDFI to invest in developing affordable housing projects. For instance, the SFCDFI has collaborated with Broward County Housing Finance and Community Redevelopment to further expand its program and address the backlog of affordable housing needs.

Financial Structure

The SFCDFI utilizes a revolving loan fund structure. This financing model allows for a self-replenishing pool of money, where interest and principal payments from repaid loans are used to issue new loans. This approach ensures sustainability and ongoing support for community development projects.

Impact

By focusing on affordable housing and small business development, the SFCDFI plays a critical role in fostering economic growth and stability in underserved areas of South Florida. Its efforts have been recognized for helping first-time minority homebuyers transition to homeownership and for contributing to the region's broader economic development.