The Community Investment Fund (CIF) is a financing program for nonprofit organizations.
The Community Investment Fund (CIF) is an innovative financing program that provides access to capital to nonprofit organizations to activate community economic development. The Puerto Rico Community Foundation (FCPR) established the CIF in 2016.
The instrument is similar to funds created in the United States by community foundations, with their own financial injection. The FCPR made a first injection of $500,000 and was followed by other investors: Angel Ramos Foundation, Presbyterian Church Foundation, Banco Popular, Scotiabank, First Bank, Oriental Bank and Banco Santander (2016-2018).
The FIC represents a unique opportunity for the Third Sector since interest rates are low, repayment terms are comfortable, and the entity is offered counseling and financial and administrative support to control risk.
Eligible activities
- Capitalize community lending programs
- Buying and rehabilitating low-income housing
- Obtain operating capital
- Finance projects that generate economic and social returns.
Minimum requirements
- FCPR compliant mission
- +3 years operating as a non-profit organization
- Operating budget of more than $$100,000
- Financial statements for the past 3 years
- Financial projections for the next 3 years
The Colegio de Aprendizaje y Desarrollo Educativo Integrado (CADEI) in Moca used the FIC to obtain operating capital and equipment. CADEI seeks to provide its students, including those with specific learning disabilities, with an integrated educational system.
The Yauco Center for Microenterprises and Sustainable Agricultural Technologies (CMTAS) is one of the projects that during 2018
benefited from FIC. CMTAS seeks to create and maintain community-based agricultural micro-entrepreneurs in areas that are socioeconomically disadvantaged by providing training and educational services.
Terms* Interest Rate: Up to 8% | Maximum Term: Up to 60 months | Maximum Amount: $250,000
The Community Investment Fund provides iood interest rates, flexible repayment terms, and conseling and accompaniment.
With FIC you can do it! Learn more!
Contact the Puerto Rico Community Foundation for guidance on how to access the capital provided by the Community Investment Fund. Let's be part of the renewal of our communities by generating businesses and jobs that stimulate the economic activity of our island.
Note | The interest rate is up to 8%, the maximum term is up to 60 months, and the maximum amount is $250,000 - subject to credit approval.
Contact information
787-721-1037 / Finance Director, Noelia Marín Oquendo, nmarin@fcpr.org / Administration and Accounting Coordinator, Alexander Parrilla Carrasquillo, aparrilla@fcpr.org