Bronx Community Health Network (BCHN) in New York recently closed funding on their first physical health center facility. Capital Fund is proud to support this project with a $4,653,000 bridge loan, with an expected total budget of $8,535,000.
In addition to Capital Fund’s contribution, the project will be funded with NMTC equity, grants, including a grant from the Health Resources and Services Administration (HRSA), and the health center’s own cash on hand.
The financing will support the purchase and renovation of a 11,000 square foot building allowing BCHN to open its first site sooner than they would if they were to engage in new construction. This state-of-the-art community-based, multi-service Federally Qualified Health Center (FQHC) is designed to provide co-located, integrated medical, behavioral, and oral health services as well as podiatry, pharmacy, and complementary health promotion, education, outreach, social supports, care coordination, and chronic disease management services.
As a patient- and community-centric facility, the project incorporates activity spaces for all age groups such as afterschool programming, fitness, cooking, health, and financial literacy workshops. The clinic will also provide care through face-to-face, telehealth, and telephonic patient encounters as well as in-home visits and assessments as needed. Additionally, clinical and administrative systems will be streamlined and digitalized to achieve optimum operations and financial efficiencies, data tracking and analysis, program evaluation, and internal and external stakeholder satisfaction.
Bronx Community Health Network has an 18-year history of providing quality care to their community, acting as a pass-through entity for the Montefiore Health System. Located in a diverse area, BCHN has always prided themselves on creating a health center without walls, to break down barriers in care and increase access, and quality of care without exceptions. This unique positioning has allowed them to provide access to comprehensive, quality, affordable medical, behavioral, and oral health care as well as social determinants of health-related services to clients who otherwise might not have received care.
To learn more about Capital Fund’s loan products, including our LoanPlus program, please contact Brandon Boyle, Senior Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it..
In response to an increase in patient demand in the community it serves, Virginia Garcia Memorial Health Center (VMHC) in Oregon is embarking on a $25.4 million purchase, renovation, and expansion project to more than double the size of their previously leased facility. Capital Fund is proud to support this project with an $8 million New Markets Tax Credits allocation. The Health Resources and Services Administration (HRSA) is contributing a $1 million grant as well as a $2.1 million earmark, and the health center is contributing its own cash investment.
The project will expand the existing clinic from 8,786 sq. ft. to 22,733 sq. ft. and reconfigure the existing space to better serve patients and staff. Notably, an elevator will be added, making the second floor accessible to all. The new facility will continue to house primary care services, dental, mental health, medication-assisted substance abuse treatment services, and a pharmacy. The project will enable the health center to serve 25% more patients, increase visits by 22%, and hire 18% more permanent staff to serve a larger patient base.
There is an impressive sustainability aspect to the project which will help meet VGMHC’s Path to Net Zero energy-efficient design and performance targets, established by the Energy Trust of Oregon (ETO). The health center worked with ETO, architects, engineers, and eco-construction professionals to develop plans to support energy efficiency goals set for the facility. VGMHC is also determining the feasibility of pursuing the Architecture 2030 Challenge that requires an 80% reduction in energy consumption. One of the eco-friendly aspects of the project is the addition of solar panels on the roof which will generate 89,000 kWh and substantially offset electricity usage for the entire building.
Virginia Garcia Memorial Health Center was founded in the mid-1970’s in a three-car garage after the health center’s namesake, a six-year old daughter of farmworkers, died from what should have been a treatable infection. Today, the health center provides services to over 43,000 patients per year in Washington and Yamhill counties at five primary care clinics and pharmacies, six dental clinics, a Women’s Clinic, and five school-based clinics. VGMHC also provides outreach to schools, community health fairs, and to migrant and seasonal farmworkers at local camps and commercial nurseries through their mobile clinic. The health center provides high quality, comprehensive, and culturally appropriate primary health care to the communities that they serve.
To learn more about Capital Fund’s loan products, including our LoanPlus program, please contact Brandon Boyle, Senior Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it..
Due to high patient demand at its 4725 Market Street location in San Diego, CA, Family Health Centers of San Diego (FHCSD)—one of the 10 largest health centers in the country—has embarked on a $24.6 million building expansion project, called The Diamond II – Family Counseling and Wellness Center. Capital Fund is proud to support this project with an $8 million New Markets Tax Credit (NMTC) allocation.
In addition to Capital Fund’s allocation, the project will also be funded through an $11 million NMTC allocation from Civic Communities Partners, Inc., and the health center’s cash on hand.
The Diamond II will be a five-story structure with four levels of parking topped by a 20,500-square-foot clinic, which will include a women’s health suite, a physical rehabilitation suite, and a mental health suite. The women’s health suite will consist of 12 exam rooms, two offices for perinatal case management, a fetal non-stress test room, as well as nursing and provider stations. The physical rehabilitation suite will consist of six chiropractic treatment rooms, five sports medicine treatments rooms, a large gym style physical therapy area, and provider stations. The mental health treatment suite will have 22 behavioral health therapy rooms and two behavioral health group treatment rooms.
The new clinic will allow FHCSD to increase annual patients by 25%, from 161,436 in 2022 to a projected 201,865 by 2030. Patient visits are also expected to increase by 31%, growing from 1.03 million in 2022 to nearly 1.4 million in 2030. This project will also grow community jobs, increasing FTEs from 2,054 to 2,716 in 2030—a 32% jump.
The Diamond II Center will be located in the Diamond I Center’s 85,000-square-foot parking lot. Both clinics will continue to operate upon completion of the Diamond II project, set to open in August 2024.
As one of the 10 largest Federally Qualified Health Centers (FQHC) in the United States, FHCSD operates 73 sites across San Diego County along with multiple mobile medical units. For 50 years, FHCSD’s mission has been to provide caring, affordable, high-quality health care and support services to the communities in which they operate. The health center is focused on identifying and improving the impact negative of social drivers of health on communities. This mission has resulted in FHCSD expanding beyond primary health care and into health research, housing, employment training, and job opportunities for its low-income patients and their families.
To learn more about Capital Fund’s loan products, including our LoanPlus program, please contact Brandon Boyle, Senior Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it..
As part of the CHARGE Solar Partnership with our affiliate, Capital Link, Capital Fund is providing lending opportunities to health centers looking to invest in solar energy options.
Purchasing Equipment:
Capital Fund will lend funds to health centers looking to purchase and install a solar system and/or battery energy storage. For those interested in learning more, please contact Brandon Boyle, Senior Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it., or Tim Murphy, Loan Officer, at This email address is being protected from spambots. You need JavaScript enabled to view it..
Leasing Equipment:
For health centers that prefer to lease solar and battery equipment rather than purchase, please contact Andrew MacCalla, CHARGE partner at Collective Energy, here. Capital Fund will lend Collective Energy the funds to support the purchase of this equipment.
The CHARGE Partnership is creating a nationwide resilient power and clean energy program for Federally Qualified Health Centers (FQHCs).
Motivated by the urgent need to tackle issues at the intersection of health equity, climate change, environmental justice, and financial and operational resiliency, CHARGE is working to create a clean energy solution that will support populations most vulnerable to power outages in areas disproportionately burdened by chronic disease, the impact of poverty, and racial and ethnic health inequities.
Healthcare Georgia Foundation has awarded Capital Fund a $500,000 Program Related Investment (PRI) to provide affordable loans to Georgia Federally Qualified Health Centers (FQHCs) to support the expansion of primary and preventive care services for low-income, underserved populations in Georgia.
As a result of this award, Capital Fund has increased its capacity to offer fixed rate and low-cost, term loans to Georgian FQHCs for facilities construction and equipment projects. These loans will enable FQHCs to efficiently and cost effectively sustain and expand the range of services they provide, including medical, dental, behavioral health, substance use disorder, vision, enabling, and other services designed to promote community wellness.
In addition, Healthcare Georgia Foundation has awarded Capital Fund a separate $50,000 grant to support Georgia FQHCs in learning more about capital project financing through trainings, meetings, and site visits. This grant will also support technical assistance offered through our LoanPLUS loan program.
Healthcare Georgia Foundation is a statewide, charitable organization whose mission is to enable, improve, and advance the health and well-being of all Georgians. For more information, visit healthcaregeorgia.org.
For more information about Capital Fund’s loan products, including this opportunity for Georgia health centers, please contact Brandon Boyle, Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it. or by phone at 617-988-2265.
Capital Fund provided Hudson Headwaters Health Network (HHHN) in Glens Falls, NY, a $5 million NMTC allocation to support their $20 million health center expansion project which just closed financing on May 2, 2023. HHHN's new site will establish a Program of All-Inclusive Care for the Elderly (PACE) facility to serve individuals ages 55 and older with multiple chronic health conditions but who can still live safely in the community.
The project includes the construction of a new 17,000-square-foot medical facility as well as a 14,000-square-foot PACE Center. HHHN’s existing clinic, located half a mile from the new sites, will continue to offer urgent care services. The new medical clinic will provide a larger, more comfortable space for patients and providers. The expansion project is expected to increase patients from 118,000 annually in 2022 to 155,500 in 2030, as well as grow visits from nearly 400,000 in 2022 to 525,000 in 2030. The new facilities are slated to be completed in September 2023.
The new PACE program will accommodate 80 to 100 participants on any given day and will include multi-purpose space for adult day care with health care and social activities, treatment and therapy rooms, food preparation and dining areas, and administrative offices. Participants in HHHN’s PACE program will receive their health care from a team of health professionals who continually assess, coordinate, and implement required services for each participant. This program, designed to serve the area’s aging and vulnerable patients, will include coverage for at-home skilled nursing care, doctor visits, personal care, physical and occupational therapy, meals, social day programs, prescriptions, specialty medical care, respite care to ease the strain on caregivers, transportation, and nursing home care if necessary.
In addition to the NMTC allocation from Capital Fund, this project was also funded through an NMTC allocation from Primary Care Development Corporation (PCDC), a grant from the NY Department of Health, and a cash contribution from HHHN.
Across its 21 locations, HHHN offers a full range of services including primary, dental, and mental health. The health center’s first site, in what would later be known as Hudson Headwaters Health Network, opened in Chestertown in 1974. Over the next few years, HHHN expanded to open clinics in Warrensburg, North Creek, and Indian Lake, before these four health centers officially became HHHN in 1981.
To learn more about Capital Fund’s loan products, including our new LoanPlus program, please contact Brandon Boyle, Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it..
Capital Fund contributed a $6 million NMTC allocation to Fair Haven Community Health Clinic (Fair Haven) in New Haven, CT, for the development of a new and modern 35,560-square-foot facility adjacent to its primary clinic. Fair Haven closed financing on the new space on April 26, 2023, which will allow the health center to expand its medical and behavioral health services, with special focus on pediatric and geriatric care.
The $39 million project will expand Fair Haven’s existing clinic, which is currently a set of four Victorian homes built in the 1800s that were renovated into a single health clinic structure. The new facility, which will expand the current health center’s size by 112%, will allow Fair Haven to serve nearly 6,300 more patients annually, growing from 32,000 to 38,000. The new space will allow the health center to expand its medical and behavioral health services, with special focus on pediatric and geriatric care.
The clinic will have 45 exam rooms, behavioral health and substance-abuse treatment areas, an in-house pharmacy, a computer room for a digital literacy program, and office and conference space. The project will also expand the parking lot to help meet the acute shortage of off-street parking. The project is expected to be completed by December 2025.
In addition to Capital Fund’s NMTC allocation, this project was also funded through a loan from Cambridge Savings Bank and a grant from the American Rescue Plan Act of 2021, as well as NMTC allocations from Urban Research Park CDE, The Community Builders, Massachusetts Housing Investment Corporation, and Capital One Community Renewal Fund.
Fair Haven, an FQHC serving the largely Hispanic neighborhood of New Haven through seven locations, provides care to nearly 32,000 patients annually through 124,000 visits, as well as part-time health care services in 10 local schools. Of the Fair Haven patients who reported their income, 93% are at or below 200% of the Federal Poverty Level. The organization offers a full range of primary medical, dental and behavioral health care, and has a majority minority board of directors.
To learn more about Capital Fund’s loan products, including our new LoanPlus program, please contact Brandon Boyle, Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it..
Capital Fund recently provided Shasta Community Health Center (SCHC) in Redding, CA, an $11 million New Markets Tax Credit (NMTC) allocation for the construction of a two-story, 31,400-square-foot Women, Babies, and Children Clinic to replace its existing maternity clinic. Our affiliate Capital Link led the financing and closing, which took place on March 28, 2023.
The new facility, located across the street from the health centers' main clinic, will replace SCHC’s existing maternity clinic and offer primary care pediatric, maternal, and vision care services. By integrating its maternal care services into its existing campus environment, the project will enable SCHC to allocate 7,400 square-feet of space to administrative services and allow for more efficient and expansive care opportunities.
The new clinic will have 24,000 square feet of clinical space, enabling the health center to serve approximately 13,000 patients annually. The project will also move the maternity care closer to the main site, compared to the former site which was 10 blocks from the medical campus. By relocating pediatrics and financial services departments to the new facility, the project will allow for more capacity in the main health center site for additional services and programs.
In addition to the $11 million NMTC allocation from Capital Fund, the project also received NMTC allocation from California Statewide Communities Development Corporation, as well as an NMTC allocation from Chase and a bank loan from Cooperative Bank, NA.
Since opening in 1988, SCHC has provided comprehensive, affordable primary health care, dental care, mental health, and substance abuse services to residents of all incomes in Shasta County and its surrounding communities. Through its seven locations throughout Shasta County, SCHC serves more than 34,000 patients annually, as well as provides care to over 3,200 homeless patients through its HOPE Mobile Health and Street Medicine outreach program.
To learn more about Capital Fund’s loan products, including our new LoanPlus program, please contact Brandon Boyle, Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it..
On April 11, 2023, Vice President Kamala Harris and Deputy Secretary of the Treasury Wally Adeyemo announced that the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund is awarding more than $1.73 Billion in response to economic impacts caused by the COVID-19 pandemic. We are proud to announce that Capital Fund is among the 603 CDFIs receiving an award. The $2.7M will enable Capital Fund to continue to provide affordable financing and technical assistance to FQHCs. Learn more about the CDFI award here.
If your health center needs additional funding for an upcoming expansion or renovation project, Capital Fund may be able to help. To learn more, please contact Brandon Boyle, Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it..