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Healthcare Georgia Foundation has awarded Capital Fund with a 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 will increase its capacity to offer low-cost, fixed rate, five- to seven-year term loans to Georgia FQHCs for facilities construction and equipment projects. These loans will enable FQHC borrowers 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. 

Loan recipients will also have access to training and technical assistance services from Capital Fund’s affiliate Capital Link, many of which are offered free of charge.
 
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, This email address is being protected from spambots. You need JavaScript enabled to view it. or by phone at 617-988-2265.

 

In August of 2018, Community Health Center Capital Fund (Capital Fund) participated in a financial closing to support a $15 million health center capital expansion project for Unity Care Northwest in Bellingham, WA.

Watch a progress update of the Unity Care Northwest expansion below: 

 

For more information about Capital Fund’s loan products, including New Markets Tax Credits, please contact Brandon Boyle, Director of Loan Programs, This email address is being protected from spambots. You need JavaScript enabled to view it. or by phone at 617-988-2265.

 

On February 28, 2019, Community Health Center Capital Fund (Capital Fund) completed $7.0 million in New Market Tax Credit (NMTC) financing for The Floating Hospital, Inc. to support its $7.5 million expansion and relocation of its main site in Long Island City, NY. As a Federally Qualified Health Center, The Floating Hospital family health network is New York City’s largest provider of primary healthcare services to families living in shelters and domestic violence safe houses, providing more than 61,000 patient visits annually. 

In addition to the tax credits provided by Capital Fund, project financing also included an investment and a loan from JPMorgan Chase, a grant from The Weinberg Foundation, and an equity contribution from The Floating Hospital, comprised of various donations and other grants.

Construction is scheduled to be completed by July 2019. The new 29,500 square foot facility is almost twice the size of the current site and will allow The Floating Hospital to expand its primary care, dental, behavioral health, and substance use disorder services, as well as provide specialty services such as optometry and ophthalmology. Each provider will be allotted two examination rooms, resulting in shorter wait times and increased access to care for the center’s patients. The new site will also provide increased space to support the health center’s shelter programs.

The project will allow The Floating Hospital to serve a projected 22,000 patients by 2026, compared to 12,000 in 2017. The renovated health center will provide space for 166 full-time employees, in addition to creating 112 construction jobs.

To learn more about The Floating Hospital, click here

For more information about Capital Fund’s loan products, including direct loans and New Markets Tax Credits, 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 February 20, 2019, Community Health Center Capital Fund (Capital Fund) provided a loan to Georgia Mountains Health Services, Inc. to support its business operations and a recently expanded facility in Chatsworth, GA.  

Capital Fund made a $590,800 five-year loan to provide permanent financing for the Georgia Mountains’ Chatsworth facility project. The new financing will improve the organization’s cash flow and allow management to focus on longer term financial planning. The Chatsworth clinic was expanded in 2017 in order to help meet the unmet demand for pediatric services in the community.

Georgia Mountains Health Services is a Federally Qualified Health Center operating in five counties in northern Georgia. In 2017, the organization served 12,000 patients at six locations, as well as at one school-based center. The organization offers a full range of primary medical, dental, and behavioral health care. Georgia Mountains is estimated to have created 122 jobs in the community, including 70 at the health center itself. The total economic impact generated for this largely rural community is $14.7 million, of which $7.1 million is direct health center spending and $7.6 million is spending in the community. These expenditures will equate to over $2 million in annual tax revenue.

To learn more about Georgia Mountains Health Services, click here

For more information about Capital Fund’s loan products, including direct loans and New Markets Tax Credits, 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 September 12, 2018, Community Health Center Capital Fund (Capital Fund) participated in the financial closing to support Esperanza Health Center’s $20 million expansion in northern Philadelphia, PA.

Capital Fund contributed a $8.5 million New Markets Tax Credit (NMTC) allocation for the renovation and expansion of a recently acquired property which will house a new Esperanza health center facility and community center. Project financing also includes a $10 million NMTC allocation from PIDC Community Capital, and the health center’s own cash investment.

With construction expected to be completed in August 2019, the new 35,000-square-foot facility will house a combination of medical, dental, and mental health services and allow for better integration of health and wellness programs. The renovated building will feature 24 exam rooms, eight dental operatories, and 11 mental health counseling rooms, as well as a community space with a classroom, centering/meditation room, and a café. The project also includes a parking garage which is being built on an adjacent lot.

Esperanza, which currently serves about 14,600 patients annually, will be able to increase its capacity to serve an additional 3,500 patients each year and add another 27 full-time employees by 2025.

With three locations in the Philadelphia, PA area, Esperanza has been providing care for nearly 30 years. To learn more, click here.

For more information about Capital Fund’s loan products, including New Markets Tax Credits, 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 September 19, 2018, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund announced the awardees of the FY 2018 Community Development Financial Institutions (CDFI) Program round. We are proud to announce that Capital Fund is among the 264 CDFIs receiving a Financial Assistance (FA) award. The nearly $875,000 award will enable Capital Fund to increase its lending for community health centers seeking to finance facilities and operational growth. Learn more about the CDFI program and the awards here.

If your health center needs additional funding for an upcoming expansion or renovation project, Capital Fund may be able to help. Contact Brandon Boyle, Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it..

 

  

On August 2, 2018, Community Health Center Capital Fund (Capital Fund) participated in a financial closing to support a $15 million health center capital expansion project for Unity Care Northwest in Bellingham, WA.

Capital Fund provided Unity Care with a $6 million New Market Tax Credit (NMTC) allocation that supports new construction to expand the health center’s capacity of existing services. Project financing also includes a NMTC allocation from Primary Care Development Corporation, a loan from US Bank N.A., and a cash investment from the health center.

Expected to be completed in May 2019, the new two-story, 20,000-square-foot facility in Ferndale, WA will replace an existing facility and include three pods of exam rooms, a larger dental unit with 10 operatories, medical assistant work areas, a pharmacy, and administrative office space. Unity, which currently serves about 21,000 patients annually, will be able to increase capacity to serve an additional 8,300 patients annually and add another 49 full-time employees by 2025.

Through four locations in the Bellingham, WA area, Unity Care Northwest has been providing care to residents for over 30 years. To learn more, click here.

For more information about Capital Fund’s loan products, including New Markets Tax Credits, please contact Brandon Boyle, Director of Loan Programs, This email address is being protected from spambots. You need JavaScript enabled to view it. or by phone at 617-988-2265.

 

 

On August 10, 2018, Community Health Center Capital Fund (Capital Fund) participated in the financial closing to support the development of a new $7.9 million health center facility for PrimeCare Community Health, Inc. in Chicago, IL.

Capital Fund provided a $7.8 million New Market Tax Credit (NMTC) allocation for the project, which is expected to be completed in January 2019. Financing also included a leveraged loan from National Cooperative Bank, NMTC-equity investment from PNC New Markets Investment Partners, and the health center’s own equity investment.

Once renovated, the 16,000-square-foot health center located at 5635 West Belmont Avenue will house 18 medical exam rooms and four dental operatories. The new site will also include space for comprehensive behavioral health services as well as services for substance-use disorders and medication-assisted-treatment for opioid use disorders. By the end of 2025, the project is expected to allow PrimeCare to serve an additional 7,000 patients with 25,000 additional visits (in 2017, PrimeCare served 20,103 patients).

Established in 1992, PrimeCare Community Health is a Federally Qualified Health Center with six health facilities located in Chicago, IL. Learn more about PrimeCare here.

For more information on our loan products, please contact Brandon Boyle, Director of Loan Programs, at 617-988-2265 or This email address is being protected from spambots. You need JavaScript enabled to view it..

 


Artist's rendering of Vecino Health Center's expanded Denver Harbor Family Clinic

On August 14, 2018, Community Health Center Capital Fund (Capital Fund) participated in the financial closing to support the $8.5 million expansion and renovation of two health center facilities owned by Vecino Health Centers (formerly Houston Community Health Centers, Inc.) in Houston, TX.

Capital Fund provided a $5 million New Market Tax Credit (NMTC) allocation and a $1.5 million leveraged loan for the projects. Financing also included a grant from the Health Resources and Services Administration’s Health Center Program, a NTMC-equity investment from JPMorgan Chase Bank, a leveraged loan from Partners for the Common Good, and the health center’s own equity investment.

Upon completion in September 2019, the updated facilities will provide Vecino Health Centers with an additional 11,000 square feet of new space and 4,000 square feet of renovated space and expand its capacity to provide adult and pediatric medical, dental, and behavioral health services. By the end of 2025, the project is expected to allow the Vecino to serve an additional 7,000 patients and employ an additional 18 full-time employees.

Incorporated in 1999, Vecino Health Centers is a Federally Qualified Health Center operating two health facilities in Houston, TX. Click here to learn more about Vecino.

For more information on our loan products, please contact Brandon Boyle, Director of Loan Programs, at 617-988-2265 or This email address is being protected from spambots. You need JavaScript enabled to view it..