Recently, Capital Fund participated in a loan that will support the construction of a $37 million, 73,833-square-foot building to house a Program of All-inclusive Care for the Elderly (PACE) center as well as an urgent care center for San Ysidro Health (San Ysidro) in San Diego, CA.
Turner Impact Capital (TIC), a social impact investment company helping to revitalize and stabilize neighborhoods by constructing healthcare, is developing the project as well as investing $14.5 million. Financing will also be provided through a $21.5 million loan from National Cooperative Bank (NBC) and $1.2 million from the health center. Capital Fund will purchase $3.6 million of the $21.5 million loan.
The $37 million project includes the acquisition and redevelopment of a three-story, 73,833-square-foot building and its adjacent surface parking lot located at 404 Euclid Ave, San Diego, CA. Once completed, the ground floor will consist of a 17,000 square-foot PACE facility and a 10,000-square-foot urgent care center. The second and third floors are partially occupied by 21 tenants in month-to-month leases and who will remain in place until they choose to vacate their units. San Ysidro envisions eventually occupying 100% of the space but will offer all tenants a one-year lease at current rental rates.
San Ysidro is the second largest health center in San Diego region, with over 145,000 patients and nearly half a million patient visits per year. Eighty-eight percent of the health center’s patients identify as a racial and/or ethnic minority and 73% identify as Hispanic/Latino. Twenty percent of their population are considered seniors, and this number is projected to grow rapidly. San Ysidro is the fourth largest Federally Qualified Health Center (FQHC) PACE provider in the nation, with over 3,000 patients.
San Diego PACE, a division of San Ysidro Health, Inc., is a specialized program that provides high quality, compassionate care to adults aged 55 and older. Services are provided and coordinated by a team of geriatric specialized health care professionals who are bilingual and highly experienced in senior care. PACE is a national program that provides a comprehensive package of services to help enable elders to successfully remain in their homes. The program provides services to accommodate all aspects of the patient’s health including medical transportation, implementation of safety measures, and provision of food through meal services. PACE coordinates and provides high-quality preventive, primary, acute, and long-term care and social services for frail, community-dwelling elderly individuals, most of whom are dually eligible for Medicare and Medicaid benefits.
To learn more about Capital Fund’s loan products 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..
When traditional banks couldn’t provide a loan with favorable terms to McCloud Healthcare Clinic, Inc., (dba Shasta Cascade Health Centers or SCHC) while the health center waited on a $746,892 employee retention credit (ERC) from the IRS, Capital Fund stepped in to help—despite the perceived risks.
In September 2024, a short-term $750,000 working capital loan from Capital Fund enabled SCHC to not only keep up with payroll and supply costs, but also continue providing essential services across Northern California’s Siskiyou County uninterrupted while waiting on the ERC.
After filing a Form 941-X with the IRS in February 2024, SCHC reached out to several traditional banks seeking a temporary loan, but all options offered impractical terms that would only dig the health center further into a financial hole. Though this loan was considered riskier than most and not designated for a health center project as is typical for most Capital Fund-supported projects, Capital Fund decided to pursue this opportunity because of its alignment with their mission of supporting health centers.
In addition to maintaining operational costs, the financial stability provided from this loan will enable SCHC to increase number of patients and visits by 47% and 50%, respectively, by 2025. Permanent Full-Time-Equivalent (FTE) employees are also expected to grow by 15%.
Founded in 2000, SCHC offers a full range of primary medical, dental, and behavioral health care through its three sites in Dunsmuir, McCloud, and Mount Shasta, California. As a Federally Qualified Health Center (FQHC), SCHC employs 38 Full-Time Equivalent (FTE) employees who served 4,179 patients across 19,139 visits in 2023. As a comprehensive primary healthcare provider, SCHC is committed to providing community health care services in a friendly, compassionate, and caring environment.
To learn more about Capital Fund’s loan products 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..
A recent $3.6 million loan from Capital Fund will support an $7.3 million renovation for Delaware Valley Community Health, Inc. (DVCH) to enhance its range of service offerings across two buildings, house its new residency program, and update equipment for its Medication Assisted Treatment (MAT) program.
This project was funded in part by a $4.7 million source loan, with $3.6 million from Capital Fund and $1.1 million from Philadelphia Industrial Development Corporation (PIDC). PIDC also provided a $5 million NMTC allocation.
This renovation will update the health center’s spaces at both its 1411 and 1412 Fairmount Avenue locations, the first of which is already complete. The 1411 Fairmount Avenue renovation enhanced the clinic’s workspaces, meeting rooms, resident training facilities, and technology for IT and staff. The 4,400 square-foot space also houses the health center’s Graduate Medical Education department, recently welcoming its first class of residents to its Family Practice Residency Program. With the completion of the new training facility, DVCH is now the first Teaching Health Center (THC) of Philadelphia.
The new 18,000-square-foot space at 1412 Fairmount Avenue is set to be finished in May 2025, offering adult medicine, pediatrics, dental, obstetrics, gynecology, behavioral health, a physician medication dispensary, and care coordination. DVCH is also updating its pharmacy distribution equipment for its MAT program, located within the Girard Medical Center, which was recently recognized as an Opioid Center of Excellence.
In 2023, DVCH delivered care to 49,761 patients through 162,432 visits, from 338 Full-Time Equivalent (FTE) employees at its 10 sites. Of the health center’s patients who reported their income, 96% are at or below 200% of the Federal Poverty Level. With this project, patients are expected to grow by a stark 41% by 2031, to an estimated 69,973 annually. Number of visits is also expected to increase 33% by 2031 to 216,045, significantly expanding access to care in this service area.
To learn more about Capital Fund’s loan products 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..
Capital Fund is proud to provide a $2 million loan to Brazos Valley Community Action Agency, Inc., dba HealthPoint (HealthPoint) for two projects bringing full-time jobs and never-before offered services to rural Texas communities, where nearly all the health center’s patients are living below 200% of the Federal Poverty Level.
In 2023, HealthPoint delivered care to 46,992 patients through 147,897 visits with 285 full-time equivalent (FTE) employees across its 23 locations. Of the patients who reported their income, 98% are living at or below 200% of the Federal Poverty Level. Capital Fund’s recent source loan will support HealthPoint’s renovations, totaling $9.6 million, at its sites in both Madisonville and Hearne.
In addition to Capital Fund’s loan, funding for these renovations includes a $4.5 million New Market Tax Credits (NMTC) allocation from PNC Bank and a $4 million NMTC allocation from PeopleFund.
Madisonville Site
In 2022, HealthPoint purchased a new building to replace their existing Madisonville site, which operated within a hospital and was prone to flooding. Their new 6,790-square-foot location has not only expanded and enhanced current services, but also increased access to care for the rural Madisonville community. In addition to offering family medicine, obstetrics, and behavioral telehealth service, the new space will allow part-time specialists, such as pediatrics, which has further expanded service offerings and support better health outcomes for patients.
The renovated clinic sits in the southern half of downtown Madisonville, on one of the main thoroughfares of the city.
Hearne Site
Perhaps the largest impact of HealthPoint’s Hearne project, set to be completed in May 2025, will be their new dental services, which otherwise do not exist in the community. Though still under construction, the new 7,680-square-foot site will consolidate and replace two small, leased buildings that have accessibility challenges and are in need of repair. With this renovation, patients will be better served with integrated services—including family medicine, women’s health, behavioral health, pediatrics, chronic care management, internal medicine, and telehealth—under one roof and in an easily accessible, centralized location. The clinic is located in a mostly residential neighborhood about .2 miles from Brookshire Brothers Pharmacy and 500 feet from City Hall and other downtown businesses.
The total project will retain 25 FTE jobs while creating 11 new FTE jobs. The project will also grow HealthPoint’s number of patients, across all 16 full site clinics —up from 14 with the addition of Madisonville and Hearne— from 47,100 in 2024 to 55,705 in 2031—a 8% increase. Visits are also expected to increase by 8%, from 145,014 in 2024 to 171,507 in 2031. With the increased employment opportunities, accessible care locations, and the addition of dental services in an area where they were previously not available, these expansion projects will likely be life-changing for residents of Madisonville and Hearne, Texas.
To learn more about Capital Fund’s loan products 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..
Capital Fund is proud to announce the successful closing of an $8.5 million New Markets Tax Credit (NMTC) allocation for Wheeler Clinic, Inc. (Wheeler). Established in 1968 and designated as a Federally Qualified Health Center (FQHC) in 2015, Wheeler has been at the forefront of providing a comprehensive continuum of care across Connecticut. The health center offers primary care, behavioral health, special education, community justice, child welfare, early childhood prevention, wellness, and recovery services to patients of all ages.
Expanding Healthcare Access in Bristol, CT
Wheeler’s latest expansion project involves the construction of a state-of-the-art 48,439-square-foot facility in Bristol, CT. This new location, strategically situated across the street from Wheeler's existing Bristol Health and Wellness Center and 0.4 miles from the Bristol Behavioral Health Center, will consolidate these two smaller sites and relocate Wheeler's administrative offices from Plainville, CT.
Key Features of the New Facility:
- Primary Care and Behavioral Health Services:
- 12 primary care exam rooms
- 18 rooms for behavioral health/psychiatric intakes and individual sessions
- Four treatment rooms for individual, family, and group sessions
- A chiropractic exam room
- A teaching kitchen for nutritional education
- Community and Administrative Space:
- 34,939 sq. ft. dedicated to community programs, administrative offices, and training/conference rooms
Addressing Community Needs
Located in a medically underserved area and a primary care professional shortage area, the new facility will significantly enhance healthcare access for the community. With over 70% of patients considered low-income with pre-existing conditions, Wheeler's expansion will provide critical services, including:
- Integrated behavioral health for children/adolescents and adults
- Pediatric and adult primary care
- Care management
- Child/adolescent and adult psychiatric care
- Medication-assisted treatment for substance use disorders
The new site addresses a significant unmet need in Bristol, where nearly 14,418 low-income residents currently lack access to health center services. The facility's state-of-the-art amenities and expanded services will ensure comprehensive care for the most vulnerable populations.
Economic and Community Impact
The development of Wheeler’s new facility also plays a vital role in the economic revitalization of downtown Bristol. The site, which has been vacant for more than 20 years, will now become a cornerstone of community development. As a state-funded behavioral health trainer for state employees and non-profit providers, Wheeler anticipates an influx of 50-100 trainees visiting the site weekly, contributing to the local economy and supporting nearby developments, including mixed-use and apartment projects.
Capital Fund's Commitment
This transformative project was made possible through the collaborative efforts of Capital Fund, US Bank/Twain, and Thomaston Bank, resulting in a total project budget of $25.7 million. Capital Fund's $8.5 million NMTC allocation has been instrumental in bringing Wheeler’s vision to life, with the facility set for completion in July 2024.
Schedule a free consultation with Brandon Boyle, Senior Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it. to learn how we can support your health center’s planned expansion.
Recently, the successful completion of a $2.5 million working loan from Capital Fund enabled Albany Area Primary Health Care, Inc. (AAPHC) to replenish cash reserves used to cover costs of two health center expansion projects, increasing access to care in underserved areas of southwest Georgia.
Founded in 1979, AAPHC is the largest community health center in the region, serving a diverse population across Baker, Calhoun, Crisp, Colquitt, Dooly, Dougherty, Lee, Thomas, and Terrell counties. With 22 locations and 11 school-based health centers, AAPHC provides a comprehensive range of services, including primary care, internal medicine, family medicine, pediatrics, OBGYN, podiatry, dentistry, vision care, behavioral health, and pharmacy services.
Projects Funded
Lee Health Center, Leesburg, GA
In response to substantial population growth in Lee County over the past 15 years, AAPHC transformed their long-time location, Lee Medical Arts Center, into a brand new 16,000-square-foot health center. This modern facility, which opened in May 2023, replaced the original, smaller clinic, which had operated since 1979. The new site, purchased for $800,000 and renovated at a cost of approximately $2.2 million, was funded entirely from AAPHC’s cash reserves—which were replenished by Capital Fund’s $2.5 million contribution.
Lee Health Center now offers expanded services beyond primary care for adults and pediatrics, including dental, optometry, podiatry, behavioral health, and an in-house pharmacy. The clinic anticipates serving over 30,000 patients in its first fiscal year, a significant increase from the 19,000 patients served at the previous facility. This growth is expected to generate an additional $1.3 million in annual revenue.
Dawson Medical Center, Dawson, GA
Thanks to a generous land donation from the chairman of the health center’s board, AAPHC constructed a new 9,000-square-foot clinic in Dawson, GA. This new facility, which doubled the size of the previous clinic leased from Phoebe Putney Memorial Hospital, was built at a total cost of $2 million. However, the award of a $1 million grant reduced the health center’s financial burden to $1 million.
The Dawson clinic now provides family medicine, pediatrics, dentistry, behavioral health, and optometry services. In FY2023, the larger facility recorded just over 10,000 patient visits, a 30% increase in the clinic’s patient visits.
AAPHC’s Impact
In 2022, AAPHC’s 390 full-time equivalent staff members served 49,139 patients through 195,742 visits. Ninety-seven percent of AAPHC’s patients who reported their income were at or below 200% of the Federal Poverty Level, underscoring AAPHC’s essential role in providing accessible healthcare to underserved populations.
Schedule a free consultation with Brandon Boyle, Senior Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it. to learn how we can support your health center’s planned expansion.
With support from Capital Fund, Community Health Care Systems, Inc. (CHCS), has further extended its reach in providing care in rural, medically underserved areas in Central Georgia with the addition of a 19th clinic site. Capital Fund is proud to contribute $2.5 million to this $3.6 million project.
CHCS is a Federally Qualified Health Center (FQHC) operating in 14 counties in Central Georgia through soon-to-be 19 locations. In addition to Capital Fund’s loan, financing for this project also includes $1.1 million from Primary Care Development Corporation (PCDC).
Slated to be completed in fall 2024, the new 11,500-square-foot building will primarily serve as administrative offices, while also housing their behavioral health hub and newly-added chiropractic services—an offering made possible by this project. The new building will also have an X-Ray room, saving patients a trip to the nearby hospital. The project is estimated to increase patient visits by 86%, from 65,083 in 2021 to a projected 121,350 in 2031.
The clinic will have a dedicated board room as well as training room that will not only serve CHCS employees but also the greater community, with the health center offering educational programs. The administration building will have two reception areas, multiple offices, conference rooms, break rooms, a kitchen, space for cubicles, an IT room, and ample storage options—a feature not available in their nearby Tennille location. By moving administration to the new site, CHCS will free up space at their Tennille site to introduce optometry services. With the new service offerings and the construction of the new site, full-time equivalent employees (FTEs) are estimated to increase 15% by 2031.
CHCS was incorporated in 1992 to develop and administer comprehensive health care and support services to residents in and around their counties. Additionally, CHCS also provides health education, disease prevention programs, community outreach, and enrollment services. CHCS believes everyone is entitled to quality care that meets their needs regardless of their ability to pay.
For a free consultation about how Capital Fund can support your planned expansion, 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..
Community Health Development, Inc. (CDHI)’s recent $16.4 million capital project in Uvalde, TX, is not only expanding area health services, but also investing in the future of its young community members. In addition to growing its medical, dental, behavioral health, preventative health, and pharmacy services, the expansion will also introduce a workforce development program for local youth. Capital Fund is proud to contribute both a $3.4 million source loan and a $200,000 direct loan to this project.
Construction is currently underway for the new, modern 16,000-square-foot primary care clinic, which will expand patient services, provide support and educational services to staff, and serve as a community resource to other non-profits in Uvalde. The integration of medical and social services in one location will be a long-awaited convenience due to limited local transportation options.
In addition to Capital Fund’s contribution, the project is also being financed through a $16 million New Markets Tax Credit (NMTC) allocation from TransPecos Development Corp.
The new health center will consist of six medical exam rooms, three dental operatories, a behavioral health office, a clinical work area for medical providers and nurses, a dental work area, a lab, pharmacy, medication room, two sterilization rooms, and an enabling services office. It will also house an office space with eight workstations and two administrative offices, a workforce development area and internet café, seven offices dedicated to legal aid and social services, a large lobby, training and meeting rooms, a breakroom, kitchen, and multiple storage areas.
Partnering with Big Brothers Big Sisters of America, the health center will offer a program that allows youth to use virtual reality to explore various career choices and emerging technologies. Nearly all non-provider staff for the health center will be hired from the local community, offering competitive, livable wages compared to other large employers in the area. Additionally, CHDI is working with the state PCA as one of five health centers engaged in a pilot apprentice program focused on training medical assistants. If successful, this program will expand to include dental assistants and pharmacy technicians.
In 2022, CDHI delivered care to 11,709 patients across 44,751 visits through 121 full time equivalent employees (FTEs) at five locations. Of the patients who reported their income, 85% were at or below 200% of the Federal Poverty Level. Per the 2020 census, Uvalde County has a total population of 24,565, and it is estimated that 19% of the population lacks health care coverage. However, due to Uvalde’s proximity to the Mexican border, there is a large migrant population not always reflected in census data, leading CDHI to estimate a higher actual population.
The new health center is located in a medically underserved area with a 32.50% poverty rate and an unemployment rate 1.81 times the national average. As a Federally Qualified Health Center (FQHC), CHDI is dedicated to serving all patients regardless of their ability to pay. The health center strives to be the provider of choice for their community blending comprehensive patient-centered services, staff engagement, the latest technology, community partnerships, and strategic relationships.
For a free consultation about how Capital Fund can support your planned expansion, 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 a groundbreaking move for sustainable healthcare, Capital Fund is excited to support Collective Energy Company, LLC, with a strategic loan aimed at enhancing environmental and health outcomes. This partnership marks a pivotal moment, showcasing our commitment to innovative solutions that address both health and environmental challenges.
Collective Energy, based in Ojai, California, has embarked on a mission to equip 23 Federally Qualified Health Centers (FQHCs) with state-of-the-art solar and energy storage systems. The project, valued at approximately $8.6 million, leverages solar tax credits covering 30% to 50% of the system costs, making these vital upgrades accessible and affordable.
Capital Fund has provided a $5 million loan, with $3 million funded directly by us and an additional $2 million potentially sourced from a participating lender to meet the project's full financial needs. The Kresge Foundation has generously offered a 20% guarantee for the loan, reinforcing the financial stability and sustainability of this initiative.
The solar systems will enable health centers to purchase power at rates equivalent to their current electrical expenses, with the option to buy the systems after six years. This not only ensures financial predictability but also contributes to significant environmental benefits. We are currently exploring metrics to quantify the environmental impact of our loans, such as kilowatt-hours produced and the equivalent number of trees saved.
This project serves as a model for future initiatives that aim to integrate sustainability into community health efforts. By reducing operational costs and minimizing environmental impact, Collective Energy is setting a new standard for how health services can contribute to a healthier planet. Learn more about Collective Energy here >
To learn more about how Capital Fund and our affiliate Capital Link are innovating at the intersection of health and environmental sustainability, and to stay updated on our projects, visit chargepartnership.org. You can also contact Brandon Boyle, Director of Loan Programs at Capital Fund, at This email address is being protected from spambots. You need JavaScript enabled to view it..