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.
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.
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.
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.
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.
On Friday, Oct. 28, 2022, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund announced that it awarded $5 billion in New Markets Tax Credit (NMTC) allocations to Community Development Entities to revitalize low-income communities and increase economic opportunity nationwide. We are proud to announce that Community Health Center Capital Fund received a $55 million NMTC allocation.
107 Community Development Entities were selected for awards from 199 applicants that requested an aggregate total of $14.7 billion in tax credit allocation. Approximately 78% of these NMTC investment proceeds are estimated to be used to finance and support loans to or investments in operating businesses in low-income communities. The award recipients are located in 35 different states and the District of Columbia. Over 20% of the investments will be made in rural communities. These award recipients are estimated to make nearly $1 billion in NMTC investments in non-metropolitan counties.
Capital Fund recently provided $2 million in financing to San Ysidro Health (SYH) in National City, CA, to support its $52.9 million health center project, which will include the first FQHC PACE (Program of All-Inclusive Care for the Elderly) facility in the city and ultimately reduce barriers to mobility and health care that reduce elderly patients’ quality of life.
Additional financing for this project included a source loan from National Cooperative Bank, a direct loan to the Qualified Active Low-Income Community Businesses (QALICB), and a furniture, fixtures and equipment loan. The remaining funds will be provided through New Markets Tax Credit equity as well as cash provided by SYH.
The new site is projected to serve over 14,000 patients and generate over 41,000 clinic visits in its first year. Eighty seniors are expected to enroll in the PACE Program in its first year with full enrollment totaling 650 seniors by 2030. Additionally, San Ysidro’s project is expected to create 115 permanent jobs at the new site. Overall, SYH anticipates they will serve over 61,000 additional patients and generate almost 500,000 additional clinic visits while creating over 2,100 new FTEs across all locations by the end of the compliance period.
The first floor of the new facility will be dedicated to the PACE services and will include 10 medical exam rooms. The second floor will be an FQHC, providing adult medicine, OB/GYN, pediatrics, dental, behavioral health, chiropractic, diagnostic laboratory, pharmacy medications, diagnostic radiology, social and support services, and eligibility assistance. SYH will also be providing desperately needed dental services as current capacity is far below demand. Additionally, the project will include three levels of below grade parking totaling 88,325 square feet and 267 parking spaces. Construction began in August 2022 and is expected to be completed in April 2024.
San Ysidro Health was founded in 1969 by seven mothers, now referred to as the Founding Mothers, in search of medical services for their children. Today, the FQHC has 50 clinic and program sites throughout San Diego County including 24 standalone clinics, five school-based clinics, two mobile clinics, and 10 program sites providing medical, dental, behavioral, and specialty services to almost 100,000 patients through over 230,000 visits. Of SYH patients who reported their income, 95% live at or below 200% of the Federal Poverty Level. Learn more about SYH here >
Via Care Community Health Center, headquartered in East Los Angeles, CA, is a well-known safe haven to its community, welcoming those most vulnerable—particularly undocumented immigrants and low-income second and third generation Hispanic/Latino patients. Recently, Capital Fund provided a $4.5 million direct loan to support the health center’s $5.4 million expansion to relocate and centralize all administrative services to increase operating efficiency overall to better serve its patients.
In addition to Capital Fund’s loan, funding for this project includes a cash contribution from the health center and a participation loan from BlueHub Capital.
Via Care will move all of its administrative operations from three current locations into one new property, thereby increasing administrative coordination. While this property will be used for administration purposes only, the new building will prompt a series of critical moves that will ensure increased availability of clinical and case management patient services to the community. Via Care currently operates 14 primary care clinics, a school-based wellness center at Garfield High School, and a Behavioral Health office. The purchase will allow for expansion of Enhanced Case Management (ECM) services, a Medi-Cal paid benefit designed to improve case management of patients who are frequent emergency room visitors.
Via Care anticipates a 43% growth in number of patients and a 62% increase in number of visits by FY2028. The number of sites will decrease since the new building will house the administration staff. This frees up space at the other existing facilities to increase clinical and case management patient services.
Via Care was founded in 2010 to address increasing lack of access to healthcare for low-income residents of East Los Angeles. In 2021, Via Care provided 96,008 medical, dental, and behavioral health visits to 17,277 low-income adults and children, a 58% increase from 2020 despite a challenging year due to the pandemic. Last year, the organization provided services to 17,277 patients through 96,008 visits. Eighty-nine percent of patients served in 2021 identified as Latino/Hispanic, and 90% of patients reported their income as 100% below the Federal Poverty Line. Learn more about Via Care here >
Though the remote town of Hāna is best known for being nestled along the famously scenic Hāna Highway—one of the most beautiful drives in the world—few may be aware that many of its native residents are medically underserved due to financial, cultural, and geographical barriers. As the only primary health care provider in the Hāna District in Maui County, HI, Hāna Community Health Center Inc., (Hāna Health) provides much needed health care services to its isolated Hawaiian community, of which 88% of residents live at or below 200% of the Federal Poverty Level.
Capital Fund recently provided $2 million in financing to support Hāna Health’s nearly $6 million clinic expansion to provide new services such as physical therapy, behavioral health, and telemedicine, which will help the center better meet patient needs. In addition to Capital Fund’s loan, financing included equity from the following sources: a HRSA Health Infrastructure Investment Program Grant, The Harry and Jeanette Weinberg Foundation, a 2019 state grant, Hāna Health reserves, The McInerny Foundation, and Hāna community donations.
The new clinic will include space for behavioral and mental health services, physical therapy, complementary and traditional healing medicine, cardiac rehabilitation, and healthy lifestyle and physical fitness programs for the prevention and management of chronic health conditions. The new facility will enable Hāna Health to hire eight new staff members, which will be a combination of direct employees and contract staff. Construction is slated to be completed at the end of 2022.
In 2020, Hāna Health provided services to 1,664 patients through 5,876 visits with 20 FTEs. The additional services provided in the new space will allow the center to increase patients by 36% (2,258 total) and visits by 79% (10,500 total). Approximately half of its patients are Native Hawaiians, 38% are White, and 12% are other races. Learn more about Hāna Health here >