Capital Fund Supports Neighborhood Health Centers of the Lehigh Valley Expansion Utilizing LoanPLUS
Capital Fund recently provided financing for Neighborhood Health Centers of the Lehigh Valley (NHCLV)'s $3.87 million capital expansion in Allentown and Bethlehem, PA. NHCLV utilized Capital Fund's new LoanPLUS loan program, designed to meet the needs of smaller health centers and/or those with limited financial resources.
Financing for this project included a loan of $1,168,750 from Capital Fund, a loan of $956,250 from Community First Fund, and an NHCLV cash equity contribution of $1.46 million with an additional $601,074 in federal grant investments, including an American Rescue Plan Capital Projects Fund award. The loans are secured in part by a federal Loan Guarantee from the Health Resources and Services Administration.
For its Allentown renovation, NHCLV will renovate and expand the first floor of an existing 14,200-square-foot retail space into a similarly sized health center site. The construction will add 18 clinical and support rooms designed to facilitate team based care and health professionals’ education, triage/walk-in care, procedural rooms as well as a small dental pod and on-site pharmacy for the health center’s patients. The space will also include an education room and administrative support space.
The Bethlehem project will expand an existing site by 3,800 square feet in order to offer a full range of dental services, including preventative care, basic restorative including fillings, extractions, dentures, crowns and basic bridges as well as also adding an on-site pharmacy for the health center’s patients.
For more details about these NHCLV capital projects, click here.
Neighborhood Health Centers of the Lehigh Valley (NHCLV), the HRSA federally qualified Health Center Program Awardee in the area, operates four locations in Allentown, Bethlehem, and Easton, PA. Awarded this 330 Program designation in 2012, NHCLV serves the area’s low-income population. NHCLV offers a wide range of medical care including general well/sick care, pediatrics, behavioral health, and substance use disorder services. According to recent data of NHCLV's patients who reported their incomes, 67% were at 100% below the federal poverty line, 28% were between 101-200%, and 5% were over 200% below. Two-thirds of the health center’s patients are minorities, with 65% identifying as Latino/Hispanic and 78% preferring to receive care in a language other than English. Learn more about NHCLV here >