Capital Fund Receives $55 Million NMTC Allocation to Support Health Centers
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.
This award will enable Capital Fund to increase lending to health centers seeking to finance facilities and operational growth to better serve their communities and expand access to care. Interested health centers should act now! If your health center needs additional funding for an upcoming expansion or renovation project, Capital Fund may be able to help. For questions, please contact Brandon Boyle, Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it..
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.