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.
To learn more about Capital Fund’s loan products, including our new LoanPlus program, please contact Brandon Boyle, Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it..
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.
To learn more about Capital Fund’s loan products, including our new LoanPlus program, 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 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.
If your health center needs additional funding for an upcoming expansion or renovation project, Capital Fund may be able to help. To learn more, 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 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.
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 >
To learn more about Capital Fund’s loan products, including our new LoanPlus program, please contact Brandon Boyle, Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it..
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 >
To learn more about Capital Fund’s loan products, including our new LoanPlus program, please contact Brandon Boyle, Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it..
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 >
To learn more about Capital Fund’s loan products, including our new LoanPlus program, please contact Brandon Boyle, Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it..
Capital Fund and Capital Link are excited to announce Rebecca (Becky) Regan as its new Chief Executive Officer, following the retirement of longtime CEO, Allison Coleman, after nearly 30 years leading both organizations. Ms. Coleman will stay on as CEO over the summer to assist Regan's transition into her new role, and Regan will take the helm officially on September 1, 2022.
“What inspires me most about Becky is her drive, her creativity and curiosity and her commitment to improving the lives of low-income community residents,” Coleman said. “She is mission-driven at her core and has a deep interest in healthcare, FQHCs, and the ways they can partner with others to address the social determinants of health,” added James W. Hunt, Jr., Board Chair of both organizations.
Regan brings 25 years of experience working in community development to drive social sector change, coming from a background in management, strategy, leadership, finance and capital raising. In addition to driving innovations in health and housing within a network of 100 non-profit housing organizations and CDFIs across the U.S. in her previous roles, she also has served on the Capital Fund Board of Directors since 2014.
"I am honored to have been chosen to lead Capital Link and Capital Fund at a time in which the need for the growth and development of community health centers has never been greater. The two organizations uniquely combine the intellectual capabilities, data and insights from consulting work and access to capital resources. This combination creates rare opportunities for catalytic impact in the high-need communities health centers serve. I am excited to bring my energy and passion to both organizations, building on a strong foundation to inspire a new vision for the future,” she said of her drive for elevating Capital Link's mission.
Regan's previous work experience includes nearly 10 years as Executive Vice President of the Housing Partnership Network in Boston, as well as serving as the President of the Loan Fund at BlueHub Capital (formerly Boston Community Loan Fund) in Boston, where she was responsible for setting strategy, hiring and managing a team of lenders and raising capital for lending.
Over her expansive career focused on community development, she has raised over $400M in debt, equity, and grants for non-profit housing developers, CDFIs and social enterprises. As an executive leader she helped drive the creation of a $35M fund raised to purchase defaulted mortgages in low-income areas and work with homeowners to renegotiate their mortgage terms to allow them to stay in their homes at affordable monthly payments.
Regan was brought on as CEO following a national search by Koya Partners, an executive search firm that specializes in leading mission-driven searches at the senior level.
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 >
To learn more about Capital Fund’s loan products, including our new LoanPlus program, please contact Brandon Boyle, Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it..