Community Health Centers
More than 60 million Americans have no access to a primary care provider. In low-income communities, emergency rooms are too often the only option for those in need of health care services. This costs both the patient and taxpayer more money, and doesn’t address the underlying health issues or provide preventative care.
For decades, we’ve brought our financing expertise to communities in need to help build community health centers that provide much-needed primary, preventative and specialized care to low-income adults and children.
The California Endowment
Last year, we partnered with The California Endowment and Capital Link to provide flexible, below-market financing opportunities to community health centers in California.
The California Endowment has developed a PRI program with the goal of improving the health of vulnerable populations and low- to moderate-income communities. Through this program, Capital Impact and Capital Fund (an affiliate of Capital Link) are providing below-market loans with interest rates between 2.5 percent and 4 percent to finance facility projects, equipment purchases and working capital. In 2013, we deployed $7.4 million and financed four health centers, helping serve an additional 20,000 patients. We are currently underwriting three additional loans for a total of $7.8 million, which are expected to close this year.
Along with our partner, the Opportunity Finance Network, we are delivering specialized training workshops and technical assistance across the country to help CDFIs develop the skills to successfully finance community health centers in medically underserved markets. With funding provided by the Treasury Department’s CDFI Fund, the training series provides comprehensive capacity-building services and resources for small and emerging CDFIs, tailored to CDFI needs and the communities they serve, with the goal of filling the gaps in CDFI coverage in communities across the country.