Capital Impact Announces Low Cost Community Health Center Financing in California
Capital Impact Partners is pleased to announce a Request for Applications to the California Community Health Center Financing Program. This low-cost financing program has been created to specifically support community health centers throughout California by The California Endowment (TCE), Community Health Center Capital Fund and Capital Impact Partners. Flexible loans at 4% interest rate are available to finance facility projects and/or equipment purchase.
Community health centers that are nonprofit, tax-exempt clinics licensed as community or free clinics, as defined under Section 1204 of the California Health and Safety Code are eligible. They may be Federally Qualified Health Centers (FQHCs) or FQHC Look-Alikes, as well as school-based health centers or mental health centers operated by FQHCs or FQHC Look-Alikes.
Preference will be given to the following communities selected that are part of TCE’s Building Healthy Communities plan: Boyle Heights, City Heights, East Oakland, Richmond, Santa Ana, Eastern Coachella Valley, South Los Angeles, East Salinas (Alisal), Sacramento, South Kern County, Central/West/Southeast Fresno, Del Norte and Adjacent Tribal Lands, Long Beach and Southwest Merced/East Merced County.
The goals of this initiative are to:
1. Increase access to quality preventive and health care services provided by community clinics and health centers as a means to improve health status;
2. Spur economic development that supports healthy communities; and,
3. Encourage innovation in the way health care is organized and delivered.
More than a third of community health centers need to build or purchase new facilities. Innovative lending partnerships such as these are part of Capital Impact Partner’s strategic focus to meet this need and increase access to quality primary care for low- and moderate-income populations nationwide.
“Increasing access to capital for health care facilities that provide whole person centered care is critical to building healthy, vibrant communities,” said Terry Simonette, president and Chief Executive Officer of Capital Impact Partners.
For more than 20 years, Capital Impact Partner’s has brought together capital and capability from public, private and philanthropic resources to meet this large-scale social need, becoming a market leader among community development financial institutions. This includes $715 million in financing to 500 community health centers, providing 1.7 million patients with access to health care each year.
More about this work is available online at https://www.capitalimpact.org/our-focus/health-care/.
The deadline to submit an online application is 12 p.m. (PST), July 31, 2014.
Visit http://www.calendow.org/grants/ for more information and the application.
About Capital Impact Partners:
Capital Impact Partners is a leader in financial and social innovation for communities. A non-profit community development financial institution, we deliver new ways of investing in people and programs that deliver social change and solid financial returns. Through our roots in cooperative development, a diverse network of partners and problem solving know-how we connect capital and capabilities to build health, vibrant communities —where people have access to quality health care, affordable housing, healthy foods, and quality public education; where people can age successfully in the communities they call home; and where people can live independently and yet their lives are inextricably bound as part of something bigger. Headquartered in Arlington, VA, Capital Impact Partners operates nationally with local offices in Detroit, MI and Oakland, CA. Read more at www.capitalimpact.org.
