Community Health Center Capital Fund
Transcript of Community Health Center Capital Fund
www.chc-capitalfund.org
Community Health Center Capital Fund
Community Health Center Capital Fund (Capital Fund) supports the growth and development of
community-based health centers serving low-income and uninsured populations by providing capital
structured to meet health centers’ needs. As a certified community development financial institution
(CDFI), Capital Fund offers targeted direct loans to health centers for capital financing, equipment, and
operational requirements. In addition to lending its own capital, Capital Fund manages several health
center loan programs utilizing capital raised from third parties. Drawing on decades of experience with
health centers, Capital Fund also provides underwriting services and helps facilitate favorable tax credit
financing. Capital Fund seeks to leverage its loans and programs through relationships with multiple
external sources of capital, which together can meet the capital financing needs of health centers. One
of Capital Link’s founding partners, Capital Fund, now serves as its lending affiliate.
CDFI Story: Care Resource, Miami, FL
Care Resource was founded in 1998 following a merger between Health Crisis Network and
Community Research Initiative, two research institutions that led the fight against AIDS in the
epidemic’s early days. Today, Care Resource operates five health centers across Miami and South
Florida. In June 2019, Care Resource broke ground to transform its existing 22,000 sq. ft., two-
story Midtown Miami headquarters building into a 55,000 sq. ft., seven-story community health
center. Once completed in early 2021, the reconstruction project will enable the facility to house an
additional 14 exam rooms, 10 dental stations, and a 1,271 sq. ft. retail pharmacy. Financing for
Care Resource’s $34 million expansion included NMTC and a direct loan from Capital Fund, a
NMTC equity investment and loan from Primary Care Development Corporation, a Health Center
Program grant from the Health Resources and Services Administration, a loan from National
Cooperative Bank, and the health center’s own cash investment.
Financial and Social Impact
• 17 states have received loans for health centers from Capital Fund, totaling $110 million
• $227 million leveraged from other sources to complete project financing
• 732,000 sq. ft. of construction by health centers in high need communities made possible by Capital Fund financing
• 2,077 construction jobs supported
• 1,366 health center jobs projected to be created upon completion of current projects
• More than 309,000 patients projected to receive services annually by health centers financed by Capital Fund
40 Court Street, 10th Floor
Boston, MA 02108
Phone: 617.988.2230
Fax: 617.542.0191
Contact
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August 2020