Thursday, June 5, 2014

Low-Cost Financing Opportunity for California Clinics and Health Centers

The California Endowment (TCE) has just released a request for application for a new round of low-cost financing to qualifying California community clinics and health centers with capital expansion plans.

Program-related Investments (PRI) from TCE combined with capital from Community Health Center Capital Fund (Capital Fund) and Capital Impact Partners will provide loans of up to $5 million. Preference will be given to health centers located within one of the 14 California communities that are part of TCE's 10-year Building Healthy Communities plan, but others may also apply. Acceptable uses of funds include land and building acquisition, new construction or renovation, leasehold improvements, and equipment purchases. Applicants must be California-based, non-profit, and tax-exempt community clinics and health centers.

The application deadline is July 31, 2014. An applicant conference call will be scheduled for mid-June. Click here to access the online application and specific details, including eligibility requirements, investment criteria, and financing terms.

Capital Link provides assistance with several of the requirements for this application such as financial projections, business planning and finance packaging, capital project planning, and market and impact analyses. For more information on how we may be able to help, please visit our website or contact Mark Lurtz, Senior Director of Marketing and Project Consulting at 636-244-3082 or mlurtz@caplink.org.