Healthcare Georgia Foundation has announced its first five-year Program Related Investment of $500,000 to Community Health Center Capital Fund (Capital Fund), a nationally focused Community Development Financial Institution (CDFI) to provide low-cost, fixed rate, five- to seven-year term loans to Georgia’s Federally Qualified Health Centers (FQHCs).
“This is an important milestone that creates an exciting new path as we pursue our vision of achieving health equity for all,” said Gary D. Nelson, PhD, Foundation president. “By deploying our resources through strategic funding and financing, we are creating the conditions to address the social determinants of health and achieve even greater impact in our work to benefit Georgia’s vulnerable populations.”
The goal of the Foundation’s health impact investment to Capital Fund is to align its resources with the causes of poor health outcomes for Georgians, and generate a measurable, beneficial social impact with a financial return consistent with its mission, vision, and values.
Capital Fund, working with its affiliate Capital Link and the Georgia Primary Care Association, will help FQHCs access loans for construction and/or permanent financing for facilities, enabling them to sustain or expand a range of primary and preventive health services in an efficient, cost-effective manner. Capital Fund will seek to make these loans using sources of capital ranging from local banks to the New Markets Tax Credits program to magnify the impact of supporting the growth and development of FQHCs in Georgia.
“Capital Fund is proud to be able to provide Georgia health centers with access to affordable loans to help sustain and expand their services and reach a larger number of patients as a result,” said Brandon Boyle, Director of Loan Programs for Capital Link. “We are grateful to the Foundation for its support and its recognition of the important role CDFIs can play to help health centers build healthy communities in Georgia.”