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Financial Institutions & Development Organizations
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Capital Link

In addition to being a source of capital development consultation, Capital Link is also a Community Development Financial Institution (CDFI). In addition to working with commercial lenders, it periodically receives allocations of New Markets Tax Credits and integrates them into project financial strategies.

Working nationally out of its offices in Massachusetts, California, District of Columbia, Maryland, Missouri, Washington, and West Virginia, Capital Link has assisted Health Centers in obtaining grants and loans for approximately 174 capital projects totaling over $721 million. Through this network, and as a National Association of Community Health Center (NACHC) partner, Capital Link is able to address individual Health Center capital project needs more readily. For information on working with Capital Link contact:

 

For more information, contact:
Mark Lurtz, Senior Director of Marketing & Project Consulting
2158 Roselake Circle, Cottleville, MO 63376
636.244.3082
mlurtz@caplink.org
www.caplink.org
www.nachc.com/hc-capital-development.cfm

 

Capital Impact Partners

Capital Impact Partners is a national leader in financial and social innovation for communities. A non-profit community development financial institution, we bring our roots in cooperative development, diverse network of partners and problem solving know-how to connect communities to capital and capabilities that together create social change nationwide. Capital Impact has been lending to community-based health care organizations for nearly 30-years. We have disbursed more than $715 million in loans to almost 500 clinics nationwide.


For more information, contact:
Ian Wiesner, Senior Loan Officer
Capital Impact Partners
2990 W Grand Blvd, Suite M-15, Detroit, MI 48202
313.230.1116 office
313.405.4969 cell
IWiesner@capitalimpact.org
www.capitalimpact.org

 

IFF

One of America’s leading nonprofit community development financial institutions (CDFI), IFF strengthens nonprofits and their communities through lending and real estate consulting. With more than $270 million of total managed assets, IFF has been a trusted partner in every sector including health care, education, child care, housing and healthy food access.

 

Since 1988, through IFF loans and real estate consulting, nonprofits have renovated and constructed more than two million square feet to house their programs and services, and saved millions of dollars in fees and interest that instead contributed to their long-term financial health. IFF continues to strengthen the nonprofit sector and promotes community development finance through public policy and research.

 

IFF serves the Midwest with offices in Illinois, Indiana, Missouri and Wisconsin. IFF’s Michigan office is in Detroit. Michigan operations are led by Kirby Burkholder, Eastern Region Director. Kirby was formerly IFF Executive Director, Missouri, overseeing Missouri and Kansas. He is joined in Detroit by Ja’Net DeFell. She is IFF’s Director of Real Estate Services and is available to assist organizations in planning for and executing facilities projects.

 

Click here to learn how IFF can make a difference for your organization, and visit the IFF website for more information.

For more information, contact:
Kirby Burkholder, Executive Director-Eastern Region
IFF
3011 W Grand Blvd, Suite 175, Detroit, MI 48202-3000
Office: 313.309.7820
Cell: 773.480.1403
kburkholder@iff.org

 

Ja’Net DeFell, PMP, LEED Green Associate, Director of Real Estate Services
IFF
3011 W Grand Blvd, Suite 175, Detroit, MI 48202-3000
Office: 313.309.7821
jdefell@iff.org

 

Local Initiatives Support Corporation (LISC)

The Local Initiatives Support Corporation (LISC) is a national organization dedicated to helping community residents transform distressed neighborhoods into healthy and sustainable communities of choice and opportunity—good places to work, do business and raise children. Community projects include but are not limited to for-sale and rental housing, community facilities (health care facilities, playing fields, schools, and daycare centers), and economic development projects including industrial, office, and retail uses.

LISC mobilizes corporate, government and philanthropic resources to support these projects via creative and flexible financial products, grants and equity investments. In addition, LISC can be a policy resource at the local, state and national level as well as a provider of technical and management assistance for community development groups. After successfully financing the Community Health and Social Services (CHASS) Center project in Detroit and other FQHCs across the country, LISC has a specific interest in financing more community health center projects.

Through a partnership with the Kresge Foundation and Morgan Stanley, LISC manages the Healthy Futures Fund, making $100 million in Low Income Housing Tax Credit and New Markets Tax Credit driven financing available to FQHCs and developers of affordable housing. LISC has a national office for FQHC development. 

 

For more information, consultation, or technical assistance contact:
Emily Chen, Director of FQHC development (Health Center Financing/Health Futures Fund)
212.455.9882 
EChen@lisc.org

 

Bob Poznanski, Senior VP, Director of LISC New Markets Tax Credit Program
269.459.4123
rpoznanski@newmarkets.org

 

LISC has offices in Detroit and in Kalamazoo serving the outstate area. Click here for more information or contact:

 

Victor Abla 
313.596.8222 x17 
vabla@lisc.org

 

Sonja Dean
269.343.5472 x7
sdean@lisc.org

Primary Care Development Corporation

Since 1993, the Primary Care Development Corporation (PCDC) has created an investment of more than $490 million in 105 primary care capital projects. This investment has expanded primary care access for more than 725,000 patients, improved 940,000 square feet of space, and created more than 4,800 jobs in low-income communities.

PCDC understands primary care business models, revenue streams and regulatory environments, and know what it takes to successfully finance your capital projects. We offer a variety of affordable and flexible short-term and long-term loan products to support the following activities: Pre-development for early stage costs such as site feasibility, and fees for project management and architectural services. Acquisition to facilitate site control for a capital project. Renovation and expansion of your health care facility. Bridge financing to help you manage timing of receivables from committed sources, including government grants. In addition to loans, PCDC has financed projects via New Markets Tax Credits.

For more information, contact:
William O'Brien, Chief Lending Officer, Capital Investment
Primary Care Development Corporation
212.437.3950
wobrien@pcdc.org

The Reinvestment Fund

The Reinvestment Fund (TRF) is a national leader in financing neighborhood revitalization, building wealth and opportunity for low-wealth people and places through the promotion of socially and environmentally responsible development. TRF has delivered more than $1.1 billion in capital, investing in homes, essential community assets, fresh food access, and sustainable energy, paving the way for stronger, more vibrant communities.

TRF’s Health Center financing, a partnership with the Low Income Investment Fund, is available to Health Centers nationwide. Organizations can obtain financing for real estate acquisition, construction or rehabilitation, and leasehold improvements. Health Centers may also be eligible for predevelopment assistance to support early-stage project costs.

Since 2004 TRF has been awarded $320 million in New Market Tax Credits, an outstanding financial resource for Health Centers and incentive to attract private sector capital to projects that stimulate economic activity and job creation in areas that need it most. Click here for more information or contact:

 

For more information, contact:
Bridget Wiedeman
The Reinvestment Fund
215.574.5857
bridget.wiedeman@trfund.com

 

The Low Income Investment Fund

The Low Income Investment Fund (LIIF) provides innovative capital solutions that support healthy families and communities. LIIF has provided more than $1 billion in financing to support organizations that develop and operate affordable housing, charter schools, health care centers, and other facilities serving low-income communities.

Headquartered in San Francisco, LIIF has offices in Los Angeles, New York City, and Washington, DC. LIIF’s health care financing initiative, a partnership with The Reinvestment Fund, is available to Health Centers across the nation.

Organizations can obtain financing for real estate acquisition, construction or rehabilitation, and leasehold improvements. Borrowers may also be eligible for predevelopment assistance to support early-stage project costs. LIIF has also been awarded $210 million in New Market Tax Credits, which are an excellent, low-cost financing source for the health care sector. Click here for more information or contact:

 

For more information, contact:
Hannah Blitzer
Low Income Investment Fund
212.509.5509 x13
hblitzer@liifund.org

 

The Michigan Health & Hospital Association Service Corporation & Michigan State Finance Authority

Equipment, modernization, and new construction financing is offered on a tax-exempt basis through the Healthcare Loan Program (HeLP). Borrowing rates are typically 50 percent of the prime rate and health care organizations can achieve economies of scale by sharing program costs with other organizations. Funds are also available through tax-exempt private placements and a taxable commercial paper program.

More than $1 billion dollars have been made available to Michigan health organizations through the use of these services. The program takes advantage of economies of scale through group participation, allowing each borrower to access low-cost financing without individually incurring all of the transaction costs associated with public financing. These loans may also be used for construction. Loans generally range from $500,000 to more than $20 million, with 20 year amortization and a variable rate. However, this is dependent upon market conditions. Click here for more information, or contact:

 

For more information, contact:
Gary Henriksen, MHA
Michigan Health & Hospital Association Service Corporation
6215 West St. Joseph Highway,  Lansing, MI 48917
517.323.3443
ghenriksen@mha.org

 

John Barton
Michigan Finance Authority
Treasury Building, Lansing, Michigan 48922
517.241.9515
bartonj@michigan.gov

 

Commercial Lenders

Health Centers may be able to use a number of different sources to finance their facility improvement project. Hopefully the financing will include a nice mix of public contributions, grant funds, and tax credits. What is not covered by these equity-creating dollars will need to be funded using commercial loans from traditional financial institutions, possibly combined with loan guarantees from the Health Resources and Services Administration, U.S. Department of Agriculture, or other opportunities.

If you have recommendations about sources of commercial loans from institutions that appear to be supportive of Health Center development or simple market expansion, email Phillip Bergquist at pbergquist@mpca.net and we will post the information for other Health Centers to benefit from.

 

Return to the main Capital Development webpage

 

Recently Completed MI Health Center Capital Development Projects

 

More Information

Phillip Bergquist, CHCEF
Director Health Center Operations
pbergquist@mpca.net
517.827.0473

 

 

 

 

 
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