The community health centers (CHC) sector as a whole is expected to grow from 23 million patients in 2013 to as many as 35 million patients by 2020. Growth in the industry will require capital to make sure that CHCs are able to meet the growing demand. It is expected that CHCs will seek financing for facilities, equipment and technology, and working capital to accommodate this growth.
Community Development Financial Institutions (CDFIs), such as SCCLF, are natural partners to support CHCs in their growth. Both types of organizations have complimentary missions- CHCs to provide access to health care for under resourced communities, and CDFIs to provide capital to under resourced communities. Nationally, CDFIs have worked to meet the capital needs of CHCs for years. Primary Care Development Corporation, for example, has been working with CHCs since the mid-1990s.
SCCLF’s expansion into community facilities lending was largely due to our awareness that supporting vibrant, sustainable communities means investing in access to healthcare in the communities where we work. Last week, our loan committee approved its first $1 million loan to one of the largest federally qualified health centers in South Carolina; the loan is currently awaiting full board approval.
By offering patient, flexible financing, and with an expanded mission, we are poised to be a financial resource for CHCs in South Carolina. To date, we have approved more than $1.25 million in financing to CHCs and we remain committed to serving as a resource to CHCs across the state.
For additional information about CHC lending please contact Patrick King at patrick@sccommunityloanfund.org or by calling (843) 973-7285.
