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Capital Link Project Highlights — Forgivable Loans

Capital Link has successfully assisted 4 health centers in Massachusetts in obtaining a total $11.4 million in forgivable loans from hospitals.

Forgivable Loans from Hospitals - Example
Dorchester House Multi-Service Center-Boston, MA

Project Summary:
Using the Community Health Center Capital Fund's tax-exempt bond program, Dorchester House Multi-Service Center obtained $2,172,000 in tax-exempt bond financing in March 1999.  By borrowing from Massachusetts Health and Educational Facilities Authority's (HEFA) Capital Asset Pools, the health center accessed a low-cost, variable rate, tax-exempt loan.   The capital project was also funded by forgivable loans from two hospitals totaling $3.86 million each.

Capital Link worked with the health center to prepare a business plan, which was used to obtain the hospital forgivable loans.  The building project will double the health center's space from 25,800 square feet to 56,000 square feet and will add 20 new exam rooms. The expanded facility will allow the health center to see more patients and add new services.

Dorchester House

Financing Picture: $11,767,705 Expansion and Renovation Project

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These transactions were successfully completed with the assistance of Capital Link or Capital Link's constituent founding organizations:

Community Health Center Capital Fund, Massachusetts League of Community Health Centers, Illinois Primary Health Care Association, North Carolina Community Health Center Association (formerly North Carolina Primary Health Care Association) and Texas Association of Community Health Centers.