Article Index


New and Noteworthy

25th Anniversary Highlights

Much has changed since 1994, when Allison Coleman became the first staff member of Community Health Center Capital Fund, the Massachusetts-based precursor to Capital Link. Perhaps the most important change is our broader focus. Twenty-five years ago, we were founded with the mission of developing a capital financing program for Massachusetts’ health centers. Now, operating through two national organizations, much of our work still is capital project focused, but we offer many more services too. The following comparison illustrates how we started and where we are today.

  Then Now

Then PI Brochure Inside NEW

Now Brochure NEW

The HRSA Health Center Facility Loan Guarantee Program

Originally authorized by Congress in 1997 through an appropriation, the HRSA Loan Guarantee Program (LGP) offers loan guarantees for the construction, renovation, and modernization of medical facilities operated by health centers. Authorized under Part A of Title XVI of the Public Health Service Act, the guarantee can cover up to 80% of the principal amount of loans made by non-federal lenders. In 2018, Congress appropriated new funds for the program enabling HRSA to update and modernize it to provide guarantees for almost $900 million in loans to health centers going forward.

The purpose of a loan guarantee is to enhance the health center’s credit profile, reducing the lender’s risk and allowing them to lend to health centers under more favorable terms than would have been possible otherwise. For some centers that could mean the difference between getting a “yes” versus a “no” from a lender, while for others, the guarantee may allow the lender to offer a lower interest rate, a longer fixed-rate term, or a higher loan-to-value ratio.

We expect that HRSA will announce the launch of the updated and expanded program at NACHC’s Policy & Issues Forum (P&I) in DC. While the details of the new program are still being finalized, Capital Link will work closely with HRSA over the coming months to provide a range of trainings and assistance on the program to health centers and lenders.

Capital Link will hold two informal informational sessions to introduce the program to health centers at the P&I:

Could the HRSA Loan Guarantee Program Benefit Your Health Center?

Thursday, March 28, 2019, 9:00 a.m. – 10:00 a.m.
Presenter: Allison Coleman, CEO, Capital Link

Thursday, March 28, 2019, 3:00 p.m. – 4:00 p.m.
Presenter: Jonathan Chapman, Director of CHC Advisory Services, Capital Link

We will also be providing trainings at several upcoming regional NACHC and State PCA conferences.

In addition to offering trainings on the LGP, with support from HRSA, Capital Link can directly assist a limited number of health centers with preparing program application materials. Funding for this assistance is limited, so if you are interested, please contact Jonathan Chapman at This email address is being protected from spambots. You need JavaScript enabled to view it. as soon as possible.

Please continue to check Capital Link’s website and HRSA’s LGP webpage for new information on the program as it becomes available.

NMTC Allocation Awards Expected this Spring

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund recently reported that the announcement of allocations for the calendar year (CY) 2018 NMTC Program application round will occur this spring. Community development entities (CDEs) who are awarded these allocations will be actively seeking near-term health center expansion or renovation projects to finance. If your health center needs additional funding for a project, NMTC financing could be the answer – and you should start preparing now!

Intended to stimulate investment and economic growth in low-income urban neighborhoods and rural communities, NMTC financing is a critical source of low-cost capital and equity for health center facility projects—often securing approximately 20-22% of total project costs. However, obtaining credits from a CDE with an allocation is a highly-competitive and complex process! Health centers must demonstrate a high level of project readiness and clearly communicate the merits of their projects to CDEs with allocation. Moreover, the process of structuring and closing an NMTC transaction is complex.

Capital Link and our lending affiliate Capital Fund have extensive knowledge of NMTC financing, together leveraging $670 million in NMTC financing for health centers to date. For more information about NMTC financing for health centers, access our free resources here on our website.

We welcome the opportunity to explore whether your project might be eligible for NMTC financing. Please contact Jonathan Chapman, Director of CHC Advisory Services, at This email address is being protected from spambots. You need JavaScript enabled to view it..

Learning Collaboratives: Free with HRSA Support 

Capital Link’s Learning Collaboratives are designed to help increase the capacity of health centers in a peer-to-peer learning format. Conducted through a series of webinars, virtual discussions, and in-person meetings facilitated by Capital Link, our Collaboratives are focused on topics such as planning and financing capital development projects or forming non-traditional partnerships with organizations to address Social Determinants of Health. Learning Collaboratives are offered free of charge with support from the Health Resources and Services Administration.

Upcoming and current Learning Collaboratives include:

Capital Projects: Planning, Financing, Completing 
Designed to assist health centers that anticipate the need for a capital project during the next one to five years, this learning collaborative will provide practical direction and tools for planning, financing, and completing a capital project. Through a series of monthly interactive learning sessions conducted between March and September 2019, participating health centers will be provided with guidance to successfully navigate the process of building or renovating facilities. To facilitate these learnings, Capital Link will provide a variety of valuable tools and resources, both publicly available and Capital Link-developed, throughout the collaborative. Learn more here.

Capital Expansion for Health and Housing Partnerships
This past December, CSH (Corporation for Supportive Housing) and Capital Link launched a second cohort of this learning collaborative for health centers interested in expanding their health services in collaboration with housing facilities. These facility collaborations are aimed at addressing gaps in a community’s housing and health infrastructure and provide opportunities to advance health centers’ engagement in social determinants of health. Learn more here.

For more information on our Learning Collaboratives, please contact Jonathan Chapman, Director of CHC Advisory Services, at This email address is being protected from spambots. You need JavaScript enabled to view it..