Capital Link is committed to helping ensure that health centers are equipped to financially weather the impacts of this pandemic. Below is a collection of COVID-19 funding sources and financing-related resources and tools.
We will continue to update this page as we obtain new information. To receive notifications on updates we make to this page, FOLLOW US ON TWITTER >
UPDATES - Small Business Administration Paycheck Protection Program (PPP) >
UPDATE - Federal Communications Commission COVID-19 Telehealth Program >
Capital Link's new report provides a national picture of health center revenue loss, COVID-19-related expenses, the influx of relief funds through December 31, 2020, and the estimated funding gap, based on the 15-month period from April 2020 through June 2021. We also offer customized reports with statewide or regional analysis for PCA, HCCNs and Consortia, as well as reports for individual health centers. LEARN MORE >
View a state-by-state estimate of health center revenue and job loss as a result of the COVID-19 pandemic. The analysis estimates the impact of a 50% decline in patient visits over a three-month period from April through June 2020, based on audited financial data HRSA Uniform Data System data, and economic impact multipliers. VIEW ANALYSIS >
NACHC and BKD have compiled guidance in critical areas in order for community health center leaders to guide their teams through difficult times and prepare them to come out stronger on the other side. Topics include cash flow planning, Cares Act guidance, and remote work best practices. VIEW TOOLKIT >
This NACHC and Capital Link webinar, held on April 27, 2020, discusses non-traditional financing opportunities for health centers dealing with financial downturn during COVID-19, focusing on the latest developments in the Paycheck Protection Program (PPP) administered by the Small Business Administration and tips for strengthening health center participation in the PPP. RECORDING, SLIDES, AND Q&A >
NACHC created this comprehensive, multi-tab spreadsheet to assist health centers in understanding, allocating, and complying with the range of Federal COVID-19 funding streams available. Additonal tabs will be added over time. VIEW SPREADSHEET >
NACHC has provided an overview of funding resources that that health centers – as well as PCAs and HCCNs - may be able to access to cover revenue shortfalls and to help their employees make ends meet during this time. These resources are divided into grants from HHS, and non-grant options, which include loans, tax credits, advances, deferrals, paid employee leave, and unemployment insurance. VIEW DOCUMENT >
NACHC has created a fact sheet, utilizing Capital Link data, detailing the negative impact COVID-19 will have on health centers’ visits, revenue, and employment over six months and how Congress can help reduce the financial loss. VIEW FACT SHEET >
The U.S. Chamber of Commerce has issued this guide to help small businesses and self-employed individuals check eligibility and prepare to file for a loan. VIEW CHECKLIST >
The Council of Development Finance Agencies (CDFA) COVID-19 Resource Center contains information on community development financing sources. The State Response Map features a list of state and local financing programs and related media headlines. LEARN MORE >
Candid.org is compiling a list of funds specifically established in the wake of coronavirus, searchable by
geographic area. The list focuses on funds hosted at US-based foundations that serve nonprofits, though
others outside of this criteria may appear as well. VIEW LIST >
On March 26, 2020, CASE and CASE i3 at Duke University’s Fuqua School of Business launched a searchable
website to help any entrepreneur in the world, for-profit or nonprofit, struggling due to the economic impacts of
COVID-19, to locate cash relief resources in their community. VIEW SITE >
The California Primary Care Association (CPCA and Capital Impact Partners have launched a $25 million fund to provide flexible financing for California community health centers. Deadline to apply is November 6, 2020 and loan decisions will be made in late November with loan funding planned for mid-December. LEARN MORE >
The Federal Reserve established the Main Street Lending Program to support lending to small and medium-sized businesses and nonprofit organizations that were in sound financial condition before the onset of the COVID-19 pandemic. The Program operates through five facilities, two of which are specifically designed for not-for-profit organizations: Nonprofit Organization New Loan Facility (NONLF) and Nonprofit Organization Expanded Loan Facility (NOELF). LEARN MORE > BKD UPDATE > LINK TO FAQs >
On March 13, 2020, President Trump declared COVID-19 a national emergency. As a result of this declaration, state, territorial, tribal and local government entities and certain private nonprofit (PNP) organizations are eligible to apply for FEMA Public Assistance. The FEMA funding made available through the president’s emergency declaration is designed to reimburse qualified organizations for much of their emergency response costs. LEARN MORE > SUMMARY OF ELIGIBLE COSTS, ETC. > ACCESS FEMA PORTAL >
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (S. 748) provides $2 trillion for businesses, hospitals, schools, and social support programs, among many other things. LEARN MORE >
UPDATE - Employee Retention Credit - On March 2, 2021, the U.S. Department of the Treasury (Treasury) and IRS released Notice 2021-20 (Notice), providing guidance on the Employee Retention Credit (ERC) under the CARES Act. The ERC is a refundable payroll tax credit for employers whose operations were fully or partially suspended due to government orders or who experienced a significant decline in gross receipts due to the COVID-19 pandemic. LEARN MORE >
Funding opportunities for health centers under the CARES Act include:
Health centers can apply for $20 billion in new funding, which will be allocated to providers based on assessed financial losses and changes in operating expenses caused by COVID-19. Under this latest phase, applications will be considered regardless of whether your organization was previously eligible, applied, received, was accepted, or was rejected for prior Provider Relief Fund payments. LEARN MORE > APPLY HERE >
Congress provided $175 billion in relief funds to the HHS to deliver financial relief to health care organizations, like health centers, on the front lines of the coronavirus response. This funding will be used to support healthcare-related expenses or lost revenue attributable to COVID-19 and to ensure uninsured Americans can get testing and treatment for COVID-19. In an FAQ published on July 30, HHS announced that all funding received from the Provider Relief Fund must be fully expended by July 31, 2021. Any funds not fully expended by the date must be returned to HHS. The FAQ is under the heading “Terms and Conditions” on the FAQ webpage. On September 19, 2020, HHS released its Post-Payment Notice of Reporting Requirements. VIEW NOTICE > LEARN MORE > FAQs >
The Act provides for additional funds to be transferred to states from the federal unemployment account to be used solely to reimburse Section 501(c)(3) organizations, government agencies and Indian tribes for one half of amounts paid for unemployment benefits between March 13, 2020, and December 31, 2020. Nonprofits will be reimbursed for 50% of the costs incurred through the end of 2020 to pay unemployment benefits. LEARN MORE >
As a part of the CARES Act, the Small Business Administration's (SBA's) Paycheck Protection Program (PPP) is a loan option to help prevent workers from losing their jobs and keep small businesses from going under due to economic losses caused by the COVID-19 pandemic. LEARN MORE > HEALTH CENTER PPP ASSESSMENT FINDINGS >
On Jan 8, 2021, the SBA announced the reopening of the PPP for new and certain existing PPP borrowers. This round authorizes up to $284 billion toward job retention and certain other expenses through March 31, 2021 and by allowing certain existing borrower to apply for a Second Draw PPP Loan. READ PRESS RELEASE >
A borrower is generally eligible for a Second Draw PPP Loan if the borrower:
- Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses;
- Has no more than 300 employees; and
Eligible small businesses that didn't get a PPP loan before the program closed in August, can also now apply for relief through community financial institutions. FIRST DRAW INFO > FIND A LENDER > FIRST DRAW APPLICATION > UPDATED FAQs >
UPDATE - NEW DEADLINE TO APPLY FOR PPP LOANS IS MAY 31, 2021. On March 25, 2021, the Senate passed the PPP Extension Act by a vote of 92-7. The SBA will now be accepting PPP applications up until May 31, 2021. The American Rescue Plan Act (ARPA), which was signed into law by President Biden on March 18, states that organizations with more than 500 staff are eligible for fully-forgivable loans under the PPP, provided that they have less than 500 staff at each physical location. Health centers can receive PPP loans for up to 2.5 times their monthly payroll costs. KEY SUMMARY ARPA PROVISIONS FROM NACHC >
- UPDATE - Updated General PPP Loan Application Forms:
- For first draw loans - Form 2483: The instructions for the number of employees to report on page one has been updated to clarify that applicants may use their average employment over the time period used to calculate aggregate payroll costs, or may elect to use the average number of employees per pay period in the 12 completed calendar months prior to the date of the loan application.
- For second draw loans - Form 2483-SD: The changes are the same as were made to the first draw application (Form 2483 above).
- UPDATE - The SBA requires non-profit borrowers, such as health centers, that received a PPP loan of $2 million or greater and have applied for forgiveness to complete a Form 3510 Non-Profit Borrowers Questionnaire in order to solicit supplemental information regarding the necessity of the loan request within 10 days of receiving it from their lender. DOWNLOAD FORM 3510 > Since Form 3510 does not allow the opportunity for health center borrowers to provide context surrounding the situation that resulted in the loan necessity, Capital Link worked with NACHC to provide comments to the SBA on Form 3510 during the comment period. READ NACHC'S COMMENTS > and the SBA has since updated its FAQs. READ FAQs > You can find NACHC’s latest recommendations for health centers here: NACHC’s RECOMMENDATIONS >
A new eligibility category added for tangible net worth of not more than $15 million and average net income after federal taxes for the prior two full fiscal years is not more than $5 million; the existing affiliation rules would apply in computing the $5 million and $15 million thresholds. This would allow employers that do not meet the headcount numbers to possibly qualify, including health centers of more than 500 employees. LEARN MORE >
NACHC Letter for Lenders - The PPP statute indicates that applicants like health centers should receive priority in the process and disbursement loans. However, some lenders may not be aware of this priority and health centers applying for PPP loans may want to consider alerting lenders themselves. NACHC sent a letter to the SBA outlining the language in the PPP law with the criteria for which borrowers get priority and the language from Section 330 that demonstrates that health centers meet these criteria. Send a copy of NACHC’s letter to your lender or use language from it to create your own letter to your lender. DOWNLOAD LETTER >
On March 30, 2021, the Federal Communications Commission (FCC) released the rules regarding round 2 of COVID-19 telehealth funding program. The application window is expected to open in early May, lasting about a week, and will include $250 million for nonprofit clinics and hospitals to fund telehealth access. FCC COVID- TELEHEALTH PROGRAM PAGE > ROUND 2 ORDER > FAQs FROM SANO HEALTH >
$500 billion has been designated to be used to retain employees and restore the compensation and benefit levels. Mid-sized nonprofits and businesses that have between 500 and 10,000 employees are expressly eligible for loans under this provision. Although there is no loan forgiveness provision in this section, the mid-size business loans would be charged an interest rate of no higher than two percent and would not accrue interest or require repayments for the first six months. Nonprofits accepting the mid-size business loans must retain at least 90 percent of their staff at full compensation and benefits until September 30th. LEARN MORE >
Small Business Administration Economic Injury Disaster Loans - The SBA has reopened its Economic Injury Disaster Loan program to ALL small businesses. The reopening comes more than a month after the SBA closed the program to new applicants except for agriculture-related companies.
The $484 billion COVID-19 3.5 relief package signed into law on April 24, 2020 included an appropriation for an additional $50 billion for SBA’s Disaster Loans Program Account and $10 billion for Emergency Economic Injury Disaster grants, while increasing the authorization level for the emergency economic grants from $10 billion to $20 billion. LEARN MORE >
The CARES act pumps new resources into our public health, education and emergency preparedness infrastructure. LEARN MORE >
- Funds community health centers through November 30, 2020
Reauthorizes key rural grant programs to strengthen rural community health
$80 million in funding has been allocated to tribes, tribal organizations, and Urban Indian Organizations for resources in support of our nation’s response to the 2019 novel coronavirus (COVID-19). LEARN MORE >
As part of this upcoming funding action, CDC will:
Supplement an existing CDC Cooperative Agreement to get resources quickly to nine regionally designated tribal organizations, including resources for sub-awards to tribes with the greatest burden and needs in their region and other direct funds to a number of large tribes.
Supplement existing funding to the National Council of Urban Indian Health, which will make sub-awards to 41 urban Indian health centers.
Supplement existing funding to the National Indian Health Board for COVID-19 communication activities.
The Families First Coronavirus Response Act (FFCRA or Act) requires certain employers to provide their employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. The Department of Labor’s (Department) Wage and Hour Division (WHD) administers and enforces the new law’s paid leave requirements. These provisions will apply from the effective date through December 31, 2020. LEARN MORE >
Paid leave: Up to 80 hours of paid sick leave to $511/day. For caregiver leave, 80 hours to $200/day.
Family leave: 10 weeks at $200/day max. To care for a child whose school or care provider is unavailable.
The firm will provide $2 million to existing nonprofit partners who are facing new challenges supporting vulnerable populations in response to COVID-19. The funds will go towards helping these partners maintain operational capacity as they adjust their programming and provide resources to support their remote working capabilities, resiliency planning, fundraising, and communications. LEARN MORE >
Bank of America is committing $100 million to support local communities in need as the world faces unprecedented challenges from the coronavirus. The funds will help increase medical response capacity, address food insecurity, increase access to learning as a result of school closures, and provide support to the world’s most vulnerable populations. LEARN MORE >
The Boston Resiliency Fund is the City of Boston’s effort to help coordinate fundraising and philanthropic efforts to provide essential services to Boston residents whose health and well-being are most immediately impacted by the coronavirus pandemic. We also working to help first responders and critical care providers. LEARN MORE >
The emerging priorities of the Boston Resiliency Fund are to:
- Provide food to Boston's children and seniors
- Technology to Boston Public Schools students for remote learning, and
- Provide support to first responders and healthcare workers so they can effectively do their job.
Community Development Financial Institution (CDFI)
The Fund will provide to CDFIs low-cost, fixed-rate loans of up to 10-year money with interest deferred in year one. This Fund is reserved for OFN member CDFIs serving for-profit and nonprofit businesses. The Fund has not yet opened for applications. Check back soon for more information. LEARN MORE >
COVID-19 Response Fund Grants are available to Rhode Island nonprofit organizations at the forefront of COVID-19 response. LEARN MORE >
Grants will be awarded to:
Support nonprofit organizations providing direct assistance to Rhode Islanders with financial need or demonstrable hardship resulting from COVID-19.
Provide operating support to nonprofit organizations that are meeting community needs resulting from COVID-19, and are in financial distress.
The Trust is providing no-interest loans to New York City nonprofit organizations working in the human services, with particular interest in those supporting essential healthcare, food delivery, homeless services, workforce development, educational support, and early childhood education, and arts and culture. LEARN MORE >
Loans will range from $100,000 to $3 million
Funds can be used for a variety of purposes, including covering delays in government payments for services delivered, postponed fundraising events, and increased expenses to deliver services which will be reimbursed in the future.
Loans will be unsecured and have terms of either 12, 24, or 36 months. Full repayment is expected. Financial and cash flow planning coaching will also be available to organizations that receive these loans.
The COVID-19 Response Fund will award one-time operating grants on a rolling basis to non-profits whose operations in support of seniors, children, immigrants, workers, and other vulnerable populations have been stressed by the outbreak. Loans up to $25,000 available. LEARN MORE >
In response to COVID-19, the Otto Bremer Trust (OBT) has established a $50 million emergency fund through its Community Benefit Financial Company (CBFC) subsidiary to provide financial support to Minnesota, Wisconsin, North Dakota, and Montana nonprofits and other community organizations impacted by and responding to the pandemic. The fund will provide resources in the form of short-term loans, lines of credit, and emergency grants. LEARN MORE >
Foundations and other philanthropic institutions dedicated to improving quality of life across southwestern Pennsylvania have come together with unprecedented speed, to provide $4 million to create an Emergency Action Fund and as much as $6 million in aligned, coordinated efforts to lessen the damaging effects of the COVID-19 virus on residents, especially the most vulnerable. LEARN MORE >
The Greater Cleveland COVID-19 Rapid Response Fund is designed to complement the work of public health officials and expand local capacity to address all aspects of the outbreak as efficiently as possible. The Rapid Response Fund will provide grant awards on a rolling basis to nonprofit organizations in Cuyahoga, Lake and Geauga counties. Providing support of $5.37 million. LEARN MORE >
A $150 million as part of the Response Fund will be granted through a Request for Proposal (RFP) process. Instructions will be available at a later date. LEARN MORE >