 |
 |
 |
|
 |
|
| Capital Access |  |
 |
CAPITAL ACCESSHistorically, health centers have invested primarily in service delivery. Many centers have few resources to spend on facilities and equipment and have limited access to conventional financing. Through its Capital Access program, PCDC fills the gap in a way that meets the unique needs of the centers. Since 1993, PCDC has arranged over $178 million in capital for the construction, renovation and expansion of 60 primary care centers that provide care for 400,000 New Yorkers every year, and another ten projects currently in development throughout New York State valued at over $35 million. Through these projects, we have transformed 500,000 square feet of vacant, abandoned or dilapidated space into busy, attractive community facilities. PCDC's Capital Access Financing and Technical Assistance programs are available to providers across New York State. The programs include: Primary Care Capital Fund (PCCF) provides construction and permanent financing of up to $6 million per project. It is carried out through a partnership with leading financial institutions that currently includes JP Morgan Chase, Citibank, HSBC and Merrill Lynch. Based on funding availability, PCDC offers grants in conjunction with PCCF loans to reduce borrowers' costs. Pre-Construction Loan Program provides low-cost loans for pre-construction project development costs, including site acquisition and architectural and other professional services. Target Loan Fund provides streamlined processing of low-cost loans of up to $200,000 for targeted expansions, facility renovations and equipment purchases. Tax Exempt Bond Program provides construction and permanent financing, typically in excess of $6 million per project through tax-exempt bonds issued by the Dormitory Authority of the State of New York and backed by PCDC and the City of New York. This program is available solely for centers in New York City. Bridge Loans provides flexible financing to facilitate the development process for borrowers facing specific fundraising hurdles. For example, PCDC may tailor loan terms to accommodate anticipated cash flow from a government grant. Technical Assistance provides a range of services to PCDC borrowers in conjunction with project financings. These services include:
CLIENT TESTIMONIES "PCDC’s financing allowed us to do more than just a modest renovation. We redesigned the entire waiting room area, creating a welcoming environment for our patients and a better workspace for our employees. Thanks to PCDC, we can present ourselves positively in a way that reflects the quality of our care." "PCDC not only provided us with the financing to help our organization grow, but they stood by us through every challenge along the way. They went above and beyond to help us accomplish our mission of broadening access to care for people of color living with AIDS and HIV. The space we created with PCDC’s funding now reflects the dignity and respect our patients deserve. PCDC is an impressive organization and we are extremely excited to be participating in their Emergency Preparedness and IT Initiative collaboratives."
| ||
