Healthy Futures Fund finances first community health center, in rural WA
The Healthy Futures Fund—a first-of-its-kind collaboration to support accessible health care and affordable housing in low-income communities—has made its initial investment in a Federally Qualified Health Center (FQHC), helping finance the construction of a new clinic in the underserved rural community of Omak, Wash. NMSC manages the fund.
The facility is being developed by Family Health Centers (FHC), a county-wide health system offering primary medical, dental and pharmacy services, in north-central Washington. FHC is a critical resource in this area, serving more than 30 percent of residents in a county where poverty is nearly double the state rate.
The Healthy Futures Fund was co-founded by LISC, The Kresge Foundation and Morgan Stanley. The Fund is tapping more than $6.6 million in New Markets Tax Credits (NMTCs) from the National Development Council (NDC) to support this project. READ MORE
NMSC is working with its parent, the Local Initiatives Support Corporation (LISC), and the Small Business Administration to fill a gaping hole in the financial market with a new line of small business loans for entrepreneurs who set up shop in low-income communities. With it's new Community Advantage license, LISC will be offering loans under $250,000 all over the country. Read more or download our term sheet.