Loans: Health
Featured Loan: Compass Health
Expanding behavioral healthcare services in Northwest Washington
$4.725 million participation in a $19.43 million construction loan with Capital Impact Partners as the lead lender and Craft3 as a fellow participating lender (September 2023)
With 26 locations across Northwest Washington, Compass Health is a leading behavioral healthcare provider that delivers comprehensive mental health treatment in the North Puget Sound region of Washington State. In 2022, Compass Health served approximately 13,500 adults and 4,300 youth through a range of services including outpatient care, substance use treatment, emergency services, inpatient care, and supportive housing. In 2021, 97% of its patients were covered under Medicaid reimbursements.
This financing supports the second phase of a three-phase construction project, involving the construction of a four-story facility with approximately 71,000 square feet of inpatient and outpatient behavioral health care. The expansion will allow Compass Health to serve even more community members, with a goal of adding over 1,000 new patients and increasing overall patient visits from 23,700 to 31,500 per year.
$1,200,000 facility loan, $410,000 bridge loan (March 2022)
In response to growing demand exacerbated by the COVID-19 pandemic, the organization recognized that it needed to expand its facility. The larger site will house additional exam rooms along with a physical therapy area, nurses’ station and clinical work area, urgent care practice, triage and consultation rooms, and additional administrative spaces. NFF's loans will both finance the new center and bridge government grants that will provide the remainder of the financing required to furnish the space.
$3.7 participation in a $6.2 million bridge loan (March 2023)
PHMC’s Public Health Campus on Cedar is located on a site that formerly housed Philadelphia’s century-old Mercy Hospital. The site was converted in 2021 into a public health campus housing some of the region’s largest healthcare institutions: Hospital of the University of Pennsylvania, Children's Hospital of Philadelphia, and PHMC. The site remains an anchor of the community, supporting community health and providing jobs to residents. The campus is undergoing major renovations to improve systems and infrastructure, with total development costs around $90 million. Once completed, the campus will feature an upgraded hospital, inpatient pediatric behavioral health center, primary care medical and dental services, and several residential and non-residential social service programs. As part of a large financing project, NFF’s participation loan with lead lender PIDC will bridge a grant from the Commonwealth of Pennsylvania Office of the Budget that supports the acquisition and construction of regional economic, cultural, civic, recreational, and historical improvement projects.
Partner: PIDC
$250,000 loan through the Metro Denver Nonprofit Loan Fund (April 2021)
$5 million construction loan (Jan 2021)
Partners: Capital Impact Partners, CityScape Capital Group, New York City Regional Center, and Chase
$2.5 million facility loan (Dec 2020)
$10 million in NMTC sub-allocation (Oct 2020)
Partners: Urban Research Park CDE, LLC, Craft3, and Chase
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