The Safety Net Loan Fund
Endowment for Health Partners with
NCB Capital Impact to Offer $3 Million
Safety Net Loan Fund
Targeted community health providers to
gain new resource for working capital
The Safety Net Loan Fund is a $3 million, five-year, capital pool which seeks to increase access to flexible, predictable and cost effective capital financing to New Hampshire nonprofit health service providers. The Fund will act as a model and a catalyst to increase the financing and other resources available to New Hampshire nonprofit health service providers over the longer term.
Eligible organizations include:
New Hampshire-based nonprofit community health centers, community mental health centers, oral health centers, maternal/child health/family planning clinics, and other community clinics or essential safety net providers.
Eligible uses of funds include:
1. Working Capital for Cash Flow Needs
2. Working Capital for Service Expansion
3. Equipment and IT Purchases
4. Leasehold Improvements
5. Gap Financing for Capital Projects
What you will need for the application process:
1. Completed and signed application
2. Last 3 Fiscal Year Financial Statements
3. Interim YTD Profit and Loss Statement and Balance Sheet
4. Recent Accounts Receivable Aging
5. Other Supporting Documentation
Frequently Asked Questions
1. What is the range of the loans? Eligible applicants can apply for loan amounts between $50,000- $500,000.
2. Who manages the fund? NCB Capital Impact manages all aspects of the fund from application submission through on-going servicing. The Endowment for Health will not be reviewing, underwriting or approving loan applications, they serve as an investor only.
3. Does this replace the relationship with my current bank? This fund does not seek to replace the relationship with your current bank. The type of transactions this loan seeks to capitalize are often the types of loans not readily considered by traditional banks.
4. How long does the application process take? 4 weeks from receipt of a completed application; through approval, closing and the transfer of funds.
Katherine Groves: (703) 647-2331
kgroves (at) ncbcapitalimpact (dot) org