"Every New Yorker deserves access to quality health
care, and this new funding will help provide exactly the type of support health
facilities need to make that a reality for communities across this state,"
Governor Cuomo said. "These critical, low-cost loans will help expand and
improve services, taking one more step toward a stronger, healthier New York
for all."
The Community Health Care Revolving Capital Fund is designed
to improve access to capital for clinics and other organizations that have
limited resources and are seeking to broaden access to primary care services.
This revolving loan fund will provide affordable and flexible loans to these
groups that are often unable to obtain or afford commercial financing.
DASNY, in consultation with the New York State Department of
Health, selected the Primary Care Development Corporation to administer the
fund. Borrowers will be chosen by PCDC through an application process that is
approved by DASNY and NYSDOH. The funds will be used to provide loans for projects
at eligible facilities. Eligible projects may include construction, renovation,
expansion and upgrading costs. The funds may also be used for credit
enhancement and loan and debt service reserves to allow a facility to stimulate
greater private sector investment. For more information, visit PCDC's website.
