News

Nonprofits Assistance Fund Extends its Minnesota Primary Care Loan Fund After 10 Years of Service to Community-based Health Care Providers
The Minnesota Primary Care Fund will continue to build financially healthy community-based health care organizations through 2012
 
Published Tuesday, September 4, 2007

Media Contacts: Kaitlin Olson
Nonprofits Assistance Fund
612.278.7187
kolson@nonproftisassistancefund.org


MINNEAPOLIS, September 4, 2007 — Nonprofits Assistance Fund (NAF), a nonprofit community development financial institution, today announced that it will extend its Minnesota Primary Care Loan Fund (MPC) for an additional five years in order to provide flexible financing to community-based health care organizations.

Due to the enormous success of the loan fund, The Robert Wood Johnson Foundation has agreed to continue support for the loan program for another five years - through 2012 – with a $1million Program Related Investment (PRI).

“We are thrilled that the loan fund has been extended,” said Kate Barr, executive director, Nonprofits Assistance Fund. “Community health centers play an invaluable role in the state and the loan fund has been an effective tool to strengthen the health care safety net in Minnesota.”

Initially a new and innovative approach to funding clinics in underserved rural and inner city communities, the PRI funds are now an established and valuable lending tool to meet the short-term cash flow, long-term working capital and the facility/equipment needs of community health centers. The MPC fund has provided financing to 14 health centers and other nonprofits totaling more than $15.2 million.

NAF has published a report that describes the MPC history, evolution, experience and lessons learned during the past 10 years. To request a copy, please contact us at info@nonprofitsassistancefund.org or visit our Web site at www.nonprofitsassistancefund.org.

Nonprofits Assistance Fund is a nonprofit community development organization that fosters vitality by building financially healthy nonprofits. Nonprofits Assistance Fund provides financing for working capital, cash flow, equipment and facilities projects with a focus on strengthening the operation and mission of nonprofits. They also offer financial management workshops and advice that improve nonprofits’ capacity to carry out their mission. For more information about Nonprofits Assistance Fund, please visit: www.nonprofitsassistancefund.org.
# # #


Send this page to a friend

Copyright © 2003-2007 by Nonprofits Assistance Fund. All rights reserved.