SACRAMENTO, Calif. and ARLINGTON, Va., Oct. 8, 2020 /PRNewswire/ — California’s community health centers (CHCs) are facing significant lost revenue as a result of business disruptions due to the COVID-19 pandemic. At the same time, CHCs are incurring unforeseen costs to implement technology for virtual health consultations. The impacts of the pandemic have been further exacerbated for many CHCs by the wildfires plaguing the state.
To bridge this cash flow gap, the California Primary Care Association (CPCA) and Capital Impact Partners have launched the $25 million CPCA COVID Response Loan Fund to provide flexible financing for CHCs. Fund investors include the Alliance Healthcare Foundation, The California Endowment, The California Wellness Foundation, JPMorgan Chase, Richard W. Goldman Family Foundation, and UnitedHealth Group.
It is a vital need, as CHCs not only serve one-in-six Californians, but also a predominate number of patients who fall below the federal poverty level. California CHCs