The Kansas Health Foundation has announced a three-year, $2.1 million community loan initiative aimed at providing gap funding for community impact projects.

The Kansas Community Investment Fund will assist community foundations and other organizations with loans for projects focused on improving the health of communities in the state. Of the $2.1 million, $1.5 million will be made available for loans and will be matched by an additional $1.5 million from NetWork Kansas, which will receive $310,000 to manage the loan process. The remaining funds will be used for loan support and administration, marketing, and communications. 

In the first quarter of 2019, three projects were approved for loans: Emporia Memory Care was awarded a $44,000 matching loan for a new inpatient nursing/rehabilitation facility for individuals with dementia; Gatlin Family Pharmacy was awarded a $85,300 matching loan to purchase and expand a closed pharmacy; and Sunshine Daycare was awarded $20,565 to take over an existing E-Community loan for a 2013 daycare purchase.

KCIF is the second of KHF's loan projects; the first, the Kansas Healthy Food Initiative, provides loans and grants in support of efforts to improve access to healthy food in areas of need.

"This revolving loan fund helps us support community development for projects like a new health clinic, grocery stores, or childcare facilities that may not otherwise be funded without some type of gap funding," said KHF senior program officer Jeff Usher. "The loans also can help provide matching capital to for-profit and nonprofit businesses that have a positive impact on the social and economic conditions of local communities."

"Impact investing is a new way for foundations to invest with community development financing to improve the health and economic vibrancy of Kansas communities," said KHF president and CEO Steve Coen. "With these loans, we can address critical community and economic development challenges related to our KHF impact areas."

(Photo credit: Emporia Memory Care)