The Nonprofit Finance Fund has announced the launch of a $13 million fund aimed at helping community providers of health and human services in California achieve better health outcomes for their clients.
With the increased focus on social determinants of health such as housing, food security, education, employment, and the role they play in the well-being of people and communities, prioritization of the "triple aim" — higher-quality care, with better health outcomes, at a lower cost — is driving change at both the systems and organizational levels. But community nonprofits that provide these services — supportive-housing providers, afterschool programs, elder-care agencies, health centers, etc. — lack the capital they need to expand programs, pilot new care and payment models, upgrade systems and facilities, and hire additional staff.
With support from the Blue Shield of California Foundation, the California Community Foundation, the California Endowment, Dignity Health, and the Kresge Foundation, AIM Healthy, as the new fund is called, will provide customizable facility loans, loans for growth or expansion, bridge loans, lines of credit, and equipment loans to help organizations address gaps in their capacity and infrastructure. In addition to the capital provided by the fund, NFF will offer financial management advice and consulting to select borrowers and disseminate lessons learned and best practices about how flexible loan capital can help community-based organizations expand their health services.
"Nonprofits have a critical role to play in advancing better health outcomes in America's underserved communities," said NFF chief executive Antony Bugg-Levine. "NFF is proud to invest in and partner with organizations that are dedicated to advancing the social, as well as the clinical, determinants of health."