New KHF initiative focuses on impact investment loans

April 9, 2019

Media Contact Ashley Booker, 316-491-8414

WICHITA, Kan. – The Kansas Health Foundation (KHF) introduced a new community loan initiative called Kansas Community Investment Fund (KCIF), aimed at helping provide gap funding for community impact projects. The KCIF is a three-year, $2.1 million initiative designed to assist community foundations and other organizations with loans for projects that improve the health of their communities. KCIF is the second of KHF’s loan projects; the first is the Kansas Healthy Food Initiative, designed to provide loans/grants to improve access to food in areas of great need.

Of the $2.1 million KCIF initiative, $1.5 million will be made available for loans, and NetWork Kansas will contribute an additional $1.5 million. As manager of the KCIF loan process, NetWork Kansas will receive approximately $310,000, and the remaining funds will be used for loan support and administration, marketing and communications.

“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 Steve Coen, KHF president and CEO. “With these loans, we can address critical community and economic development challenges related to our KHF impact areas.”

In the first quarter of 2019, three projects, focused in the areas of access to care and educational attainment, have been approved for KCIF loans totaling $149,865:

  • Emporia Memory Care: $44,000 matching loan for a new inpatient nursing/rehabilitation facility for individuals with dementia and/or Alzheimer’s disease (Emporia)
  • Gatlin Family Pharmacy, LLC: $85,300 matching loan for expansion by purchasing a closed pharmacy (Pratt)
  • Sunshine Daycare: $20,565 to take over existing E-Community loan for daycare purchase in 2013 (Winfield)

“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 Jeff Usher, KHF senior program officer. “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.”

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ABOUT THE KANSAS HEALTH FOUNDATION
The Kansas Health Foundation is based in Wichita, but statewide in its focus. With a mission to improve the health of all Kansans, KHF envisions a culture in which every Kansan can make healthy choices where they live, work and play. To achieve this, KHF focuses its work in four impact areas: access to affordable health care, healthy behaviors, civic and community engagement and educational attainment. During its 30-year history, KHF has provided more than $500 million in grants to Kansas communities and organizations and looks forward to working toward its mission and vision for many years to come.

ABOUT NETWORK KANSAS
NetWork Kansas is a 501(c)3 nonprofit organization devoted to the growth of entrepreneurship and small business throughout the state of Kansas.

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