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Primary Care Development Corporation
22 Cortlandt Street, 12th FloorNew York NY, 10007
CDFI Awards for Primary Care Development Corporation
FA (2009) - $2,000,000
Primary Care Development Corp. is a not-for-profit CDFI in operation since 1994. Primary Care is a certified CDFI serving Low-Income Targeted Populations in New York State that lack primary health care services. The CDFI offers loans and Development Services for the development of primary health care facilities. Primary Care will use a portion of its FA award for short-tem lending and the rest for loan loss reserves.
FA (2008) - $1,000,000
Primary Care Development Corporation (PCDC) is a certified CDFI established in 1993. PCDC provides financial and technical assistance to nonprofit health center organizations providing primary and preventive health care in low-income and medically underserved areas of New York State. PCDC will use the 2008 Financial Assistance award of $1,000,000 for loan loss reserves and to leverage additional private capital.
NMTC (2007) - $40,000,000
Primary Care Development Corporation (PCDC) will provide loans to community health centers caring for low-income, medically underserved persons in low-income communities across New York State. PDCD will make long-term financing available to develop and fully outfit new health care facilities, as well as to modernize, expand or replace existing health care facilities. With its NMTC allocation, will offer fixed rate, self-amortizing loans, with a final term of up to 25 years. In addition to offering longer term loans, PCDC will offer interest rates that are generally 200 basis points lower than its current offerings and 50% below market rates, and extended interest-only periods of up to seven years.
FA (2003) - $2,000,000
The Fund"s $2 million award will enable PCDC to expand its work statewide by launching a loan fund targeted to community-based health centers in CDFI Hot Zones and Investment Areas in the rest of New York State. PCDC anticipates that the loans made through this new loan fund will, over the next three years, result in the ability to serve 85,000 individuals with primary or preventive care, 52% of which are projected to be very low-income; and create 300 new permanent jobs, in addition to new construction jobs. Approximately 51% of this award will be targeted to Hot Zones.
SECA (1999) - $41,000
It also provides technical assistance to its borrowers regarding development or expansion of primary care facilities. The technical assistance award will be used for consulting services and staff training.
CORE (1997) - $2,500,000
The $2,500.000 CDFI grant to PCDC completes the funding packages for an innovative new $25 million loan program. The CDFI funds are combine with a pool of $20 million from a consortium of the New York City"s leading banks, plus additional grant funds from the New York State primary Care Initiative and the Chase Manhattan CDFI Support Program.
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