Social Investment Loan Fund (NCB Capital Impact )

Kicking off a three-year, $75 million initiative that will help finance community health centers serving vulnerable communities, Washington, D.C.-based NCB Capital Impact has announced a $5 million social investment loan with favorable terms and conditions from MetLife.

The funds will support the Healthier California program, which will work to attract capital to finance community health clinics throughout the state in order to maintain healthcare services for low-income and uninsured patients. Roughly 20 percent of California residents are uninsured, and more than two-thirds of community health center patients fall below the federal poverty line.

Sponsored by the California Organized Investment Network, a program of the California Department of Insurance, the initiative is part of an effort to offset the impact of the state budget crisis by investing not only in healthcare access but also in a source of local employment and economic growth.