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27th
May
2021
Brooklyn, NY

Brooklyn Healthcare Center Gets Financial Boost from CDFI Amid Pandemic Strain

May 27, 2021

Client: BMS Family Health and Wellness Centers

Client Location: Brooklyn, NY

CDFI: Primary Care Development Corporation (PCDC)

CDFI Service Area: National

CDFI Services Provided: 

Financing and technical assistance, with support from the Grow with Google Small Business Fund

Financial and Social Impact

  • Healthcare center able to continue serving community hardest hit by COVID-19, with 79% of patients who are Black, 76% below the federal poverty line, 69% on Medicaid, and 7% uninsured

Located in Brooklyn, NY, BMS Family Health and Wellness Centers (BMS) provides integrative, high quality healthcare and social services that enable neighborhood residents to achieve lifelong health and wellness. Incorporated in 1974 through the Brownsville Community Development Corporation (BCDC), BMS has attained the highest level recognition as a patient-centered medical home — a model of healthcare based on an ongoing, personal relationship between a patient, doctor, and the patient’s care team. Since 2005, Primary Care Development Corporation (PCDC) has provided $5.5 million in financing to BMS for various projects.

PCDC recently closed a $500,000 loan to provide working capital to BMS for staffing, operations, and facilities. This financing from PCDC will allow BMS to continue delivering care and services as the CDFI simultaneously responds to the most urgent needs of the Brownsville community, which is among the hardest hit by the coronavirus pandemic in New York City. In addition, PCDC will provide technical assistance consisting of capacity building training to strengthen BMS’s operations and resiliency during the pandemic.

A Federally Qualified Health Center (FQHC), BMS operates five community clinical centers, one school-based clinical center, and a standalone life and wellness center. BMS’s services include medical, behavioral health, and dental services, as well as specialty services including podiatry, optometry, physical therapy, and medication assisted treatment. BMS also operates a licensed residential substance use treatment center for adults.

Tags: COVID-19, Grow with Google Small Business Fund, Healthcare, Technical Assistance, Urban, Working Capital

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