New KHF initiative focuses on impact investment loans
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.”