CDFIs Invest in Jobs and Quality Healthcare in Rural Mississippi
Client: Field Memorial Critical Access Hospital
Client Location: Southwest, MS
CDFI: HOPE Enterprise and Hope Credit Union
Financing
Field Memorial Critical Access Hospital (FMCH) is a critical access hospital serving a medically underserved, rural community in Southwest Mississippi.
Over the years, the facility became outdated and required extensive emergency repairs which limited the services and the level of care FMCH could provide.
Recognizing the importance of FMCH to the local economy and the provision of quality health care, HOPE (Hope Enterprise Corporation and Hope Credit Union), a CDFI with a mission to strengthen communities, build assets, and improve lives in economically distressed parts of the Mid-South, provided $6 million in New Markets Tax Credit investment and $2.5 million in conventional financing to a $21 million new state of the art facility.
The new hospital provides preventative, emergency, surgical, rehab and clinical health services to over 13,000 patients annually in a persistent poverty county.