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Community Health Center of Snohomish County

Application Acceptance: May 14, 2020 Please note all information provided below is as of the date of the application submission with the exception of Loan Size & Closing Date.

Obligor: CHCSC provides medical, dental and pharmaceutical services to primarily low income families and individuals with limited or no health insurance. CHCSC operates seven medical clinics, five dental clinics and five pharmacies located in Arlington, Edmonds, Everett and Lynnwood. In 2018, CHCSC provided 202,985 patient visits to 62,112 individuals.

Loan Size: $8,000,000

Description of Loan: Proceeds of the loan will be used to finance the construction and expansion of a clinic in Edmonds, WA, reimburse CHCSC for prior capital expenditures, refinance their WHCFA Series 2013 Bond, and to pay costs of issuance.

Interest Cost Savings: It is anticipated by CHCSC that it will save approximately $213,216 in interest costs over traditional taxable interest rate financing. The savings associated with the financing will be redirected toward patient programs.

Purchaser: Wells Fargo Bank, N.A.

Closing Date: September 16, 2020