In addition to grant-making, which is guided by the initiatives, the foundation also works with community partners to offer mission-related investments (MRIs). These are financial investments that further an organization’s mission. MRIs can be another powerful tool to further our mission to advance oral health equity.
This mission-related investment is designed to fund oral health–related capital needs of community-based dental providers, services, and clinics. The Oral Health Capital Loan fund is intended to be equitably distributed across the state and urban/rural communities. Delta Dental of Colorado Foundation has seeded the fund with $3 million in 2021. The fund is managed in partnership with the Colorado Enterprise Fund (CEF), a locally based Community Development Financial Institution (CDFI). CDFIs are private-sector, financial intermediaries with community development as their primary mission.
DDCOF will provide loans to Colorado organizations that directly provide oral health care to their community. As the only dedicated oral health funder in Colorado, DDCOF appreciates the unique role we play in the safety-net dental delivery system, to include, oftentimes, the only funder available to purchase oral health capital expenditures.
The loans can be used to fund oral health related capital needs of community-based dental providers, services, and clinics. MRIs are available statewide but will be managed for equitable distribution across the state and across urban/rural communities.
How does it work?
- Loan amounts no less than $50,000
- Interest rate is 1%-2.5%
- 0% origination fee. Typical 3% fee is subsidized by DDCOF
- 5-10 year note terms with 6 months interest-only payments and no pre-payment penalties
- Quick turnaround time – decision, closing, and funding within two weeks of completed application process
- Coaching from CEF included at no cost to loan recipient
Who is eligible?
- Oral health provider practicing in Colorado.
- Preference will be given to the following types practices:
- Practice should serve a meaningful (at least 40%, 30% for rural communities) proportion of Medicaid, CHP+ or uninsured patients OR
- Practice should be in and serving a dental desert (Ratio of Dentists to people is =/<1:1000 per 100,000)