New Markets Tax Credit Coalition

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Williams Medical Clinic

Working capital enabling Williams Medical Clinic to expand its business and continue delivering high-quality medical care in an impoverished rural county.

Investment

  • NMTC Amount: $3,600,000
  • Total Project Cost: $4,000,000

IMPACT

Investor

Project Description

PB Community Impact Fund provided a $3.6 million New Market Tax Credit enhanced loan to Williams Medical Clinic, Inc. to finance working capital that enabled Williams Medical Clinic to expand its business and continue delivering high-quality medical care in an impoverished rural county. Williams Medical Clinic is a medical practice group that specializes in nursing and emergency medicine. Williams Medical Clinic provides substantially all of its care to low-income persons, and residents of Marshall County, MS. Williams Medical Clinic is located in Marshall County, MS, which is classified as a persistent poverty county by the USDA meaning that it has had a poverty rate in excess of 20% for the past 30-years. Additionally, according to the 2022 County Health Rankings Report Marshall County MS is in the bottom third of Mississippi counties for health outcomes, primarily due to a lack of access to healthcare and high rates of poverty. Being one of the few medical clinics accessible to residents of Holly Springs, MS, the financing provided by PB Community Impact Fund helps to address these challenges head on. Prior to funding the New Market Tax Credit enhanced loan, Williams Medical Clinic was burdened with high cost debt that limited its ability to meet the medical needs of the impoverished rural community. By providing the low-cost New Market Tax Credit enhanced loan, Williams Medical Clinic’s cost of capital was significantly reduced and they are able to divert more resources toward providing quality medical care.

MAP

Address: 1938 Crescent Meadow Drive, Holly Springs, MS 38635

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PB Community Impact Fund provided $8 million of New Markets Tax Credit (NMTC) allocation to Rouse’s Enterprises, LLC (Rouse’s) to finance the acquisition and rehabilitation of a retail shopping center

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