Message From The ED Or Is It Chat GPT?

Dear RIHEBC community:

If you’re old like I am, you remember the television ads that asked the question “Is it live, or is it Memorex?” You were invited to try to tell the difference between a live singing performance and one recorded on the Memorex-brand cassette tape (oh, how far we’ve come).

In the same vein, for this month’s quarterly ED message, we are going to ask you the question:

“Is it the real ED, or is it Chat GPT?”

Send me an email and let me know what you think. If you get it right, I’ll send you a fabulous RIHEBC tchotchke. 

Below is the message from the real ED, or is it from Chat GPT?

We hope this message finds you well. As we enter the second quarter of the year, we want to take this opportunity to update you on some of the latest developments at the Rhode Island Health and Educational Building Corporation (RIHEBC).

As always, we remain committed to our mission of supporting the development and improvement of health and educational facilities in Rhode Island. In the past few months, we have continued to work closely with our clients to provide financing, technical assistance, and consulting services to help them achieve their goals.

One area of particular focus for us has been the ongoing COVID-19 pandemic. We recognize the significant impact that this pandemic has had on the health care and education sectors, and we have been working closely with our clients to help them navigate these challenging times. Whether it is providing financing for the expansion of hospital facilities or offering technical assistance for remote learning initiatives, we are committed to doing everything we can to support our clients through this crisis.

In other news, we are pleased to announce that we have recently launched a new website. The new site offers a range of resources and information for our clients and stakeholders, including an updated project portfolio, information on our financing programs, and news and updates from our team. We invite you to visit the site and explore its features.

Finally, we want to remind you that we are always here to support you. If you have a project that requires financing, technical assistance, or consulting services, please do not hesitate to reach out to our team. We are always happy to hear from you and to explore how we can work together to support the development and improvement of health and educational facilities in Rhode Island.

Thank you for your continued support, and we look forward to working with you in the months ahead.

Sincerely,

Kim Mooers

Executive Director

(401) 831-3770 x107

kmooers@rihebc.com

RIHEBC Launches New Health & Education Loan Program (HELP)

In March we launched a new lending program, the Health & Education Loan Program (HELP), specifically targeting Rhode Island’s small-to-mid-sized non-profits in the health, education, cultural, and social service sectors that have experienced challenges obtaining traditional bank financing for capital projects. The HELP program is open to Rhode Island not-for-profit institutions, cities, towns, and school districts that have operating revenues of $10 million or less. Loans of $25,000 to $250,000 will be made for terms between 3and 10 years.

We created the HELP program to give our state’s smaller non-profits access to low-cost financing so they can invest in capital projects that help them meet their missions. We’re excited to launch HELP because we know there is an unmet need in the market and because so many of our non-profits need access to financing to grow their organizations and serve more Rhode Islanders.

Visit www.rihebc.com/help for more information and click below for our program fact sheet.

RIHEBC Bonds Have Generated $2.4 Billion In Economic Impact and Supported 3,200 New Jobs Since 2016

We recently commisioned a report looking at our economic impact since 2016. RIHEBC's $1.5 billion in bond financing from 2016-2022 generated a total economic impact of $2.4 billion and the creation of 3,200 jobs! Powerful evidence that supporting our health and education sectors is an economic and job creation engine for Rhode Island. You can see this firsthand when visiting project sites teeming with construction workers; projects that were made possible by our low-cost financing programs. Read our full economic impact report here.

RIHEBC Participates In Rhode Island League Of Cities & Towns Annual Convention

On March 23rd we enjoyed participating in the Rhode Island League of Cities & Towns Annual Convention. It was great talking with our city and town partners about our tax-exempt bond financing, equipment leasing and purchase, and HELP loan programs.

RIHEBC Funds $73,000 Capital Grant To Thundermist Health Center for Sterilization Equipment at New West Warwick Dental Clinic

On March 3rd we were pleased to present a ceremonial $73,000 Capital Grant Program check to Thundermist Health Center’s new West Warwick dental clinic for sterilization equipment that will be part of putting smiles on patients’ faces for years to come.

RIHEBC In The News

RIHEBC launches loan program for state’s smaller non-profits, Providence Business News

The Rhode Island Health and Educational Building Corporation launched its new lending program on March 20 that specifically targets the state’s small-to-mid-sized nonprofits in the health, education, cultural, and social service sectors, that have experienced challenges obtaining traditional bank financing for capital projects. 

RIHEBC launches capital loan program for smaller nonprofits, Providence Business First

Smaller nonprofits have a hard time securing bank financing for capital projects, and that was true even before today's rising interest rates and tightening credit markets.

In response, the Rhode Island Health and Educational Building Corp. this week launched a new lending program — one that targets small-to-midsized nonprofits in the health, education, cultural and social service sectors.

RIHEBC awards $70K capital grant to Thundermist Health Center, Providence Business News

The Rhode Island Health and Educational Building Corp. has awarded Thundermist Health Center $73,643 as part of its Capital Grant Program. The funding will go toward sterilization equipment at Thundermist’s new West Warwick dental clinic.

RIHEBC's Programs

Tax-exempt bonds for capital projects and refinancings in excess of $4 million with a term in excess of 10 years. Learn more.

Equipment leases for equipment purchases and capital projects in excess of $1 million with a term of 10 years or less. Learn more.

Loans for eligible organizations with operating budgets of $10 million or less who face challenges obtaining traditional financing from banks and credit unions. Learn more.