CHEFA has taken a major step in strengthening nonprofit infrastructure across Connecticut by completing the largest financing in its history, an $850 million dollar bond issue supporting Hartford HealthCare as it undertakes several high‑impact community projects. This financing helps move forward a new 470,000 sq. ft. patient tower at Hartford Hospital and supports the acquisition of Manchester Memorial Hospital and Rockville General Hospital, two key facilities that serve thousands of residents in Eastern Connecticut.
As the state’s largest nonprofit healthcare provider, Hartford HealthCare touches nearly every community in Connecticut, delivering services across 500+ locations and caring for 27,000 patients daily. CHEFA’s affordable financing ensures Hartford HealthCare can continue strengthening and expanding that reach while keeping costs manageable for the organization and the patients it serves.
This financing illustrates a broader truth: Connecticut nonprofits depend on access to affordable capital to complete mission-critical projects. From hospitals and universities to independent schools, childcare centers and human service agencies, many nonprofits face rising costs, aging buildings, and growing community needs. CHEFA helps address these challenges by offering cost effective, tax‑exempt financing options that make these critical projects possible — and more affordable.
Beyond tax‑exempt bonds, CHEFA also provides nonprofits with several other solutions, including the Capital Investments Loan Program (CILP) for mid‑size facility projects, the EasyLoan Program for simplified equipment financing, and annual grants that support capital and programmatic needs.
The Hartford HealthCare financing is a clear example of how CHEFA’s mission translates into real‑world impact. By lowering borrowing costs for major nonprofit initiatives, CHEFA ensures that more dollars stay where they matter most — in patient care, classrooms, community programs, and essential services.
As nonprofits continue to navigate increasing costs, expanding needs, and infrastructure challenges, CHEFA remains committed to being the state’s go‑to resource for affordable, responsible capital that strengthens Connecticut communities.