Distressed Hospital Loan Program
Overview
It is intended to offer interest-free cashflow loans to not-for-profit and public hospitals in significant financial distress or to governmental entities representing a closed hospital to prevent the closure of or facilitate the reopening of the hospital. Chapter 6, Statutes of 2023, (AB 112) established the Distressed Hospital Loan Program authorizing $150 million in one-time funding towards not-for profit and public hospitals in significant financial distress or to governmental entities representing a closed hospital to either prevent the closure or facilitate the reopening of closed hospitals. The Program offers zero-percent interest, 72-month term loans, with an initial 18-month payment deferment at the start of the loan, for the purpose of supporting cashflow needs, and potentially...
Funding Information
$150,000,000
Eligibility Requirements
- Expected number of awards: Dependant on number of submissions received, application process, etc.
Contact Information
Email: [Click to reveal email]
Phone: 916-653-2799