This program offers a fantastic chance for health facilities to secure funding through commercial paper loans. The money can be used for crucial projects like construction, remodeling, and acquiring new equipment, all of which can enhance the services you provide. With flexible terms, you can address a wide range of needs, including land acquisition or working capital for start-up facilities. Best of all, you won’t face any application fees and will benefit from an affordable annual administrative cost, making this option budget-friendly.

By applying for this program, you’re not just addressing immediate financing needs; you’re investing in the growth and improvement of your facility. The loans have a final maturity date of up to 40 years, giving you the flexibility to repay without added pressure. This support not only bolsters your operations but also positions you to serve your community better, creating a lasting impact.

Type of Financing
This program offers a loan specifically designed for health facilities.

Repayment Terms and Fees

• The loan can have a final maturity date of up to 40 years.
• Initial fees include 0.05% of the issue amount, capped at $100,000.
• Additionally, an annual administrative fee will be charged, which is the greater of $5,000 or 0.0175% of the maximum amount of notes outstanding in the billing year.
• The loan requires a detailed description of the capital projects financed.

Eligible and Ineligible Expenses
Funds can be used for:

• Construction, remodeling, and renovation
• Land acquisition or the acquisition of existing health facilities
• Equipment and furnishings
• Refunding prior debt
• Working capital for start-up facilities
• Costs related to bond issuances and feasibility studies, as well as reimbursing prior expenditures.

However, the funds cannot be used towards costs outside these listed categories. There are no application fees associated with this loan, simplifying the process for eligible facilities.

• Must be a health facility as defined in the authority's act (section 15432(d) of the California Government Code)
• Must be a non-profit 501(c)(3) corporation or public health facility (e.g., district hospital) as defined in the authority's act (section 15432(e) of the California Government Code)
• Must have been in existence for at least three years, providing the same types of services
• Must demonstrate evidence of fiscal soundness and the ability to meet the terms of the proposed loan
• No minimum or maximum employee requirements
• No minimum or maximum revenue qualifications
• Must provide three most recent fiscal years of audited financial statements

Disqualifications:

• For-profit organizations do not qualify.

You can secure funding for your health facility through this program, which offers commercial paper loans specifically designed for various capital projects. You could receive funding for important tasks like construction, remodeling, or acquiring new equipment. This support can help enhance your services and facilities, making a significant impact on your operations.

The loans come with flexible terms, allowing you to use the funds for a wide range of needs, such as land acquisition or working capital for start-up facilities. Not only can you cover new projects, but you can also address prior debt if necessary. The loans are issued in denominations of $100,000, with a final maturity date extending up to 40 years, giving you ample time to repay.

Additionally, the program comes with no application fee and minimal initial costs. You’ll have access to administrative support for a reasonable annual fee. This makes it an accessible option for enhancing your facilities without straining your budget. Investing in your health facility now can lead to future growth and improved service delivery for your community.