This financing program is tailored specifically for non-profit health facilities, offering a minimum of $500,000 to support your operations. With this funding, you can easily purchase essential equipment or cover minor installation costs. The loans come with a fixed interest rate based on market conditions, ensuring that your payments are predictable and manageable, which is a major advantage compared to other financing options that may have fluctuating rates.

Approving your loan will empower your facility to enhance patient care, upgrade your services, and meet community needs more effectively. Plus, since there's no maximum borrowing limit, you have the flexibility to secure the amount that aligns with your specific goals. The straightforward application process, albeit with a $500 application fee, allows you to access the funds you need without excessive hurdles.

In short, this program helps you remove financial barriers while investing in the future of your health services. The impact on your operations can be significant, leading to improved efficiency and quality in the care you provide. Let's make sure your facility has the right tools to thrive!

Type of Financing
This program offers a loan to eligible health facilities. You can expect a market-determined fixed interest rate based on the maturity of the loan. The minimum loan amount is $500,000, but there's no maximum limit. Importantly, the loan terms relate to the useful life of the equipment financed.

Eligible Expenses
The funds can be utilized for:

• Purchase or reimbursement of qualifying equipment.
• Financing minor equipment installation costs.

Restrictions and Fees
Funds cannot be used for any expenses outside of the eligible purchases mentioned above. There are fees to consider:

• A $500 non-refundable application fee.
• An initial fee of 0.05% of the issue amount.
• An ongoing annual administrative fee of $400 as long as there’s an outstanding balance on the loan.

This structure ensures you have a clear understanding of the financial support available through this program.

• 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.

Disqualifications:

• For-profit organizations do not qualify.

You can access a minimum of $500,000 to help your healthcare facility purchase or reimburse for new equipment, plus cover minor installation costs. This financing is designed specifically for non-profit health facilities and can provide the resources you need to serve your community better.

The loans feature a fixed interest rate based on market conditions, with terms that match the lifespan of the equipment you purchase. There’s no limit on how much you can borrow, making it a flexible option suited to your specific needs.

While there is a $500 application fee and a small administration fee, the opportunity to invest in necessary equipment can significantly impact your facility's operations. This program can help ensure you have the right tools to provide quality service without the financial strain.