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  • ABC30 Central Valley

    Madera Community Hospital gets first installment of loan to reopen

    2024-06-18

    https://img.particlenews.com/image.php?url=15uHXX_0tvT6zg600

    Madera Community Hospital is getting closer to reopening after closing in January 2023.

    State Treasurer Fiona Ma says the hospital has now received the first installment of its $57 million loan granted through the state's Distressed Hospital Loan Program.

    This initial amount is $15 million.

    The state says additional installments will be issued as the hospital shows a need for cashflow related to its larger reopening and turnaround plan.

    The loan will have to be paid back over six years.

    Those payments are expected to start a year and a half after the loan term begins.

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