Distressed Hospital Loan Program

Details
Purpose:
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.
Description:
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 may be forgiven or modified, with terms to be determined at a future date.
If the loan were to default, up to 20% of the hospitals Medi-Cal checkwrite payments would be intercepted by CHFFA.
Complete Application online. A link to the online application is located on the Distressed Hospital Loan Programs page of CHFFA’s website.
Eligibility Requirements
Eligible Applicants:
- Nonprofit
- Public Agency
Eligible hospitals cannot belong to an integrated health care system with more than two separately licensed hospital facilities.
Eligible Geographies:
none
Matching Funding Requirement:
none
Important Dates
Funding Details
How to Apply
State agencies/departments recommend you read the full grant guidelines before applying.
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