(Loans for distressed hospitals)....State Treasurer Fiona Ma made the announcement this week.
She announced that 3 California Hospitals have received $64.3 million in loan funds, from the state's $300 million Distressed Hospital Loan Program. The facilities include Watsonville Community Hospital in Santa Cruz County. They received $8.3 million. Pioneers Memorial Hospital in Brawley receives $28 million. El Centroi Regional Medical center also receives $28 million. The DHLP provides zero interest loans to financially distressed non-profit and public hospitals, with the goal of helping them stay open and achieving long-term financial stability. The loans carry a 72-month term with an initial 18 month payment deferment period