Distressed Hospital Loan Program

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. Program Details State Treasurer's Office is a state agency that offers the Distressed Hospital Loan Program grant program to support eligible programs and projects. This funding opportunity is available statewide and is administered by State Treasurer's Office through California Grants Portal. Organizations seeking funding for eligible programs and projects should review the details below and confirm their eligibility before preparing an application. Eligibility Eligible applicants should review the full program requirements on California Grants Portal for specific eligibility restrictions. Organizations that meet the eligibility criteria are encouraged to apply and to review the full program guidelines before submission. Because eligibility rules and funding priorities can change between cycles, applicants should always confirm the current requirements with State Treasurer's Office or on California Grants Portal before investing time in an application. Funding and Timeline Applications are due by July 31, 2023. Applicants should allow sufficient time to gather required documentation, including organizational information, project descriptions, budgets, and supporting materials as specified in the program guidelines. Submitting a complete application well ahead of the deadline reduces the risk of disqualification on technical or administrative grounds. Program Focus This grant supports eligible programs and projects. Funded projects are expected to demonstrate measurable outcomes aligned with the program's stated objectives. Grant recipients may be required to submit progress reports and final evaluations as a condition of the award, and to retain records for audit and compliance purposes. How to Apply Eligible organizations can apply through California Grants Portal. Create a free organization profile on GrantRegister to see whether this grant matches your organization's NAICS code, entity type, location, and focus area, and to receive a weekly digest of every open grant you qualify for. GrantRegister maintains a complete, authoritative registry of US federal, state, and foundation grant opportunities — matched automatically to your organization profile and delivered every Monday.

Eligibility

Eligibility not specified by this funder. Requirements may still apply — confirm directly with State Treasurer's Office.

Award details

Applications close on July 31, 2023.

Categories

Not categorized