West Virginia Rural Health Infrastructure Loan Fund

Center for Rural Health Development

Program Type:

Loan

Eligible Geography:

West Virginia

Summary:

The Center for Rural Health Development, Inc. (Center), a West Virginia not-for-profit corporation, operates the West Virginia Rural Health Infrastructure Loan Fund (Loan Fund) for the purpose of making affordable and flexible loans available to West Virginia's health care providers. Its objective is to strengthen West Virginia's rural health infrastructure.

The Loan Fund has successfully partnered with many West Virginia banks, both small and large, throughout the State to package financing to address West Virginia's health care providers' capital financing needs. Partnering with West Virginia banks is vital to furthering the Center's mission of improving the state’s health care infrastructure. The Center for Rural Health Development, Inc. offers project development and capital financing technical assistance to prospective borrowers to assist with effective project planning, design, construction and/or project finance for health care projects. A full list of required materials and documents are found on the program website.

Eligible Recipients:

Anchor Institution; For-Profit Business; Non-Profit Organization

Eligible Recipients Detail:

Eligible borrowers include hospitals, private physician and dental practices, community health centers, long-term care providers, behavioral health providers, pharmacists and others. Eligible borrowers include any licensed health care provider operating in West Virginia, with the exception of those operating in the city limits of Charleston.

Eligible Purpose:

Anchor Institution Connectivity; Building Connectivity; Broadband Enabled Devices (Healthcare)

Eligible Purpose Detail:

Loans are available for a variety of capital improvement needs including:

-Pre-construction, including land acquisition
-New facilities
-Facility renovation and/or expansion
-Equipment acquisition and/or upgrades
-Technology acquisition and/or upgrades
-Bridge financing for loans or grants
-Private practice acquisition
-Other needs

Other Eligibility Criteria:

Rural community

Funding Match/Terms:

To realize the Center for Rural Health Development's mission of strengthening West Virginia's health care delivery system, the Loan Fund provides loans at rates and terms which are aggressive to the market in comparison to those of conventional lenders.