(WSIL) -- Gov. Andy Beshear announced the Kentucky Rural Hospital Loan Program (KRHLP) is making $20 million in low-interest loans available to assist rural hospitals across the commonwealth.
The funds administered will directly impact the 1.8 million Kentuckians living in rural areas by maintaining or upgrading hospital facilities, retaining or increasing the current staff of the rural hospital and providing health care services not currently available to citizens.
“Hospitals are a cornerstone of rural communities and a key contributor to economic development,� said Gov. Beshear. “Our goal is to create a better Kentucky for all of our residents, and that starts by investing in one of the most vital pieces of infrastructure: our rural hospitals. This innovative loan program is the latest advancement in our work to ensure every Kentuckian across all 120 counties has access to the high-quality health care services they need, close to home. I look forward to seeing this program’s impact for generations to come.�
Any hospital located within a Kentucky county with a population of less than 50,000 is eligible to apply for the KRHLP program.
To qualify for financing, a rural hospital must request funds to maintain or upgrade the existing facilities, the current staffing or the services available to rural citizens.
Eligible hospitals can receive a loan amount ranging from $25,000 to $1 million per hospital facility with a 1% fixed interest rate.
Interested applicants should review theÌýÌýand the Cabinet for Health and Family Services’Ì�Ìýto confirm their status as a rural hospital within the state. The additional loan requirements and application process are now available to view on the Cabinet’sÌý.
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