Sierra View Medical Center in Porterville, CA, has applied for $17.35 million from the state’s Distressed Hospital Loan Program.
If approved, the 167-bed district hospital will use the interest-free loan to “strengthen operations, enhance staff development, and ensure the continuation of key healthcare services for the local community,” according to The Business Journal.
The Department of Health Care Access and Information and the California Health Facilities Financing Authority jointly administer this program. Currently, $300 million in funding is available for hospitals — $150 million was originally allocated to the program in Assembly Bill 112. An additional $150 million was added to the 2023-24 state budget from the managed care organization tax.
Sierra View Medical Center said its application is motivated by its commitment to maintaining access to health care services and addressing current financial constraints. Read more.
