Distressed Hospital Loan Program

State Treasurer's Office · State of California

At a glance

Distressed Hospital Loan Program is a closed California state loan opportunity from the State Treasurer's Office (State of California). The application deadline was July 31, 2023. Total estimated funding is $150M. Applicant types listed as eligible include nonprofit and public agency. It is listed on the California Grants Portal. Cost sharing is not required.

Summary assembled from the official notice's fields. The official notice governs.

Key facts

Jun 26, 2023Posted
Jul 31, 2023Application deadline

Opened: Jun 26, 2023
Close date: Jul 31, 2023
Award floor: Not specified
Award ceiling: Not specified
Est. total funding: $150,000,000
Expected awards: Not specified
Matching funds: Not required
Funding instrument: Loan

Program details (as published on the California Grants Portal)

Type: Loan
Funding source: State — The Distressed Hospital Loan Program Fund
Matching funds: Not Required — none
Funding method: Advance(s) — none
Estimated number of awards: Dependant on number of submissions received, application process, etc.
Estimated award amounts: Dependant on number of submissions received, application process, etc.
Award period: 6/16/23 - 7/31/23
Expected award announcement: Aug. or Sept. 2023
Letter of intent: Not required
Geography: none
How to submit: By email: chffa@treasurer.ca.gov
Latest change note: time

Who can apply

Applicant categories as listed on the California Grants Portal. GrantsJunction maps them to detailed applicant types for search and matching.

Nonprofit
Public Agency

Additional information on eligibility (from the listing)

Eligible hospitals cannot belong to an integrated health care system with more than two separately licensed hospital facilities.

Can your organization apply?

A quick check against the listed applicant types — other requirements in the notice still apply.

Based on the published notice. Review the official notice for complete eligibility requirements.

What it funds

Purpose and description as published on the California Grants Portal.

Purpose

It is intended to offer interest-free cashflow loans to not-for-profit and public hospitals in significant financial distress or to governmental entities representing a closed hospital to prevent the closure of or facilitate the reopening of the hospital.

Description

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 page on the agency site ↗

Past applications & awards

Historical data · not a prediction

Reported by the agency for this listing

Fiscal year 2023–2430 applications · 16 awards

Counts as published on the California Grants Portal. Award counts can read zero until decisions are announced.

Awards published: 16
Total awarded: $267,468,594
Median award: $12,175,000 calculated
Smallest – largest: $2,700,000 – $39,268,594

Recipients by type: Public Agency (8), Nonprofit (8)

Areas served: Riverside County (2), Imperial County (2), Sonoma County (1), San Benito County (1), Madera County (1), Tulare County (1), Kern County (1), San Diego County (1), Los Angeles County (1), Mariposa County (1), Alameda County (1), San Joaquin County (1)

Largest awards to organizations

Madera Community HospitalDistressed Hospital Loan Program$39,268,594 · FY 2023–24
Tri-City Healthcare District DBA Tri-City Medical CenterDistressed Hospital Loan Program$33,200,000 · FY 2023–24
Dameron Hospital AssociationDistressed Hospital Loan Program$29,000,000 · FY 2023–24
Pioneers Memorial Healthcare District DBA Pioneers Memorial HospitalDistressed Hospital Loan Program$28,000,000 · FY 2023–24
El Centro Regional Medical CenterDistressed Hospital Loan Program$28,000,000 · FY 2023–24
Kaweah Delta Health Care District DBA Kaweah HealthDistressed Hospital Loan Program$20,750,000 · FY 2023–24
Hayward Sisters Hospital DBA St. Rose HospitalDistressed Hospital Loan Program$17,650,000 · FY 2023–24
Martin Luther King, Jr. Los Angeles Healthcare Corporation DBA Martin Luther King, Jr. Community HospitalDistressed Hospital Loan Program$14,000,000 · FY 2023–24
Chinese Hospital Association DBA Chinese HospitalDistressed Hospital Loan Program$10,350,000 · FY 2023–24
San Gorgonio Memorial Healthcare DistrictDistressed Hospital Loan Program$9,800,000 · FY 2023–24

Source: California Grants Portal grant award data. Awards to individuals are counted but not named. Past awards show who was funded; they do not predict future decisions.

Program contact (as published)

chffa@treasurer.ca.gov
1-916-653-2799

Quick answers

Who is eligible to apply for “Distressed Hospital Loan Program”?

The official listing names these applicant types as eligible: Nonprofit and Public Agency. It adds: “Eligible hospitals cannot belong to an integrated health care system with more than two separately licensed hospital facilities.” Additional restrictions may apply; review the full guidelines.

How much funding is available through “Distressed Hospital Loan Program”?

Per the notice, total estimated program funding is $150,000,000.

How do I apply for “Distressed Hospital Loan Program”?

Applications go directly to State Treasurer's Office, not through GrantsJunction. Submission: by email to chffa@treasurer.ca.gov. Read the program guidelines on the agency's site first; state programs set their own forms and registration requirements.

Other open California state opportunities, matched on agency, categories and wording.

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