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News Rural hospitals can use new fund to win financing 10/21/07 ASHEVILLE - Rural hospitals across Western North Carolina and the state may be able to find more financing for critical improvements and new equipment like MRIs and CAT scan machines, thanks to a new fund announced today by Lt. Gov. Beverly Perdue. Perdue was at Mission Hospitals this morning to launch the Rural HOPE or Hospital Project Enhancements, along representatives from North Carolina Hospital Association, the Health and Wellness Trust Fund, the Golden LEAF Foundation, and the North Carolina Rural Center. Rural HOPE will enable North Carolina's rural hospitals to secure low-cost financing for needed upgrades and renovations in facilities, for clinical equipment, and for health information technology. "Hospitals are the lifeblood for many of our rural regions," said Perdue. "Making these investments in our rural hospitals is crucial to the health of our people and the economic well-being of these communities." In many areas, rural hospitals often represent the only access to critical care for fifty or more miles. And according to recent estimates, North Carolina's rural hospitals provide $1.65 billion in labor income and $4.3 billion annually in overall economic benefit to their local communities. "If just one of these hospitals shuts their doors, it hinders all economic growth as businesses will simply not relocate in areas without access to health care," added Perdue. Rural HOPE will create a credit enhancement fund that will jumpstart a rural hospital's ability to gain capital financing from traditional private lending institutions. An initial credit fund of $2 million will help leverage up to an additional $50 million in capital financing investment for many rural hospitals. The Health and Wellness Trust Fund, chaired by Perdue, is granting $1 million for the credit fund and the Golden LEAF Foundation will provide a matching grant of $1 million to support Rural HOPE. Critical Access Hospitals with 100 beds or fewer in rural counties will be eligible for the low-cost financing. Rural HOPE will be administered through the North Carolina Hospital Association. Learn more www.citizen-times.com/apps/pbcs.dll/article?AID=200771005020
Golden LEAF Foundation |