Ridgecrest Regional receives state financial help for pandemic recovery tehachapinews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tehachapinews.com Daily Mail and Mail on Sunday newspapers.
A $5.5 million, no-interest state loan approved this week for Ridgecrest Regional Hospital is expected to help the area’s only medical center rebound from financial problems left over from the
AB 112 creates the $150 million Distressed Hospital Loan Program, intends to provide zero-interest cash flow loans to qualified not-for-profit and public hospitals experiencing financial distress, as well as qualified government entities representing hospitals.
Assembly Bill 112, passed by the California Senate and Assembly and expected to be signed by California Governor Gavin Newsom, establishes the Distressed Hospital Loan Program and the Distressed Hospital Loan Program Fund, which are designed to provide interest-free cashflow loans.
California lawmakers have greenlighted emergency loans to support struggling hospitals facing financial challenges across the state. These loans will serve as a critical lifeline,.