3 Montana Health Care Centers to Receive $1.4 Million in Emergency Loans

HELENA, Mont. – Three Montana health care centers will receive emergency loan dollars made available by the Montana Facility Finance Authority through a governor’s directive issued late last month. Two additional facilities have financing in process.

On March 31, Governor Steve Bullock issued a Directive to support small, rural hospitals and facilities in need of operating expenses because of the strain COVID-19 has put on healthcare organizations. As hospitals have pushed back non-critical procedures and patient appointments to slow the spread of novel Coronavirus and to prepare for caring for virus patients, some Montana hospitals report having no available cash on hand, or only days’ worth of operating funding available.

“In a matter of 16 days we’ve been able to fund three emergency loans and are in the process of funding two more that will keep the doors open and essential healthcare workers paid at facilities across Montana,” MFFA Executive Director Adam Gill said. “We continue to work with health care centers daily to ensure rural and small facilities remain open and able to provide access to quality health care for Montanans.”

Loans have been made to or are in process for:

  • McCone County Health in Circle, $400,000 Emergency Loan and Emergency Forbearance was approved on its three existing MFFA Direct Loans
  • Roosevelt Medical Center in Culbertson, in process
  • Glendive Medical Center in Glendive, $500,000 Emergency Loan
  • Alluvion Health in Great Falls, $500,000 Emergency Loan
  • Granite County Medical Center in Philipsburg, in process

The short-term, low-interest rate emergency loans are available for up to $500,000. Learn more at https://mtfacilityfinance.com/Programs/Emergency-Loan-Program.