State Treasurer Fiona Ma announced the approval of a $2 million low-interest loan to San Benito County’s hospital to replace a 50,000-square-foot roof in such dire need of repair that a portion failed in recent years, causing a halt in services for several months and a loss of revenue.
The two percent, 20-year loan was issued through the California Health Facilities Financing Authority (CHFFA), chaired by Treasurer Ma, for the benefit of San Benito Health Care District doing business as Hazel Hawkins Memorial Hospital (San Benito).
The loan comes from the Healthcare Expansion Loan Program (HELP II), administered by CHFFA. The program is aimed at small and rural facilities, which often do not have access to low-cost loans. San Benito expects to begin the project in August 2021 in order to complete the new roof by late fall 2021.