Porterville, Calif.-based Sierra View Medical Center is applying for a $17.35 million loan from the newly created Distressed Hospital Loan Program as it looks to stay afloat, The Porterville Recorder reported Aug. 2.
In March, CEO Donna Heffner, RN, BSN, wrote to elected officials that the hospital would be unable to provide care "unless something changes." If the loan is approved, the hospital will use it for working capital, staffing development and its graduate medical education program.
The hospital is one of 16 across the state vying for $300 million in zero-interest loans that could help them stay afloat.
The state will make final loan decisions in August.