El Centro (Calif.) Regional Medical Center is applying for a $40 million loan from the state of California's newly created Distressed Hospital Loan Program as it looks to stay open, inewsource reported July 25.
So far, 16 facilities have applied for the loan program. The state has $300 million available for loans, but the hospitals have requested more than $385 million.
El Centro revealed an operating income of $17.8 million under budget for the fiscal year ending on March 31. Earlier this year, the hospital received a $5 million loan from the state.
The state will make lending decisions in August.