Atlana-based SunLink Health Systems has announced it has closed a $5 million loan from Pioneer Bank SSB, partially guaranteed under the U.S. Department of Agriculture, Rural Development Business & Industry Program, to fund improvements at Callaway Community Hospital in Fulton, Mo., and to refinance existing debt.
Specifically, SunLink plans to use $1.5 million of the loan at Callaway for general improvements, to build an inpatient geriatric psychiatry unit and for working capital. The additional funds will be used to refinance a portion of the company's senior debt. The loan is repayable monthly over 25 years at floating prime rate plus 1.5 percent.
SunLink COO Ron Turner to Also Serve as Chief Development Officer
SunLink, Foundation Healthcare Call Off Merger
Specifically, SunLink plans to use $1.5 million of the loan at Callaway for general improvements, to build an inpatient geriatric psychiatry unit and for working capital. The additional funds will be used to refinance a portion of the company's senior debt. The loan is repayable monthly over 25 years at floating prime rate plus 1.5 percent.
More Articles on SunLink Heath Systems:
SunLink to Sell Memorial Hospital of Adel in GeorgiaSunLink COO Ron Turner to Also Serve as Chief Development Officer
SunLink, Foundation Healthcare Call Off Merger