Revolving Loan Fund
Since 1997, SCORH has successfully leveraged nearly $135 million dollars in coordination with local lenders, saving or creating over 838 jobs in rural South Carolina.
Securing necessary capital to expand and maintain services continues to be a constant struggle for health care professionals in rural and underserved areas in our state. Providers contend with the need to upgrade equipment, implement and upgrade Electronic Health Records, as well as renovate aging rural health care facilities. These vitally important financial resources are often less readily available to rural health care providers compared to their urban counterparts. Many rural providers do not have the expertise or the time to evaluate the various capital vehicles to determine which best fits their needs. This is where SCORH steps in with just-in-time technical assistance to ensure providers are able to access the capital they need to do business.
SCORH’s Revolving Loan Program assists rural health care facilities and providers in accessing affordable capital to meet their financial needs. By bringing together a variety of funding sources, SCORH is often able to provide lower interest rates and increase terms for these loans. Loans are used by South Carolina’s Rural Health Clinics, Federally Qualified Health Centers (FQHCs), private medical and dental practices, as well as rural hospitals, for renovation, new construction, purchasing major medical equipment, debt restructuring, establishing lines of credit, and financing Electronic Health Record systems.
Recent examples of the facilities we have worked with and the types of loans we have provided include the following:
- Small Rural Hospital – Working Capital Loan
- FQHC – Equipment Loan
- Assisted Living Facility – Construction Loan
- Dental Practice – Loan to purchase new Electronic Health Record system
- Eye Clinic – Real Estate Loan