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Health care providers can use the Opportunity Illinois interest rate reduction to help cover the costs of improvements, including construction expansion or new equipment.
Amounts and Terms:
- Borrowers can receive up to $10 million.
- The loan duration is two years with the possibility of a three-year extension.
- A site visit may be required for approval.
Interest Rates:
- Interest rates are indexed daily here or you may contact our office at (217) 782-2072. The listed rates are posted to give potential borrowers an indication of current rate figures. The final deposit rate is determined on the business day prior to issuing the loan.
Program Eligibility:
Loans must fund projects that enhance the healthcare services provided to the community. A participating financial institution must approve the loan before the health care provider takes part in the Treasurer’s program. Health care providers must complete and submit an application to the Treasurer’s Office prior to starting a project or making a purchase.
What entities can apply for the Hospital Loan Program?
Any hospital, clinic, group of medical doctors or specialists, or other medical facility in which medical services or skilled nursing care are prescribed by or performed under the general direction of persons licensed to practice medicine, dentistry, podiatry or surgery in this state or otherwise authorized by the laws of this state.
How to Apply:
If you have questions, please e-mail opportunityillinois@treasurer.state.il.us or call (312) 814-1244.
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