HELP II Loan Program
The Authority recognizes the difficulty small and rural health facilities have in obtaining adequate financing for their capital needs. The HELP II Loan Program provides two percent (2%) and three percent (3%)1, fixed interest rate loans of up to $1,500,0002 to California’s non-profit small or rural health facilities in an efficient, timely and cost effective manner. HELP II loans may be used to purchase or construct new facilities, remodel or renovate existing facilities, and purchase equipment or furnishings.
Small facilities with gross annual revenues of up to $30 million and rural facilities without any revenue limitations are eligible for loans under this program. Applications are accepted on a monthly basis.
1The 2% interest rate applies to loans approved from April 30, 2015 – April 30, 2017, and is effective for the life of the loan. Refinancing loans are not eligible for the 2% interest rate.
2In April 2015, the Authority board raised the maximum loan amount facilities can receive under HELP II Loan Program from $1,000,000 to $1,500,000. Refinancing loans are eligible up to $1,000,0000.
HELP II Loan borrowers must comply with California’s prevailing wage law under Labor Code section 1720, et seq. for public works projects. The Authority recommends applicants and borrowers consult with their legal counsel.