California Health Facilities Financing Authority
HELP II Financing Program
The Authority recognizes the difficulty small and rural health facilities have in obtaining adequate financing for their capital needs. The HELP II Financing Program provides three percent, fixed interest loans of up to $750,000 to California’s non-profit small and 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. Since the program's inception in 1988, the Authority has loaned more than $45 million to small and rural health facilities.
In January 2007, the Authority board raised the maximum loan amount facilities can receive under HELP II from $500,000 to $750,000. Under a second change, small facilities with gross annual revenue of up to $30 million can obtain loans. And to expand access to financing for rural facilities, the Authority board voted to exempt such facilities from the gross revenue limit. Applications are accepted on a monthly basis.