MADERA, Calif. (KFSN) -- Madera Community Hospital is getting closer to reopening after closing in January 2023. State Treasurer Fiona Ma says the hospital has now received the first installment of its $57 million loan granted through the state's Distressed Hospital Loan Program.
This initial amount is $15 million. The state says additional installments will be issued as the hospital shows a need for cashflow related to its larger reopening and turnaround plan. The loan will have to be paid back over six years.
Those payments are expected to start a year and a half after the loan term begins..
