california local news

Madera Community Hospital gets first installment of loan to reopen

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By Yosi Yahoudai
Founder and Managing Partner

Tuesday, June 18, 2024 7:21PM

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.

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.

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About the Author
Yosi Yahoudai is a founder and the managing partner of J&Y. His practice is comprised primarily of cases involving automobile and motorcycle accidents, but he also represents people in premises liability lawsuits, including suits alleging dangerous conditions of public property, third-party criminal conduct, and intentional torts. He also has expertise in cases involving product defects, dog bites, elder abuse, and sexual assault. He earned his Bachelor of Arts from the University of California and is admitted to practice in all California State Courts, and the United States District Court for the Southern District of California. If you have any questions about this article, you can contact Yosi by clicking here.