An assisted living facility and long term care provider in Pennsylvania will use a $40 million loan from the U.S. Department of Agriculture to build a 123-unit assisted living facility and a 10- to 15-bed memory care unit.
Assisted Living: Funding
The project is one of 97 funded in 2017 through the Community Facilities Direct Loan Program to help improve access to healthcare services for 2.5 million people in rural communities in 41 states, the USDA said. The agency said its total investment this year was more than $1 billion.
“USDA invests in a wide range of healthcare facilities — such as hospitals, clinics and treatment centers — to help ensure that rural residents have access to the same state-of-the-art care available in urban and metropolitan areas,” U.S. Agriculture Secretary Sonny Perdue said. “I understand that building a prosperous rural America begins with healthy people. Ensuring that rural communities have access to quality medical care is a top priority for USDA.”
Loans through the program can be used to fund essential community services. For healthcare, this includes constructing, expanding or improving assisted living facilities, nursing homes, hospitals and medical and dental clinics, as well as purchasing equipment. Public bodies, nonprofit organizations and federally recognized tribes in rural areas and towns with up to 20,000 people are eligible for the loans.