There is only one year left for hospitals to take advantage of a law giving community banks and their hometown hospitals new options for low-cost credit to fund renovations, expansions or other capital projects --- like installing an electronic health record. Even if you plan on accessing grant funding, this may be a good option for any in-kind contributions.
According to an H&HN article, most local banks don't know they can support the projects. So, look into the Housing and Economic Recovery Act of 2008 which gives home-loan banks the authority to provide credit enhancements to tax-exempt projects that qualify as "community investments". To find a Federal Home Loan Bank in your area visit http://www.fhlbanks.com/ and ask about a letter of credit for your capital project.
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