Success Stories |
Iron County Hospital
Iron County Hospital, Ironton, Missouri
We assisted this county in financing a new, 36,000 square foot, 15 bed critical access hospital, that will be located in Ironton, Missouri. It had been many years since the county had an acute care hospital and their residents were forced to travel upwards of 40 minutes to the nearest hospital.
We assisted in developing the total project budget, completing the loan applications, selecting architects and contractors, responding to a wide range of lender inquiries, and then securing the $8,000,000, 25 year, fixed, 4.125% direct loan from the USDA. In addition, we assisted the county in securing $3,000,000 in various grants. The hospital broke ground in December 2005 and was open for business in January 2007. This entire 36,000 square foot, energy and labor efficient facility was built, equipped and furnished for $11,000,000 (at the time a national governmental lender was stating and promoting a critical access hospital price tag of $25,000,000!).
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