BOARDMAN, Ohio (WKBN) – Ohio Treasurer Robert Sprague is stepping in to help the state’s hospital corporations keep down their borrowing costs.
The treasurer’s office has initiated a program to ensure lower-interest rates for hospital corporations like Mercy Health borrow to purchase needed supplies
Since the start of the Covid-19 pandemic, some have had to paid rates as high as 8%. Sprague’s program would guarantee rates of just 2% as long as the health emergency remains in effect.
Mercy Health and its parent company, Bon Secours, are among half a dozen corporations that have signed up for the program.