New program could help Ohio hospitals keep down borrowing costs

Local News

Since the start of the Covid-19 pandemic, some have had to paid rates as high as 8%

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.

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