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Wednesday, November 04, 2009
NH company gets $136M financing plan for hospitals
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A company that operates two hospitals and a medical office in New Hampshire is getting a $136.4 million federal loan for expansion and renovation projects.

The mortgage loan was issued to LRGHealthcare in Laconia, a not-for-profit corporation that owns Lakes Region General Hospital in Laconia, Franklin Regional Hospital and the office in Meredith.

The loan is made possible through a mortgage insurance program under the Federal Housing Administration

Projects include a new patient tower, energy plant and lobby at the Laconia hospital. Franklin Regional Hospital will renovate its emergency department. The medical office will be expanded.

By insuring the mortgage loan, FHA is enabling the hospital to obtain lower cost financing, saving an estimated $18.8 million in interest expense over the life of the loan.
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