On September 18, 2013, Renville County Hospital (RCH) in Olivia, Minnesota was awarded a $19 million USDA Rural Development Community Facility Direct Loan for their new Critical Access Hospital. AgStar Financial Services will provide a $4.75 million USDA Guaranteed loan, and assist RCH in acquiring interim financing for the Direct Loan.
RCH’s CEO, Nate Blad, said “the new medical center is vital to carrying out our strategic initiatives going forward; which include recruiting and retaining quality providers, staff development and clinical process improvement, along with the addition of robust clinical service offerings”.
As Owner’s Representative for RCH, Yanik played an integral part in securing the financing for this project. Construction is expected to begin in spring 2014. Congratulations RCH and the Renville County community!
Renville County Hospital Receives USDA Financing
