USDA Rural Development awarded funding for the new RC Hospital & Clinics Medical Center. The long-term financing package is a combination of public and private placement. USDA Rural Development provides 80% of the long-term financing and while private placement from AgStar comprises the remaining 20%. Likewise, AgStar will collaborate with local area lenders to provide interim construction financing for the project.
CEO Nathan Blad has been working jointly, over the last several months, with USDA Rural Development and AgStar to procure the funds necessary for this long-term commitment to healthcare of Renville County citizens. 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.”