PA Governor Tom Wolf announced that nearly $324 Million in funding has been awarded to 31 hospitals across the Commonwealth through the "Hospital Emergency Loan Program" or HELP, which provides short-term financial relief as hospitals combat the surge of COVID-19 cases in their area.
"As Pennsylvania continues to practice social distancing, we have successfully flattened the curve, but we know that our fight against COVID-19 is far from over," said Gov. Wolf. "This funding will allow our hospitals to hold steady in that fight with the peace of mind that they have access to the resources they need to provide critical care to their communities."
The loan package was made available to the Commonwealth's hospitals to provide immediate financial support for working capital to ensure that these facilities have sufficient personnel, equipment, and personal protective equipment.
The funding was dispersed by the Pennsylvania Infrastructure Investment Authority (PENNVEST) and is being administered by the Pennsylvania Department of Community and Economic Development (DCED) through the Pennsylvania First Program (PA First).
Pennsylvania health care facilities licensed as hospitals by the Pennsylvania Department of Health under the Health Care Facilities Act of 1979 that are eligible to receive federal grant funding through the CARES Act are eligible for HELP.
For the most up-to-date information on COVID-19, Pennsylvanians should visit on.pa.gov/coronavirus.
Duane Morris has created a COVID-19 Strategy Team to help organizations plan, respond to and address this fast-moving situation. Contact your Duane Morris attorney for more information. Prior Alerts on the topic are available on the team's webpage.
Originally published 30 April 2020
Disclaimer: This Alert has been prepared and published for informational purposes only and is not offered, nor should be construed, as legal advice. For more information, please see the firm's full disclaimer.
