Blountstown, Fla.-based Calhoun Liberty Hospital has received a $9.6 million bridge loan from XRL ALC, an affiliate of X-Caliber Rural Capital, and American Lending Center to support a $58 million renovation project.
The two-year loan is interest only and will provide support until the hospital can access around $30 million in approved grants for its project.
The project will develop a new 39,500-square-foot hospital, which will bring around 25 new full-time positions and 19 part-time roles in the first two years, increasing the existing hospital's 157 positions to almost 200.
Construction on the project is expected to create around 200 jobs. The project is estimated to be wrapped up by fall of 2025.
Editors note: This story has been updated as of April 29 at 9:15 a.m. C.T.