Columbus, Ohio-based banking firm Lancaster Pollard led the team that structured the financing for the new facility, which is expected to open in early 2014.
The new facility will expand the 21-bed critical access hospital’s outpatient services and replace the hospital’s current facility, which was built in 1951.
Sioux Center Community Hospital’s $55 million in funding for the facility includes a $26-million direct loan from the U.S. Department of Agriculture Community Facilities program, $10 million in tax-exempt bonds, $8.5 million in donations and pledges raised from the community and $10.5 million from Sioux Center Community Hospital and Health Center.
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