Hospital Receives $12 Million USDA Loan for Expansion
Senator Blanche Lincoln announced Friday, May 28th that Drew Memorial Hospital has been approved a $12 million low-interest loan to help pay for the first phase of the hospital’s modernization plan. The plan, which calls for a new allied health building, a new 42-bed patient wing, and new surgery and obstetrics unit, is expected to cost about $21 million. The balance will be funded through hospital revenue and loans from local banks.
Lincoln, who made a campaign stop in Monticello recently commented, “This funding will help Drew Memorial Hospital continue to provide quality care to the community and surrounding area. I am pleased that through my role as Senate Agriculture Committee Chairman, I was able to help secure these funds.”
“By receiving this USDA loan we can meet our commitment to provide the very best health care services, equipment, and facilities to the people of this region,” added Michael Layfield, Drew Memorial Hospital CEO. “Now we can complete the first phase and within the next several years we can hopefully complete the modernization plan, giving the people in this area the most modern health care facility in Southeast Arkansas.”