Coronavirus (COVID-19) Relief Center
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These resources – like the public health crisis itself – are constantly evolving and are only current as to the date of publication. This page was last updated on August 21, 2020.
Description of Program and Relief
Health Care Provider Emergency Loan Program
A $6 million loan program to offset some of the unforeseen expenses incurred by health care providers in the COVID-19 pandemic. Loans will (1) have no application, initial, or annual fees; (2) be at an interest rate of 0%; and (3) be secured solely by federal and State grants and other financial aid received by the recipient health care organizations as a response to COVID-19, as well as grants from other private and public sources related to COVID-19 resilience and anything acquired with the proceeds thereof.
Government or Lead Agency
New Jersey Health Care Facilities Financing Authority (NJHCFFA)
March 29, 2020, continuing indefinitely
Decisions on the loan recipients will be made according to the priority and amounts set by a committee consisting of the New Jersey Commissioner of Health or her designee, the Executive Director of the Authority and the Authority’s Director of Research, Investor Relations and Compliance. Additionally, the loan will specify how the requested funds will be used: for instance, the acquisition of any property; or acquisition, construction, or renovation of any building; acquisition of any equipment, including ventilators; acquisition of any supplies, medications, or personal protective equipment; hiring of any staff, consultants, or temporary workers; or reopening formerly closed hospital beds/wings, etc.
Application Deadlines (If Applicable)
Contact for More Information
Health care organizations treating COVID-19 patients may contact the New Jersey Health Care Facilities Financing Authority at firstname.lastname@example.org they are interested in applying for a loan through the program.
List of Additional Information
More information is available here.
© 2020 Paul, Weiss, Rifkind, Wharton & Garrison LLP. This does not constitute legal advice and does not create an attorney-client relationship. In some jurisdictions, this publication may be considered attorney advertising. Past representations are no guarantee of future outcomes.