This program will provide low-interest rate loans to California's non-profit small or rural health facilities in an efficient, timely, and cost-effective manner.; Eligibility -Must be a health facility as defined in the Authority's Act (Section 15432(d) of the California Government Code) -Must be a non-profit 501(c)(3) corporation and qualify as a small or rural health facility or public health facility (e.g., district hospital) as defined in the Authority's Act (Section 15432(e) of the California Government Code)  -Small facilities must have annual gross revenues of $30 million or less (no revenue limit for rural facilities or district hospitals) -Must be licensed by the State of California, typically through the Department of Health Care Services, Public Health, or Social Services -Must have been in existence for at least three years, providing the same types of services -Must demonstrate evidence of discal soundness and the ability to meet the terms of the proposed loan -Facility must be certified, organized, maintained and operated for the diagnosis, care, prevention, and treatment of human illness, or physical, mental, or developmental disability, including convalescence and rehabilitation and including during care during and after pregnancy Use of Funds Funds may be used for: -Purchase, construction, renovation, or remodeling of real property -Purchase equipment and furnishings -Perform feasibility studies, site tests, and surveys associated with real property -Pay permit fees, architectural fees, and pre-construction costs -Refinancing existing debt Loan Terms -Minimum loan amount of $25,000 -Maximum loan amount of $1.5 million ($1 million for refinancing existing debt) -Interest rate of 2% (3% for refinancing existing debt) -Maximum loan maturity depends on use of funds.  Between 5 years for equipment and furnishings and 20 years for the purchase, construction and renovation of real property (15 years for refinancing existing debt) -Gross revenue pledge, as well as a lien on the equipment or property, is required -Maximum loan-to-value ratio of 95% -Borrowers must contribute a minimum of 5% (in the form of cash or documented project expenditures) toward project costs -Proforma debt service coverage of at least 1.0x Fees -$50 non-refundable application fee -Initial fee of 1.25% of the loan amount payable at closing -No ongoing program fees Required Documentation -Three most recent fiscal years of audited financial statements -Proof of adequate property and business insurance