StroudwaterGCL has completed $58-million in financing for Towner County Medical Center in Cando, North Dakota.
The loan package, guaranteed by the U.S. Department of Agriculture, will go toward constructing a 76,000-square-foot critical access hospital and nursing home. The project will consolidate the Towner County Medical Center and the Towner County Living Center, located across town from each other, significantly improving patient care and bringing critical healthcare access to rural communities throughout the region.
The new facility will have 30 skilled nursing beds, five basic care beds and eight inpatient rooms. Two of the inpatient rooms will be specifically for isolation in the case of airborne illnesses. Services offered at the new hospital and nursing home will include emergency care, diagnostic imaging, physical therapy, laboratory work and outpatient surgery.
StroudwaterGCL is a partnership between Greater Commercial Lending, which provides access to government-guaranteed credit to organizations in rural and under-served areas, and Stroudwater Associates, which delivers strategic advice to rural hospitals and health systems.
The facility is expected to open in 2024 and will bring an estimated 95 jobs to the community.
