NASHVILLE, Tenn., June 10, 2021 - USDA Rural Development is pleased to participate in the grand re-opening and ribbon cutting ceremony for Lauderdale Community Hospital in Lauderdale County, Tennessee.
“If 2020 has taught us anything, it is that rural hospitals are critical to the success of our communities,” said RHG Consolidated LLC President Larry Arthur. “USDA provided a lifeline to Lauderdale Community Hospital in 2020. Without their support, it is likely the community would not have had a local hospital to weather the pandemic. We are grateful for USDA and their commitment to Ripley and the surrounding communities.”
Lauderdale Community Hospital received a $7.5 million loan through the Business & Industry Loan Guarantee program in partnership with Stone Bank headquartered in Mountain View, AR. This Rural Development investment will be used for the purchase of hospital assets. Lauderdale Community Hospital LLC and RHG Consolidated LLC will purchase the assets of the existing Lauderdale Community Hospital to prevent the closing of the rural hospital in western Tenn. This purchase will also maintain rural area access to emergency medical care, employment of high skilled professionals, and the opportunity to create new job opportunities on site. Additional funding includes a $837,500 borrower contribution.
“USDA is proud to partner with RHG and Stone Bank to make this project a reality,” said USDA Rural Development Area Director Joel Howard. “Access to healthcare in rural areas is a challenge because of the many closures in recent years. We are hopeful that this partnership will continue for years to come.”
Others participating in the event include Stone Bank of Arkansas, Lauderdale County Mayor Maurice Gaines, City of Ripley Mayor Craig Fitzhugh, Hospital Administrator Norman Hendren, Representatives from U.S. Senator Marsha Blackburn and Bill Hagerty Office, Tennessee 8th Congressional District Representatives and USDA Rural Development – Tennessee Representatives Roe Hughes, Area Specialist and Joel Howard, Area Director.
Under the Biden-Harris Administration, Rural Development provides loans and grants to help expand economic opportunities, create jobs and improve the quality of life for millions of Americans in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural, Tribal and high-poverty areas. To learn more, visit www.rd.usda.gov/tn. If you’d like to subscribe to USDA Rural Development updates, visit our GovDelivery subscriber page.
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