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• IRA J. MORRISON AND ASSOCIATES <br />11aiiowa-di Cewsrhaab <br />'9d�c4 A,,h%-9a dy T. p i ram.... <br />Jn- wec.�.n9 6 J�La.�wuwt 3-. wlaa <br />- --- - <br />EXECUTIVE LIFE BUILDING <br />N E V/ J X 9777 WILSHIRE BLVD. <br />✓�` SUITE 711 <br />BEVERLY HILLS. CALIF 90212 <br />G-� <br />213 i 273-4266 <br />TO: HOSPITAL ADMINISTRATORS <br />SUBJECT: F.H.A. FINANCING FOR HOSPITALS <br />The recently revised FHA Section 242 of "The National <br />Housing Act" is of tremendous importance to hospital <br />administrators seeking low-cost/long-term financing <br />for rehabilitation or expansion of present or new <br />facilities. <br />FHA insured loans at 7% interest, amortization of 25 <br />years and a loan to value ratio of up to 90% are <br />available now for qualified "proprietary" and "non- <br />profit" hosptials. <br />FHA includes in this program; funds to rehabilitate <br />all existing facilities, modernize operating rooms, <br />medical, surgical and intensive care units, et cetera. <br />Non -realty equipment, such as beds, diagnostic, radio- <br />logy, cardiopulmonary and laboratory items are included <br />in the long-term loan. <br />Refinancing of existing indebtedness and acquisition of <br />"non-profit" facilities by proprietary hospitals, are now <br />possible as long as at least 20% of the new loan is used <br />to rehabilitate or add to the existing facility. Half of <br />the 20% can be used to purchase T:ew equipment. <br />Need more information? Why not call us today! r <br />,A <br />