Dickinson County Healthcare System signs closing papers for $17M USDA loan

IRON MOUNTAIN, Mich. (WLUC) - Dickinson County Healthcare System (DCH) has signed the closing documents for a multi-million-dollar USDA loan.

Tuesday, Chuck Nelson, DCH CEO; Brian Donahue, DCH CFO; and the DCH Hospital Board Executive Committee members signed the closing documents to secure the nearly $17 million USDA loan.

DCH has allocated the money for debt refinancing and major capital purchases, including a new Linear Accelerator used for cancer radiation treatment, a new CT scanner, a new MRI, and a new Nuclear Med Spect. CT scanner.

These purchases provide our region with the most technologically advanced equipment available, right here in our community, close to home.

Brian Donahue, CFO, said, “This is the culmination of a two-year process, and we are glad to get the loan documents signed and the money deposited into our account. The improved performance of the hospital over the past two years ultimately made the loan possible.”

Chuck Nelson, CEO, added, “Closing the USDA loan is a significant win for our organization as it allows us to focus on our future and the growth of this health system. Thank you to all who supported our pursuit of the loan. And hats off to Brian and his team for getting this across the finish line.”