Caribou hospital gains $3 million federal loan

CARIBOU – The U.S. Department of Agriculture has approved a $3 million Community Facility Direct Loan for the Caribou Hospital District. The funding is being made available through the USDA’s Rural Development Agency, according to U.S. Rep. John Baldacci, and U.S. Sens. Olympia J. Snowe and Susan M. Collins.

The $3 million, low-interest loan will be used to purchase capital equipment and update diagnostic equipment and the computer software systems. These federal resources also will be used to renovate portions of the hospital’s roof, operating and emergency rooms, and adjacent areas. The loan is expected to be financed for 15 years at 4.5 percent interest.

“As a member of the House Agriculture Committee, I am pleased the USDA will be making this substantial loan available,” Baldacci said. “It represents an important partnership between the federal government and the Caribou area. This is a significant investment in the people and quality of life in Aroostook County.”