Cambria County Approved For $6 Million Loan
Posted: 2:14 pm EST November 7, 2008Updated: 2:19 pm EST November 7, 2008
Cambria County has been approved for a $6 million loan to help pay for fiscal losses at the county-run nursing home.The loan will help the county pay for debt owed by Laurel Crest Nursing Home, which loses between $400,000 and $600,000 a month.County commissioners also restructured the nursing home's budget."The $6 million does make the county whole again. Laurel Crest must be and will be profitable," said commissioner P.J. Stevens.The county does not yet have the money in had. It must first get approval from the courts, something officials hope will happen in less than 20 days.The loan will be provided by First National Bank and must be paid back within 5 years.Stay with WJAC-TV News and WJACTV.com for continuing coverage.
Previous Stories:
- October 24, 2008: Cambria County Applies For $6 Million Loan
- October 22, 2008: Nearly 15 Percent Of Cambria County Residents Below Poverty Level
Copyright 2009 by WJACTV.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
DTV Answers
News Partners Across The Alleghenies
Great Pets
Celebrity Mug Shots 
