Press Release



March 27, 2020


CONTACT: Mark Hopkins, Executive Director


NJHCFFA Announces COVID-19 Aid Program


Trenton, NJ –

Governor Phil Murphy today announced a new source of funds to assist New Jersey’s health care organizations with expenses related to the COVID – 19 pandemic.

“Yesterday, the New Jersey Health Care Facilities Financing Authority approved a $6,000,000 emergency loan program for our health care organizations in their fight against COVID-19,” Governor Murphy said. “This is yet another example of our state agencies pitching in to help during this crisis.”

The COVID-19 Aid program is a $6,000,000 loan program to offset some of the unforeseen expenses incurred by this pandemic.  The loan will:


  • have no application, initial or annual fees;
  • be at an interest rate of 0%;
  • be secured solely by federal and State grants and other financial aid received by the recipient health care organizations as a response to COVID-19, as well as grants from other private and public sources related to COVID-19 resilience (together “COVID-19 Aid”) and anything acquired with the proceeds thereof. 

Decisions on the loan recipients will be made according to the priority and amounts set by a committee consisting of the New Jersey Commissioner of Health or her designee, the Executive Director of the Authority and the Authority’s Director of Research, Investor Relations and Compliance. Additionally the loan will specify how the requested funds will be used: for instance, the acquisition of any property, or acquisition, construction or renovation of any building, acquisition of any equipment, including ventilators, acquisition of any supplies, medications or personal protective equipment, hiring of any staff, consultants or temporary workers, or reopening formerly closed hospital beds/wings, etc.

Principal payments would be required within 30 days of receipt of any COVID-19 Aid by the recipient health care organization in the amount of such COVID-19 Aid received, if any, until the loan is fully repaid.

The New Jersey Health Care Facilities Financing Authority expects to begin receiving requests as early as next week.  Health care organizations treating COVID-19 patients may contact the New Jersey Health Care Facilities Financing Authority at if they are interested in applying for a loan through the program.

Mark Hopkins, Executive Director


Created in 1972 by an act of the Legislature to provide not-for-profit health care providers with access to low-cost capital, the Authority is the primary issuer of municipal bonds for New Jersey's health care organizations. During its 35-year history, the Authority has issued over $13 billion in bonds on behalf of over 140 health care organizations throughout the state.