Floyd County Medical Center Gets $27.5 Million Loan for Phase II Construction

With Floyd County Medical Center (FCMC) preparing to celebrate its new three-story rural health clinic in Charles City with a July ribbon-cutting, it will soon embark on another ambitious construction endeavor. 

The U.S. Department of Agriculture Rural Development (USDA) has approved a $27.5 million loan for FCMC to expand and renovate its facility. The loan is through the Rural Development’s Community Facilities Direct Loan & Grant Program.

In addition to the USDA loan, FCMC will contribute $4 million in equity and $8 million in commercial lending. The total cost of the Phase II project is estimated at $39.5 million towards FCMC’s expansion plans including a one-story addition with five new operating rooms, increased space for the materials management department, and a new cafeteria and kitchen.

USDA State Director Mike Sexton said, “This will improve quality of care, modernize the hospital, and provide more space for healthcare providers.”

FCMC CEO Dawnett Willis said, “We are grateful for the USDA and their commitment to supporting rural, critical access hospitals like FCMC. This loan for Phase II will bring FCMC into the future of healthcare and allow our hospital to have space and opportunities for continued growth.”

FCMC anticipates that Phase II will take approximately two years to build and hopes to break ground in the fall of 2026.

In addition to Phase II, FCMC is also in the process of finalizing plans for Phase III, which includes the Stille Cancer Center. Construction for Phase II and Phase III will run concurrently as two separate projects and be completed sometime in 2028.

*Click here to read more