Woonsocket’s Thundermist Health Center last month terminated the contract of its former CEO and president and laid off 124 people.
Now the nonprofit is asking other health insurers and providers for $8 million in loans to cover cash flow shortfalls.
PBN Branded Content
Rhode Island small business sees significant annual energy savings
The Rhode Island Energy Small Business Program offers significant incentives to property owners for comprehensive…
Learn More
Interim CEO Maria Montanaro says the loans would be paid back from a yet-to-be-received employee retention tax credit from the IRS worth $9.8 million.
If Thundermist does not get the loans by the end of the month, she told PBN, the health center could go into receivership. It serves about 62,000 people annually and employs approximately 780.
- Advertisement -
