Loan to help fund North Carolina hospital expansion

Smithfield, NC-based Johnston Memorial Hospital has received approval for a $137 million government-backed loan to finance its expansion plans. The nonprofit hospital plans to expand its Smithfield facility and build a new medical center in Clayton. The hospital expects to break ground this summer on a $31 million outpatient center and emergency room in Clayton, and plans to erect a five-story, 110-bed tower and to renovate its 56-year-old core building in Smithfield.