County: Mingo

Jobs Retained: 52

CHARLESTON, WV – The West Virginia Capital Access Program (WVCAP) approved a loan of $375,000 for Williamson Memorial, a non-profit hospital based in Mingo County, WV.

Williamson Memorial primarily serves patients in Mingo and surrounding counties. They operate an 18-bed inpatient unit and provide laboratory, radiology, respiratory, physical therapy, dietitian/nutritional and pharmacy services. The hospital is in the process of opening the Emergency Department and has recently hired their Emergency Department Director. In addition, Williamson is actively launching women’s services in the community.

The mission of Williamson Memorial, Inc. is Health for Everyone! Williamson Hospital provides access to healthcare in a rural community, and strives to create a high-quality system of care to encourage wellbeing and to prevent, manage, and treat illness. The community benefits include employment, but also the return of local acute care to a rural WV community who experiences high incidents of chronic disease, and a reduction of out-of-network expense and travel time to receive care for vulnerable populations.

“One of the important aspects of the WVCAP is to help provide alternative capital resources to rural parts of West Virginia to help grow and sustain critical services to the area,” Andrew Zulauf, Executive Director of the West Virginia Jobs Investment Trust (WVJIT), says. “This transaction with Williamson Memorial is a great example of this goal.”

WVCAP provides West Virginia small businesses with debt or equity capital to expand and create jobs. WVCAP is designed to assist credit-worthy companies that may not fit traditional lending models. WVCAP is administered by WVJIT.

For more information or to apply for funds, contact the West Virginia Jobs Investment Trust at wvjit.wv.gov/wvcap.

About the West Virginia Jobs Investment Trust 
West Virginia Jobs Investment Trust (WVJIT) is a public venture capital fund created to develop, promote and expand West Virginia’s economy by making investment funds available to eligible businesses, thus stimulating economic growth and providing or retaining jobs within the State. WVJIT invests in early-stage, later-stage and mature small companies that wish to expand. Opportunities to create a significant number of jobs while maintaining economic balance are favorably viewed.