The Memorial Hospital at Craig could save around $100,000 a month if they are successful in refinancing a loan they have through the United States Department of Housing and Urban Development. TMH is currently working on a $37.6 million refinance loan with the United States Department of Agriculture. The effective interest rate on the new loan should be between 3 and 4%, but this won’t be known until the loan is secured. They are currently paying an 8% interest rate on the loan they have through HUD. The refinance will also give the hospital more cash on hand as they will need less money in reserves to comply with the USDA loan as compared to the reserves required by HUD. The additional funds will give TMH the opportunity to make capital improvements and renovations to the hospital in the future.