Overton County Commissioners met in regular session last night and was informed that Overton County Health and Rehab (OCHR) has recently been fully forgiven in the Paycheck Protection Program (PPP) loan.
Commissioner and chairman of the Nursing Home Board brought the update at the end of the of the County Commissioners meeting last night.
“They sent us a letter back last month and it has all been forgiven,” Savage stated. “We will not have to pay it back.”
As previously reported in the Livingston Enterprise, OCHR received just over $637,000 in relief funding through the CARES Act PPP loan to aid in May 2020 and the county approved the borrowing of the money.
The loan being forgiven in full means that the facility used the funds as they as they were supposed—with at least 75% contributing to payroll.
For more on this story, pickup a copy of this week’s Livingston Enterprise on newsstands now.