Kern Medical Center Awards Financial Services Contract to Afco Direct Capital Finance (June 2026)

The Board authorized the CEO to execute a premium finance agreement and promissory note 090-2026 with AFCO Direct Capital Finance to finance selected insurance premiums tied to the hospital’s July 1, 2026 insurance renewal. The financing supports coverage lines totaling up to $2,492,680 in premiums.

Scope & details

The full contract record, as filed.

Contract amount

Not to exceed $2,492,680 (premium financing related)

Contract type

FINANCIAL_SERVICES

Contract term

Effective July 1, 2026 (term not specified)

Renewal

Premium finance agreement for current insurance term; renewal or refinancing will require future Board authorization.

Document type

Minutes

Source document

Kern County Hospital Authority Board of Governors Minutes 2026-06-17

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Kern County Hospital Authority Board of Governors Agenda 2026-07-15

APPROVED

Kern Medical Center, CaliforniaPart of total insurance premiums up to $2,492,680 (finance amount not broken out)Jul 15, 2026

Kern County Hospital Authority Board of Governors Agenda 2026-06-17

APPROVED

Kern Medical Center, CaliforniaFinance charge up to $48,000 (5.96% on $1,847,476.99 amount financed; total of payments $1,889,284)Jun 17, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Kern Medical Center?

Afco Direct Capital Finance was awarded this financial services contract by Kern Medical Center, as recorded on June 17, 2026. The contract value is Not to exceed $2,492,680 (premium financing related).

How much is the Afco Direct Capital Finance contract with Kern Medical Center worth?

The Afco Direct Capital Finance contract with Kern Medical Center is valued at Not to exceed $2,492,680 (premium financing related), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in Kern County Hospital Authority Board of Governors Minutes 2026-06-17 (Minutes), dated June 17, 2026 from Kern Medical Center. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Afco Direct Capital Finance hold?

Afco Direct Capital Finance may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Afco Direct Capital Finance's profile

What is Kern Medical Center currently buying?

Explore Kern Medical Center's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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