Our Healthcare Lending group works with borrowers throughout North America to provide asset-based accounts receivable financing. In addition, we provide bridge-to-HUD real estate term loans. We provide loans to support:
- Acquisitions
- Growth
- Working capital
- Recapitalizations
Congressional Bank directly originates loans to healthcare businesses. We also participate in financings to borrowers that are agented by other banks and finance companies that have healthcare industry expertise.
We provide custom solutions to our clients in a timely and creative manner. All financings are first lien, senior secured by the relevant assets.
Summary of General Revolving Loan Characteristics
| GENERAL REVOLVING LOAN CHARACTERISTICS | |
|---|---|
| Business Types | Companies in all segments of the healthcare industry |
| Eligible Borrowers | For profit and not-for-profit entities |
| Loan Amount | Up to $24 million commitment size |
| Location | Nationwide |
| Term | Up to 5 years |
| General Loan Terms | Up to 85% advance rate on eligible receivables and up to 50% on eligible inventory Eligible receivables include Medicare, Medicaid, commercial insurance, and institutional accounts receivable Advances on receivables aged up to 150 days |
| Interest Rate | Floating over LIBOR |
| Typical Recourse | Limited |
| Other | Ability to borrow from and repay the balance repeatedly over the term of the loan Flexible terms available |
Summary of General Bridge-to-HUD Loan Characteristics
| GENERAL BRIDGE-TO-HUD LOAN CHARACTERISTICS | |
|---|---|
| Property Types | Skilled Nursing (Skilled and Intermediate Care), Assisted Living and Board & Care Facilities |
| Eligible Borrowers | For profit and not-for-profit entities |
| Loan Amount | Up to $24 million commitment size |
| Location | Nationwide |
| Term & Amortization | Up to 5 years; Interest only and amortizing loans available |
| General Loan Terms | Underwritten to HUD’s specifications and take out requirements |
| Interest Rate | Floating over LIBOR |
| Typical Recourse | Limited |
| Other | Flexible terms available |
Contact
Amy Heller
President of Healthcare Lending Division
301-744-9380
aheller@congressionalbank.com