Business Capital Secures Group Home Operator $5MM Financing
Business Capital has secured a $5 million credit facility for a company that operates a large network of group homes and day centers providing expert care to the elderly and developmentally disabled, including those with autism, Down’s Syndrome and Cerebral Palsy. The company has been named five times as one of the fastest growing private companies in the U.S. and has a stellar reputation in the communities it serves for maintaining the highest standards of care.
The company has expanded to serve the growing elderly population as well as an increasing number of residents displaced from state-run facilities. Growth has outpaced both smaller and larger competitors and in order to take full advantage of continuing market opportunities, the company needed a lending partner that could provide longer-term growth capital.
Business Capital secured both the revolving and term debt necessary to allow the company to complete 13 new residences and six day centers in 2014.
“It was not long ago when the only option for the developmentally disabled was to spend their lives in an institutional setting. This client and others like them continue to elevate the standards of care and quality of life for the disabled and elderly. As a longtime supporter of the Special Olympics, it was a privilege for Business Capital to deliver the growth capital needed to ensure these individuals receive the continuum of exceptional care to which they are entitled,” said Chuck Doyle, managing director of Business Capital.