CNH Finance closed more than $40 million in committed facilities in Q3/21, including a $10 million line of credit and a $2.5 million term loan to a hospital, an $18 million accounts receivable revolving line of credit to a skilled nursing facility and a $10 million accounts receivable revolving line of credit to a specialty pharmacy cost containment company.
These results continue a trend of strong portfolio performance during 2021 for the company, which reported that it has achieved growth in net funds employed to beyond pre-COVID-19-pandemic levels. CNH will try to build on the momentum in the fourth quarter and beyond with a pipeline of opportunities presenting themselves across healthcare and affiliated sectors.
According to CNH, the implementation of the company’s end-to-end, proprietary, technology-enabled sales, underwriting and loan servicing platform has enabled its growth by improving workflow, decision making and servicing efficiencies. CNH said it will continue to invest in the development of the platform with artificial intelligence, robotic processing and real-time risk monitoring tools that will provide immediate feedback to its portfolio management team and enhance its borrower experience.
