Alleon Healthcare provided a $5 million accounts receivable line of credit to a Texas-based skilled nursing facility.
The company operates four skilled nursing facilities in Texas and is focused on patients who needs healthcare services after a hospital stay.
In 2018 due to financial hardships and unforeseen events the company was forced to file for Chapter 11 bankruptcy. Alleon helped the company restructure by paying off its current lender using an asset based line of credit. The line is comprised of medical receivables due from government and commercial health insurance payors with an advance rate up to 85% on eligible receivables.
“We are extremely proud to have helped our client restructure its company and come out of bankruptcy. They are a vital piece of the community and do great work in assisting thousands of people yearly.” said Ben Malyar, vice president of Business Development at Alleon.
