Secured Research | Equipment Finance Originator | Monitor | Monitor Suite | Converge | STRIPES Leadership
No Result
View All Result
ABF Journal
Forward for Specialty Finance
SUBSCRIBE
Lender & Services Directory
  • News
    • People
    • Economy
    • All News
  • Deals
  • Magazine
    • Magazine Issues
    • Nominations
  • Features
    • ABF Journal Pulse
    • Resolving MCA Distress
  • Recruiting
  • Events
  • Advertise
  • Contact Us
  • News
    • People
    • Economy
    • All News
  • Deals
  • Magazine
    • Magazine Issues
    • Nominations
  • Features
    • ABF Journal Pulse
    • Resolving MCA Distress
  • Recruiting
  • Events
  • Advertise
  • Contact Us
No Result
View All Result
ABF Journal
No Result
View All Result
Home Deal Announcements

Citizens Bank Leads $50MM CareCloud Credit Facility

Citizens Bank acted as lead arranger and administrative agent on the $50 million credit facility. Provident Bank participated in the financing.

byBrianna Wilson
April 14, 2026
in Deal Announcements, News

CareCloud, a provider of AI-driven healthcare technology and revenue cycle management solutions, closed a $50 million credit facility on April 13, 2026, with Citizens Bank and Provident Bank, a subsidiary of Provident Financial Services. Citizens acted as lead arranger and administrative agent on the $50 million credit facility. Provident Bank participated in the financing.

The company will also, on May 15, 2026, redeem 100% of its outstanding 8.75% Series B Cumulative Redeemable Perpetual Preferred Stock (CCLDO), following the requisite 30-day notice period. The redemption is expected to eliminate approximately $3.2 million in annual preferred dividend obligations and replace higher-cost preferred equity with lower-cost institutional debt, improving the company’s capital structure and enhancing long-term financial flexibility.

The facility provides non-dilutive capital, enhances liquidity and financial flexibility, lowers the cost of capital and reinforces operational resilience.

“This transaction represents a transformative step for CareCloud,” Stephen Snyder, CEO of CareCloud, said. “With the full redemption of the Series B Preferred Stock, we are simplifying our capital structure and positioning the company for its next phase of growth. We believe this strengthens our financial profile and enhances our ability to attract a broader base of institutional investors.”

In connection with the transaction, Matthew Rickert, market executive, and Alan Tekerlek, managing director, of Citizens, said, “We are pleased to have partnered closely with the Company to optimize its capital structure and strategically position CareCloud for sustained growth and enhanced profitability.”

The company intends to leverage its strengthened balance sheet and improved financial flexibility to further expand its AI-enabled product offerings, drive organic growth across its core revenue cycle management platform and pursue strategic initiatives to increase scale and operating leverage.

 

Previous Post

Horizon Technology Finance Closes Merger with Monroe Capital

Next Post

JPalmer Collective Locks In $135MM Syndicated Financing to Power Next Phase of Growth

Related Posts

Deal Announcements

The Ensign Group Increases Credit Facility to $800MM and Extends Maturity

August 23, 2026
News

Suja Life Amends and Restates Credit Agreement with JPMorgan Chase Bank

August 23, 2026
News

GrayRobinson Expands Bankruptcy Practice with Addition of Five Seasoned Attorneys

August 23, 2026
News

Kestra Financial Appoints Apple as Next Head of Wealth Management

August 23, 2026
Wingspire Capital Provides Over $500MM in Corporate Finance Commitments in H1/25
News

Pauley and Taylor Join Law Firm Babst Calland

August 23, 2026
Wingspire Capital Provides Over $500MM in Corporate Finance Commitments in H1/25
News

Squire Patton Boggs Adds Lashko as Partner & National Co-Chair, Creditors’ Committee

August 23, 2026
Next Post
JPalmer Collective Locks In $135MM Syndicated Financing to Power Next Phase of Growth

JPalmer Collective Locks In $135MM Syndicated Financing to Power Next Phase of Growth

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

TMA Leading Edge Series with Michael Petrecca – Merchant Cash Advances: An Engine of Distress

TMA Leading Edge Series with Michael Petrecca – Merchant Cash Advances: An Engine of Distress

July 31, 2026

Stopping MCA Withdrawals: Why an “MCA Attorney” May Not Be the First Call

August 14, 2026

Banks and Private Credit Managers Are Building an Origination Infrastructure That Neither Could Construct Alone

August 6, 2026

The MCA ‘Restructuring’ Problem: What’s in a Word?

July 24, 2026

About Us

For over 50 years, RAM Holdings’ brands have led the commercial finance industry in publishing, talent development, research and events. ABF Journal’s audience is comprised of as many as 18,000 specialty finance industry executives, private equity investors, investment bankers, advisors, service providers and more.

Our Brands

  • Secured Research
  • Equipment Finance Originator
  • Monitor
  • Monitor Suite
  • Converge
  • STRIPES Leadership

 

Learn More

  • Advertise
  • Magazine
  • Contact Us

Newsletter

Driving specialty finance forward for decades with insights, recognition and deals. Sign up now.

SUBSCRIBE >>

© 2025 RAM Group Holdings - A Leading Commercial Finance Publishing Group For Over 50 Years

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News
    • People
    • Economy
    • All News
  • Deals
  • Features
    • ABF Journal Pulse
    • Resolving MCA Distress
  • Magazine
    • Magazine Issues
    • Nominations
  • Events
  • Advertise
  • Contact Us
Provider Directory >>

© 2025 RAM Group Holdings - A Leading Commercial Finance Publishing Group For Over 50 Years