Crystal Financial closed a $15 million senior term loan for People’s Care Holdings.
People’s Care provides care services for adults with intellectual and development disabilities in the state of California and Nevada. Founded in 1998, the company operates more than 52 residential homes as well as 14 community centers with daily programming.
Proceeds from the financing will be used to consolidate the company’s existing debt facilities and to finance the expansion of the company’s network of group residential homes and community day centers.
“Our company is committed to providing our clients and their families with choice, community and dignity through our independent living options and employment service programs for adults with developmental disabilities. Identifying a lending partner who understands our mission and is supportive of our plans was critical. Crystal Financial clearly demonstrated their commitment and we are confident in their ability to facilitate our growth,” said Michael Kaiser, founder and CEO of People’s Care.
Andrew Hettinger, senior managing director of Crystal Financial, said, “Michael and his team have built a terrific organization that delivers comprehensive programming and services to support an individual’s path to self-sufficiency. We look forward to a mutually beneficial long term partnership.”
