Cross River Bank’s strategic direct lending team provided a $50 million credit facility to Cherry Technologies, a company that enables medical practices to offer flexible payment plans to their patients. Additionally, Cross River will originate loans for Cherry through its banking and technology platform, enabling Cherry to deliver access to credit for patients in the United States.

“We’re proud to support Cherry’s growth with our credit facility, and we’re excited to play a role in bringing a more modern and accessible financing experience to patients nationwide,” Rahul Jha, head of strategic direct lending at Cross River Bank, said.

“We are excited to be going shoulder to shoulder with Cross River and grateful to have them as our partner,” Felix Steinmeyer, CEO of Cherry, said. “Thanks to this partnership, we can offer medical practices an even stronger patient financing solution.”