Daily News: October 22, 2012

Doral Healthcare Finance Provides $7MM to LA Management

Doral Healthcare Finance said it has provided a three-year $7 million revolving line of credit to a chain of HUD and non-HUD nursing homes managed by LA Management. Proceeds from the transaction will be used for working capital and to refinance existing debt at a lower cost. LA Management is a nursing home management company, located in Clearwater, FL.

“We are glad to be able to help LA Management improve their financial position to facilitate their plans and look forward to a long-term relationship with them,” said Jennifer Sheasgreen, DHF managing director.

“Doral was able to efficiently work through HUD’s requirements and close on both our HUD and Non-HUD lines expeditiously,” said Jordan Atkins, owner of LA Management. “We look forward to growing our relationship with DHF as we expand into new territories.”