SLR Healthcare ABL announced that it secured financing for a 160-bed skilled nursing facility. The asset-based revolving line of credit amounted to $4.0 million, and this was the only debt for the borrower, which leases the facility from a related property company that has a mortgage with a bank.
The borrower is a Nevada-based operator of skilled nursing, post-operative care and specialized programs including orthopedic rehab, ventilator care and wound management. Proceeds of the loan were used to refinance existing debt and provide working capital to support growth initiatives such as continuing to leverage the facility’s strong respiratory and other specialty programs as differentiators in the marketplace.
