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BofI Launches Healthcare Finance Unit

April 24, 2013, 08:03 AM
Filed Under: New Venture

BofI Holding, Inc., parent of BofI Federal Bank, today announced the addition of a HealthCare Finance specialization in its Commercial & Industrial Lending division.  BofI’s specialized healthcare lending platform focuses on providing financing solutions to lower and middle market healthcare providers with financing needs ranging from $1mm to $30mm.  BofI’s healthcare finance team offers a comprehensive suite of asset-backed financing as well as real estate, equipment and inventory financing to healthcare companies throughout the United States.

BofI’s healthcare financing efforts are led by James Irwin, Jr., the founder and President of MC Healthcare Finance and Meridian Healthcare Finance. “Significant changes are impacting the healthcare industry at a time when capital available to lower middle and middle market healthcare companies has become less widely available.  I am pleased to be part of a large, well-capitalized, national bank dedicated to serving the healthcare marketplace” said James Irwin about his new role as Senior Vice President and Head of HealthCare Finance at BofI Federal Bank. 

“We have formed a seasoned team of healthcare finance professionals who offer a suite of asset based lending solutions to the healthcare industry that we believe will meet with a strong reception in the marketplace.  We are dedicated to serving this market and are very pleased with the team that we have recruited” stated Greg Garrabrants, President and CEO of BofI Federal Bank.

BofI HealthCare Finance provides financing to all segments of the healthcare industry including hospitals, skilled nursing facilities, behavioral health, home health, pharmaceutical laboratories, senior housing, hospice, Long Term Acute Care facilities and others.  BofI HealthCare Finance is based in San Diego, California.

BofI Holding, Inc. is the holding company for BofI Federal Bank, a nationwide branchless bank that provides financing for single and multifamily residential properties, small-to-medium size businesses in target sectors, and selected specialty finance receivables. With over $2.8 billion in assets, BofI Federal Bank provides consumer and business banking products through its low-cost distribution channels and affinity partners.

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