FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Greater Commercial Lending Completes $80MM in Financing for Lane Regional Medical Center

January 23, 2023, 07:39 AM
Filed Under: Real Estate

Greater Commercial Lending (GCL), which provides government-guaranteed loans to businesses and organizations in rural communities, completed $80 million in financing for Lane Regional Medical Center in Zachary, Louisiana.

The loan package, guaranteed by the U.S. Department of Agriculture (USDA), will go towards renovating and expanding the existing hospital facility.

The project includes construction of an 82,000-square-foot four-story tower, which will comprise a new patient nursing unit, a surgery unit with a central sterile services department, an ICU waiting room and administrative and general support space. The renovation will provide expanded admitting and lobby space, as well as improvements to the outpatient surgery unit, surgery support space, radiology, pre-admit testing, post anesthesia care unit and special procedures.

"GCL is committed to helping organizations in rural areas gain access to financing at favorable terms that might otherwise be unavailable or difficult to obtain," said Jeremy Gilpin, executive vice president of GCL, one of the largest originators of USDA loans. "Rural healthcare systems like Lane are vitally important and this project will enable them to extend and enhance the critical care they provide."

"We are excited about the future of Lane and what this expansion means to all we serve," says Lane CEO Larry Meese. "Upon completion in 2026, our newly modernized facility will expand Lane's ability to provide patient-centered care as well as enhance our mission to provide exceptional healthcare services to every patient, every time."

The facility is expected to be completed in 2026 and will bring more than 520 jobs to the community.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.