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Crystal Financial Provides Growth Capital to People’s Care Holdings

May 01, 2018, 07:00 AM
Filed Under: Healthcare

Crystal Financial served as agent on a $15 million senior secured term loan for People’s Care Holdings, which provides care services for adults with intellectual and development disabilities in the state of California and Nevada.

Founded in 1998, the Company operates over 52 residential homes as well as 14 day community centers. Their mission is to provide quality care and support for their clients and their families.

Crystal’s facility refinanced existing debt and provided capital via an accordion term loan to fund the growth of new facilities.  Proceeds from the financing will be used to consolidate the company’s existng debt facilities, and to finance the expansion of the Company’s network of Group Residential Homes and Community Day Centers.   

“Our company is committed to providing our clients and their families with choice, community and dignity through our independent living options and employment service programs for adults with developmental disabilities.  The needs for this population are often unmet and therefore we have been fortunate to have experienced significant growth.  Identifying a lending partner who understands our mission and is supportive of our plans was critical.  Crystal Financial clearly demonstrated their commitment and we are confident in their ability to facilitate our growth,” said Michael Kaiser, Founder and CEO of Peoples Care.

Andrew Hettinger, Senior Managing Director of Crystal Financial said, “Michael and his team have built a terrific organization that delivers comprehensive programming and services to support an individual’s path to self-sufficiency.  We look forward to a mutually beneficial long term partnership.”    

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