Oak Ridge, N.J. – July 13, 2021 – Lakeland Bank was pleased to provide the funding to refinance a 10,000 square foot Multi-Specialty Ambulatory Surgery Center (ASC) in Bergen County, New Jersey. The center provides services for patients from Bergen, Passaic, Morris, and Union Counties.
“COVID-19 was very challenging for ASCs across the Northeast as administrators and surgeons were constantly responding to operational and regulatory changes made at different local, state, and federal levels on almost a daily basis,” said Ron Krauskopf, Senior Vice President of Healthcare Lending. “Having a strong foundation of a reputable physician roster and deeply rooted referral sources was key to many centers avoiding acquisition pressure and unclogging the backlog of cases through the fall and winter. We were thrilled to work with this ASC group to help improve cash flow as they worked their way through the backlog and are now nearly at their pre-pandemic levels.”
Lakeland Bank’s Healthcare Banking experts are here to help by delivering customized solutions for unique challenges within the healthcare industry. Lakeland Bank’s Healthcare Banking offers comprehensive lending and treasury management solutions to organizations across the healthcare spectrum. Our experienced lenders utilize a relationship banking approach, allowing them to provide value in many different verticals to various businesses. We provide financial solutions to nonprofit organizations, hospitals, higher education, senior living facilities, private equity groups, medical office building buyers, real estate investment trusts, large medical practices, behavioral health and ambulatory/outpatient facilities.
Senior Vice President, Healthcare Lending
Vice President, Healthcare Lending
About Lakeland Bank
Lakeland Bank is the wholly-owned subsidiary of Lakeland Bancorp, Inc. (NASDAQ:LBAI), which has over $7.7 billion in total assets. With an extensive branch network and commercial lending centers throughout New Jersey and Highland Mills, N.Y., the Bank offers business and retail banking products and services. Business services include commercial loans and lines of credit, commercial real estate loans, loans for healthcare services, asset-based lending, equipment financing, small business loans and lines, and cash management services. Consumer services include online and mobile banking, home equity loans and lines, mortgage options and wealth management solutions. Lakeland is proud to be recognized as New Jersey’s #1 Best-In-State Bank by Forbes and Statista, rated a 5-Star Bank by Bauer Financial and named one of New Jersey’s 50 Fastest Growing Companies by NJBIZ. Visit LakelandBank.com for more information.