Oak Ridge, N.J. – Nov. 16, 2020 – Lakeland Bank was pleased to provide a $2,750,000 asset based line of credit to a Home Health Care agency based in Suffern, New York.
“With the challenges the healthcare system has faced this year, we understand that our clients need greater access to capital,” said Roberto Camacho, Vice President, Healthcare Banking. “We remain committed to providing our expertise and assisting our clients through this difficult time.”
“These funds have given the organization the flexibility to take on new personnel in new markets while new payer contracts take effect and instantly become a competitor across all 62 counties in New York State,” said Roberto Camacho, Vice President, Healthcare Banking, “The principals had the right managerial experience and immediately established themselves a niche market share across New York.”
Lakeland Bank’s Healthcare Banking experts are here to help by providing 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 our experts to provide value in many different verticals to various businesses. We provide financial solutions to nonprofit organizations, hospitals and higher education, senior living facilities, private equity groups, medical office building buyers and real estate investment trusts, large medical practices, behavioral health and ambulatory/outpatient facilities.
About Lakeland Bank
Lakeland Bank is the wholly-owned subsidiary of Lakeland Bancorp, Inc. (NASDAQ:LBAI), which has over $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 a 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.