Bridge Opportunity Finance Provides $7.5 Million Facility to Aliquippa Community Hospital.CHICAGO -- Bridge Healthcare Finance today announced the completion of a $3 million revolver revolver: see small arms. revolver Pistol with a revolving cylinder that provides multishot action. Some early versions, known as pepperboxes, had several barrels, but as early as the 17th century pistols were being made with a revolving chamber to and $4.5 million secured term loan to Aliquippa Community Hospital, a community healthcare provider located near Pittsburgh, Pennsylvania “Pittsburgh” redirects here. For the region, see Pittsburgh Metropolitan Area. Pittsburgh (pronounced IPA: /ˈpɪtsbɚg/) is the second largest city in the Commonwealth of Pennsylvania. . Aliquippa Community Hospital is an acute-care; not-for-profit community healthcare provider located just North of Pittsburgh, Pennsylvania. This facility will provide the hospital with working capital and will allow it to exit Chapter 11 bankruptcy. Aliquippa filed voluntary bankruptcy voluntary bankruptcy n. the filing for bankruptcy by a debtor who believes he/she/it cannot pay bills and has more debts than assets. Voluntary bankruptcy differs from "involuntary bankruptcy" filed by creditors owed money to bring the debtor before the bankruptcy in 2002 due to poor management and underutilization of resources. In October 2003, the Board of Directors of Aliquippa named a new CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Tony Puorro. Under Mr. Puorro's leadership, Aliquippa has pursued significant changes leading to significant fiscal improvements. Tony Puorro, chief executive officer of Aliquippa said, "With the help of Bridge Healthcare Finance, we can continue to focus on improving our bottom line while exploring opportunities to provide other patient services to increase capacity. Bridge was able to help us capture this opportunity by committing a facility in a matter of days." "This facility allows us to demonstrate our working knowledge of bankruptcy financing Bankruptcy Financing Financing arranged by a company while under the chapter 11 bankruptcy process. Clearly, such financing is extremely high risk and is done at a relatively high interest rate. and help Aliquippa focus on rebuilding," says Randy Abrahams, President and CEO of Bridge Healthcare Finance. "It also demonstrates our ability to move on a transaction in a number of days allowing the company to create an opportunity that may not have otherwise come to fruition." About Bridge Healthcare Finance Bridge Healthcare Finance offers a combination of comprehensive loan products, decades of financial expertise and an unparalleled service approach unique to the healthcare lending industry. Through accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying , cash flow and real estate based term loan lending products, Bridge is able to address the differing capital needs of the healthcare industry. Bridge is based in Chicago, Illinois with an office in Hartford, Connecticut “Hartford” redirects here. For other uses, see Hartford (disambiguation). Hartford is the capital of the State of Connecticut. It is located in Hartford County on the Connecticut River, north of the center of the state. . Loan amounts start at $500,000 - for more information visit Bridge Healthcare Finance at www.bridgehcf.com. |
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