InnovatiVe Capital

Financing HOSPITALS. Dedicated to CLIENTS. Committed to COMMUNITIES
 
$20,000,000
USDA Direct Loan
Community Hospital Renovation
InnoVative Capital's Role:
Financial Consultant
DeSoto Memorial Hospital
Arcadia, FL
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Services
USDA Services
Develop
Structure
Finance
USDA Products
USDA Overview
#SECTION#
USDA Mortgage Lending
Procuring grants, USDA Direct Loans and Guarantees for clients.

InnoVative Capital USDA Development Services
(USDA Pre-Application and Application)

Due to federal funding constraints and state allocations, approved USDA Direct Loans may fall short of the projected capital needs of applicant hospitals.  With this in mind, InnoVative Capital works upfront with its clients to identify composite-funding sources to meet any budgeted shortfalls in its Sources and Uses Statement.  Composite-funding can take the form of grants, tax-support and nonprofit contributions.  The viability of a project financing requires the receipt of all funding sources prior to loan closing.  InnoVative Capital’s USDA Development Services establish the framework for the financing upfront to eliminate unnecessary expenditures and set achievable goals.

+ InnoVative Capital Development Highlights
Successfully lobbied in Washington D.C. for state grants to supplement a USDA Direct Loan and reduce a hospital’s required cash contribution.
Generated maximum debt capacity and project budget for hospital board approval and submission in USDA underwriting application.
Provided analytical suport for state certificate of need process and financing pre-commitment letter.
Negotiated relocation of an independently-owned medical clinic and physician practices to a new medical office building to be built on the campus of a new hospital funded with a USDA Direct Loan.

InnoVative Capital USDA Structuring Services
(USDA Underwriting and Construction Loan Underwriting)

A pre-requisite for any USDA Direct Loan is the receipt of a construction loan commitment to fund the construction of the applicant’s project. USDA provides permanent, long-term financing, but is not a construction lender. InnoVative Capital’s commercial banking experience is a valuable resource in soliciting and negotiating with prospective construction lenders. Relying on local, national and international banks, InnoVative Capital’s RFP process can offer its clients alternative construction loan options and save hospitals upfront fees and expenses. During the USDA underwriting, InnoVative Capital’s expertise in hospital financial operations and governance allows it to negotiate the most borrower-friendly covenants, security features and terms in the industry.

+InnoVative Capital Structuring Highlights
When project modifications increased costs, a supplemental USDA Direct Loan commitment of $5 million was obtained.
Directed mediation between hospital and municipal leadership in establishing the security structure and legal framework for USDA financing.
Assisted in the successful ballot initiative providing voter approval for a USDA financing.

InnoVative Capital USDA Financing Services
(Issuance of the USDA Commitment, Construction Loan Closing and USDA Take-Out)

Upon issuance of the USDA Direct Loan commitment, InnoVative Capital works to execute the construction loan closing.  In conjunction with the construction lender, on behalf of the hospital, InnoVative Capital oversees construction loan disbursements and monitors hospital and project team compliance with any covenants specified in the USDA commitment.  At the completion of the project, InnoVative Capital will supervise the cost certification process and manage the USDA Direct Loan closing and repayment of the construction loan.

+ InnoVative Capital Financing Highlights
Two hospital clients with individual USDA Direct Loan commitments in excess of $20 million.
Upfront cash requirements of hospital clients were eliminated by inclusion of pledged assets and composite-funding.
USDA commitments for urgently-needed projects to replace a hurricane damaged hospital and an isolated island hospital.

Develop, Structure
& Finance
We manage the entire process
Client Testimonial:
"Before we sought financing assistance from the USDA program to renovate our facility, which had been damaged by multiple hurricanes, we retained InnoVative Capital to provide its consulting services. With InnoVative Capitalís assistance, we determined the appropriate loan amount and successfully obtained affordable financing for our project."
Nancy Frisby | Former Vice Pres. & CFO
DeSoto Memorial Hospital
 
 
Related Topics
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USDA Term Sheets
InnoVative Capital
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OTHERS PROMISE. WE DELIVER.
$40,500,000
  FHA 223 a-7 Insured Ginnie Mae Loan
  FHA 242 Debt Refinancing
  Morehead Memorial Hospital
  Eden, NC
  InnoVative Capital's Role:
  FHA Mortgage Banker
  [ case study ]
 
  Joint Management & Lease Agreement
  Community Hospital Affiliation
  Emanuel Medical Center
  Swainsboro, GA
  InnoVative Capital's Role:
  Financial Advisor
  [ case study ]
$85,000,000
  FHA 242 Insured Ginnie Mae Loan
  Replacement Community Hospital
  Meadows Regional Medical Center
  Vidalia, GA
  InnoVative Capital's Role:
  FHA Mortgage Banker and Financial Advisor
  [ case study ]
$40,000,000
  FHA 242 Insured Ginnie Mae Loan
  Replacement Critical Access Hospital
  The Memorial Hospital
  Craig, CO
  InnoVative Capital's Role:
  FHA Mortgage Banker
  [ case study ]
$46,000,000
  FHA 242 Mortgage Insured
Tax-Exempt Bonds
  Replacement District Hospital
  Matagorda Regional Medical Center
  Bay City, TX
  InnoVative Capital's Role:
  FHA Mortgage Banker and Financial Advisor
  [ case study ]
$18,500,000
  FHA 242 Insured Ginnie Mae Loan
  Replacement Critical Access Hospital
  Shoshone Medical Center
  Kellogg, ID
  InnoVative Capital's Role:
  FHA Mortgage Banker
  [ case study ]
$6,500,000
  FHA 241 Insured Ginnie Mae Loan
  Skilled Nursing Facility Renovation
  Shorefront Geriatric Center
  Brooklyn, NY
  InnoVative Capital's Role:
  FHA Mortgage Banker
  [ case study ]
$29,000,000
  FHA 242 Insured Ginnie Mae Loan
  Replacement Critical Access Hospital
  North Valley Hospital
  Whitefish, MT
  InnoVative Capital's Role:
  FHA Mortgage Banker
  [ case study ]
$31,000,000
  FHA 242 Mortgage Insured
Ginnie Mae RZED Bonds
  Critical Access Hospital Modernization Project
  Effingham County Hospital Authority
  Springfield, GA
  InnoVative Capital's Role:
  FHA Mortgage Banker and Financial Advisor
  [ case study ]
$24,000,000
  Hospital Revenue Bonds
  Community Hospital
Renovation and Expansion
  Ohio Valley General Hospital
  McKees Rocks, PA
  InnoVative Capital's Role:
  Financial Advisor
  [ case study ]
$3,500,000
  FHA 232 Mortgage Insured
Tax-Exempt Bonds & Sub Debt
  New Assisted Living Facility
  Somerset at University Place
  Winston-Salem, NC
  InnoVative Capital's Role:
  FHA Mortgage Banker
  [ case study ]
$50,000,000
  Hospital Revenue Bonds
  Tertiary Care Facility
Renovation and Expansion
  Memorial Health University Medical Center
  Savannah, GA
  InnoVative Capital's Role:
  Financial Advisor
  [ case study ]
$6,860,000
  FHA 232 Insured Ginnie Mae Loan
  Skilled Nursing Home
Renovation and Refinancing
  Citrus Health and Rehabilitation Center
  Inverness, FL
  InnoVative Capital's Role:
  FHA Mortgage Banker
  [ case study ]
$19,200,000
  Hospital Revenue Bonds
  Community Hospital
Refinancing and Expansion
  Daviess County Hospital
  Washington, IN
  InnoVative Capital's Role:
  Financial Advisor
  [ case study ]
$33,000,000
  FHA 242 Insured Ginnie Mae Loan
  Start-Up For-Profit Hospital
  Summit Hospital
  Phenix City, AL
  InnoVative Capital's Role:
  FHA Mortgage Banker
  [ case study ]
$37,000,000
  FHA 242 Insured Ginnie Mae Loan
  Community Hospital
Debt Refinancing & Expansion
  Knox Community Hospital
  Mt. Vernon, OH
  InnoVative Capital's Role:
  FHA Mortgage Banker and Financial Advisor
  [ case study ]
$20,000,000
  USDA Direct Loan
  Community Hospital Renovation
  DeSoto Memorial Hospital
  Arcadia, FL
  InnoVative Capital's Role:
  Financial Consultant
  [ case study ]
$59,000,000
  Doctorsí Hospital
Non-Rated Hospital Revenue Bonds
  Start-Up Non-Profit Hospital
  Doctorsí Hospital
  Bridgeport, TX
  InnoVative Capital's Role:
  Financial Advisor
  [ case study ]
$7,675,000
  FHA 232 Insured Ginnie Mae Loan
  Start-Up Skilled Nursing Facility
  Stone Oak Care Center
  San Antonio, TX
  InnoVative Capital's Role:
  FHA Mortgage Banker
  [ case study ]
VIEW SAMPLE OF RECENT FINANCINGS
 
The Tax Support of Independent Community Hospitals
by Alan P. Richman
Healthcare Financial
Management Magazine
 
Increasingly, community hospitals are under pressure to survive. Independence and prosperity are not mutually exclusive for many community hospitals, as long as they receive a little revenue support for new facilities and additional physicians. Dedicated limited taxes can provide the lifeline hospitals need to preserve community healthcare and enhance the local economy.

READ FULL ARTICLE      

STAY CONNECTED... LinkedIN - Alan Richman InnoVative Capital on Facebook Follow Alan Richman & InnoVative Capital
For USDA Mortgage Lending Inquiries

corporate@innovativecapital.com
T: (610) 543-2490
F: (610) 543-2491

1489 Baltimore Pike
Building 400
Springfield, PA 19064

 
HUD-Licensed FHA Mortgage Lender and SEC/MSRB Registered Municipal Advisor
Invested in rural communities and hospitals
FHA Mortgage Banking | FHA Section 242 Mortgage Insurance Program | FHA 242 Loans | Rural Hospital Finance | Critical Access Hospital Finance
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InnoVative Capital is a HUD licensed FHA mortgage lender and SEC/MSRB-registered municipal advisor, specializing in the mortgage financing of rural hospitals, community hospitals and critical access hospitals using the FHA 242 Mortgage Insurance Program, tax-exempt and taxable bonds, bank debt, USDA Loans, and equity strategies. InnoVative Capital provides cost-effective and expedient access to the capital markets for hospitals, senior living, nonprofits and municipalities, as well as mergers and acquisitions representation and turnaround support.

InnoVative Capital 1489 Baltimore Pike, Building 400 | Springfield, Pennsylvania 19064 | Phone: 610-543-2490 | Fax: 610-543-2491

Copyright InnoVative Capital, LLC
 
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