CALIFORNIA CLOSING ANNOUNCEMENT

• $4,550,000 SBA 7a Loan
• Assisted Living
• Refi & Expansion
• California
• February 2022

February 28^th, 2022 – Monarch Advisors is pleased to announce the closing of a new loan to refinance a 12-bed assisted living facility in Salinas, California and provide funding for a 28-bed expansion.  The locally based owner-operator engaged Monarch to source approximately $4.6 million in senior debt for the transaction.  Monarch arranged a commitment from a national SBA lender for 25 years at Prime plus 1.0% with an option to convert to a fixed rate equal to Prime 1.20% upon completion of construction.

Upon closing the transaction, the client, Songbird Care Homes­­­­, offered the following statement, “Monarch Advisors was recommended to us by a fellow operator in our industry.  We are glad that we took the advice!  Alec didn’t just find us lenders; he assembled a multi-stage lending strategy to help us meet our financing and expansion goals.  He kept us on target as we navigated multiple options, always with an eye towards what would best meet our needs.  The end result was a banking relationship and financing package that we are truly excited about.  We are looking forward to working with Monarch in our coming stages of business development.”