weather icon Mostly Cloudy

Joint venture aims to bring capital to rural health care

Stroudwater Associates, the nation’s leading source of strategic, operational, and financial strategy for rural, community and county-district owned hospitals, announced a joint venture with Greater Commercial Lending, a wholly-owned subsidiary of Greater Nevada Credit Union, to help rural health care businesses access USDA guaranteed loans.

The new partnership will be known as StroudwaterGCL Rural Healthcare Capital.

The joint venture combines Stroudwater Associates’ expertise in rural health care planning, financial improvement and strategy with Greater Commercial Lending’s expertise in USDA health care lending.

“Every day we fight alongside rural hospitals to help them identify opportunities to provide the best care for their communities, but access to affordable capital often stalls those high-impact projects,” Stroudwater Associates Board Chair Eric Shell said. “Previously, lenders avoided lending to rural health care because of perceived risk. With GCL as a partner, we can now help clients access capital with very attractive terms and diversify risk by bringing bonding capacity at a fraction of the cost to the community.”

Historically, rural hospitals and health systems had a hard time accessing capital at a fast and affordable rate. This new partnership will provide improved access to low-cost, credit-enhanced capital for funding high-impact rural health investment in new replacement facilities and renovations and expansions. Additionally, rural hospitals will have the option of refinancing existing debt to create savings and enable reinvestment of capital expense into operations.

“Stroudwater understands the impact we can make in rural communities by bringing Wall Street buying power to Main Street health care,” GCL Executive Vice President Jeremy Gilpin said. “Their mission has always been to level the playing field with strategy and operational expertise. Our partnership now brings the nation’s leading USDA lender and its capabilities to the table, leveling the playing field for accessing capital for rural hospitals and health systems.”

“Our vision is to reinvent rural health care,” Shell said. “The ability to invest in needed infrastructure with innovative and efficient facilities and reinvigorate these rural health systems with long-term investments will improve the health of the communities they serve.”

Don't miss the big stories. Like us on Facebook.
Goodwill receives largest donation in its history

Goodwill of Southern Nevada is proud to announce a significant and historic donation from MacKenzie Scott to Goodwill Industries International, as well as to 46 out of 156 independent territories, totaling approximately $500 million.

NCSO: Missing man died in California hospital

A Pahrump man that went missing at the end of December died in a California hospital just after Christmas, according to a release from the Nye County Sheriff’s Office.

RICHARD STEPHENS: Thoughts on Martin Luther King, Jr. Day

The celebration of Martin Luther King, Jr. Day calls up a wide range of memories for me, having lived through and seen many changes in our country and society as a result of the civil rights movement that Dr. King led and championed.

Let’s celebrate National Peanut Butter Day!

This Sunday is National Peanut Butter Day in the United States. Yes, there is a day devoted to this most humble of good-for-you foods.

Pfizer Oncology advocate to discuss “Living with Cancer”

Us TOO International is readying for a special Zoom conference meeting that will educate attendees on a health and wellness program entitled “This is Living with Cancer”.

Pahrump Valley Days celebration canceled

It was to be the first major, large-scale public event since the COVID-19 pandemic set in but with the virus continuing to rage across the nation, including right here in Nye County, the inaugural Pahrump Valley Days festival has been officially canceled.

Pahrump Soroptimist Mardi Gras event canceled

Like most, if not all organizations in town and beyond, the Soroptimist International of Pahrump Valley were forced to either cancel, suspend, or modify their regular activities due to the COVID-19 outbreak.