Rural Missouri Hospital Under Construction Thanks To American Lending Center Financing
May 01 2024 - 2:03PM
Business Wire
A hospital in rural Missouri broke ground on April 4, 2024,
thanks in part to American Lending Center and its emphasis on rural
healthcare.
Harrison County Community Hospital District in Bethany, Mo.,
launched the $75 million, two-year construction project this week.
It will replace a 1955 hospital that doesn’t meet current code
requirements and has infrastructure so old it cannot be further
upgraded.
“We are thrilled to be making this announcement, as this
facility would be the start of a new chapter for both our hospital
and the community,” Tina Gillespie, CEO of the Harrison County
Community Hospital District, said on the hospital’s website. “HCCH
remains committed to our mission of providing exceptional care to
every patient, every day. With this announcement, we are furthering
that commitment by sharing our plans to improve access to quality
care for our patients and the people of Bethany.”
Bethany is a small town between Kansas City, Mo., and Des
Moines, Iowa, in a rural setting. It is the Harrison County
seat.
The current hospital has fewer than 20 total beds, without room
for expansion. Plans for the new hospital include 83,493 square
feet with 14 surgical medical beds, an Emergency Department with
six more rooms, and a behavioral health exam room. The site also
will accommodate outpatient services and future expansion.
This hospital project qualifies for the federal EB-5 program by
creating jobs – 453 construction jobs in this case -- in a rural
area. ALC provides access to this source of capital through its
regional centers – in this case the ALC Great Plains LLC. ALC is
providing $10.4 million to complete the hospital’s construction
loan.
“Bringing well-paying jobs to rural areas like this is the
underlying goal of the EB-5 program,” said Scott Thompson, Vice
President and Chief Lending Officer at ALC. “And the resulting new
hospital will improve many lives for a long time to come. That’s a
win-win.”
Construction is expected to take two years, with the new
hospital opening in mid-2026.
For more information about ALC programs, email
info2@americanlendingcenter.com.
About American Lending Center: A Financial Times (FT)
Americas’ Fastest Growing Company
American Lending Center (ALC) is a private nonbank lending
institution and nationally recognized leader in small business
lending. By the end of 2022, ALC has fully financed senior loan
products to 83 qualified EB-5 projects in 19 states, contributing
to a combined construction and business expansion budget of over
1.2 billion dollars. ALC’s lending practice has successfully
created more than 13,000 new jobs nationwide since 2009. In 2022,
ALC launched its new rural construction and development fund with
capital available for construction of fixed assets of all types in
rural areas including manufacturing, energy, infrastructure,
hospitality, specialty use, multi-use and other project types.
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Scott Thompson American Lending Center (562) 449-0139
scott.thompson@americanlendingcenter.com