Home Tags Financing
The Danbury firm's stock is still under Nasdaq scrutiny; it has until May 28 to return to the $1 threshold.
“Anecdotally, I still hear complaints from small businesses that they still have trouble accessing capital,” said CBIA President Joe Brennan.
Todd Rowe says that many would-be borrowers approach lenders with too much optimism in their ability to score financing, with dismal results.
HJ Sims added that it worked with IRC's bank to modify its outstanding bank bonds and integrate these bonds into the new financing structure, which is expected to save IRC approximately $6 million of long-term debt.
The financing will be used to construct three buildings covering 152,000 square feet that will house 86 assisted living units and 44 memory care units.