XRL/ALC Closes $9.6 MM Bridge Transaction for Florida Rural Hospital
In a notable stride toward enhancing healthcare in rural Florida, XRL ALC, LLC (XRA), in partnership with American Lending Center, has finalized a bridge loan amounting to $9.6 million for the expansion and renovation of Calhoun-Liberty Hospital in Blountstown, Florida. This collaboration underscores a shared commitment to nurturing the growth and accessibility of medical services in underserved areas.
The ambitiously planned $82 million project aims to substantially upgrade the hospital’s facilities, promising to serve the medical needs of residents across Calhoun, Liberty, Jackson, and Gulf Counties more effectively. The financing arrangement, characterized by a two-year, interest-only loan, is poised to precede the hospital’s access to approximately $30 million in approved grants earmarked for this significant undertaking. Presently, the hospital offers a range of essential services, including emergency care, inpatient facilities, laboratory tests, radiology, as well as respiratory therapy, supplemented by a rural health clinic.
Jordan Blanchard, Co-Founder of X-Caliber Rural Capital, expressed enthusiasm about the loan’s potential impact, highlighting the firm’s dedication to facilitating growth and development in micro-rural areas. These areas, often overlooked by traditional banking institutions, stand to gain from such targeted financial solutions, promoting job creation and economic expansion in the process.
American Lending Center, known for its impactful investments in rural settings, echoes this sentiment, underscoring the vital role of accessible, high-quality healthcare facilities in these communities. Scott Thompson, the center’s Vice President and Chief Lending Officer, pointed out the project’s alignment with their goal of fostering job creation through strategic investments.
The construction of the new 36,000 square-foot hospital facility is not just an infrastructure upgrade but a beacon of hope for nearly 200 construction jobs it is expected to create. Beyond the immediate employment opportunities, the project forecasts the creation of approximately 25 new full-time positions and 19 part-time roles, marking a significant increase from the current 157 staff members and reinforcing the hospital’s pivotal role in the community’s health and economic vitality.
With a completion timeline set for the fall of 2025, the renovated and expanded Calhoun-Liberty Hospital is poised to emerge as a cornerstone of comprehensive healthcare services for the region’s residents, underscoring a collective commitment to ensuring the sustained well-being and growth of rural communities in Florida.
About XRL-ALC, LLC:
XRL-ALC, LLC stands at the forefront of providing innovative capital solutions for projects situated in “micro-rural areas,” characterized by populations under 20,000 and located outside Metropolitan Statistical Areas. The firm supports a diverse range of projects, from hospitality to multifamily and public works projects, thereby catalyzing economic development in these communities.
About American Lending Center:
As a pioneering non-bank lending institution, the American Lending Center has distinguished itself as a leader in small business lending across the United States. With a track record of supporting over 80 Small Business Administration (SBA) 504 projects, ALC has contributed to creating over 12,000 new jobs, underlining its integral role in bolstering economic growth and resilience in communities nationwide.
