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Centre Care closes $35.6 million loan

PHOTO PROVIDED
Pictured from left are Miles Kingston, vice president at Lancaster Pollard; Craig Muthler, senior vice president of First National Bank; Betsy Boyer, Centre Care board president; Larry Bickford Centre Care board member; Andrew Naugle, Centre Care administrator; and Todd Wagner vice president at Complete HealthCare Resources.

BELLEFONTE–The nonprofit Centre Care celebrated closing a $35.6 million loan on June 28 at First National Bank in State College for the county’s newest nursing facility, which is currently under construction on the Benner Pike.

The state-of-the-art health center will offer traditional long-term care, as well as three specialty neighborhoods that are in high demand for Centre County residents — a high acuity neighborhood for patients with complex medical conditions, a memory care neighborhood of which there are few in the area, and a short-term rehabilitation neighborhood.

The site will also have room to grow and expand services in the future.

Coordinated by Lancaster Pollard, the loan is a partnership between Centre Care, First National Bank and the USDA.

The loan will provide Centre Care with a low-cost, permanent financing structure, which will allow the nonprofit to continue its mission of caring for the residents of Centre County.

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