CARTERSVILLE, Ga. — Live Oak Bank has provided $9.5 million in financing for a new assisted living community in the northwestern Atlanta suburb of Cartersville.
The transaction will fund the construction of the 60-unit, 57,000-square-foot, two-story community. The borrower is a local owner-operator that is developing the community.
The financing is structured as a $5 million small-business loan and a balance sheet loan, both funded by Live Oak. Both feature a floating rate and are fully amortizing over the 25-year terms.