December 23, 2016
WHEFA Bond Financing Helps Shady Lane, Inc. Expand in Manitowoc
Bond financing facilitated by WHEFA will be used to help Shady Lane finance the construction and equipping of an additional 36 assisted living units in two 18-unit neighborhoods on their existing campus in Manitowoc, Wisconsin. One of the new neighborhoods will also include memory care. This federally tax-exempt financing process has enabled the borrower to operate more effectively by financing its capital expenses at a lower interest rate (initially 2.84%).
WHEFA is proud to have been able to assist Shady Lane by reducing their overall debt service and allowing them to grow and compete by providing access to low cost private capital.