OB-GYN Associates of Iowa seeks $1.6 million DIP financing

By Sarah Lizee

Olympia, Wash., Nov. 14 – Obstetric and Gynecologic Associates of Iowa City is seeking approval of an up to $1.6 million debtor-in-possession secured term loan facility, according to documents filed with the U.S. Bankruptcy Court for the Southern District of Iowa.

The loan will bear interest at 4.5% and is set to mature in one year.

MMIC Insurance, Inc. is the lender.

The obstetric and gynecologic clinic is based in Coralville, Iowa. It filed bankruptcy on Oct. 31 under Chapter 11 case number 22-01174.

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