Nashville Senior Care DIP financing extended through Jan. 29

By Sarah Lizee

Olympia, Wash., Jan. 17 – Nashville Senior Care, LLC received approval to extend its $5.35 million debtor-in-possession facility via UMB Bank, NA through Jan. 29 from Jan. 15, according to a notice filed Tuesday with the U.S. Bankruptcy Court for Middle District of Tennessee.

The facility includes a $1.35 million bridge loan advanced to the company prior to the petition date by UMB, as previously reported.

UMB holds a valid first-priority lien and security interest in substantially all of the debtors’ real and personal property, the debtor said.

The financing bears interest at 12% per annum. The default rate would rise to 14%.

The Hermitage, Tenn.-based senior care company filed bankruptcy on Aug. 14 under Chapter 11 case number 23-02924.

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