National Cooperative Bank Provides $3.8M Loan to Welbe Health PACE

(Arlington, VA.) – December 27, 2021 – National Cooperative Bank (NCB), a leading financial institution dedicated to serving cooperatives, their members, and socially responsible organizations nationwide, recently closed a $3.8 million line of credit to Welbe Health PACE, LLC to finance tenant improvements and operating costs for Sequoia PACE, LLC located in Fresno, CA.

Program of All-Inclusive Care for the Elderly (PACE) is considered a leading example of person-directed long-term care by advocates and Medicaid officials. It provides a dignified and home-based alternative to nursing home care for the most vulnerable and low-income members of a community.

Formed in 2018 to open a new PACE program, Sequoia PACE, LLC serves parts of Fresno, Kings, Madera, and Tulare counties. The mission of Sequoia PACE is to provide frail seniors, ages 55 or older, with quality care, compassion, and value.

Sequoia PACE is approximately 17,400 square feet and includes a day center, clinic, rehabilitation center, spa, kitchen, and office space. As of July 2021, the center has nearly 70 employees and serves over 140 participants In addition to on-site services, the center provides in-home services such as home care/home health, telehealth, and socialization through GrandPads, serving a daily census of 300 participants each in two shifts.

NCB has been a longtime supporter of PACE programs and providing capital to expand PACE centers across the United States.