Arlington, VA (August 20, 2024) – National Cooperative Bank (NCB), a leading financial institution dedicated to providing banking solutions to cooperatives and socially responsible institutions nationwide recently closed a $8,480,000 nonrevolving line of credit to PACE4DC, the first and only Program for All Inclusive Care for the Elderly (PACE) facility in the District of Columbia. PACE4DC is located in Ward 8 and will serve residents in that area.
NCB loan will fund working capital and capital expenditures for the new PACE center.
PACE (Program for All-Inclusive Care for the Elderly) is considered a leading example of person directed long term care by Medicaid. It provides a dignified and home-based alternative to nursing home care for the most vulnerable and low-income members of a community. PACE4DC is a joint venture between Edenbridge Health, Inc. and Element Care, Inc.
