OptimumBank Holdings, Inc. (OPHC-NASDAQ) OptimumBank (the “Bank”) Announces OptimumBank Entry into Accounts Receivable Funding for Qualified Nursing Facilities
Fort Lauderdale, FL, December 06, 2021 (GLOBE NEWSWIRE) – After having achieved its best quarter in many years, with cumulative bank profits reaching $ 2,244,000 as of September 30, 2021, OptimumBank is delighted to announce its entry in the skilled nursing loan space. President Moishe Gubin is pleased to announce the approval of the Bank’s first senior healthcare facility loan as part of the Bank’s updated strategic plan to meet current and future financing needs. in the health care sector for the elderly.
As the owner of a portfolio of healthcare facilities and former CFO and Director of Infinity Healthcare Management, LLC, Chairman Gubin said: “As our senior population grows exponentially with longer lifespans, the demand for care increases along with the business opportunities available to long-term care operators.. I am above all happy that OptimumBank is now in positioned To to help support their current and future financing needs.
Michael Blisko, who was elected to the board of directors at the 2021 annual meeting of shareholders, possesses the professional capabilities with a proven record of skills and achievements in the senior healthcare industry. Mr. Blisko is the CEO of Infinity Healthcare Management of Illinois and Infinity Healthcare Management of Indiana, healthcare consulting firms that have agreements with facilities with more than 6,000 care beds. registered nurses in the following states: Illinois, Indiana and Tennessee.
In addition, Mr. Michael Johnson recently joined OptimumBank as a member of its loan team. Mr. Johnson is a seasoned lender and has extensive experience in commercial lending in the senior healthcare industry, in particular transactions associated with operating entity working capital lines, real estate entity acquisitions, refinancing and bridging loans to the HUD in conjunction with the establishment of cash management.
President Gubin said: “The addition of M. Blisko to our Badvice of Dprincipals and Mr. Johnson to our loan team will inevitably help To the development of new business relationships for the Bank and Topupils the ultimate accomplishment of Meet our strategic lending initiatives to the senior health care industry.“
Avi Zwelling, who has been a director of the company and of OptimumBank since December 2017, has performed legal work for numerous qualified nursing facilities. Mr. Zwelling is the Managing Partner of Zwelling Law, PLLC, which has offices in Boca Raton, Florida, and Chicago, Illinois. Mr. Zwelling has provided legal services to the Company and the Bank since 2012.
The bank plans to focus on the smaller lines of accounts receivable that the current space lenders are avoiding. “The Bank anticipates a lot of transactions from nursing home owners who have lower needs than desired by their current nursing home lenders,” said President Moishe Gubin.
About OptimumBank Holdings, Inc.
OptimumBank Holdings, Inc. operates as a banking holding company for OptimumBank which provides a range of banking services to individuals and businesses. The company accepts interest-bearing and non-interest-bearing demand accounts, savings, money market, NOW and term accounts, as well as certificates of deposit; and offers residential and commercial real estate loans, commercial and consumer loans, as well as loan lines for working capital requirements. It also provides debit cards and ATMs; investment, cash management, notary and overnight depositary services; and direct deposits, money orders, cashier’s checks, domestic cash receipts, automated teller machines and postal banking, as well as Internet banking services. In addition, the company undertakes to own, manage and dispose of foreclosed real estate. It operates through bank offices located in Broward County, Florida. OptimumBank Holdings, Inc. was founded in 2000 and is headquartered in Fort Lauderdale, Florida.
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OptimumBank Holdings. Inc.