Methodist Family Health is an Arkansas non-profit offering inpatient psychiatric hospitalization for children ages 3 to 17; outpatient counseling clinics; grief counseling services; psychiatric residential treatment centers; therapeutic group homes; school-based counseling services; therapeutic day treatment programs for Kindergarten through 12th grades; a youth emergency shelter; and Arkansas Centers for Addictions Research, Education and Services for mothers struggling with both substance abuse and a mental health issue. As the organization grew over the years the need for a new headquarters building and hospital renovations arose along with permanent financing for those improvements.
Crews introduced MFH to the opportunity to finance its projects with long-term, tax-exempt bonds. Additionally, Crews presented the idea to the Arkansas Development Financing Authority (“ADFA”) as a candidate for its bond guarantee program, a state credit enhancement tool traditionally used for manufacturing and industrial type financings.
ADFA agreed to credit enhance the bonds, and as a result, Crews was able to sell $4,955,000 in bonds for MHF with a Standard & Poor’s credit rating of “A” that would have otherwise been non-rated. The result was a very attractive long-term interest rate for MFH. This allowed MFH to refinance its obligations at a significantly lower interest rate, saving them money in the process.
Crews worked hard to serve our client in extraordinary ways by: