Bethany Home, Inc. in Minden Recives USDA Rural Development Guarantee on $6.1 Million Loan

Name
Vicki Schurman
City
Minden
State
Nebraska
Release Date
Mar 12, 2015

Bethany Home, Inc. is the recipient of a $6.1 million loan from Minden Exchange Bank and Trust Co. backed by a USDA Rural Development loan guarantee.  These funds will be leveraged with $371,000 from Bethany Home, Inc. and $450,000 from the Bethany Home Foundation, Inc.  The funds will be used to convert the facility to provide needed rooms and other facility upgrades and improved energy efficiency.

 “Minden Exchange Bank and Trust Company is very pleased to provide financing for the Bethany Home, Inc. expansion project.  Bethany Home is a great asset to the Minden community and surrounding area,” said Vice President Rob Armstrong, Vice President, Minden Exchange Bank & Trust Co.

 “This project should position Bethany Home to provide the needed services, such as a Memory Support Household, Skilled Nursing Care and Assisted Living, for Minden and the surrounding communities now and into the future,” said Bob Tank, Bethany Home Inc.

Bethany Home, Inc. has been in business of providing care to the elderly since its inception in 1921.  The building that they currently operate from was originally constructed in 1961 and has undergone four expansions.  Reconfiguring of units is needed to meet the needs of the residents today.  This project will be completed in three Phases.

Phase I will add eight assisted living units.  Phase II will combine the two Special Care Units into one 16 bed Memory Support Household.  The goal of the new area is to promote and enhance a higher quality of life for residents with Alzheimer’s/Dementia.  Phase III will renovate 10 Assisted Living Apartments, into seven new Skilled Nursing rooms.  This is the oldest part of the facility, and improvements will include installing new air handling units in each room and energy efficient windows, combining two spaces into one Day room and expanding the space for physical and occupational needs.  Renovations will provide a Transitional Care Unit for the community to utilize as a rehab unit for individuals admitted for a short rehab stay.

“USDA’s guarantee on the funds from the loan originated by Minden Exchange Bank and Trust Co. will be instrumental in meeting the needs of the growing and changing medical needs of those assisted by Bethany Home, Inc.,” said Community Programs Specialist Bert Mues, USDA Rural Development.

For more information visit www.rd.usda.gov/ne.

You can also contact Bert Mues at 308-237-3118 or Roberta.Mues@ne.usda.gov.

President Obama’s plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President’s leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America’s economy, small towns and rural communities. USDA’s investments in rural communities support the rural way of life that stands as the backbone of our American values.