November Growth; Key New Hires

Provider Web Capital is pleased to report continued growth in monthly originations and increased customer satisfaction as the firm heads into the final month of 2015. Some notable transactions are highlighted below:

• $200,000 to an addiction recovery center in California to help mitigate cash flow issues
• $75,000 to a California based home health provider for expansion
• $50,000 to a Baltimore are mental health provider for working capital stabilization
• Additional capital to a durable medical equipment provider for business expansion

Christopher Stenglein, Chairman of Provider Web, stated, “Provider Web Capital has significantly increased its presence in the alternative lending industry. With the exclusive focus on helping small and midsized healthcare practices achieve financial flexibility, Provider Web’s innovative Remit eXL product allows its clients to realize their goals and help their businesses thrive.”

Mr. Stenglein also commented on the addition of Gary Lockwood and Keara Sauber to the Provider Web Team. Said Mr. Stenglein of the new hires, “Mr. Lockwood and Ms. Sauber, two industry veterans, will run Provider Web’s new operations in New York City; the two will provide an expansive reach into new potential client and referral networks.” Mr. Lockwood comes to Provider Web from Prime Commercial Lending, where he served as Senior Vice President. With years of banking and commercial lending experience, Mr. Lockwood will prove to be an invaluable asset and key component of Provider Web’s client acquisition strategy. Likewise, Ms. Sauber brings significant industry knowledge and understanding to Provider Web; having served for more than 12 years in numerous sales and management positions within the finance and healthcare industries, she hopes to use her unique perspective on the alternative lending industry to help maximize Provider Web’s presence as the company continues its rapid growth. A graduate from the Stillman School of Business at Seton Hall University, Ms. Sauber will be able to leverage her extensive relationships and partnerships as she takes on her new role within Provider Web.

Both Mr. Lockwood and Ms. Sauber are excited to bring their years of industry experience to help Provider Web acquire clients throughout the healthcare industry. “We’re extremely delighted to have Gary and Keara as members of the Provider Web Team,” Stenglein said, “We expect to see deal flow increase thanks to Gary and Keara’s abilities and contacts within the lending industry. We’re in a great place right now and I’m eager to see what the future has in store for us at Provider Web.”