Delta Dental of California and its Affiliate Companies Announce Partnership With Lendeavor for $200 Million Covid-19 Financial Assistance Program

Co-sponsored Loan Program, Available to Independent Dental Providers, Offers Interest Subsidies, Principal Deferment, Business Loan Refinancing and Working Capital

28 de abril de 2020

SAN FRANCISCO - Delta Dental of California, which offers comprehensive oral health care coverage to more than 36 million members, today announced details of a $200 million loan program through a partnership with Lendeavor that will provide economic assistance and post-COVID-19 pandemic relief for its independent provider network across 15 U.S. states and the District of Columbia. Lendeavor, un prestamista digital líder que ofrece soluciones financieras a prácticas de cuidado de la salud, estará a cargo de la administración del programa.

El programa de ayuda con préstamos, que comienza el 30 de abril de 2020, incluye una combinación de alivio en materia de liquidez y ahorros en interes, incluido esto:

  • Primeros 12 meses de intereses sobre el refinanciamiento y los préstamos de capital de trabajo cubiertos por Delta Dental
  • Segundos 12 de intereses sobre los préstamos de capital de trabajo acordados por Delta Dental y cubiertos por Lendeavor
  • Pagos diferidos durante 6 meses
  • Capital de trabajo hasta el 15% de la recaudación del año anterior, con un tope de $200,000
  • Plazo de 126 meses, que puede reducir los pagos mensuales significativamente

"We are grateful to the provider community who continue to deliver essential emergency and other non-elective care to millions of Americans," said Mike Castro, president and chief executive officer of Delta Dental of California. "Like many small businesses, providers are directly experiencing the financial impacts of the COVID-19 crisis. This program is one way we can help some of them continue to care for patients now and manage their practices as the country recovers."

"Our team is working around the clock to help healthcare practices navigate this uncertain and scary time," said Dan Titcomb, co-founder and CEO of Lendeavor. "We are excited to work side-by-side with Delta Dental of California as they take such significant steps to support their provider network."

For more information about the loan program, qualification details and application process, Delta Dental providers can visit https://www.lendeavor.com/apply/refinance-delta-dental (disponible a partir del 30 de abril de 2020) o llamar a la línea de asistencia del programa de Lendeavor al 415-874-5420.

Program Eligibility

Beginning April 30, 2020, the loan program will be available to Delta Dental of California’s independent network provider practices.

An independent practice is any practice that is privately owned by a dentist(s) with no venture capital or corporate support. Federally Qualified Health Centers (FQHC), Community Health Centers (CHC), Large Multi-State Dental Service Organizations (DSO) and the practices affiliated with DSO corporate organizations are not considered independent practices for the purpose of this program.

The program is available to independent network providers in Delta Dental of California’s operating areas of Alabama, California, Delaware, Florida, Georgia, Louisiana, Maryland, Mississippi, Montana, Nevada, New York, Pennsylvania, Texas, Utah, West Virginia and the District of Columbia.

Sobre Delta Dental de California

Desde 1955, Delta Dental of California ha ofrecido una cobertura de salud bucal integral y de alta calidad a millones de afiliados y ha establecido la red más sólida de proveedores dentales del país.

La red de Delta Dental of California incluye sus afiliados, Delta Dental Insurance Company, Delta Dental of Pennsylvania, Delta Dental of New York, Inc., y ofrece beneficios dentales a más de 36 millones de personal en los 15 estados y el Distrito de Columbia. Todos son miembros de la Asociación de Planes de Delta Dental, con sede en Oak Brook, Illinois, la asociación nacional sin fines de lucro que, en conjunto, cubre a millones de personas de todo el país.

Para obtener más información sobre Delta Dental of California, visite  www.deltadentalins.com.

About Lendeavor

Lendeavor is building the modern bank for healthcare practice owners, empowering providers nationwide with technology-enabled financial products and services. Founded in 2014 and backed by QED Investors and Fifth Third Bank, San Francisco-based Lendeavor has originated nearly $500 million in practice and commercial real estate loans to date - including over $200 million in 2019 - by combining disruptive, innovative technology with a uniquely experienced team of healthcare industry experts.

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