4.926% 504 20 year term, December 2018
4.990% 504 25 year term, December 2018

 

Ladysmith Care Community

June 2013 | Ladysmith, WI

 

Mike and Cheryl Kelley have owned and operated Ladysmith Care Community in Ladysmith, WI, since 1967. The facility began as Ladysmith Nursing Home, but has expanded over the years to include Ladysmith Living Center (a skilled nursing facility), Ladysmith Senior Living Center (a residential care apartment), and a personal transportation service for the elderly. The team at Ladysmith Care Community is committed to providing quality, customer-centered care in a homelike environment.

 

In 2011, Michael and Cheryl undertook a major renovation project to expand their facilities. They worked with WBD and Royal Credit Union to obtain an SBA 504 loan, which allowed them to purchase land adjacent to Ladysmith Nursing Home and construct separate buildings for Ladysmith Living Center and Ladysmith Senior Living Center, all connected by indoor walkways. The loan also helped them purchase equipment and furnishings for the new buildings. This expansion project enabled the creation of 7 new jobs, supporting economic development in the community of Ladysmith.

 

Funded

June 2013

 

Owner(s)

Michael and Cheryl Kelley

 

Bank & Lender

Royal Credit Union, David Thoe

 

Financing

Purchase of real estate and construction; purchase of equipment

 

Jobs Created & Retained

Created 7 jobs

 

Public Policy Goals/Local Development Goals

Aiding rural development (pop. of Ladysmith is 3,383)

 

Project Amount

$6,521,000

 

WBD Contact

Mike Dieckman

 

Mike's Personal Page

 

Email Mike

P: (715) 598-9956

Mike and Cheryl Kelley have owned and operated Ladysmith Care Community in Ladysmith, WI, since 1967. The facility began as Ladysmith Nursing Home, but has expanded over the years to include Ladysmith Living Center (a skilled nursing facility), Ladysmith Senior Living Center (a residential care apartment), and a personal transportation service for the elderly. The team at Ladysmith Care Community is committed to providing quality, customer-centered care in a homelike environment.

 

In 2011, Michael and Cheryl undertook a major renovation project to expand their facilities. They worked with WBD and Royal Credit Union to obtain an SBA 504 loan, which allowed them to purchase land adjacent to Ladysmith Nursing Home and construct separate buildings for Ladysmith Living Center and Ladysmith Senior Living Center, all connected by indoor walkways. The loan also helped them purchase equipment and furnishings for the new buildings. This expansion project enabled the creation of 7 new jobs, supporting economic development in the community of Ladysmith.