Financing signed for assisted living - memory care facility

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With United States Department of Agriculture economic development assistance in hand, Swift County-Benson Health Services signed the financing deal with Bremer Bank of Willmar Friday that will fund construction of a new assisted living-memory care facility.

Bremer is lending $7.352 million toward a project with a total cost around $10 million. A $750,000 loan from the Sonsteng Foundation to SCBHS is helping with the project financing. The Sonsteng Foundation had also committed earlier to making a $50,000 annual donation to SCBHS for 10 years.

The SCBHS Foundation has committed around $300,000 toward the project. Past and future cash contributions from SCBHS are also counted as part of the financing package.

The financing leads the way to construction getting underway on a 46-unit assisted living facility of which 18 units will be dedicated to memory care. It is being constructed adjacent to the south side of Scofield Place and east of the SCBHS....


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