CareCloud (CCLD) closed a new $10M credit facility with Provident Bank on September 3, 2025, approximately $8.3M of which was drawn down at closing to support the recent acquisition of the assets of Medsphere Systems Corporation. This is the Company’s sole credit facility, and its terms are far more favorable than those of the Wells Fargo promissory note, which was replaced in full by this facility. The Provident facility currently bears an interest rate of SOFR plus 3%, which presently equates to less than 7.5%, marking a significant discount to the acquisition-related Wells Fargo promissory note. The facility carries a two-year term.
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