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Press release content from Business Wire. The AP news staff was not involved in its creation.

BizCap Secures $7.5 Million in Financing for Elevate Addiction Services

November 11, 2021 GMT

SAN FRANCISCO--(BUSINESS WIRE)--Nov 11, 2021--

BizCap®, a national commercial finance and advisory firm, today announced it has successfully structured and secured $7.5 million in growth financing for its client Elevate Addiction Services, a national leader and innovator in drug and alcohol rehabilitation. Elevate Addiction Services will utilize this new debt funding to finance growth initiatives, including expanding their services and facilities into new, high demand regions across the country.

“Over the last 5 years we have been deeply committed to building the most effective model in order to achieve the best possible outcome for our clients,” said Dan Manson, President of Elevate Addiction Services. “We have had a fantastic partner in the team at BizCap, and because of their dedication to understanding our operating model and future vision, along with their expertise and incredible partner network, we now have secured the financial resources to enable us to execute on our long-term mission,” he added.

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In October of 2020, Elevate Addiction Services was recognized as the #1 drug and alcohol treatment program in the USA (based on verified clinical outcomes as documented by a third-party independent study).

“We were so impressed by Elevate’s management team and their vision for growth,” said Chuck Doyle, President and CEO of BizCap. “Our team dug in and developed a thorough understanding of Elevate’s value proposition and plan for growth, and in so doing was able to secure an optimal financial solution to meet their needs.”

BizCap recently announced the successful financing for its repeat client AlterG, leader in physical rehabilitation and elite athletic training.

About BizCap

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BizCap® (Business Capital since 2002) is a time-tested national commercial finance and advisory firm specializing in securing customized non-dilutive credit-based solutions for rapidly growing as well as challenged middle market companies nationwide who require unique, timely and tailored financing structures to address their particular needs, especially when conventional sources of capital are not an option. BizCap is a proud supporter of Team IMPACT, a national nonprofit that connects children facing serious and chronic Illnesses with local college athletic teams, forming life-long bonds and life-changing outcomes.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211111005796/en/

Media Contact: Ryan Barringer,rbarringer@bizcap.comBusiness Inquiries: Chuck Doyle,cdoyle@bizcap.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES HEALTH OTHER HEALTH FINANCE

SOURCE: BizCap

Copyright Business Wire 2021.

PUB: 11/11/2021 10:11 AM/DISC: 11/11/2021 10:11 AM

http://www.businesswire.com/news/home/20211111005796/en