Bridge Bank Issues $4 Million Line of Credit to Ride Health
November 09, 2021
Bridge Bank today announced that it has issued an accounts receivable-based $4 million line of credit to Ride Health, a New York City-based healthcare technology and services company focused on patient transportation. The line of credit will be used to support working capital needs.
“Bridge Bank works with many innovative companies like Ride Health to deliver customized banking and financing solutions to support their growth,” said Roger Klarmann, senior vice president in Bridge Bank’s New York-based Technology Banking group. “We are pleased support Ride Health’s technology-enabled approach to transportation that ensures every patient can get where they need to go to access care.”
Bridge Bank prioritizes client relationships in its work with tech and innovation sector customers. Earlier this year, Bridge Bank provided Ride Health with a separate debt financing.
“Working with Roger and his team has been great,” said Imran Cronk, founder and chief executive officer of Ride Health. “We appreciate Bridge Bank’s highly responsive and tailored approach.”
Ride Health was founded to modernize the non-emergency medical transportation industry’s analog approach to ride coordination, offering an end-to-end transportation solution that automates trip scheduling, ride communications and benefit management across a national network of ride-hailing services, taxi companies and non-emergency medical transportation providers. The company partners with health plans, healthcare providers and life sciences organizations to manage transportation benefits and enterprise programs focused on improving clinical outcomes for populations facing transportation barriers.
Bridge Bank, a division of Western Alliance Bank, Member FDIC, helps business clients realize their ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers a better way to bank for small to mid-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank delivers a broad scope of financial solutions, including startup banking, capital, equipment and working capital credit facilities, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans and a full line of international products and services. Based in San Jose, Bridge Bank has 16 offices in major markets across the country, along with Western Alliance Bank’s powerful array of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation, with more than $50 billion in assets. Western Alliance is again #1 best-performing of the 50 largest public U.S. banks in the S&P Global Market Intelligence listing for 2020 and ranks high on the Forbes “Best Banks in America” list year after year.