Washington Trust Provides $2.5 Million in Financing for the Expansion and Renovation of the Ronald McDonald House of Providence, RI
April 19, 2016
April 19, 2016
Westerly, RI – The Washington Trust Company recently provided $2.5 Million in commercial financing to the Ronald McDonald House of Providence for the expansion and renovation of its family support facilities.
Located at 45 Gay Street in Providence, the existing Ronald McDonald House guest-room facility was constructed in 1989 and includes 18 rooms with baths to accommodate families seeking care at local hospitals. The Ronald McDonald House of Providence is a non-profit dedicated to providing a temporary home for families with children from birth to 21 years old who are hospitalized or receive major medical treatments at nearby Women & Infants, Bradley, Hasbro Children’s and Rhode Island Hospitals. The new expansion of the facility will double its size, providing an additional 10 rooms to help meet demand and allow 28 families to stay at the house at any given time.
“We are excited to have Ronald McDonald House of Providence as a customer and to play a small role in helping this organization with its expansion,” said Robert R. Kent, Jr., Senior Vice President and Team Leader of Washington Trust’s Commercial Banking Group. “These additional rooms will help more families support their children who are seeking medical treatment in our area hospitals and we are proud to partner with Ronald McDonald House of Providence to be part of that effort.”
“We are pleased to be working with The Washington Trust Company for the commercial financing of our expansion project,” says Michael Fantom, C.E.O. of Ronald McDonald House Providence. “This expansion will allow RMH Providence to work towards the goal of serving more families in medical crisis. Construction is currently underway with project completion scheduled for mid-July of 2016."
Washington Trust’s commercial banking group offers a full line of commercial, industrial and real estate lending and cash management services to leading companies, real estate developers, not-for-profits and municipalities throughout the Northeast. For more information, contact Robert R. Kent, Jr., Senior Vice President and Commercial Banking Team Leader, at 401-654-4855.
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Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ OMX®: WASH). Additional information on Washington Trust and its subsidiaries can be found at www.washtrust.com.