North Shore stockholders offer to lend $700,000 to nursing-home operations
LOVELAND — At least some of the majority owners of North Shore Manor nursing home in Loveland have formed a new company, Loveland Health LLC, and through that company have offered to lend $700,000 to North Shore Manor Inc. and North Shore Associates LLP to shore up its financing during the ongoing bankruptcy proceeding.
Of that amount, $393,547 would be used to pay off a note held by Wapello Holdings II LLC, a company affiliated with the nursing home’s former manager, Columbine Management Systems. The remaining $300,000 of the loan would be a revolving line of credit to permit the nursing…
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