Assisted Living Concepts, Inc. Increases and Extends TCF Loan to $26.25M

Assisted Living Concepts, Inc. ALC announces the expansion and extension of a loan agreement with TCF National Bank. The revised loan agreement increases the loan from $14.0 million to $26.25 million and extends the maturity from June 12, 2014 to September 30, 2015. The loan bears interest at the rate of 6.5% and is secured by mortgages on six of ALC's senior housing residences.