08:47 AM EDT, 09/09/2025 (MT Newswires) -- CareCloud ( CCLD ) said Tuesday it has closed a $10 million credit facility with Provident Financial Services' ( PFS ) Provident Bank, drawing about $8.3 million to help fund its recent purchase of Medsphere Systems' assets.

The company said the new two-year loan replaces an acquisition-related promissory note obligation to Wells Fargo ( WFC ) and the Provident credit facility currently has an interest rate of SOFR plus 3%, which equates to less than 7.5%.