Healthcare
Business Funding for Senior Care Providers
Senior care is one of the fastest growing sectors in the economy as the population ages, but the capital requirements are substantial. Assisted living facilities need licensed buildings, specialized equipment, and round-the-clock staffing. Even non-medical home care agencies need working capital to cover caregiver wages before clients pay. The regulatory environment adds compliance costs that many business owners underestimate.
Common Uses
What Senior Care Providers Use Funding For
- Acquire or renovate a facility to meet state assisted living or memory care licensing requirements
- Cover caregiver wages and benefits while building census in a new facility
- Purchase medical equipment, monitoring systems, and accessibility modifications
- Fund marketing to families and hospital discharge planners to build referral relationships
Funding Options
Best Funding Types for Senior Care Providers
SBA 504 Loan
Ideal for purchasing or renovating a senior care facility. SBA 504 loans offer fixed rates and 20 to 25 year terms on real estate, which keeps monthly costs low while you build census and stabilize revenue.
Working Capital Loan
Cover the gap between opening a facility and reaching breakeven occupancy, which typically takes 12 to 18 months. Working capital loans keep the lights on and staff paid during that critical ramp-up period.
Medical Receivables Factoring
For agencies billing Medicaid or long-term care insurance, factoring receivables provides immediate cash. Medicaid payments can take 45 to 90 days, and factoring prevents that delay from crippling your operations.
What Lenders Look For
Qualification Notes for Senior Care Providers
Related Industries
Related Healthcare Funding
By Location
Senior Care Providers Funding by City
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