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Small Senior Assisted Living Facility Needs a Loan That Makes Sense

by nrswoods, Window Shopper

  • Created: February 11, 2011, 8:28 pm
  • Updated: July 27, 2012, 1:06 pm
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5 comments

I live in and operate a licensed six bed assisted living facility.  It is well established and has been running for over seven years.  I have even added two bedrooms and a bathroom during this time.  I have been paying on a lease option for all these years and need financing to purchase the house and pay off the construction loans.  Where can I find financing for my purpose?  This is my primary residence and my business. I am kinda lost when it comes to financing.   I would welcome any intellegent assistance.  Thank you for your help. 

Tags: Discuss Popular Topics, Loans & Grants
‹ Loans and Grants Financing ›

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MarkD | Window Shopper | 7/26/2012 - 3:02 pm

If you feel your business is doing well enough, then getting that loan
shouldn't be a problems. Just make sure you have all your paperwork to show
proof of how well you are doing with that business. I hope this helps and
good luck.
Professional Web Site: http://www.getyourbucks.com/

rtysmith | Window Shopper | 5/14/2012 - 3:08 pm

This comment was removed from public view (Spam). Please review the Community Rules of Conduct for more information.

eileen | Window Shopper | 5/9/2012 - 9:34 am

As you are already running business with a good income then definitely Of
course you should go for loan and I don’t think you going to having much
problem in getting loan. It would be better for you to visit a financial
company and asked them for loan for your business.
All the best
Professional Web Site: http://cashone.com/

charlesyoung | Window Shopper | 5/7/2012 - 5:40 pm

I hope by now you have found financing. If not I would urge you to seek out a
quality mortgage broker - not a bank. I have seen many businesses like your
financed with a owner occupied mortgage. Check around and look for a Broker
that's known as a problem solver.
Professional Web Site: Manuals on Starting and Operating an Assisted Living Facility

NicoleD | Former Moderator | 2/14/2011 - 3:02 pm

Is your business a non-profit organization? The Federal government provides grants, loans and programs to fund non profit projects. For example, the Department of Justic's Transitional Housing Assistance Program targets programs that assist victims of domestic and relationship violence, stalking, or sexual assault, while the Supportive Housing Program (SHP) grants from the Department of Housing and Urban Development benefit transitional housing for the homeless, and the Department of Veteran Affairs sets aside annual funding to community agencies and non profits that provide housing or supportive services for homeless Veterans. Many state and local governments also provide financial assistance to non profit organizations. Check with your local social services or family welfare offices for information on the programs in your area. Grant Program for Non Profit Housing Providers for Homeless Veterans: http://community.sba.gov/community/blogs/expert-insight-and-news/small-b... HUD Supporting Housing Program: http://community.sba.gov/community/blogs/expert-insight-and-news/small-b... The Department of Justice's Transitional Housing Grant Program: http://www.ovw.usdoj.gov/thousing_grant_desc.htm You can learn more about opportunties for starting a transitional housing facility at SBA.gov: http://community.sba.gov/community/blogs/expert-insight-and-news/busines...