Care Home Finance

Securing care home finance can help fund the development and operation of a nursing home or even pay for its initial purchase.

Finance can also assist care home operators with cashflow and help them afford equipment they need. Whether loans for nursing homes are needed to expand or to streamline day-to-day expenditure, a diverse range of financial products are available to apply for.

Care home mortgages are commercial mortgages, designed to help business owners buy or set up a nursing home with a large loan paid back over many years. Development loans, however, provide the funds necessary to remodel an existing care home or expand it with a new wing to accommodate more residents.

Nursing homes need a wide range of often expensive equipment to care for residents effectively. This includes bathroom and mobility aids, personal care items, bed support and safety and transfer equipment. Asset finance can be useful for care home businesses that lack access to cash that isn’t already spoken for and require a simple, swift and affordable solution to purchase essential equipment.

Buying equipment outright puts a strain on nursing home finances, but with asset finance operators can quickly access fresh funds for important purchases with a fixed repayment term and a manageable monthly cost. Asset finance is among the easiest financial products to secure and an agreed instalment plan makes it easier to balance the books, as well as manage cashflow and monthly outgoings.

Short-term solutions, working capital loans can be helpful when care homes need funds to cover gaps in cash flow while a revolving line of credit is a flexible option that lets operators borrow when they need it and make repayment once customers pay.

Care homes in need of finance will find many mainstream commercial lenders who offer loans, but also specialist lenders who provide financial products specifically designed for nursing homes. Care home operators can also benefit from the services of digital lenders that streamline the entire lending process for a stress-free, efficient service.

If you run a care home and need funds, at AJL Finance we can help. With over 20 years’ experience assisting UK businesses to secure finance, we pride ourselves on total transparency.

You can also rely on us for a rapid turnaround when you need a swift solution with a decision offered within 48 hours. Contact us now to discuss the finance you require.