various loan options for
CONTINUED CARE RETIREMENT COMMUNITIES
With a long history of financing Continued Care Retirement Communities, especially not-for-profit organizations, we understand the unique needs of this industry. These communities require a significant investment into physical plant assets that have long useful lives, therefore the financing is typically long-term and supports:
- Independent living units
- Assisted living facilities
- Skilled nursing facilities
- Alzheimer/dementia care units
- Dining facilities
- Recreational facilities
- Other residential care facilities
- Construction, improvements or expansion of facilities
- A combination of any or all of the above
Financing Specifications
When eligible, financing can be provided on a bank qualified tax-free or non-bank qualified tax-free basis, both of which allow the borrower to benefit from a reduced interest rate. If the nature of the asset(s) being financed or the organization is not eligible for tax-free financing, financing can be supplied on a taxable basis.
- Provided on a secure basis, generally with a title-insured mortgage against the property or lien against the organization's business assets
- Rate can be fixed for periods of up to 7 years
- Offer both floating and fixed-rate reset options beyond the initial fixed-rate period
- Amortization of debt can go out as far as 25 years, depending on the useful life of the asset(s)
- Shorter amortizations are utilized to finance equipment and/or fixtures
- Working capital lines of credit available for short-term needs and sized appropriately for the individual borrower
For more information or to apply for a loan, contact one of our experienced professionals.
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