How ONE Key Person Can Help You Build Your Assisted Living Business

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Starting an assisted living business can feel exciting—but also overwhelming. Where do you start? How do you get funding? Who can help you make it happen?

Good news—you don’t have to figure it out alone! This guide breaks down the key person you need in your network to help secure funding for your assisted living business and shares actionable steps you can take to build those relationships.

Let’s dive in! 🚀

Check out this video, too:

Why Building Relationships Matters

Funding is often the biggest hurdle for new assisted living businesses.

A strong network can make a huge difference. Relationships can:
✅ Open doors to lenders you wouldn’t find on your own
✅ Help you understand the funding process
✅ Give you coaching and guidance to present your business professionally

It’s not just about knowing someone—it’s about building trust and connections that last.

Step 1: Start Your Own Lender Search

Before finding the key person, you should do some groundwork yourself:

🔍 Search online for lenders – Look for SBA lenders in your state. Many states have lists already compiled.
📞 Cold call local banks and credit unions – Keep your pitch short and clear. For example:

Introduce yourself and explain you are starting or buying an assisted living business and looking for funding. Ask if they can help, and if not, ask who they know that can.

💡 Tip: Always leave an open-ended question. Instead of just asking “yes or no,” ask them who they know who can help. This opens doors and starts networking.

✅ Be professional and courteous. You never know when you might need their help in the future.

Step 2: Leverage Your Broker or Agent

If you’re buying an existing facility, your broker or agent can be a massive resource.

Brokers and agents:
✅ Have existing relationships with lenders
✅ Know how to navigate deals and negotiations
✅ Can make warm introductions, saving you time and effort

And the best part? They get paid by the seller, so you don’t have to pay them directly.

Step 3: Find the Key Person – A Lending Broker

The most critical person to have in your network is a lending broker.

What do they do?
💼 Gather information from multiple lenders
💼 Facilitate introductions
💼 Coach you through the funding process, including paperwork, underwriting, and business plans

A good lending broker can exponentially increase your chances of securing funding. Here are a couple resources:

Regina Morgan – She works with lending partners to help secure funding and has experience with grant projects. Check out my interview with Regina here 👉 Regina Morgan Interview
Find a lending broker near you – I used a lending broker with the Bank of Denver to fund both of my assisted living facilities - look for someone who can help you at your local bank.

💡 Pro Tip: Your agent or broker can often connect you with a lending broker. Use those connections—they save you months of effort.

Step 4: Be Prepared and Put in the Work

Having a lending broker doesn’t mean everything is automatic.

To maximize your success:
✅ Prepare a solid business plan (Download the free Business Plan Checklist)
✅ Learn underwriting and know your numbers
✅ Be patient and consistent—relationship building takes time

Even with a lending broker, persistence and preparation are key.

Step 5: Build a Network That Supports Your Business

Funding is just one part of launching a successful assisted living business. By building relationships with lenders, brokers, and agents, you create a support system that:
✅ Opens doors to opportunities
✅ Provides coaching and guidance
✅ Helps you confidently navigate complex processes

Focus on relationships, follow the steps, and your chances of funding success will grow exponentially.

Next Steps: Take Action Today!

🚀 Ready to launch your assisted living business in the next 12 months? Here’s how to start:

✅ Step 1: Download the Business Plan Checklist to start building your foundation.
✅ Step 2: Apply to join the Assisted Living Investing Mastermind for coaching and guidance to help you secure funding and grow your business.

Got questions? Drop them in the comments below! ⬇️

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