Insider Hacks to Get Funding for Your Assisted Living Business

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Starting an assisted living business is exciting—but let’s be real… funding can feel like the hardest part. You might be wondering:

Where do I even start?
Who will lend me money?
How do I make lenders take me seriously?

Good news—you don’t need to figure it out alone. In this post, I’ll share insider hacks to help you secure financing for your assisted living business. These are simple, proven steps that beginners use every day to launch their first care home.

Check out this video, too:

Why Your Business Plan Matters 📑

“Your business plan is one of the most key things that you can do.”

Lenders want to see that you’ve thought this through. A business plan shows them you’re serious. It’s not just paperwork—it’s your roadmap.

Here’s what to include:

Who you want to serve (your target population)
The type of home and location you’re considering
Operations and staffing plans
Financial projections (income & expenses)

👉 Grab this FREE Business Plan Checklist to make sure you don’t miss anything.

Underwriting: Know Your Numbers 🔢

“Underwriting is absolutely key.”

Underwriting means breaking down the numbers to see if a deal actually works. If the numbers don’t add up—don’t force it. Walk away.

Here’s what you’ll look at:

Income (what residents will pay)
Expenses (wages, insurance, food, energy (utilities), debt service (mortgage/rent))
Profit margins (what’s left over)

👉 Pro Tip: Use the FREE Underwriting Calculator to make this simple.

If a deal doesn’t make financial sense, that’s okay. Another one will.

Cast a Wide Net 🎣

“Cast a wide net.”

Don’t talk to just one bank and call it good. Different lenders have different appetites. Some will say "no". Others will compete for your deal.

Here are some options:

SBA loans (Small Business Administration)
Local banks
Credit unions
Private lenders
Hard money lenders
Friends & family
Investors

The more doors you knock on, the better your odds.

Build Real Relationships 🤝

“Build relationships with lenders. Be super responsive.”

Financing isn’t only about numbers. It’s also about trust. Lenders want to see that you’re organized, prepared, and professional.

How to stand out:

Respond quickly when they ask for documents
Keep everything neat in a Google Drive “Lender Docs” folder
Be consistent and show you’re serious

These small steps make a big impression.

Handle “No” Like a Pro 🚪

“You’re going to get no's.”

Here’s the truth: your first lender will probably say "no". That’s normal. But “no” doesn’t mean forever—it just means "not yet".

When you hear "no":

Ask for feedback
Improve your plan
Try again with someone else

Each “no” brings you closer to a “yes.”

Action Steps: Your Funding Checklist ✅

Here’s what you can do today:

Write a clear business plan
Use the underwriting calculator to test profitability
Walk away if a deal doesn’t make sense
Make a list of 20+ lenders to contact
Set up a Google Drive folder for documents
Be fast and professional with lender requests

Take it step by step. “It doesn’t take a lot, just a little bit. Step by step.”

NEXT STEPS TO DO 🚀

👉 Download the FREE Business Plan Checklist — it walks you through exactly what to include in your plan.

👉 Apply to join the ALI Mastermind — if you’re serious about getting funding and launching your first facility.

Final Thoughts

Securing funding for your assisted living business may feel overwhelming, but you don’t need to do it alone. With a strong plan, smart underwriting, persistence, and real relationships—you can get the financing you need.

Remember: every "no" is just one step closer to your "yes". Keep moving forward.

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