A Creative Path to Profitability
Learn how we stabilized a struggling Assisted Living Facility and restored profitability after a series of financial hurdles.
Loan Amount
$5,000,000
Loan Purpose
The Small Business
Assisted Living Facility | Wellington, FL
The Financing Challenge
When a senior living facility struggling through financial hurdles came to us, their situation was challenging. With reduced occupancy and financial strain during COVID, they had barely managed to stay operational using their remaining cash reserves. An unforeseen licensing renewal and state inspection temporarily closed their facility, requiring months of work and significant investment to comply. Once reopened, the borrower faced the critical task of stabilizing operations and returning to positive cash flow.
That’s where we stepped in. Our team worked with the borrower to provide a tailored financing solution to meet their specific needs. We provided working capital and long-term financing without a balloon payment, reducing their monthly financial burden. By analyzing positive trends in occupancy rates and leveraging month-over-month financial projections, we successfully funded the transaction and set our borrower on a sustainable financial path.
SBA 7(a) Loan Scenario
Here's what our borrower brought to Ready Capital
Business Expertise
Our borrower had strong management experience and operational know-how.
Collateral Strength
Their valuable property appraisal and strong collateral added security to the transaction.
Net Worth
Our borrower had strong personal net worth and liquidity.
CREATIVE SOLUTION
Reliable Results
- We funded a highly-complex transaction by examining the complete financial picture.
- Their doors stayed open, allowing the facility to continue serving seniors in need.
- Our custom-tailored, long-term financing ensured future stability and supported future growth objectives.
The Non-Bank SBA Preferred Lender Difference
A small business loan is not an empty box like a checking or savings account. No two small businesses are alike when it comes to their financing needs. This means that small business financing requires out-of-the-box thinking and capabilities many banks simply can’t offer.
Ready Capital is a non-bank, SBA preferred lending partner (PLP). We speak fluent small business and have the process in place to help them reach their goals the first time.