Finance For Small/Specialist Care Homes
Get funding to start or grow a specialist care businessSpeak to one of our experts020 4525 5312
Designed For Your Business
- Payments geared to your turnover
- Adverse Credit – no problem
- No Income Proof Required
- Repayment and interest-only available
Finance For Property
- Terms up to 20 years
- £50,000 – No Maximum
- Rates from 2% over base rate
- Up to 80% Loan to Value available
- Answers for all types of challenges
- Solutions tailored to your needs
- Arrangements tailored to your circumstances
- Assets, cashflow, growth capital
Finance For Small/Specialist Care Homes
Smaller care homes can struggle to find the right finance options. Rangewell can support you in securing specialist loans for your sector.
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The care sector is a vital part of the UK’s private healthcare market. Care homes, typically those reserved for the elderly, can be highly profitable ventures – with high demand across every region in the country.
To help cater for this demand, most care homes are designed with the maximum amount of bed spaces possible. These large care homes are viewed as good investments, with loan providers often requiring a minimum number of beds before they will offer finance.
For smaller, specialist care homes, this can be an issue. How can you raise the loans you need to buy equipment, fund expansions, plug cashflow gaps and more if lenders only want to finance care homes with lots of beds?
The answer lies in having our team on your side. Here at Rangewell, we know the sector inside and out and can help identify lenders willing to lend to smaller, more specialist care homes. Working together, we’ll help you strengthen your application and negotiate the agreement on your behalf to raise loans that can be used for all manner of purposes, including:
- Asset finance to help you purchase specialist equipment for your residents
- Working capital finance to help you hire new carers, fund marketing campaigns, plug cash flow gaps and more.
- Development finance to renovate rooms or construct new premises on existing land.
Whatever you need the money for, Rangewell can help small care homes gather the finance you need. Speak to our team today to get started.
What types of loans suit your care home?
Not sure which types of finance are best for your specialist care facility? In our experience, borrowers are usually looking for assistance when faced with sudden, expensive up-front costs such as those posed by needing new equipment or having to suddenly pay an unexpected bill. Finance can help you in all of those scenarios, with loan products including:
Building a specialist care home
Lots of smaller care homes are converted from residential properties, which means you’ll need finance to acquire the property and fund the conversion project. Provided you have a significant deposit, lenders may be willing to issue the loan you need – though it will depend on the strength of your application and business planning.
To improve your chance of a successful outcome, work with our team to strengthen your business plan, iron out your development project and negotiate with a receptive lender that understands the sector.
Finance for specialist assets
Care homes often face high equipment costs, especially for specialist facilities that need cutting-edge medical or assistive machinery. Rather than having to buy these assets outright, you can approach a lender for asset finance instead.
In an asset finance agreement, the lender purchases the asset and then leases it to you, reducing their perceived risk and allowing you to own the asset provided you keep up with monthly repayments. This is a great route to spread the cost of equipment and will be appealing for care homes of all sizes – though it can save more specialist facilities even greater amounts of money due to the high costs involved.
Visit asset finance to learn more and apply today.
Loans for staffing costs
Paying specialist support workers to staff your care home isn’t cheap. Recruitment fees, wage bills and other costs can all quickly mount up – especially if you’re only just getting started and haven’t yet started to generate the revenue you need to pay them.
In some cases, any sudden drops in occupancy rate can put immediate pressure on your ability to pay staff. To help keep your business running smoothly, you can raise working capital finance that allows you to pay wages and alleviate the burden.
See working capital finance to learn more.
Care home finance with Rangewell
We support the care sector with finance for all sorts of requirements. See more examples of our work in care or get in touch with us today to arrange a loan to suit you.
Contact Rangewell today to fund your pharmacy with bespoke loans built for you.
Last update: 2 October 2023
Download Rangewell’s free and detailed guide to Finance for your Care Home
What types of finance are available to Care Homes and business providing residential care?
What is Asset Finance - and how it gives you a business advantage
Can finance help me increase the number of care home places my property offers?
Why not all providers are equal - finding the one that’s right for you
How we can help you pay less than 0%
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