Financing for home care agencies
A home care agency pays caregivers long before the payer pays the agency. We help you explore capital that carries payroll and recruiting while your client base grows.
GROW™ — capital for your next stage
GROW™: up to $350,000, up to 10-year terms, no prepayment penalty and no specific personal collateral required.
What owners typically invest in
- Payroll while payers reimburse
- Recruiting and training caregivers
- Scheduling and compliance software
- Marketing for new referrals
- Opening an office in another area
OWN™ — buy the building where you operate
Even though care happens in the client\u2019s home, the office is where recruiting, training and scheduling live. Owning that space steadies a fixed cost and makes it easier to grow the team without renegotiating rent every few years.
What lenders typically review
Lenders usually review how long the business has operated, its cash flow, the owners’ credit and client concentration and the reimbursement cycle. For GROW™, reference guidelines include three or more years in operation, a personal FICO of 650 or above, a minimum SBSS score of 165, personal and business debts current, repayment capacity with a minimum DSCR of 1.25x and no bankruptcy in the last seven years. GROW™ does not require specific personal collateral, though limited business collateral requirements may apply. To buy the property through OWN™, your business must occupy most of the building.
Frequently asked questions
Can capital cover payroll?
Yes, working capital is a contemplated use, especially when reimbursement arrives weeks after service.
How is an agency with payer contracts evaluated?
Collection history and client concentration are reviewed alongside the business cash flow.
Do I need specific personal collateral?
GROW\u2122 does not require it. Limited business collateral requirements may apply.
What are the reference requirements?
Three or more years in operation, personal FICO of 650 or above, SBSS of at least 165, current debts, a minimum 1.25x DSCR and no bankruptcy in seven years.
Related uses of capital
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The right equipment lets you serve more customers, work faster and offer new services. With working capital you can invest in it without draining your operating account.
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If your business has outgrown its space or customers are asking for you in another area, it may be time to grow. Working capital helps you take that step with a long-term repayment plan.
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Find out what your business may qualify for
Answer a few questions and an advisor will review your case, with no obligation.
All financing is subject to approval, financial analysis and lender terms.