Barbara Morrison

By Barbara Morrison According to the Centers for Disease Control and Prevention (CDC), there are around 28,900 residential care and assisted living facilities in the U.S.. The majority of the facilities contribute greatly to the country’s social and economic fabric. However, despite the importance of these facilities in our society, they often struggle to find affordable financing to expand or improve their services.

I’d like to share a case study to talk about SBA 504 commercial real estate financing. My company, TMC Financing, recently helped Dean & Grey Care Services co-owners Karl Ramos and Ana Espinoza secure $1.6 million in SBA 504 commercial real estate financing. The funds were used to purchase a 12-resident assisted living facility in Carmichael, CA. With just 15% down, Ramos and Espinoza obtained this property at a below-market, fixed rate for 25 years.

There are approximately 28,900 residential care and assisted living communities in the United States, according to the Centers for Disease Control and Prevention. The majority are well-established, contributing greatly to the country’s socioeconomic fabric. Despite importance of assisted living, however, it can be difficult for providers to find affordable financing to expand or improve services.