Lending options for Residential Care Facility (RCFE)

[Shera Linares]

Other than an SBA loan, are there lenders out there who specialize in funding Residential Care Facilities for the Elderly (RCFEs) in California? I’m looking to connect 👋🏼

I recently completed the exam to become a licensed administrator and I’m looking purchase my first care home to operate my care business.

[Shera Linares]

@Sam Wilson Thanks for the recommendation. If I can't find him on LInkedIn, I'll definitely message you.

@Jo-Ann Lapin HML and PML is on the list :) I'm also looking into grants and waivers from the state. We are going the non-profit route for the business and will likely use a VA loan to acquire a property and then refinance into a conventional or some sort of commercial loan for a rental property.

@Jesse Rivera I'll keep you posted on the outcome. I was informed yesterday about HUD-VASH but I can't see how an RCFE home would fit into the category of a Group Home...This is pending more research on my part.

Thanks for the feedback everyone! There's not much content out there for RCFE homes but we will figure it out! :)