Case Study—An Assisted-Living Entrepreneur Expands Her Business
An assisted-living entrepreneur had been running a successful live-in elderly care operation in a single family home she owned. She wanted to purchase a similar house down the street, which would allow her to double her business.
She had not been able to find a lender who would give her a mortgage for the purchase of the second property. Lenders typically do not like to lend on properties where elderly persons would have to be evicted in case of default.
However, her business model was sound and provided a needed service to the community, minimizing the risk of default. We used a specialized lender and a carefully compiled loan application package to get her the loan she needed.
