FAQ: Applying for business loans when opening a facility

Is it true that you need to be licensed before applying for a business loan for opening a care facility? No. You should be able to apply for a loan in anticipation of being licensed. However, it’s likely that some lenders may want you to prove yourself more by taking some initial steps toward licensing […]

Selling Your Assisted Living Facility? Expect Some Visitors

When you’re selling your assisted living facility, there are many steps in the process. Once you have reached an agreement with a buyer, there is a long list of others who may need to visit your property. Due diligence is the process a buyer undertakes to inspect a property and confirm their understanding of the […]

Who Receives the Revenue Earned on Closing Day?

This is a quick answer to a frequently asked question from ALF sellers.   “Who receives the money earned on closing day:  buyer or seller?” As we get closer to closing the sale of your assisted living facility, questions about the final details start to come up.  One of the more common questions when we’re […]

Who Keeps The Cash on Hand When I Sell My ALF?

This is a quick answer to a frequently asked question from ALF sellers.   “When I close on my sale, does the buyer keep the cash in my business bank account?” While many assisted living facilities are owned and operated by individuals or small businesses, most are held in business entities for legal and tax […]