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 or demonstrating that you could receive a license before they will make a loan or even process a loan application. Every lender is unique in its approach and requirements.

Thanks for the question Rose.

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