Cash-out refinancing on licensed assisted living and residential care property. The numbers are on this page — no form required to see them.
Address, bed count, license status, and whether there’s existing debt. That’s enough for a straight answer on whether it’s placeable.
No obligation. We’ll come back with a straight answer on placeability.
NMLS #2640412
Business purpose only — not owner-occupied primary residences
This is why most owners conclude the equity is unreachable. It isn’t. The programs they were pointed at simply were not built to release it.
Won’t distribute equity — not to you, not to your partners. Distributions to owners and reimbursement of owner equity are prohibited uses of proceeds.
Prohibits cash-out entirely, and requires 20 or more beds. Run a 10-bed home and you were never eligible to begin with.
Will quote you tomorrow, at a rate and point structure that eats the reason you borrowed in the first place.
Might do it. Slowly, for a comparable rate, and only if they already like you.
Which leaves one structure built for exactly this.
Stated plainly, on the page, before you give us anything.
Qualification runs on the property and the operation, not on a personal income test. Terms vary by scenario and remain subject to underwriting.
Business-purpose proceeds, deployed where you decide they do the most good.
Exit short-term or hard money debt into permanent financing. No balloon waiting for you.
Fund the build-out or conversion that raises licensed capacity.
Capital improvements on the facility, paid for out of the equity already sitting in it.
Distribute proceeds to the partners who funded the acquisition. The one thing SBA will not let you do.
Address, bed count, license status, and whether there’s existing debt. That’s enough for a straight answer on whether it’s placeable.