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Care home finance
Adult social care serves a fundamental need of society, offering essential services to people who require day-to-day assistance. Care homes play a critical role in the nation’s healthcare system, relieving pressure on hospitals, emergency wards, and GPs while providing a support network for the elderly and vulnerable.
Care homes face constant challenges year after year, and there can be a reluctance from banks to lend to social care companies. With an ageing UK population and little to no support from banks, the support of alternative lenders can help provide financial support.
At Fleximize, we offer award-winning commercial finance for care homes in the UK. Read on to find out how our fuss-free approach to care home funding could help.
Apply online
Get a decision
Receive your funds
What is care home finance?
Care home finance covers a range of products available to businesses in the senior care space, including business loans for nursing homes, residential care homes, and other providers. External funding can be used in many ways, like protecting your cash flow. Alternatively, you can apply for care home finance for asset purchases, advertising campaigns, service upgrades, or other projects contributing to business growth. As banks frequently dismiss entire sectors based on general trends, digital lenders like Fleximize are often better placed to help businesses through challenging times.
Fleximize finance for care homes
We've helped hundreds of care home businesses to achieve their short and longer-term goals. Our loan products, the Flexiloan and the Flexiloan Lite, come with unsecured and secured options, which you can read more about on our business loans page. Flexibility is at the heart of everything we do, which is why our loans offer:
Loan values between £5,000 and £500,000 from 3 to 60 months.
Competitive interest rates which start at 0.9% per month.
Approval and drawdown in as little as 24 hours.
Flexible options, with top-ups and repayment holidays as standard.
There are no hidden fees under our Penalty-Free Promise.
Interest is paid on a reduced balance rather than the total loan amount.
Access to our Member Marketplace and Knowledge Hub, provides helpful advice and handy discounts.
Our application process is very different from that of a bank, meaning we avoid unnecessary hurdles and delays. You could be eligible for one of our residential or nursing home loans if you've been trading for over six months and passed our basic checks.
How can care home funding be used?
As with many industries, you may encounter obstacles to success in the care sector. The Care Quality Commission demands high standards from every establishment, necessitating heavy investment in facilities, equipment, and staff. Moreover, prospective clients will thoroughly research their options before choosing a care home. To attract new residents, offering well-furnished rooms, trained staff, and extra services like group activities is vital.
Care home funding can be used in many ways to suit your home, including:
Cash flow | Recruitment |
Staff training | Service development |
Mortgage or rental costs | Renovation & refurbishment |
Advertising and marketing | Premises expansion |
Stock purchases | Equipment upgrades |
Check your eligibility for a residential home loan
Fleximize is proud to be different from other finance providers. One way we stand out from the crowd is by keeping our criteria as flexible as possible, but there are a few basic requirements to meet:
The business must be UK-based and registered with Companies House.
Your business must have been trading for at least six months with a minimum monthly turnover of £5,000.
If you’re based in England or Wales, you can apply for up to £500,000 on an unsecured or secured basis. We offer unsecured loans up to £250,000 for businesses in Scotland or Northern Ireland.
Non-homeowners trading for over 36 months can borrow up to £20,000.
Loved by our customers
How to finance a care home?
Interest rates on our nursing and residential home loans start at 0.9%. If you repay early, you’ll save on your total repayment, as interest is only charged when you have the loan. Under our Penalty-Free Promise, you won’t be penalised for early repayment, and there are no other hidden fees in the small print. We keep it personal with all our care home finance packages by getting to know you and your business before tailoring a solution to your needs.
Why choose Fleximize for care home finance in the UK?
We believe in offering flexible finance for care homes that is right for the business. But what does that mean in real terms? Discover five reasons why businesses choose to partner with Fleximize:
Flexible: We offer care home finance packages tailored to your business, complete with our Penalty-Free Promise and other flexible features.
Fuss-free: It takes just a few minutes to complete our online form, and you could have a decision in as little as 24 hours. Once we've got everything, you could receive your funds on the same day.
Trusted: Our customers love us. Read our Trustpilot reviews and customer testimonials to learn about their experiences with the Fleximize team.
Personal: You'll get a dedicated relationship manager to guide you through the process, who'll also be your point of contact if you return for extra funding.
Award-winning: We've been named Best Business Finance Provider at the British Bank Awards and won several other major industry awards.
How much does a care home loan cost?
For an estimated cost of a loan, use our business funding calculator below. This will give you an idea of your monthly repayments based on loan terms. Alternatively, for a personalised quote, call us on 020 7100 0110.
Apply for a care home loan today
It takes just a few minutes to fill out our simple application form to apply for care home funding. Once you’ve passed our basic checks, one of our team will contact you to take you through the final steps.
We’re here to help if you need us. If you’d like to know more about our care home finance in the UK, check out our FAQs or speak to one of our experts on 020 7100 0110.
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