Apply for New York Assisted Living Facility Financing

Ready to finance your New York assisted living facility? Whether you're acquiring an existing ACF, building new, refinancing, or expanding, Jaken Finance Group offers specialized financing solutions tailored to the New York market.

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Submit your scenario and receive a customized financing proposal within 24-48 hours.

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Financing Options for New York ALFs

Loan Programs Available

Program	Best For	Amount	Term
SBA 7(a)	Acquisitions, refinancing	Up to $5M	25 years
SBA 504	Real estate, construction	Up to $5.5M	20-25 years
HUD 232	Large facilities, non-recourse	No limit	35-40 years
Conventional	Quick closings, flexibility	Varies	5-10 years
Bridge Loans	Value-add, turnarounds	Varies	1-3 years

What We Finance

✅ Acquisitions - Purchase existing facilities
✅ New Construction - Ground-up development
✅ Refinancing - Improve terms, cash-out equity
✅ Expansions - Add beds, memory care wings
✅ Renovations - Major improvements
✅ Working Capital - Operational needs

New York Markets We Serve

Statewide Coverage

Region	Markets
NYC Metro	Manhattan, Brooklyn, Queens, Bronx, Staten Island
Long Island	Nassau County, Suffolk County
Hudson Valley	Westchester, Rockland, Orange, Dutchess, Ulster
Capital Region	Albany, Schenectady, Troy, Saratoga
Central NY	Syracuse, Utica, Binghamton
Western NY	Buffalo, Rochester, Niagara Falls
North Country	Plattsburgh, Watertown
Southern Tier	Elmira, Ithaca, Corning

Loan Requirements

Borrower Qualifications

Requirement	SBA Loans	HUD 232	Conventional
Credit Score	680+	680+	700+
Experience	Preferred	Required (3+ years)	Preferred
Net Worth	Varies	Project-based	25%+ of loan
Liquidity	10% of loan	6 months debt service	10% of loan

Property Requirements

Requirement	Details
License	Valid NY DOH ACF license (or ability to obtain)
Occupancy	85%+ for refinancing
Condition	Good physical condition
Compliance	No outstanding violations

Application Process

Step 1: Initial Consultation

Property details
Financing needs
Timeline requirements
Preliminary qualification

Step 2: Document Submission

Provide required documentation:

For Acquisitions:

Purchase agreement
3 years seller financials
Current rent roll
Property information

For Refinancing:

Current loan documents
3 years facility financials
Current rent roll
Property condition info

For Construction:

Project plans and budget
Market feasibility study
Development team info
Site information

Step 3: Underwriting

Our team analyzes:

Financial performance
Market conditions
Property value
Borrower strength

Step 4: Approval & Closing

Receive loan commitment
Complete due diligence
Close and fund

Questions About the Application Process?

Our team is here to guide you through every step.

Required Documents Checklist

Business Documents

[ ] Business plan (acquisitions/new construction)
[ ] 3 years business tax returns
[ ] Year-to-date financial statements
[ ] Accounts receivable aging
[ ] Accounts payable aging
[ ] Current rent roll
[ ] Historical occupancy data
[ ] DOH license and inspection reports
[ ] Management agreement (if applicable)

Personal Documents

[ ] Personal tax returns (3 years)
[ ] Personal financial statement
[ ] Resume/CV
[ ] Photo ID

Property Documents

[ ] Purchase agreement (acquisitions)
[ ] Current loan documents (refinancing)
[ ] Property photos
[ ] Site plan
[ ] Building plans (construction)

Timeline Expectations

Typical Closing Timelines

Loan Type	Timeline
SBA 7(a)	45-90 days
SBA 504	60-120 days
HUD 232	120-180 days
Conventional	30-60 days
Bridge	14-30 days

Factors Affecting Timeline

Completeness of documentation
Property condition and compliance
Appraisal and environmental timing
Title and legal review
Borrower responsiveness

Why Choose Jaken Finance Group?

Our Expertise

Specialized focus on assisted living and senior care
New York market knowledge across all regions
Multiple lending programs for every situation
Experienced team with healthcare finance background
Streamlined process for faster closings

Our Commitment

Transparent communication throughout
Competitive rates and terms
Creative solutions for complex situations
Long-term partnership approach
Ongoing support after closing

Frequently Asked Questions

How much can I borrow?

Loan amounts depend on property value, cash flow, and borrower qualifications. SBA loans cap at $5-5.5 million, while HUD 232 has no maximum.

What down payment is required?

Down payments range from 10-30% depending on loan program:

SBA: 10-15%
HUD 232: 15-25%
Conventional: 20-30%

Do I need industry experience?

Experience is preferred for most programs and required for HUD 232. First-time buyers can qualify with SBA loans, especially with a strong management team.

How long does approval take?

Approval timelines range from 2 weeks (bridge loans) to 6 months (HUD 232). SBA loans typically take 6-12 weeks.

Can I finance a facility that needs improvements?

Yes. Bridge loans, SBA loans, and HUD 232 substantial rehabilitation programs can finance value-add acquisitions.

Current Market Rates (2026)

Loan Type	Rate Range	Notes
SBA 7(a)	9.5-10.5%	Variable, based on Prime
SBA 504	6.0-7.0%	Fixed CDC portion
HUD 232	5.5-6.5%	Fixed, plus MIP
Conventional	7.5-9.0%	Varies by lender
Bridge	10-14%	Short-term

Rates as of January 2026. Subject to change.

Ready to Get Started?

Three Ways to Apply

1. Online Application Submit your scenario through our secure online portal for the fastest response.

Submit Online →

2. Phone Consultation Speak directly with a financing specialist about your project.

3. Email Inquiry Send your project details for a preliminary review.

Related New York ALF Resources

Take the First Step Today

Get your free, no-obligation financing quote for your New York assisted living facility.

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Disclaimer: All financing is subject to credit approval and underwriting. Rates, terms, and availability may vary based on borrower qualifications, property characteristics, and market conditions. This is not a commitment to lend. Jaken Finance Group is an equal opportunity lender.