North Dakota ALF Financing Success Stories: Real Projects, Real Results
These North Dakota assisted living facility financing success stories demonstrate how operators and investors have successfully navigated the funding process to achieve their goals in the Peace Garden State.
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Start Your Project Today →Success Story #1: Fargo Acquisition & Renovation
The Challenge
A regional operator identified an underperforming 38-bed facility in Fargo needing operational improvements and capital investment.
Initial Situation:
| Factor | Status |
|---|---|
| Beds | 38 |
| Occupancy | 74% |
| Asking Price | $3.2 million |
| Renovation Needed | $600,000 |
The Solution
SBA 7(a) loan covering acquisition and renovation:
| Component | Amount |
|---|---|
| Total Project | $3,800,000 |
| SBA 7(a) Loan | $3,420,000 (90%) |
| Borrower Equity | $380,000 (10%) |
The Results
| Metric | Before | After | Change |
|---|---|---|---|
| Occupancy | 74% | 94% | +20 pts |
| Monthly Revenue | $133,000 | $178,000 | +34% |
| Property Value | $3.2M | $5.1M | +59% |
Success Story #2: Bismarck New Construction
The Challenge
Developer recognized shortage of quality beds in the state capital region.
Project Overview:
| Factor | Details |
|---|---|
| Beds | 52 (including 16 memory care) |
| Total Budget | $11.8 million |
The Solution
Construction financing with HUD 232 permanent takeout:
| Phase | Amount |
|---|---|
| Construction Loan | $9.4M (80% LTC) |
| Equity | $2.4M (20%) |
| HUD 232 Permanent | $10.0M |
The Results
| Metric | Projected | Actual |
|---|---|---|
| Occupancy (Year 2) | 90% | 93% |
| Annual Revenue | $3.1M | $3.4M |
| NOI | $920K | $1.05M |
Success Story #3: Rural Community Project
The Challenge
Healthcare professional wanted to develop a small ALF in an underserved rural community.
Project Concept:
| Factor | Details |
|---|---|
| Location | Rural community (pop. 6,000) |
| Facility Size | 22 beds |
| Total Budget | $4.5 million |
The Solution
SBA 504 financing with USDA support:
| Source | Amount |
|---|---|
| Bank First Mortgage | $2.25M (50%) |
| SBA 504 Debenture | $1.8M (40%) |
| Borrower Equity | $450K (10%) |
The Results
- 22 local seniors served
- 16 jobs created
- Full occupancy in 18 months
- Community healthcare improved
Lessons Learned
Common Success Factors
- Strong Operator Experience
- Thorough Market Analysis
- Adequate Capitalization
- Quality Partnerships
- Realistic Planning
Related Resources
- North Dakota ALF Construction Loans
- North Dakota ALF Refinancing Options
- Apply for North Dakota ALF Financing
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Start Your Project Today →Disclaimer: These case studies are for illustrative purposes only. Actual results vary based on individual circumstances. All financing provided by Jaken Finance Group, subject to approval.