Focus on Finance: Affording Care with Bridge Loans

Jun 28, 2021

If there is a sudden health-related event that forces a move for your loved one into a senior living community, time is of the essence in figuring out ways to meet the financial obligations. It is common for families to struggle with the upfront costs and be unprepared for move-in fees, monthly rent, and costs associated with making this move.

One resource you can consider is using a bridge loan which provides access to the needed funds quickly so that you can get the senior living lifestyle your loved one wants and deserves.

Our national operator, Meridian Senior Living has partnered with Elderlife Financial in providing the Elderlife Bridge Loan which is a financial bridge, allowing you to pay for care now while waiting on permanent funding.

When approved for a bridge loan, funds can be disbursed within 24 hours, which can help ease the burden on a family navigating difficult decisions.

The borrowed funds can be paid back in just a few months or a little over a year, whenever the family funds that were previously tied up become available. Examples include receiving the proceeds from selling a home, liquidating retirement assets, or receiving the retroactive check from VA Benefits.

To learn more about other resources to affording care, call us today. We are here for you!