Nobody has ever said opening an assisted living community is easy, but that doesn’t mean you have to do it all on your own.
Whether you’re just starting in the senior living industry or looking to expand your company to include multiple locations, it’s important to know where you can find financial support when you need it. While many of us may turn to loans and investors to achieve our dreams, federal and state-level grants can also provide an extra push to finally open your doors.
Today, we’ll look at what you can expect from the grant process as well as list a few different grants you could apply for right now to help open your assisted living community.
Of course, managing your community’s development is a time consuming and exhausting process, especially on your own. Distinctive Living can help ease your stress and provide resources to ensure your community is the elegant, comfortable, and relaxing experience you’ve always dreamt about.
To learn more about how we can help you, feel free to contact our team today.
A Note on The Grant Process
Finding grants can take a lot of time and paperwork, and no 2 grant processes are ever the same, either. Some may be a simple and straight-forward application process, but others might require multiple interviews and possibly a look into your services and business plan before they will provide funding.
So before you start diving into the world of government grants, there are a few questions you should figure out answers to to help increase your chance of success:
Where Do You Need Funding?
Where do you need help the most? How much funding do you think you’ll need? Will you need help funding your staff or will you try to focus on providing updated amenities and features?
These are the questions you’re going to need to ask yourself before you start applying for grants. Federal and state-level grant organizations do a lot of work to ensure their money is used ethically and responsibly, so it’s absolutely essential to know how you will be spending your grant money before you start applying for them.
Are You a Non-Profit or For-Profit Organization?
Being a non-profit or a for-profit organization makes a world of difference when it comes to grant applications. It’s pretty common to see more grants geared towards the non-profit sector, but some of these organizations may also offer grants for for-profit entities based on certain criteria.
Even if you find a grant specifically for a non-profit organization, spend some time checking out their website to see if they might offer different grants that may be more applicable to you and your business.
We also recommend calling your local government agencies, both federal and state, to see if they might have information on potential grant opportunities.
Do You Qualify for Minority or Community Organization Grants?
There are numerous types of grants available for minority business owners or businesses focusing on serving community interests, like supporting veterans. Even if the grant isn’t specifically intended for the senior living industry, you could still apply for grants that help minority groups start their own businesses.
Know Your Eligibility
Applying for grants can be a time-consuming and tedious process, especially if you keep getting rejection letter after rejection letter. To make sure your time and resources are used conservatively, always read every detail about your grant before you apply.
Even if it might seem like the grant is applicable to you, there are numerous factors that can affect your eligibility. In some cases, high competition for grants can also affect how likely it will be to get approval.
Where to Find Grants
Now that we’ve gone over some of the things you should keep in mind when you apply, let’s look at some of the best places to look for grants to help open your assisted living community. For starters, we recommend looking at:
These websites are fantastic resources for people looking to apply for various types of grants, and they offer comprehensive search tools to make the process easier, especially www.grants.gov.
It’s important to note that grants are always changing, and after their application deadline passes, there might not be an opportunity to apply for it ever again. Please check grant resources regularly to see if there are new opportunities applicable to your business. Below are some examples of grants related to assisted living. These grants have expired but they can help to give you an idea of what to look for:
- National Transportation Accessibility Center – This grant is designed to help caregiving communities fund accessibility initiatives like transportation and disability-friendly websites and apps.
- Strengthening the Direct Care Workforce: A Technical Assistance and Capacity Building Initiative – This grant is designed to help attract highly qualified caregivers and support your workforce.
- Alzheimer’s Disease Programs Initiative (ADPI) – This grant can help fund caregiving communities who offer memory support programs to people affected by dementia and Alzheimer’s disease.
Need Help Opening Your Community? We’re Here for You.
If you need help getting your assisted living community off the ground, call the team at Distinctive Living today to learn more about our services and how we can support you.