Health Care Financing

For more than 25 years, IC Funding Financial Corporation has nurtured and formalized relationships with key decision-makers within a select group of financial institutions that are eager to provide mortgage financing for health care property transactions.

Acquisition of capital for Long Term Care Projects or Retirement Communities requires industry specific expertise and an in-depth understanding of both the real estate and business aspects of each transaction. Our complete understanding of the operations component of health care transactions provides a unique ability to understand and reflect client goals in our lender presentations, resulting in mortgage financing commitments structured for optimum loan amounts, interest rates, terms and conditions.

As an approved CMHC Lender Correspondent, we are experts at understanding and negotiating within CMHC's unique underwriting approach, to each type of health care facility. We have successfully completed construction and take-out financing in excess of $500 million, including 8,000 beds and 5,000 retirement home suites across Ontario over the past 5 years.

For Long-Term Care, and Retirement properties, we provide:

Mortgage Renewal

• An engagement to "shop" your existing financing requirements, including negotiations with your existing lender, ensures that you receive the best possible rate when renewing your mortgage. Existing CMHC mortgages may be transferred to a new "best rate" lender, at no cost. Engage IC Funding to avoid a "choice of one."

Construction and Long Term Permanent Financing

• Our unique two tiered construction and takeout mortgage structure provides a Floating rate "convertible mortgage" during construction, backed by a long term (5 - 20 year) permanent mortgage; a commitment with the "lowest rate" for your short term financing, combined with the "best rate" for your long term mortgage; ultimately, all the flexibility in rates, terms and conditions you need.

• Mining the equity from your existing assets, often is the key to financing the growth of your business. Mortgage commitments are available for new facilities, expansion or redevelopment, on both a conventional and CMHC insured basis.

Long-Term Care Facilities

Allocation of long-term care beds by the Ministry of Health has made lenders aware of the opportunities, as well as the increased complexity of financing these facilities and in particular, the differences in value created by "compliance" funding. With a client oriented approach, we are able to communicate the implications of an "a-c" facility designation and how, through "excellence of management," owners can control costs within the funding envelopes.

Our in-depth understanding of these issues allow us to work closely with owners to address each of these important underwriting issues and prepare complete underwriting brochures which allow our lenders to provide commitments with the very best possible loan amounts, interest rates, terms and conditions; commitments that have been structured for your success.

Retirement Communities

Our significant involvement in financing this industry has provided us specific knowledge and well established operating benchmarks, which allows us to quickly analyze the financial status of an existing facility or forecast the feasibility for a planned development or expansion.

From "zero care" through to "full service" and "assisted living", lenders and CMHC receive our underwriting analysis, projected values and requested loan amounts with credibility for accuracy and reliability of the financial information presented.

• Construction and permanent financing.
• Purchase financing
• Refinance for equity for a planned facility.
• Asset sale

Not-for-Profit Associations

Working with the board and finance committee of non-profit associations, IC Funding Financial Corporation can provide an appropriate construction and long term financing commitment, which recognizes unique value calculations and maximum loan amounts for this ownership group. Negotiating within CMHC underwriting guidelines as an approved CMHC Lender Correspondent, we can create equity transfer capital to facilitate the development or redevelopment of future projects. Our commitments do not require personal covenants and are structured to take into account the specific requirements of your project.