Home Health Care Agencies Funding

Canada's over-65 population is projected to grow by 68% in the next 20 years. Provide your patients with the best care and help grow and maintain a healthy home health care agency with up to $500,0000 in funding from Greenbox Capital® as fast as 24 hours.
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Fast Home Health Care Funding You Can Trust

Home health care services allow seniors to age in place rather than moving to a nursing home or long-term care facility. The home health care industry in Canada is forecast to grow substantially over the next several years thanks to a number of factors, including an aging population and advances in technology.

Home health care providers are ideal candidates for traditional funding like Canada Small Business Financing Program loans because they are always in demand and have a reliable income. However, the application process for this program and other commercial lenderscan last months, and there’s no guarantee of approval. While you’re waiting, your patients may suffer and valuable opportunities for growth can be lost.

As an alternative lender, Greenbox Capital® can approve more home health care agency funding than traditional lenders, and we can approve funding faster, with funds deposited in as little as one business day. We provide multiple types of home health care funding to help grow your agency, with funding from as low as $3,000 up to $500,000 and no restrictions on how you can use your funds. We fund all home health care agencies, including non-medical home care, hospice care, senior care, personal care services, and more.

Home Health Care Funding Rates

Home health care agency funding rates depend on the type of alternative small business funding you receive. Most alternative home care funding options use a factor rate instead of a traditional interest rate. Factor rates are simple decimal figures that show how much “extra” you will owe on the original amount of the loan, and are determined based on your risk assessment.

Home Health Care Agency Funding Solutions in Canada

Our friendly, expert funding advisors will work with you to determine which funding option will help you achieve your goals without compromising your business’s cash flow.

How To Use Home Health Care Funding

There are no restrictions in place on how you can use your funds. Home health care funding is ideal for supporting your business’ revenue, furthering your commitment to the community, and helping more patients. Use your funding to:

  • Develop or enhance services
  • Purchase equipment and devices to help patients and caregivers communicate
  • Hire and train staff to provide high-quality care
  • Expand your geographic reach by increasing your marketing efforts
  • Hiring additional personnel in new areas of operation
  • Obtain proper licenses and certifications
  • Develop an online booking system that can be accessed at any time
  • Increase your advertising to bring in more patients

Sometimes, home health care agencies need a quick infusion of working capital to help meet the unique challenges of their field, such as:

  • Covering unexpected expenses
  • Compliance with provincial and federal regulations
  • Managing cash flow and payroll
  • Seasonal fluctuations or unanticipated expenses
  • Delayed or denied insurance claims
  • High cost of medical equipment, technology, and supplies
  • Upgrading equipment and training required to keep up with changing standards

How Home Health Care Funding Works

  • 1
    Apply

    Gather 3 months of bank statements and other records. For faster approval, grant us secure access to your bank account’s transactional data.

  • 2
    Choose Funding

    A Funding Advisor will reach out to you within 1 hour (during regular business hours) to complete your application & discuss your funding options.

  • 3
    Get Funded

    Once you and your Funding Advisor determine what funding option works for your business, your funds can be approved and deposited within 24 hours.

  • 4
    Set Repayment

    Payments will be automatically deducted from your business’s daily or weekly debit and credit card sales. Payment amounts will be based on your sales.

Will You Qualify for Home Health Care Funding?

Exact qualification requirements depend on the type of home health care agency funding you are seeking. Approval for home health care funding from Greenbox Capital isn’t based solely on your credit score or financial history. We focus on the overall health of your business, including:

  • Business revenue
  • Cash flow
  • Vendor payment history
  • Years in business
  • Public records

Home Health Care Funding Q & A

How can I get funding for a home health care agency?

You can get funding for a home health care agency from traditional lenders like federal funding programs or a bank, as well as from alternative lenders like Greenbox Capital. Alternative lenders have more flexible approval requirements that consider the overall health and potential of your business—not just your credit score—and offer revenue-based financing options that are more ideal for businesses with lower credit scores, such as merchant cash advances. Contact one of our Funding Advisors to learn more.

Retention and recruitment of staff and nurses are one of the biggest challenges my home health care agency faces. Could I use my funds to hire more staff?

Hiring more staff is a great way to utilize your home health care agency funding.

Why should I consider an alternative lender for my home health care agency?

Traditional lenders can take weeks or months to review and approve your loan application. If you’re looking for a way to streamline your cash flow, as an alternative lender, we have different approval requirements and can approve funding for a home health care agency. We can provide you with the funds you need to cover project expenses, operating costs, and more, often in less than 24 hours.

What are the typical uses of funding for a home health care agency?

There are many ways you could use your funding. Some uses of funding for a home health care agency could include covering the costs of providing care to patients, which can include things like wages for caregivers, equipment and supplies, and other operating expenses. Additionally, funds may also be set aside for marketing and advertising, as well as for training and professional development opportunities for staff members. Ultimately, how the funding is used will depend on the specific needs and goals of the agency. Make sure to consult with one of our Funding Advisors to ensure you are using your funding in the most efficient and effective way possible.

Are there any restrictions on how the funds can be used?

There are no restrictions on how your funds can be used. We have a very simple application process, with same-day funding available. To get started, fill out our one-page application form or speak with a Funding Advisor.

Which type of funding is best for a home health care agency?

A merchant cash advance is one of our popular funding options. We recommend you speak with one of our knowledgeable Funding Advisors—they can help you explore all of the available funding solutions for your business.