If you’re seeking grant funding to start an assisted living business, there are various grants available that might fit your needs. Most grants require specific criteria like your business scope, prior work experience, and your ability to distribute funds within your organization effectively. Discover the best info about USDA loan criteria.
Contact your local government agency offering services for seniors, and visit the U.S. Small Business Administration’s website, which contains resources to assist small businesses in searching for grants.
Community Development Block Grants (CDBG)
Community Development Block Grants (CDBGs) provide federal funds for projects benefitting low-income individuals and communities, such as housing needs or improving living environments. While these grants typically focus on housing issues, CDBGs also support economic development initiatives like helping people start businesses or enhancing the quality of living environments.
The CDBG program requires cities to meet specific criteria in order to be eligible for funding, including allocating at least 70% of their allocated money towards activities that directly benefit low-income individuals and spending it over one, two, or three years based on national objectives that promote economic opportunities for low- and moderate-income households.
To qualify for the program, an area must show objectively measurable signs of physical deterioration that require immediate action, which must be proven through a rigorous process and documented accordingly. Furthermore, the city must commit to making permanent improvements as soon as possible through activities like clearing land or structures, providing financing to microenterprises, or repairing or upgrading public facilities as quickly as possible; energy conservation activities also fall within this category.
ACCGov serves as the grantee of this program, awarding funds to subrecipients that meet Federal requirements and HUD’s national objectives. All projects must first receive approval by a Board of Trustees before being environmentally approved so funds may be committed.
State Grants
There are numerous government grants available for entrepreneurs looking to open an elderly care business designed to reduce financial strain. They can be used for purchasing equipment and supplies as well as paying staff salaries, funding costs associated with the construction of assisted living facilities, or providing home health care services to elderly or disabled clients.
Assisted living facilities have become an attractive option for older adults in need of daily assistance with daily living tasks, yet many states are having difficulty meeting this rising demand due to poor Medicaid payment rates and enrollment caps for residential care services, as well as budget constraints or waivers limiting their number.
The Shelter Plus Care Grant provides funding to private non-profit organizations for the construction or rehabilitation of supportive housing for people living independently in their own homes, with support services including personal care, meals, housekeeping, and transportation provided through these facilities. The Department of Health and Human Services provides this program.
Nine New York entities have received Shelter Plus Care Grants as part of a statewide initiative that seeks to preserve access to nursing home beds while creating less restrictive alternative levels of care. These projects are expected to save taxpayers $150 million over five years.
Shelter Plus Care (S+C) Grant
This grant program offers rental assistance combined with various supportive services to hard-to-serve homeless individuals with disabilities (typically those suffering from severe mental illness, alcohol or drug dependency issues, or acquired immunodeficiency syndrome/AIDS) and their families. Eligible applicants for the grant include States, local governments, and public housing agencies – each must enter into a contract with building owners for either five or ten years of assistance and provide necessary supportive services that help their clients become self-sufficient.
Grantees must match any rental assistance received through this program with supportive services funded from other Federal, State, and local sources. Furthermore, grantees are subject to HUD-required record-keeping and evaluation processes as well as formalized annual project reviews (APR), including submission of reports detailing progress made toward self-sufficiency among participants.
McKinney-Vento Homeless Assistance Program has been combined with Shelter Plus Care (S+C) and Section 8 Moderate Rehabilitation/Single Room Occupancy (SRO) grants into one competitive funding program referred to as the Continuum of Care (CoC). As part of this new program, S+C grants are no longer open for applications; however, their guidelines and resources can still be used as reference sources. For more information about CoC, visit HUD’s website.
Alzheimer’s Disease Program Initiative Grants
If you have dementia, federal assistance could be available to you. Funds available under these programs may help cover expenses such as housing, food, transportation, and home-delivered meals; personal care services and respite services; as well as state and local programs providing low-cost or free care services that may be found by reaching out to local Alzheimer’s Association chapters or by searching the Community Resource Finder.
The Alzheimer’s Disease Program Initiative Grant allows you to develop and implement innovative programs to assist both people living with dementia and their caregivers. The grants cover an array of activities – such as public safety measures to combat wandering in individuals living with diseases like Alzheimer’s – so as to ensure people with dementia get the care they require.
The Administration for Community Living offers this grant, and to qualify, public or private entities operating programs serving individuals with Alzheimer’s disease and related conditions must apply for this funding opportunity. They must also demonstrate an ability to address three specific gap areas within their program.
This funding program aims to assist communities with filling any gaps in their existing Alzheimer’s-capable long-term services and support system. In contrast to ADSSP grants, this funding program is focused on providing quality person-centered care to people living with dementia.
