When navigating challenging waters, it helps to understand what lenders are thinking and looking for in their industry deals.
Jul. 24, 2023
What has changed?
- On average, nurses have seen a 17.3% increase in their hourly wages since 2019 and contract nurses from staffing agencies are even more expensive
- In 2023, increases in occupancy and enhanced Medicaid rates in some states may help improve median operating margins, but skilled nursing facilities may barely break even at 0.6%
Slower turnarounds require due diligence on both sides
Two heads are better than one
- Examine the fundamentals of your business together and determine what financing your lender can support
- Evaluate your projections to ensure they are suitable for the type of financing you seek
- Think creatively about affordable financing options that will address your priorities
All loans and other extensions of credit are subject to prior approval. The CIBC logo is a registered trademark of CIBC, used under license. ©2023 CIBC Bank USA.