Jimmy Johns, associate director at specialist commercial broker Christie Finance, looks at the impact of Covid-19 on the availability of funding within the care sector.
Those two formidable words, ‘unprecedented times’, repeatedly used as an explanation for daily life in the midst of Covid-19 and the words that will always be remembered, but hopefully the effects will not.
Supporting clients in the care home sector has always been problematic for most lenders. Many do not understand the market and consider the reputational risk and regulations too great a risk to even get involved, with a prevailing attitude to only support the ‘best-in-class’ providers.
However, some things remains clear. We are living in an ageing population, the demand for elderly and specialist care will not decline, it will increase at a tremendous rate with the UK population continuing to live longer, which therefore makes it an incredibly important sector to finance.
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