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Your community can benefit from a relationship with Elderlife Financial today. If you would like to add your community to our network for the Elderlife Line of Credit for Senior Living,
you may download our Partner Application and Agreement for review and execution.
If you have any questions or issues with the forms, feel free to call toll free 1-855-231-6326 and one of our Partner Relations specialists will assist you.
If you are interested in our complete Financial Concierge Services, call us today.
Elderlife Financial Services has established relationships with some of the nation's premier senior living communities. We share their mission to improve access to senior living, improving the quality of life for thousands of seniors and their families. We currently offer two products that will align with the goals and objectives of quality senior living communities and CCRCs across the country:
Line of Credit for Senior Living
Our flagship product, Elderlife Line of Credit, helps families overcome one of the two major concerns facing families when considering senior living... "How can we afford it?"
Elderlife Lines of Credit are specifically designed to help qualified families afford senior living for their loved ones. Communities that offer our Elderlife Line of Credit product can significantly increase their occupancy through additional move-ins, reduction of move-outs due to financial reasons, and reduction of potential past due accounts.
Elderlife Line of Credit is an interest only loan, with an affordable payment schedule, no prepayment penalty and the flexibility to have multiple family members participate in the line of credit. Payments go directly to the senior living community.
Elderlife selects senior living organizations who share our passion for serving families who care for their seniors. Together, we work to offer Elderlife Lines of Credit to qualified residents and their families who seek senior living and assisted living. To maintain our quality and support standards, we only offer our program to senior living communities within our network. By joining the Elderlife network and becoming a member, you receive the following benefits:
Member Benefits:
- Dedicated support from a Relationship Manager who understands the challenges and opportunities of the senior housing industry.
- Support to assist your facilities with marketing and sales efforts.
- Marketing collateral provided free-of-charge.
- Extensive training program and materials at implementation and ongoing.
- Coordinated local community marketing efforts and co-op advertising programs.
- Ability to offer the program nationally.
Financial Concierge Services
Our CCRC product, the Financial Concierge Services or Financial Concierge Services, addresses the challenges of the initial move to a CCRC. For seniors, a vast majority of their wealth is in real estate, making their equity "trapped," and requiring them to search for financing alternatives for the CCRC entrance fee. Often forced to await the sale of their home before paying the fees, seniors and communities are both seeking solutions to bridge the gap to occupancy. The Financial Concierge Services helps assure financing for the entrance fee, solving the problems of both parties.
The financial product - a secured bridge loan - is offered through a banking partner hand selected by Elderlife. Elderlife screens wealth management/private banking units to identify partners with credibility in the market, a "long-term" vision for serving the growing demographic segment and the interest in becoming a trusted advisor.
CCRCs benefit from the full-service nature of the Financial Concierge Services. Elderlife Financial serves as the hub and the Financial Concierge for all Financial Concierge Services activities. Working with the CCRC, Elderlife becomes an extension of the community's sales and marketing staff, and a resource for the prospective resident. Elderlife provides support and coordination to the compliance department within the bank. With the community's objectives in mind and as an advocate for the senior, Elderlife leverages the banking relationships to assure a high-quality, high-touch experience for the prospective resident.
Interested CCRCs must apply to participate in the Financial Concierge Services. Member CCRCs will have the following benefits:
- Community-customized marketing and communication tools in support of the Financial Concierge Services.
- A Wealth Management/Private Banking group to provide the "bridge financing" solution.
- An Elderlife Relationship Manager to provide a resource for prospective residents, and to coordinate loan activities with a bank's Private Banker.
- A hub to facilitate communication to and from the community, bank and prospective resident.
- Monthly management reports.
The Elderlife Financial team provides an initial strategic session for the community to help integrate the Financial Concierge Services program into the sales and marketing plan. Community-specific collateral materials are developed. Training and education related to the Financial Concierge Services program is provided both as transitional support as well as an ongoing resource. And the Relationship Manager remains a consistent part of the team.
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