When a person needs senior care services, the transition may be immediate. If you have unexpected and immediate expenses, a personal loan can help.
People may need quick access to money to fund an emergency, life change, or other larger personal expenses. When other funding options are exhausted or not available, people can turn to a personal loan. Older adults or their family members can use a personal loan to pay for senior care expenses when other funding sources are not readily available.
To secure a personal loan, an individual may borrow money from a financial institution. The borrowers repay the lender over a timeframe agreed upon by the borrower and lender. The repayments are usually due in monthly installments and cover the principle, which is the dollar amount borrowed, and interest.
Using a personal loan for senior care
Many factors may influence why an individual or a family obtains a personal loan for senior care. An older family member may need to move to an assisted living community or nursing home, and the funds may not be available to pay for the care. A personal loan can pay the costs, and the adult or family can repay the loan over time.
When a personal loan is the best option for paying for senior care, choosing the right lender and finding a loan can be complex. There are many financial institutions that offer personal loans, and contacting multiple lenders to do research can be a time-consuming task. ElderLife Financial Services simplifies the process for people who need a loan to fund senior care.
ElderLife Financial Services’ personal loans
An older adult and their family who need a personal loan for senior care can work with ElderLife Financial services to find the right loan easily. When completing one application, families receive loan multiple loan offers. ElderLife Financial Services discusses the loan offers with the family to determine which best meets their needs.
What is the loan application process with ElderLife Financial services?
Contact ElderLife Financial Services. A person or family seeking a loan can contact ElderLife Financial Services or submit an inquiry online. ElderLife Financial Services’ partners Access Financing contacts the applicant to help them through the application process.
Receive loan offers. ElderLife Financial Services partners with four national lenders and processes the application with each lender. Then, ElderLife Financial Services reviews the offers and discusses them with the family, recommending the loan that will best meet their needs.
Receive loan funds. With ElderLife Financial Services, loan funds move quickly. Families who are approved can receive the loan funds as soon as the next day.
When it’s time to pay for senior care, you may have questions about how to fund the help you or a family member needs. Contact ElderLife Financial Services to learn how a personal loan can help you secure the care you need.
