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UK care homes face funding crisis as banks refuse loans

Providers say lenders have ‘no appetite’ for industry battered by Covid and staff crisis

Care homes are facing a credit crunch with banks refusing to lend money or provide new services for fear that the care sector is about to crumble, senior care leaders have warned.

A survey of care providers in Hampshire found that 20% had been told their bank was concerned about their long-term viability. Several reported that their bank said they had “no appetite for the care industry” and had refused basic services such as additional accounts.

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Read the original article at The Guardian

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