The Western Australian (WA) Government aims to improve access to high-quality residential aged care for older Western Australians with the launch of the $100 million Aged Care Low Interest Loan Scheme (Loan Scheme).
Administered by the Department of Energy and Economic Diversification and the Department of Health, the Loan Scheme will offer competitive loans at an interest rate lower than the current rate available through commercial lending mechanisms.
This will enable aged care providers to build, expand, or refurbish facilities across the State, with a focus on concessional/supported residential aged care beds.
By improving access to affordable finance, the Loan Scheme will enable aged care providers to increase concessional/supported bed capacity through improved infrastructure and enhance care for vulnerable groups within the state.
The Loan Scheme also aims to reduce pressure on hospital services by supporting safe transitions into purpose-built aged care beds, ensuring older Western Australians have timely access to aged care services.
Beyond improving access, the Loan Scheme represents a strategic investment in the sector’s future, strengthening sustainability to meet an ageing population, creating jobs, and delivering broader economic benefits for WA.
Eligible providers are encouraged to apply for concessional loans with successful applicants able to receive up to $20 million funding in value to address barriers to seeking commercial finance and fast track capital projects.
To apply now or learn more about, visit the Aged Care Low Interest Loan Scheme webpage.
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