Aged Care Low Interest Loan Scheme: Application Information

To be considered for financial assistance, the application must meet all of the following components of the eligibility criteria:  

The applicant must: 

• Be a legal entity with an Australian Business Number (ABN) or Australian Company Number (ACN).
• Be a registered residential care provider under the Aged Care Act 2024 (Cth). 
• Be registered for Goods and Services Tax (GST). 
• Be solvent and able to demonstrate financial capacity, including provision of recent financial statements or financial projections. 
• Have no overdue debts to the Australian Taxation Office (ATO) or unpaid superannuation obligations. 
• Be capable of entering into a legally binding Deed of Loan with the WA Government. 
• Declare any other Government funding (Commonwealth, State and Local, Grants, and/or philanthropic arrangements) received or applied for in relation to the project (grants, loans, or other financial support).  

Please note, a Special Purpose Vehicles (SPV) may not be established at the time of the application by the parent 
entity. However, in the instance that a SPV is established and may apply for the purpose of delivering the approved age care infrastructure project, a SPV application must: 

• Hold an ABN or ACN. 
• Be registered for GST. 
• Be solvent and capable of entering into a legally binding Deed of Loan. 
• Be fully supported by a Parent Guarantee from the ultimate aged care provider (or its parent entity). 

The ultimate aged care provider associated with the SPV must be a registered residential care provider under the Aged Care Act 2024 (Cth).

To be eligible, the proposed project must:

• Promote and foster the growth and development of the aged care industry in WA.
• Deliver new, expanded, or refurbished aged care infrastructure that increases the supply of concessional/supported residential aged care places, demonstrating a net increase in places that would not have occurred without Scheme financing, and maintaining that uplift for the duration of the loan.
• Demonstrate an appropriate capital structure for the project, including an equity contribution, an appropriate balance between senior and subordinated debt (where applicable), and subordination of equity to subordinated debt.
• Be completed within the agreed milestone schedule and achieve operational readiness within 48 months from the first loan drawdown.
• Demonstrate commercial readiness and the applicant’s capacity to deliver the proposed project by providing a detailed business plan and supporting evidence (e.g. funding proof, approvals, feasibility studies, letters of support).
• Be delivered either:
  • directly by an eligible aged care provider; or
  • through a SPV established to deliver the project, supported by a Parent Guarantee from the eligible provider or its parent entity. 

The applications will be assessed on whether the proposal loan will achieve the purpose of the Loan Scheme; promote and foster industry growth.

All Loan Scheme applicants must address each assessment criterion outlined in the table below.

Applications that do not respond to all criteria will be considered incomplete and excluded from the shortlisting process.  All information submitted will be used by the Evaluation Panel to determine whether proposed capital projects meet the eligibility requirements.  

The assessment process will be competitive and will consider value for money, cost effectiveness, industry benefits and community benefits. 

All applications must be lodged through the SmartyGrants portal. 

The official receipt date and time will be recorded by the system at the point of submission. 

Applicants are responsible for allowing sufficient time for electronic transmission; incomplete or late applications will not be accepted.

The Department of Health and Department of Energy and Economic Diversification can provide high-level guidance on application requirements prior to lodgement. Enquiries can be directed to doh.lils@health.wa.gov.au. 
 

All timeframes are indicative only and may be subject to change.