December 2, 2021
Lisa Levin, CEO of AdvantAge Ontario, released the following statement on the Ontario government’s announcement today of loan guarantees for not-for-profit LTC homes:
“Today’s announcement is a game changer for the not-for-profit long-term care sector. It will result in financing assistance for hundreds of not-for-profit homes, meaning thousands more beds and better care for Ontario seniors.
AdvantAge Ontario members have long identified the need for low-cost guaranteed loans. We put forward this solution to government and are truly thrilled that Minister Phillips and the Ontario government has listened. This is a big win for a member-generated idea.
Thank you as well to government for visiting The Rekai Centres and standing with its CEO and AdvantAge Ontario Vice Chair, Sue Graham-Nutter, this morning to make the announcement. The Rekai Centres is just one of the Association’s many members that will benefit from this new policy.
More than two-thirds of Ontarians, or 68 per cent, make not-for-profit homes and municipally-owned homes their first choice for long-term care. That’s because there’s a difference to not-for-profit homes, which reinvest all surplus funds into resident care and operations.
This announcement honours people’s preference and respects the not-for-profit difference. We want to thank Minister Phillips, Premier Ford and the entire Ontario government.”
About AdvantAge Ontario
AdvantAge Ontario has been the trusted voice for not-for-profit senior care for over 100 years and is the only provincial association representing the full spectrum of the senior care continuum. Our more than 400 members are located across the province and include not-for-profit, charitable, and municipal long-term care homes, seniors’ housing, assisted living in supportive housing and community service agencies.
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Senior Director, Corporate and Public Affairs
W: 905.851.8821 x 233
Manager, Communications and Member Services
W: 905.851.8821 x 253