The scheme, which will be spread over three storeys, will provide accommodation for residents, with ensuite wet rooms and a range of additional facilities, including private dining areas.
The development loan was agreed on a term of up to 24 months.
The care home is scheduled to be completed at the end of 2022.
The borrower intends to operate the home as part of their wider roll-out strategy of purpose-built care homes across the region.
This latest project brings the number of new care beds Puma has funded in recent years to 1,400, having previously completed facilities for care home developments in Lancashire, Wolverhampton, Merseyside, Manchester and Cumbria.
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Tony Throp, investment director at Puma Property Finance, said: “We are pleased to be working with a new care operator — a family-run business that has developed and operated care homes all around Yorkshire and the North West.
“Their latest scheme will bolster the provision of regional healthcare by offering high quality accommodation to the local residents in Carlisle.”
Puma delivers stretch senior development loans, pre-development bridging for site acquisition and post-development exit finance between £5m and £35m to fund residential, commercial and specialist sector projects, such as hotels, student accommodation, care homes and retirement living.
In 2020, it funded new projects with a total value of over £200m and continues to expand its lending activity in both deal volume and size.