West Midlands based specialist adult care provider secures £5m funding package
Select Lifestyles Ltd, has been granted a £5m refinance package through ThinCats, the leading alternative finance provider for mid-sized SMEs in the UK.
Since opening its first service in 2007, Select Lifestyles now provides supportive services for adults with learning disabilities and complex care needs across 25 sites. The funding will support its ambitious growth plans and will be used to further improve the facilities at its supported living accommodation, shared housing, respite services and day opportunities.
ThinCats created a bespoke funding solution for Select Lifestyles that will allow it to continue to grow and bring its plans to fruition.
Nick Horton, MD of Select Lifestyles Ltd said, “The team at ThinCats went above and beyond to discover the real workings of our business and have been really supportive of our strategy to help build our community. Securing this funding will allow us to further improve our facilities for our service users and will put our growth back on track.”
Richard Henshaw, director at National Development Healthcare, ThinCats said, “I have seen first-hand the problems that SMEs like Select Lifestyles can have accessing funding through traditional channels. I am delighted that ThinCats is able to look at each application on its own merits and provide a finance package that suits the needs of the individual business.”
The funding opportunity was introduced to Select Lifestyles through Derby based specialist financial broker, Mike Gascoigne, at Midlands Asset Finance. He said, “MAF Healthcare is delighted to have advised on this transaction, working closely with a great operator and a forward-thinking lender in Thincats. Select Lifestyles provides excellent support for vulnerable adults in the community and is well placed to continue this essential service and create additional facilities in the coming years.’’