Funding to support care group’s expansion

Steve Welsh, chief executive at Kare Plus

A care business has secured a £910,000 loan from the Midlands Engine Investment Fund (MEIF) to support its expansion.

Kare Plus National is planning to create 20 jobs as it increases its network of care facilities across the Midlands and also bolster its homecare services. The Telford-based business is part of a £15m-turnover group.

By 2024 one-in-five of the population are expected to be over 65 and there is expected to be a sustained increase in the demand for elderly care.

Chief executive Steve Welsh, who has owned Kare Plus since 2010, said: “The MEIF Maven WM Debt Finance will assist in the growth of our homecare services, which will continue to expand and develop alongside our national network of franchise businesses.

“Our focus is the delivery of outstanding nursing, care and support to local communities, nationally and we look forward to continuing to do just that.”

The loan has come from the debt finance fund operated by Maven as part of the £250m MEIF.

Raj Minhas, investment manager at Maven Capital Partners, added: “Kare Plus is an established business with ambitious growth plans to expand the business and create new jobs in the region.”

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