Care provider secures £5m refinancing package

Oldbury-based Select Lifestyles has landed a £5m refinance package through alternative finance lender ThinCats.

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 growth plans and will be used to further improve the facilities at its supported living accommodation, shared housing, respite services and day opportunities.

Nick Horton, managing director of Select Lifestyles 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 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.”