Dental practice secures growth funding from new platform
NN Private, a Birmingham-based dental practice, has received a £50,000 investment from the newly launched Community Investment Enterprise Fund (CIEF) through BCRS Business Loans.
NN Private, which operates three dental practices in Birmingham offering both NHS and private dentistry services, will use the £50,000 loan to acquire an advanced dental laser.
The new technology will provide patients with a pain-free alternative for soft and hard tissue procedures, such as fillings and removing tongue and lip ties.
NN Private owner Dr Naveen Nagarathna said: “The use of dental lasers is at the forefront of modern dentistry as they hold huge benefits to the patient in terms of pain management, faster healing, and better results. We are thrilled that BCRS were able to fund the cost of the new dental laser as it will enable us to provide a wider offering to our patients, increasing revenue and ultimately growing the business.
“We approached alternative mainstream lenders to assist us with our growth plans but the service we received from Louise Armstrong, senior business development manager, and the BCRS team was exceptional, smooth and supported throughout the entire process.”
Launched in March and supported by Lloyds Bank, the CIEF represents a £62m initiative designed to provide financial support to businesses across the West Midlands and Wales that face challenges accessing traditional sources of finance.
BCRS Business Loans administers the CIEF, offering secure loans ranging from £25,000 to £150,000 to facilitate growth and recovery initiatives.
BCRS Business Loans chief executive Stephen Deakin said: “NN Private is a great example of a thriving business looking to diversify and grow and BCRS Business Loans are thrilled to support them through the new CIEF. We look forward to building on our new relationship with Lloyds Bank and continuing the impact we made with the original CIEF by supporting a diverse range of businesses to grow and increase employment during the first phase of the fund.
“Our investment in NN Private marks a milestone in our commitment to continue to support companies in some of the most economically challenged areas in the country and to bring further positive social impact.”
