Vets secure backing to drive growth, create jobs, and expand animal care
A North Yorkshire-based veterinary practice has secured £90,000 from NPIF II – BEF, which is managed by Business Enterprise Fund (BEF) as part of the Northern Powerhouse Investment Fund II (NPIF II).
The funding also came from BEF’s Community Investment Enterprise Fund 2 (CIEF2) backed by Lloyds Bank and Better Society Capital.
Founded by experienced veterinary surgeon Laura Keyser in January 2024, Claro Hill Vets delivers a full range of small animal care services, from vaccinations and dental care to nutrition and advanced diagnostics.
The business services clients in Harrogate, Wetherby, North Leeds and surrounding areas.
Operating from a purpose-built facility, the practice is equipped with three consulting rooms, two sterile operating theatres, a dental suite, digital x-ray, an in-house Idexx laboratory, and a cutting-edge CT scanner.
When unforeseen circumstances led to cost overruns during the facility’s development, the practice faced potential cashflow challenges.
To navigate this, Keyser turned to BEF for support, securing an NPIF II – BEF Smaller Loan alongside a £25,000 Start Up Loan provided by BEF in June 2024.
The £90,000 NPIF II funding not only provided crucial working capital but also enabled the creation of four new jobs while protecting seven existing roles.
With cashflow stabilised, Claro Hill Vets is now focused on expanding its client base, aligned with its goal of reaching over £500,000 in turnover in its first year of operations.
Claro Hill Vets is one of the first businesses in North Yorkshire to benefit from a NPIF II Smaller Loan since the launch of the £660m fund in March 2024.
The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25,000 to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
Keyser, director at Claro Hill Vets, said: “We’re incredibly grateful for the support we’ve received from BEF and the NPIF II fund.
“This funding has been instrumental in allowing us to overcome early financial challenges and focus on delivering the high level of care we’re passionate about.
“With our state-of-the-art facility, we’re excited to expand our services and grow our team, all while continuing to serve the communities of Harrogate and beyond.
“Our goal is to not only meet the rising demand for small animal care but to set new standards in veterinary services.”
Mark Iley, senior investment manager at BEF, said: “We are happy to support Claro Hill Vets as they embark on this exciting phase of growth.
“Laura and her team have created a truly impressive facility with cutting-edge technology and a commitment to high-quality care.
“By providing this funding, we’re not only helping them stabilise their operations but also enabling future growth and job creation in the local community.
“We’re excited for this round of funding to play a role in aiding her vet practice to reach its ambitious growth targets.
Lizzy Upton, senior manager at British Business Bank, added: “It’s great to see entrepreneurs like Laura start their own business after years of working in industry, and the funding shows how external finance can enable faster growth.
“Supporting businesses like Claro Hill Vets is at the heart of what the Northern Powerhouse Investment Fund II is designed to achieve – unlocking opportunities and driving sustainable economic growth across the North.”
