Snowball secures £8.2m refinance deal for Crewe care home
Inspired Life Care, a care home company operating in Cheshire, has secured an £8.2m refinance deal on their new Telford Court specialist care home in Crewe.
The funding package, provided by Yorkshire Bank, was negotiated by Peter Black of Cheshire-based finance company, Snowball Alternative Finance.
Telford Court is an 85-bed care home, specialising in dementia and mental health. The home was developed via an initial funding package, also put together by Black, which consisted of a deal with father and daughter, Chris and Lucy Chawner of Inspired Life, contractor Seddons, and private investors, alongside lending from Yorkshire Bank.
Speaking about the refinance package, director and chairman of Inspired Life Care, Chris Chawner said, “This project has been a long time in the planning. We commenced work on site in 2017 and opened the doors to Telford Court last October.
“The refinance deal will allow Lucy and I to continue with our growth strategy in the coming years.
“Peter Black has been instrumental in making both deals happen and remains closely involved with our business as we look to the future.”
Commenting on the deal, Peter Black said, “I am delighted to have delivered this deal for Chris and Lucy.
“Telford Court is a fantastic and much needed facility and it has been really rewarding to see it come out of the ground and open its doors.”
Helen Miller, commercial relationship manager at Yorkshire Bank, who has worked closely with the business, said: “The Chawner family have proven themselves to be exceptionally capable operators in their industry and we’re proud to support their growth aspirations.
“Our Bank is committed to assisting businesses in the Health and Social Care sector around the UK, who provide crucial services for vulnerable people.”