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04/06/2013

Micro loan from Finance Wales helps husband and wife partnership expand their business

A Rhyl-based healthcare provider run by a husband and wife partnership is expanding thanks to a micro loan from Finance Wales.

Specialist Healthcare Services provides a range of therapeutic services for private clients as well as for the NHS in North Wales.

Finance Wales’ loan will help the company to purchase new equipment, undertake training and enhance its marketing.

“We’ve developed a reputation for providing effective community-based therapy since we set up the business three years ago. We’ve won some long-term contracts and demand for our services is increasing. We’re keen to expand and the loan from Finance Wales is helping us to do this. Svetlana, our local Finance Wales contact, reviewed our plans with us and progressed our application quickly,” explained Managing Director and Registered Mental Nurse, Scott Graham-Hammons.

Investment Executive, Svetlana Goode said: “Scott and Natalie have established a sustainable business with considerable potential for further growth. Demand for the therapeutic services they provide is set to expand, particularly with the current changes in the health service. They have clear expansion plans and our micro loan has provided the backing they need.”

Finance Wales made the loan from the Wales Micro-business Loan Fund.

£1,000 - £25,000 micro loans are available from Finance Wales from the recently launched £6 million Wales Micro-business Loan Fund as well as the European-backed £150 million Wales JEREMIE Fund.

They can help with a range of investment needs, including start-up costs, capital expenditure and stock purchases. Businesses often use them to unlock much-needed additional investment. Finance Wales has a streamlined application process which ensures it can be responsive to businesses’ needs.

Demand for loans of up to £25,000 more than doubled during the 2012- 13 financial year.