Tailored Unsecured Loan Supports Care Home Renovation

“Tom was instrumental in getting the deal over the line and I have since picked up the phone numerous times to discuss new opportunities. Tom is always available to take a call and has a real desire to help.” Gareth Williams, Commercial Director – HH Business Finance

When a care home operator approached HH Business Finance seeking an unsecured loan for a comprehensive refurbishment project, Commercial Director Gareth Williams knew that Momenta Finance would be the ideal lending partner. This case study demonstrates how Momenta Finance’s flexible approach and commitment to understanding client needs can provide crucial support to businesses in the healthcare sector.

The Client

The client is an established care home operator looking to upgrade their facilities to enhance the quality of care and improve the living environment for their residents.

The care home required significant funding for a full refurbishment, including:

• £150,000 for comprehensive refurbishment works and fit-out
• £100,000 for new furniture and fittings

The challenge was to secure funding that would allow the care home to undertake these improvements without compromising their cash flow or requiring them to provide security against their assets.

Momenta Finance’s Solution

Momenta Finance provided a tailored unsecured business loan with the following terms:

• Loan Amount: £250,000
• Loan Term: 36 months
• Loan Type: Unsecured Business Loan

Advantages of the Unsecured Loan

1. PG Backed Loan: The care home could access substantial funding without putting its property or other assets at risk.
2. Flexible Use of Funds: The loan covered the refurbishment works and the purchase of new furniture and fittings.
3. Extended Repayment Term: The 36-month term allowed the care home to spread the cost of the improvements, making repayments more manageable

The Outcome

Thanks to the unsecured loan from Momenta Finance, the care home was able to complete a comprehensive refurbishment of its facilities, creating a more modern and comfortable environment for residents. The funding allowed for significant upgrades to both the physical structure and the interior design, which enhanced the quality of life for residents and improved the workplace for staff.

Additionally, the investment in new furniture and fittings contributed to a welcoming atmosphere, making the care home more attractive to prospective residents and their families. This not only helped to retain current residents but also positioned the care home to potentially increase its capacity and revenue by appealing to a broader clientele.

Overall, the successful execution of this project marked a significant step forward for the care home, reinforcing its commitment to providing high-quality care in an inviting setting.

The Broker’s Perspective

Gareth Williams, Commercial Director at HH Business Finance, commented on the collaboration with Momenta Finance:
“Tom was instrumental in getting the deal over the line and I have since picked up the phone numerous times to discuss new opportunities. Tom is always available to take a call and has a real desire to help.”

This testimonial highlights the strong working relationship between Momenta Finance and its broker partners, as well as the dedication of the Momenta team to finding solutions for clients.

Conclusion

This case study demonstrates Momenta Finance’s ability to provide tailored financial solutions to businesses in the healthcare sector. By offering an unsecured loan with flexible terms, Momenta enabled a care home to undertake significant improvements without compromising its financial stability.

About HH Business Finance

Founded in 2020, HH Business Finance emerged to revolutionise the business finance market, leveraging its deep industry roots in order to simplify access to finance for SMEs across the UK. No longer will you spend weeks searching for the right funding or wade through complex applications with non-existent bank managers, their streamlined process is designed to be quick and friendly.

They have over 100 years of experience in offering business finance to UK customers and pride themselves on finding the right solutions for you. We make the whole process simple, friendly and personal.