Guildford based Geoghegan Group has secured £13m in funding from the Clydesdale Bank for the development of a new care home.
The new 57-bed home in Woking will be built on the site of an existing 39-bed facility.
Geoghegan Group Director, Charles Geoghegan, said: “The finance package that we have received from Clydesdale Bank underlines their willingness to look at different types of projects and find bespoke funding solutions for their clients. The expert support they offer is what attracted us to them and we are already working closely with them to progress our exciting project.”
The development will involve the addition of 20 new staff to the group taking its local workforce to 80.
Johnny Rowe, Health and Social Care Director, Clydesdale Bank said: “Charles and his team have shown great determination and vision to build this successful family business and a huge part of that success is their commitment to their residents and providing the highest quality of care. Over the next three years we’re making £6 billion of lending available to businesses around the country to support the growth ambitions of businesses like the Geoghegan Group.”
The broker for the deal was Chris Babington from Hervines Capital.