Castlemeadow Care wins funding for new East Anglia care home
Cynergy Bank has provided £18m in funding to enable Castlemeadow Care to refinance existing sites and build a new 60+ bed care home
A family-owned care home business is expanding its operations in East Anglia thanks to £18m in funding from Cynergy Bank. Castlemeadow Care will use this loan to refinance existing sites in Kings Lynn and Long Stratton, as well as funding a new 60+ bed care home.
Sanjay Kaushal, a director and founder of Castlemeadow Care comments: “We are pleased to have achieved this significant milestone in our journey towards expanding quality care for our community. Thanks to funding from Cynergy Bank, we are building a new care home as part of a large care village complex, which marks a new chapter in our commitment to providing exceptional care and support for our senior residents. We look forward to enhancing the lives of many more individuals with our state-of-the-art facilities and compassionate care.”
Castlemeadow Care offers specialist care, support, and high-quality care homes and assisted living residences. This latest development advocates the UK’s need for more care facilities at a time when many are closing.
The loan from Cynergy Bank benefits Castlemeadow Care by not only enabling it to build new nursing and retirement facilities, but also in the refinancing of its existing properties to ensure they maintain the excellent standard of care that Castlemeadow Care is known for. The company’s expansion will allow for over 60 additional individuals to be supported by dedicated staff and provide brand new spaces and resources for residents to explore their hobbies and passions – something that Castlemeadow Care strives to prioritise.
Dan Hewitt, healthcare director at Cynergy Bank adds: “We’re delighted to welcome Castlemeadow Care as a new customer. This marks another successful deal for Cynergy Bank within the social care sector, and we are proud and committed to serving the funding needs of SMEs for such an essential and important industry in the UK.”