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22nd August 2019

Kare Plus secures £910,000 loan from Maven to expand care network

Nursing and Healthcare recruitment specialist will use the business loan to expand care sites across the West and East Midlands.

Kare Plus National Limited has received a £910,000 loan from MEIF Maven WM Debt Finance, part of the Midlands Engine Investment Fund.

Kare Plus delivers care and support services through residential establishments including large private hospitals, local councils and to private clients within their own homes, providing them with medical and care services. The funding package will allow the firm to expand its network of care facilities across the Midlands and also bolster its homecare services. It is also expected to create 20 new jobs.

Kare Plus also provides temporary and permanent clinical staffing solutions to the private and public health and social care sectors. CEO, Steve Welsh, was originally a franchisee who purchased Kare Plus in 2010.

Steve Welsh CEO at Kare Plus said; “The MEIF Maven WM Debt Finance will assist in the growth of our homecare services, which will continue to expand and develop alongside our national network of franchise businesses. Our focus is the delivery of outstanding nursing, care and support to local communities, nationally and we look forward to continuing to do just that.”

Raj Minhas, Investment Manager at Maven Capital Partners, said, “Kare Plus is an established business with ambitious growth plans to expand the business and create new jobs in the region. We are delighted to have provided the management team with this loan facility from the MEIF Maven WM Debt Fund to help propel their growth journey.”

Grant Peggie, Director at the British Business Bank, said, “The Midlands Engine Investment Fund seeks to boost growth in smaller businesses across the region with finance to support new jobs and expansion. Funding such as this, highlights the important role of external finance as well as the positive impact the MEIF is having on Midlands businesses. We would encourage other small businesses seeking to grow to see what funding support is available from MEIF.”

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

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Follow @midsenginv


Worcestershire-based @RapidRetail has secured £98k from @B_C_R_S through the #MEIF in conjunction with #CBILS.

The finance boost will help the firm, which supplies modular retail units, to fulfil orders and protect jobs.

Read more in @insiderwestmids: https://t.co/9ANR7Ho2Kn https://t.co/DdPkIEmVqg
MidsEngInv photo

#MEIF finance can be used to support buying machinery, hiring staff or expanding into new markets. A recent Early Assessment Report found that the Fund’s investment was enabling more businesses to export abroad.

Read the full report here: https://t.co/husSGZCYQu https://t.co/m3PNR6Jf0K
MidsEngInv photo

We have launched a #MEIF LinkedIn. Follow the page for the latest investment news, Fund information and support on accessing finance: https://t.co/mhwkGSoAcr https://t.co/JOSv8rnRAQ MidsEngInv photo

The @BritishBBank’s Coronavirus Business Interruption Loan Scheme is available to SMEs disrupted by COVID-19. #MEIF fund managers @B_C_R_S, @FinanceSE and @1st_Enterprise join partners providing up to £5m to UK SMEs.

Find out more about #CBILS: https://t.co/2xEu9sVTmd https://t.co/7PDOSn4uUl
MidsEngInv photo

#MEIF Proof-of-Concept equity funding can help you get an idea off the ground and realise your business dream. Available via our fund manager @Mercia_PLC, find out more about this funding type here: https://t.co/mQ2yg2P91L https://t.co/zO1eTqSEvc MidsEngInv photo

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