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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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Are you new to the @BritishBBank’s #MEIF? For clear information on the finance available through the Fund please visit our Quick Reference Guide here: https://t.co/SDilCE6y9Q https://t.co/cjEwnvR6n9 MidsEngInv photo

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Follow @midsenginv

Are you looking to secure business finance?

For information on what investment type is suited to your firm's needs, visit the @BritishBBank’s Business Finance Guide here: https://t.co/u5u3LyQcif https://t.co/LcHCDyt0kJ
MidsEngInv photo

Stay up to date with the latest #MEIF investments and fund announcements by visiting our news page here: https://t.co/8KEIg61nsB https://t.co/UyLelZ6LAM MidsEngInv photo

Are you new to the @BritishBBank’s #MEIF? For clear information on the finance available through the Fund please visit our Quick Reference Guide here: https://t.co/SDilCE6y9Q https://t.co/cjEwnvR6n9 MidsEngInv photo

The #MEIF is now on LinkedIn. Follow us for the latest investment news, fund updates and information on securing external finance.

Connect here: https://t.co/mhwkGSoAcr https://t.co/VXP3Zc0pJ0
MidsEngInv photo

#MEIF Small Business Loans are available for a wide range of purposes including filling gaps in growth capital, funding new projects or purchasing equipment.

Connect with our fund managers @B_C_R_S and @1st_Enterprise and access more information here: https://t.co/FMbFV547x6 https://t.co/hnbIVDvsgI
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