Family-owned Castlemeadow Care is expanding its operations in East Anglia thanks to £18m in funding from Cynergy Bank.
The loan will be used to refinance the provider’s existing sites in Kings Lynn and Long Stratton, as well as fund a new 60+ bed care home care home in East Anglia.
The Cynergy Bank loan will enable Castlemeadow to build new nursing and retirement facilities as well as refinance its existing properties to ensure they maintain an excellent standard of care. Castlemeadow Care’s expansion will allow the provider to support over 60 additional residents.
Sanjay Kaushal, director and founder of Castlemeadow Care, said: “We are pleased to announce 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.”
Dan Hewitt, healthcare director, Cynergy Bank commented: “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.”
