A BLETCHLEY care company has been awarded a £16.5million borrowing facility by Clydesdale Bank to fund a new state-of-the-art care home in Peterborough
PJ Care, of Sherwood Drive, will be developing a new 107-bed neurological care home. It has three others.
Andrew Franklin, managing partner of Clydesdale Bank’s Milton Keynes Financial Solutions Centre (FSC), said: “We’re working with a great Milton Keynes business which is renowned as a top class operator in the healthcare sector”.
“It is a mark of the quality of business that within days of our first meeting we were able to issue terms for the new and existing funding requirement as part of our local Investing for Growth strategy.”
Investing for Growth was launched by Clydesdale Bank as a new business support initiative to help successful businesses grow and develop by easing cashflow pressures. The initiative offers both new and existing business customers a dedicated planning service and a more flexible approach to lending.
P J Care is an independent provider of specialist neurological care and neuro-rehabilitation for younger adults (16-65). They care for residents with a wide range of conditions including physical illnesses, restricted mobility and challenging behaviours as a result of organic, degenerative or neurological disorders including; complex frontal lobe dementias like Alzheimer’s and Pick’s Disease; acquired brain injuries; strokes; Huntington’s Disease; Multiple Sclerosis; Parkinson’s; Muscular Dystrophy; and spinal cord injuries, as well as various other progressive terminal illnesses and early onset dementias.
The company operates 3 Care Centres in Milton Keynes (Shenley Lodge and Grange Farm) and in Badby, near Daventry, Northamptonshire and provides residential care (long/short stay, respite and critical care, slow/fast stream rehabilitation and end of life care).
Paul Moran, chief executive of PJ Care, added: “It’s great to get started and see the vision becoming a reality. We are really looking forward to welcoming our first residents in spring 2012. Clydesdale Bank has been very supportive through their clear understanding of the challenges of providing development funding and also in making their local premises available to assist recruitment.”