Dudley Care Provider Secures £100k Growth Funding
25 Oct 2021
Published in: Member News
A Dudley based care provider has secured £100,000 to expand its support for young adults with learning difficulties.
Inclusion Independence secured funding from regional lender BCRS Business Loans via the Community Investment Enterprise Facility (CIEF) and was backed by the now-closed Coronavirus Business Interruption Loan Scheme (CBILS).
The care provider, which offers a holistic approach to care for young adults, experienced a fall in turnover during 2020 due to additional costs associated with the Covid-19 pandemic, such as PPE.
But now, with funding secured, Inclusion Independence intends to support an additional three residents this year, which will also see the company employ and upskill three extra staff.
Director Ashley Pountney said: “We are delighted to have secured the funding required to expand Inclusion Independence, which wouldn’t have been possible without backing from BCRS Business Loans.
“After pursuing a seven-year career in care, I could see the difficulty parents and social workers faced when having to find suitable care providers for young adults that had finished full-time education. So, in 2017, I decided to open up my own supported adult living care home.
“We now have three sites across Dudley which deliver holistic care, where a partnership is developed to ensure young adults influence what their care looks like, with independence and social inclusion being encouraged in all aspects of life.”
Lynn Wyke, senior business development manager at BCRS who supported Ashley throughout the loan application process, said:
“We are committed to supporting the growth and prosperity of businesses right across the West Midlands region. Inclusion Independence is an incredible business which is improving the lives and prospects of young adults with its unique approach to care. With a strong leadership team and robust plans for the future, we know this funding boost is going to help the growth of the business and help more young adults as a result.
“As a lender that is dedicated to intentional social and economic impact, we are really pleased to see that three additional jobs are being created. Ultimately, we believe that no viable business should go unsupported, so please get in touch if your business requires funding to achieve growth plans.”
Delivered on a local level by BCRS Business Loans, CIEF is managed by Social Investment Scotland. Alastair Davis, chief executive at Social Investment Scotland, said:
“The team at Social Investment Scotland, as managers of the CIEF, are delighted to see this latest investment from BCRS Business Loans. The fund was established to make investments into businesses that generate both social and economic benefit, and it is encouraging to see that as a result of this expansion more families will be able to benefit from the support that Inclusion Independence provide. Well done to Ashley and the team.”
The Coronavirus Business Interruption Loan Scheme (CBILS), which closed to new applications on 31st March 2021, was managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and industrial Strategy (BEIS).
Businesses in the West Midlands region that are struggling to access finance from traditional lenders can secure loans from £10,000 to £150,000 from BCRS Business Loans to support growth and recovery plans. BCRS is a delivery partner for the Recovery Loan Scheme (RLS).
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