Allica Bank Targets £100 Million in New Healthcare Lending in 2025

Date:

Allica Bank is aiming to lend £100 million to the care home and day nursery sectors in 2025.

The bank says that both sectors have huge potential in the coming years but believes there is a void of sector expertise that is stifling the growth the country badly needs to meet soaring demand.

Allica has cut its commercial mortgage rates for care home properties across the board, and enhanced its maximum loan-to-value for new entrants. It says this is a statement of intent and its backing for the care home sector, adding that this will allow it to support an even greater number of operators, including both experienced professionals and new entrants to the market.

It follows Allica’s launch of a dedicated children’s day nursery proposition at the end of last year. This has already seen it support a range of day nursery businesses.

Mark Hickman from specialist care sector broker firm Chandler & Co has worked closely with Allica’s healthcare team to successfully support several care home businesses.

Mark said:

“The care sector continues to be a vital part of the UK SME market and, while the sector faces headwinds, there are also significant opportunities. It’s critical that brokers and lenders have the right expertise to be able to help operators source the best funding options.

“Allica have made a really positive impact to the lending market for care operators so far. Their commitment to building meaningful relationships and their sector expertise has made them a force to be reckoned with, and they will always go the extra mile to find a way to help a client. I am looking forward to seeing how they continue to grow and develop in 2025.”

Allica introduced its specialist healthcare team in September 2021, following the hire of Anthony Newman to lead the development of its care proposition.

Talking about its new ambitious lending target for 2025, Anthony said:

“Allica has seen significant demand from both care home and nursery businesses, and we don’t see this slowing down next year. The challenge for many of these businesses is that there’s so few lenders willing to speak to them. It’s why brokers are able to add so much value here, with a full view of the market and who might be able to help.

“We have high hopes for 2025 as we continue to expand our proposition and enhance our criteria to support as many care businesses as we can.”

Share post:

Popular

More like this
Related

A brand-new luxury Belmond sleeper train will link up London, Cornwall, Wales and the Lake District in 2025

Belmond, the folk behind the insanely glamorous Royal Scotsman, is launching a...

New direct rail service to link Edinburgh and Wales for the first time

The 455-mile journey will connect 22 stations...

Horoscope Today:12/11/2024

Aries (Mar 21-Apr 20) Aries Horoscope Today: November...