We’ve been financing lots of different sectors and projects since we became an officially registered bank, including many multi-million pound deals. But we’re also supporting a range of businesses with loans that are below £2 million, helping to fund an important stage of their growth.
Businesses use loans for a number of reasons – from company management buyouts to smaller scale property projects. Here’s how our customers have used loans of up to £2m to achieve their milestones.
Acquiring new businesses – Nightingale Healthcare, £760k
So you’ve found a successful business you’d like to acquire? Great! Now you just need your loan to be funded quickly to complete the purchase. This is what former police officer Mo Moosa was looking at as he made the leap into entrepreneurialism and needed a funding partner to secure the business.
He came across a care business with a truly unique selling point in an area to which he had a personal connection. Mo wanted to grow the business, expanding the services to offer specialised care to even more people across his region. Care Unique focuses on providing at-home care for the Black, Asian and minority ethnic (BAME) community across West Yorkshire, matching them with carers that understand their cultural needs and who speak their first language. Inspired by the ones that were providing care best, Mo knew he wanted to be a part of this business’ future.
Mo setup Nightingale Healthcare and with a business loan from OakNorth, he was able to complete the purchase of the business to be managed by this new group. With a successful company already under their wing, this then puts them in an even stronger position to expand in the future, adding more care facilities to their name in the years to come.
Aiding a management buyout – BTTC, £1.75m
When there’s a difference of opinions in the direction that the business will head, sometimes a separation is the best way forward. This can often mean a management buyout –but not all businesses will have the cash flow to make this happen at the right time.
Rail consultancy BTTC Infrastructure were in this position when changing the tracks of their own company direction. When two of the three founding members decided to exit the company, our quick loan allowed these founders to move on and to bring in their new management team to see a smooth transition. Because the deal was financed quickly and capably, this gave all of the involved parties the freedom to progress as they wanted.
Exploring new product types – Clavis IDS, £1.4m
A cash injection into your business can really help when you’re looking to expand into new product areas and research what more you could be doing for your customers.
Manufacturing businesses are often innovating and producing materials that will help other companies grow, so helping these kinds of businesses access finance is critical to helping the wider industry’s advancement.
We supported Clavis Integrated Display Systems, a manufacturing company that mostly specialises in belt tension measurement equipment, with debt finance in 2022. They’re a company that’s highly tuned into the latest industry trends and committed to supporting future industry advancement in 3D design.
Our loan to Clavis contributed to several focuses of the business. It helped to initially fund a management buyout and it was also used to continue developing production methods. Investments like this are hugely valuable and are necessary for pushing the industry forward, so this loan ended up making a big impact for multiple businesses.
Further developments into known markets – SWPG Rock, £900k
Expanding into new markets and being able to create new products is great, but decades of experience in an industry and real understanding of what your customers are looking for is invaluable. Leaning into your industry knowledge can help you hone in further on what else you can be doing in your current sector.
Many years of operating in real estate can equip you with the knowledge of what works well; what is in demand, what will fit within the area, and what new proposals will excite people. This was the case for our Summer 2022 loan to SWPG Rock, a husband and wife led company with decades of real estate experience. They used their loan to invest in creating a mixed-use scheme in a coastal Cornish village, developing both residential and commercial units with parking garages. Understanding the area needed a combination of living and working spaces meant they could create a site that would be beneficial for tenants as well as investors.
If you’re considering your own residential property investment and are looking for a loan under £3m, our newest property loan application can help you get the money for your next project faster.
Affordable products – SC Property, £1.4m
It’s really refreshing to see companies looking to help their customers with the services they offer, especially in the housing market which is the largest expense for most families. Silver Circle Property specialises in providing affordable homes across the country and their £1.4m loan helped finance a new residential scheme in London.
Being able to back projects like this and bring more affordable housing to the UK’s most expensive city to live in makes a huge difference in the resident’s lives that go on to purchase the apartments. With modern designs with premium fittings and finishings, Silver Circle is redefining what affordable living looks like.
OakNorth offers business loans from £250,000 up to tens of millions. Find out how we can support your growth with our business loans today.
