Without Assetz the project wouldn’t be happening, it’s as simple as that. They’ve both been really supportive and overwhelmingly positive. Assetz were creative in finding ways to make it smooth. Having that support was really important, they were always there, and we can’t thank them enough.
Forge Care.
Development Finance
Forge Care were about to start construction of a specialist childcare development in Nuneaton when the Coronavirus outbreak paused all building work and meant that they had to stand all contractors down. It was essential that the owners of Forge Care secured a development loan through Assetz Capital, ensuring the company kept the site and could eventually continue with the build.
£5m
Amount lent
24
months
Loan term
53%
LTV
Forge Care
The Full Story.
Forge Care were about to start construction of a specialist childcare development in Nuneaton when the Coronavirus outbreak paused all building work and meant that they had to stand all contractors down. It was essential that the owners of Forge Care secured a development loan, ensuring the company kept the site and could eventually continue with the build.
The funding will provide construction of high-quality residential homes for 20 children, with 5 bedrooms per building. The exciting space will incorporate two different styles of accommodation, revolutionising the way children’s care is provided in the UK, and will also provide a significant boost to the local economy by creating 80 jobs.
With the site now complete and the homes full, Forge Care have taken out additional borrowing from Assetz to re-structure the existing debt and to release capital in order to grow the business across the region.
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