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Redwood Bank’s Warrington office aids mental health business deal

09/02/2021 13:16:12
Case study Our people Loans
When the owner of a mental health facility in Hale needed to find money to purchase a property she already rented, it was Redwood Bank’s Warrington team that stepped in.

Nestlings Care Ltd is a specialist care business which was set up in 2014. The company has one director and three shareholders.

 

The main shareholder is Dr Faeza Khan, who owns and operates the business which provides specialist residential placements for young people with mental health difficulties.

 

THE SITUATION
 

Nestlings Care Ltd used five properties as part of its business, one of which Dr Khan already owned.

 

But when the opportunity came up to buy the property in Prestwich which the company was already using, she decided to find the £1.05 million needed to complete the transaction.

 

THE SOLUTION
 

Dr Khan is the medical director of a mental health hospital and a well-respected medical health clinician.

 

She has successfully run Nestlings Care Ltd for nine years, which Redwood took into account when deciding on the £750,000 loan approval.

 

It was Business Development Director Russell Halter from Precise Commercial who brokered the deal, which ended up taking just eight weeks to complete.

 

THE EXPERIENCE
 

Once the loan was approved by Redwood Bank, the purchase was able to go through without a hitch, allowing Dr Khan to continue running her business, which so many people have come to rely on.

 

Russell Halter, Business Development Director at Precise Commercial, said:

"Redwood plugs a gap in the market where cases don’t fit the vanilla flavour of the high street. They can be flexible and look at a deal on its own merit. They also stand behind their decisions which, for a broker, is great as it means we can continue to deliver a seamless experience for our clients.

"I think Redwood is absolutely in touch with the business needs and demands in the local area and has shown great support for businesses in the north."