Invoice finance providers Positive Cashflow Finance have provided a six-figure funding line to residential and respite nursing care providers, EAM Care Group.
The funding line looks to support the existing expansion plans for one of the sites, allowing housing capacity to increase by 50%. By creating additional space, the business can house and care for more residents.
The Manchester-based company EAM, which was established in 2006, provides care services to individuals ranging from 16 to 65 years of age primarily in the Greater Manchester, Lancashire and Cheshire regions. With three site locations, EAM currently houses up to 18 residents.
Nick Whimpanny, director at EAM, said: “We are thrilled to have secured funding from Positive to help our business grow. This has allowed us to progress our plans to expand our premises and help more people in the community. The whole team at Positive were keen to support us from day one, which really made the difference. They gave me the confidence to keep driving forward, as I knew they were backing our business all the way and working with us to make it a success.”
Positive offers facilities from £10k to £1m to businesses across the UK. As part of 1pm, Positive also provide access to a multi-product range of business finance solutions from asset finance, commercial loans through to vehicle finance.
Nick Chapman, business development manager at Positive, said: “We are delighted to be involved with EAM and assisting with their growth plans to support more people in the area. Nick and everyone involved at EAM provides excellent care and it’s a pleasure to support a business who make a real difference to the community.”
In June Positive Cashflow Finance promoted Andy Hume to the freshly created role of head of sales. Hume will be responsible for leading Positive’s new business effort working through their network of introducers and brokers as part of the 1pm Group.