" class="no-js "lang="en-US"> Oaknorth Bank Provides £6M Loan to Leading Care Home Provider
Friday, June 09, 2023
Point Zero Forum

Oaknorth Bank Provides £6M Loan to Returning Customer and Leading Care Home Provider in Jersey, LV Care Group, To Support Future Growth

OakNorth Bank, the neobank for entrepreneurs, by entrepreneurs, has provided a £6m loan to returning customer and leading care home provider in Jersey, LV Care Group.

Founded in 2011 by Nick Bettany and Chris Shelton, LV Care Group was established to develop care homes for elderly clientele in the community including home care, dementia care, mental health and wellbeing care, as well as nursing and residential accommodation. The group continues to be well-renowned ambassadors for independence and the preservation of quality of life, with its care services delivered by trained professionals, dedicated to enriching lives by looking after and supporting health, wellbeing and safety.

The capital from OakNorth will be used to refinance an existing loan on its Cheval Roc care home, whilst also supporting the group’s future growth. With panoramic views of Bonne Nuit Bay, Cheval Roc consists of 41 bedrooms, with the majority of its en-suite rooms offering excellent sea views.

Nick Bettany, CEO & Co-founder of LV Care Group, commented: “Following a recent report by the Jersey Care Commission that revealed a growing demand for local care services in the region, the provision of our services has never been more vital. After working closely with Stuart and the OakNorth team on a previous funding package, we fully expected a high level of understanding towards Jersey’s care industry, as well as a willingness and desire to design a package that was tailored to our specific needs – and that’s exactly what we got. This latest facility will once again provide us with the required capital to help support our growth journey and we look forward to continuing our relationship with OakNorth in the future.

Stuart Blair, Director of Debt Finance at OakNorth Bank, added “Nick and Chris continue to build-upon LV Care Group’s already stand-out reputation and we’re delighted to once again be able to support the group’s growth journey. Cheval Roc’s coastal setting on one of the most popular bays on the island, means that it is always in demand and that is evidenced by its 100% occupancy levels. We look forward to working with LV Care Group on future transactions, as we look to further emphasise our appetite to support the UK care sector throughout 2023 and the years ahead.”

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