Ayrshire care facility agrees £4 million funding package

04/10/2011

A leading Ayrshire care facility has agreed a new funding package with Clydesdale Bank.

Buckreddan Care Centre in Kilwinning provides nursing and residential care for male and female residents across the Ayrshire area.

The £4.3 million funding package, delivered as part of Clydesdale Bank’s Investing for Growth strategy, an initiative which helps successful businesses to grow, comprises loan, overdraft and asset finance facilities.

A family-run business, Buckreddan was founded in 1986 by Andy Fitzimmons with the proceeds of a redundancy package from his previous job as a miner.

The centre is managed by Mr Fitzsimmons’ wife Theresa, a registered nurse, and the couple’s son, Ford, also recently joined the business in a managerial role.

Buckreddan provides living accommodation for 116 residents within its Eglinton and Garnock facilities employing around 130 staff and also offers support for people with severe physical disabilities who have higher dependency nursing needs.

Constructed on the site of the former Kilwinning Maternity Hospital, the Centre also houses the Little Deers nursery facility.

Mr Fitzsimmons said: “Since we established Buckreddan in 1986 our approach has been to grow steadily, expanding the facilities we offer the local community and enhancing the services we provide.

“Our aim over the next five years is to grow the business further and for that reason we took the decision that the time was right to change our funding partner. The Clydesdale Bank team have demonstrated their understanding of the challenges facing the care sector and view Buckreddan as a long-term prospect.

“They have ticked all the boxes for us and we look forward to working with them as we progress to the next stage of our development.”

Ian White, Senior Partner at the Clydesdale Bank Financial Solutions Centre in Bearsden, said: “The high standard of care offered by Buckreddan is testament to the approach which Andy and Theresa take to running the business and to the quality of the staff they employ.

“The Centre is a highly significant employer within the Ayrshire area and has deservedly won a reputation as a facility which provides excellent service to all those in its care.”

Clydesdale Bank launched its new business support initiative – Investing for Growth – to help successful businesses grow and develop. The support package offers both new and existing business customers a dedicated planning service and a more flexible approach to lending.

Loan repayment holidays, interest-only repayments and extended loan and credit facilities are just some of the flexible support options available under the Investing for Growth initiative which also includes access to a dedicated Independent Financial Advisor service.