YourCare has been provided with a £5.5 million term loan from Growth Lending.

YourCare is a Preston-based operator of specialist residential homes for children and young people with emotional and behavioural difficulties, complex needs and/or learning difficulties. The company employs 55 staff who deliver round-the-clock support.

The funding will enable YourCare to acquire and fit out four additional properties, expanding its estate from five to nine homes, while also providing working capital headroom to support this next stage of growth. Following completion of this funding round, the business will add eight new beds to its portfolio and around 25 new care roles.

Alex Nuttall, director at YourCare, said: “Securing this finance marks a significant milestone in our journey to expand and enhance our children’s residential care services. It’s a testament to the strength of our vision and the unwavering dedication of our exceptional management team. With this support, we are now positioned to grow sustainably and continue providing safe, nurturing environments where every child can thrive.”

Sean McCormick, director of debt finance in Growth Lending’s Manchester office commented: “YourCare is exactly the type of business Growth Lending wants to support. Our funding will accelerate its already impressive growth trajectory in a sector underpinned by strong market drivers and real-world impact. With the solid foundation the management team has built, we are confident the business will go from strength to strength and we are excited to support the team on their journey.”

The transaction was led and introduced by YourCare’s advisor PMD Business Finance.

John Platt, head of structured finance at PMD, said: “We collaborated closely with YourCare to craft a tailored funding strategy aligned with their ambitious growth objectives, delivering a comprehensive, end-to-end advisory service. Our support included the involvement of our chief financial officer Nick Dumper, who worked alongside Alex and the team to develop a robust financial model and forecast to facilitate Growth Lending’s underwriting and due diligence process.

“We’re proud to have played a key role in securing this facility, which will enable YourCare to realise its growth plans.”