A MULTI-MILLION funding deal between Barclays bank and Avondale Care Scotland has been agreed which will allow expansion.
The family-run business has been granted a £10.2m loan from Barclays bank, which will help facilitate long-term growths and take over Glenbervie care home in Falkirk.
Avondale Care Scotland, which is operated by brothers Graeme and Adrian Hendry, currently run three care homes: Carrondale in Falkirk and Benore and Lister in Fife.
Adrian Hendry, director of Avondale Care Scotland expressed his joy with the collaboration, he said: “This funding package is a big investment into the future of our business.
“The decision to bring on Barclays as our banking partner was made easy thanks to its committed team of experts who both share our vision for growth and can demonstrate in-depth knowledge across the complexities of the sector.”
He added: “We want to be able to provide the best possible care to our residents and this funding helps us to do so.”
All of the companies banking has been shifted over to Barclays through the partnership.
Jamie Grant, head of corporate banking for Barclays in Scotland said: “The healthcare sector has proven just how integral it is to the functioning of society in the past year.”
The business, which was established 34 years ago has since grown and now employs 680 people and reported a turnover of £11.5m in April 2019.