Clydesdale Bank

Clydesdale Bank provides funding for major care home developer

Clydesdale Bank has provided funding to TLC Care to refinance the latter’s flagship home Karuna Manor — a 60-bed, purpose-built care home in Harrow.

The funding has enabled the care home developer and operator — which owns seven, large-scale luxury care homes across the region —to free-up extra working capital that it plans to invest into new projects to grow its portfolio.

“[Clydesdale’s] expertise in the sector made them a natural fit as a new banking partner for us and we look forward to working with them on future projects,” said Gagan Puri, finance director at TLC Group, which owns TLC Care.

“We are aiming to grow our portfolio, including expanding into other types of developments like co-working spaces, and refinancing was a key first step on this journey.”

Craig Ambler, director of health and social care at Clydesdale Bank, added: “It has been our pleasure to assist the management team at TLC Group, [which has] managed to grow the business exceptionally over the last 12 years.”

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