A six-figure funding line has been secured by residential and respite nursing care providers, EAM Care Group (“EAM”), to enable growth.
The Manchester-based company, which was established in 2006, provides bespoke care services to individuals ranging from 16 to 65 years of age primarily in the Greater Manchester, Lancashire and Cheshire regions. With three site locations, EAM currently houses up to 18 residents.
The business received funding from invoice finance specialist Positive Cashflow Finance Ltd (“Positive”), for the investment in new and adaptive technology as well as in staff training to further develop and evolve their nursing care.
The funding line looks to support the existing expansion plans for one of the sites, allowing housing capacity to increase by 50%. By creating additional space, the business can house and care for more residents.
Nick Whimpanny, director at EAM, said: “We are thrilled to have secured funding from Positive to help our business grow. This has allowed us to progress our plans to expand our premises and help more people in the community. The whole team at Positive were keen to support us from day one, which really made the difference. They gave me the confidence to keep driving forward, as I knew they were backing our business all the way and working with us to make it a success.”
Positive is one of the UK’s leading independent invoice finance companies offering facilities from £10k to £1m to businesses across the UK. As part of 1pm plc, the AIM-listed independent provider of finance facilities to the SME sector, Positive also provide access to a multi-product range of business finance solutions from asset finance, commercial loans through to vehicle finance.
Nick Chapman, Business Development Manager at Positive, commented: “We are delighted to be involved with EAM and assisting with their growth plans to support more people in the area. Nick and everyone involved at EAM provides excellent care and it’s a pleasure to support a business who make a real difference to the community.”