When Avtar and Amarjit Sandhu the owners of The Shubbery Care Home wanted to pay back a private investor, so they turned to Assetz Capital to borrow money from a group of investors.
Mr. and Mrs. Sandhu borrowed £700k from 644 investors which allowed the couple to buy out an existing private investor, including fees and a 2-month interest buffer, who had provided a short-term loan.
The couple have owned and run the profitable care home, The Shrubbery, for over 20 years. The 28- room, CQC registered home specialises in supporting residents over 65 with dementia and mental health conditions.
Gurtak Sandhu, manager of The Shubbery Care Home commented on his experience:
"Assetz Capital were very helpful in allowing us to achieve our goal to get the appropriate funding and making sure the business could move forward without having crippling monthly interest payments. I would recommend Assetz Capital, they have been good to us.”
Stuart Law, CEO of Assetz Capital added:
“We are happy the Sandhu family have chosen our peer-to-peer platform to give them time to find refinancing and increase their working capital.
With a strong plan and a great deal of experience in running care homes, it was a simple decision to help them find the funding they needed.”
Their son Gurtak, an economics graduate, manages the day-to-day business operation worked with Assetz Capital on the deal. The loan has given them the ability to repay the private lender and provide working capital into the business.