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Forge Care

CBILS Development Finance

Forge Care were about to start construction of a specialist childcare development in Nuneaton when the Coronavirus outbreak paused all building work and meant that they had to stand all contractors down. It was essential that the owners of Forge Care the Miller Family secured a development loan through the CBILS scheme, ensuring the company kept the site and could eventually continue with the build.

£5m

Amount Lent

24 Months

Loan Term

53%

LTV

The funding will provide construction of high-quality residential homes for 20 children, with 5 bedrooms per building. The exciting space will incorporate two different styles of accommodation, revolutionising the way children’s care is provided in the UK, and will also provide a significant boost to the local economy by creating 80 jobs.

Without CBILS the project wouldn’t be happening, it’s as simple as that. Relationship Director Neil Roper has been our main contact point along with Charlotte Weaver in the Relationship Support team. They’ve both been really supportive and overwhelmingly positive – the CBILS processes were a challenge but they were creative in finding ways to make it smooth. Having that support was really important, they were always there, and we can’t thank them enough.’

- Gavin Miller, Owner

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