9 February 2012
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1 April 2010
Husband and Wife Team Set to Transfrom Carmarthenshire Care Homes
The owners of an Ammanford residential care home are on the acquisition trail after securing a loan from www.lloydstsb.com/business to buy a second property in Llanelli.
Husband and wife team Joy and Vijayarany Yoganathan have run the successful Cartref Ael-y-bryn care home in Ammanford, Carmarthenshire for the past 20 years and purchased Stepney Park Nursing Home on Beech grove, Pwll, near Llanelli in January 2010 after it closed down last year.
The couple secured a loan from the Healthcare Banking team at Lloyds TSB Commercial to fund the purchase of the premises and complete a £200,000 refurbishment programme.
The property will reopen in March under the new name of Cilymaenllwyd Care Home, creating 30 jobs.
A new management team with excellent credentials will run the care home, which will have a 41-bed capacity.
Joy and Vijayarany are now planning to grow their portfolio further and targeting to a total of six homes by 2015
Joy Yoganathan said: “Over the past 20 years we’ve worked hard to build an excellent reputation in this sector and our aim now is to provide a greater number of people with high quality care in clean, comfortable and safe surroundings.
“The funding provided by Lloyds TSB Commercial enabled us to seize the opportunity to begin our expansion plans by transforming Stepney Park into Cilymaenllwyd Care Home.
“We’re looking forward to officially opening Cilymaenllwyd and welcoming our first residents.”
Jacqui Bowen, senior business development manager for Lloyds TSB Commercial, said: “With Joy and Vijayarany at the helm, I have no doubt that the Cilymaenllwyd Care Home will become a real asset for the community it serves in the years to come.
“Our 100-strong nationwide team of healthcare specialists understand the issues and business models of firms in the industry and can provide specific and relevant guidance on funding and financial structuring.
“By working closely with Joy and Vijayarany we had a good understanding of their ambitions for the future and were able to quickly provide the funding that has enabled them to kick-start their expansion programme.”
Husband and wife team Joy and Vijayarany Yoganathan have run the successful Cartref Ael-y-bryn care home in Ammanford, Carmarthenshire for the past 20 years and purchased Stepney Park Nursing Home on Beech grove, Pwll, near Llanelli in January 2010 after it closed down last year.
The couple secured a loan from the Healthcare Banking team at Lloyds TSB Commercial to fund the purchase of the premises and complete a £200,000 refurbishment programme.
The property will reopen in March under the new name of Cilymaenllwyd Care Home, creating 30 jobs.
A new management team with excellent credentials will run the care home, which will have a 41-bed capacity.
Joy and Vijayarany are now planning to grow their portfolio further and targeting to a total of six homes by 2015
Joy Yoganathan said: “Over the past 20 years we’ve worked hard to build an excellent reputation in this sector and our aim now is to provide a greater number of people with high quality care in clean, comfortable and safe surroundings.
“The funding provided by Lloyds TSB Commercial enabled us to seize the opportunity to begin our expansion plans by transforming Stepney Park into Cilymaenllwyd Care Home.
“We’re looking forward to officially opening Cilymaenllwyd and welcoming our first residents.”
Jacqui Bowen, senior business development manager for Lloyds TSB Commercial, said: “With Joy and Vijayarany at the helm, I have no doubt that the Cilymaenllwyd Care Home will become a real asset for the community it serves in the years to come.
“Our 100-strong nationwide team of healthcare specialists understand the issues and business models of firms in the industry and can provide specific and relevant guidance on funding and financial structuring.
“By working closely with Joy and Vijayarany we had a good understanding of their ambitions for the future and were able to quickly provide the funding that has enabled them to kick-start their expansion programme.”
Notes to editors
Lloyds TSB Commercial is a trading name of Lloyds TSB bank plc and Lloyds TSB Scotland and provides dedicated banking services for customers with an annual turnover of up to £15 million, from start-ups to established companies looking to grow.Lloyds TSB was voted Bank of the Year for the fifth year running at the Real FD/ CBI FDs' Excellence Awards 2009 in recognition of the support it offers its business customers.
Lloyds Banking Group has over one million small and medium sized business and not for profit customers and has launched a three-year programme of support for SMEs.
The key points of the 2012 SME Charter are:
1. Lloyds TSB will encourage enterprise, boost access to finance and provide clearer and fairer pricing for customers – including a pledge to help 300,000 new start ups by 2012
2. Lloyds TSB will run a programme of 200 nationwide seminars every year for the next three years, to provide expert guidance and support for SMEs on starting up, employment, exporting, bidding for 2012 contracts, sustainability and finance
3. Lloyds TSB will agree to any reasonable request for competitive commercially-priced finance (whether short-term or long-term) from viable business customers
4. Lloyds TSB will not change the availability of overdrafts during the period of a customer’s agreement, as long as their accounts are kept within agreed terms and limits
5. The price of existing loans or renewed overdrafts will reflect the cost of funding. The margin Lloyds TSB charges over the cost of funding will only increase where there has been a material increase in risk (subject to a minimum 1.5 per cent over the cost of our funds). Lloyds TSB will be transparent about pricing and help customers understand the price of their facilities. Where margins increase, Lloyds TSB will provide a clear explanation of the reasons
6. Lloyds TSB’s fees will be competitively priced. And arrangement fees on loans and overdrafts will not be greater than 1.5 per cent of the overall value of the facility
For more information, please visit www.lloydstsb.com/business Back to top | More Lloyds TSB stories
