OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has participated in a club loan to specialist care provider, Kisimul Group.
Founded in Lincolnshire in 1977, Kisimul Group is a leading provider of specialist education and care for children and adults with autism, severe learning disabilities, and complex needs. Operating 44 sites across the UK, the group offers a full service and lifelong care pathway spanning schools, colleges, residential homes, and supported living. Since its launch, Kisimul has been committed to delivering outstanding outcomes through high-quality, person-centred care and education within safe, supportive environments.
The financing from OakNorth, which is part of a wider banking club loan, will refinance the group’s existing debt and support its long-term growth strategy, including the development of new supported living homes and increased capacity at its specialist schools and residential care sites. The bespoke funding will enable Kisimul to continue expanding its supported living footprint, that will see it develop new homes each year, as well as increase day placements to help meet a growing demand for high-acuity care provision in the UK.
Anita Andrews, CEO of Kisimul Group, commented on the transaction: “We’re very thankful to OakNorth for its part in this club facility and for its support and confidence in Kisimul. Securing this level of bespoke funding reflects not only the confidence in our growth journey, but also OakNorth’s deep understanding of our sector and our mission. This partnership provides us with the flexibility and stability to invest in our growth, via developing new supported living sites and enhancing existing services, so that we can continue to deliver outstanding, person-centred care for those who need it most.”
Mark Challis, Director of Debt Finance at OakNorth, added: “Kisimul plays a critical role in supporting some of the most vulnerable members of society. Its strong operational performance, stable cash flows, and robust asset base make it an excellent example of a high-quality operator in the specialist care sector. We’re delighted to back Anita and her team alongside our club partners, helping them deliver much-needed capacity in a sector with persistent undersupply.”
Read the orginal article: https://ffnews.com/newsarticle/funding/oaknorth-participates-in-a-club-loan-to-specialist-care-provider-kisimul-group-to-support-the-development-of-new-supported-living-sites-across-uk/
