The borrower has a strong background in the care home sector, having worked with the Care Quality Commission (CQC) to help turn around underperforming businesses.

After helping their previous employer to improve the profitability of four care homes, the owners of the borrower wanted to start their own business by acquiring and improving already established underperforming care homes.

Broker Paul Mak, managing director at Pomegranate Commercial Finance, presented the deal to a host of lenders, including high-street banks.

Atom bank was able to overlook the fact the care home being purchased had a ‘Requires Improvement’ status from the CQC, and that the borrower was technically an FTB, despite the owners’ experience in this space.

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Atom bank provided the commercial mortgage at a fixed rate over a five-year term at 71% LTV.

Paul commented: “I am a big fan of Atom bank, its sensible criteria, and approach to lending.

“While high-street banks often focus on larger facilities, Atom bank is much more flexible in this sector, judging cases on their individual merits and delivering genuine support to smaller care home providers.”

Karen McGrath, regional BDM at Atom bank (pictured above), added: “[We are] committed to delivering for underserved businesses, such as FTBs and going concern businesses.

“We have worked closely with Paul on a host of cases in the past, so he has a great understanding of our approach, criteria, and determination to support small businesses in both the care home and all SME sectors.”