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A local entrepreneur saw an opportunity in a declining golf establishment that has declining facilities and poor membership retention. Seeing potential, he was looking to invest in a comprehensive refurbishment, but needed substantial funding for further expansion.
Turning to Ray McAuley at Millbrook Business Finance, he secured tailored business finance solutions, including an unsecured business loan and asset finance to facilitate his plans. These funds transformed the club into a thriving sports and spa facility, now a thriving fitness and wellbeing centre.
Client Background
A local entrepreneur with big dreams for a failing golf course
Carl, the finance director of a country club and golf course in Essex, took over the establishment in 1992. The club, which now includes a golf course, squash courts, a wellbeing centre, and a spa, was in decline with poor membership retention and outdated facilities. Carl, a local entrepreneur with multiple businesses, saw an opportunity to rejuvenate the club and invested heavily in a comprehensive refurbishment of the leisure and hospitality venue.
The Challenge
A country club in desperate need of renovation
When Carl took over, the golf course and facilities were in poor condition. He initiated a full refurbishment, including re-modelling the course with diggers and excavators, investing in state-of-the-art golf buggies, installing a new security system, and upgrading the function rooms.
In 2021, Carl aimed to expand further by adding a new spa and wellbeing centre, paddle board courts, and a virtual golf simulator for training. This ambitious expansion required substantial funding, and Carl needed a reliable finance broker who could act as an extension of his business to facilitate suitable finance products.
The Solution
A bespoke business finance solution to meet their goals
Ray McAuley from Millbrook Business Finance became Carl’s trusted business finance broker, arranging a variety of finance solutions tailored to the business’ goals:
Unsecured business loan
An unsecured business loan totalling £1.1 million with flexible terms to cover a multitude of business requirements.
Benefits of Business Loans
● No need for collateral
● Quick approval and disbursement
● Flexible repayment terms
● Supports various business needs
Asset and equipment finance
Asset and equipment finance totalling £500,000 through hire purchase and lease arrangements, funding towards their second site and plant equipment.
Benefits of Asset Finance
● Preserves cash flow
● Enables acquisition of high-value assets
● Offers tax benefits
● Flexible repayment options
The Impact
The secured funding transformed the fortunes of the previously failing golf club. The club now boasts high-quality facilities, attracts new customers, and serves the community with state-of-the-art amenities for health and wellbeing. Carl’s strategic investments, supported by the right financing, have revitalised the club, making it a well loved community fitness hub once more. Carl has become a long-standing client of Ray's, already planning further growth across his other businesses.
Summary
Through strategic financing facilitated by Ray McAuley at Millbrook Business Finance, Carl's country club in Essex has undergone a remarkable transformation. The combination of unsecured business loans and asset finance empowered the refurbishment and expansion of the club, resulting in a thriving, high-quality establishment.
This success story underscores the importance of having a reliable business finance partner who understands and supports the unique needs of a business, paving the way for continued growth and success.
Get in touch to discuss your business financing needs with one of our experts. Alternatively, check your eligibility for business finance with Millbrook now for a tailored financing solution that can support your business growth goals.
