A children's care home provider has secured funding to support the opening of its first homes.
PNSL, based in Nottingham, was set up to improve the lives of children and young people in care with 鈥渟afe, nurturing, and therapeutic living environments鈥.
Its first home opened in January in Mapperley, Nottingham and has generated five new jobs. It wants to open further homes in Nottinghamshire and Derbyshire, providing more support and generating jobs across the counties.
The business has secured 拢150,000 from the Midlands Engine Investment Fund (鈥淢EIF鈥) East & South East Midlands Debt Finance fund, which is managed by Maven Capital Partners.
PNSL (Prime Nurture Services Limited) was founded by technology entrepreneurs Glyn Heath and Anthony Davy, and provides care, accommodation and support for children aged eight to 18.
Glyn Heath said staff work with each child to design a tailored personal development plan, and PNSL has invested in a technology platform to monitor these plans, outcomes, and the medical and emotional needs of each resident, working with community groups, leisure organisations, faith groups, businesses, and local authorities.
Mr Heath said: 鈥淧NSL came into existence to help alleviate the chronic shortage of high-quality residential children's care currently experienced across the 海角视频.
鈥淏y working with Maven, we can deliver on this mission from a solid financial footing. Creating the availability of new, genuinely therapeutic places will mean we will be able to offer a safe and supportive environment to as many vulnerable children as possible.鈥
Jonathan Lowe, is investment director at Maven, which was bought last year by Leicester wealth management specialist Mattioli Woods.
He said: 鈥淎nthony and Glyn have shown huge commitment to establishing PNSL in this sector, where compliance and regulations are rightly a high priority.
鈥淢ore importantly, their team are equally committed to improving the lives of the young people and we at Maven are delighted to support them with the finance to grow.鈥
Lewis Stringer, senior manager, 海角视频N at the British Business Bank, said: 鈥淚t is great to see the MEIF鈥檚 funds boosting the region鈥檚 diverse economy and creating new jobs.
鈥淲e鈥檇 encourage other businesses and sectors across the Derbyshire and Nottinghamshire area to consider the various finance options available through MEIF.鈥
Will Morlidge, interim chief executive at the D2N2 local enterprise partnership said: 鈥淎s co-investors in the fund, I鈥檓 pleased to see the Midlands Engine Investment Fund supporting ambitious businesses like PNSL to thrive, creating jobs in the area while giving vulnerable young people a safe and stable environment.鈥
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