When a successful swim school aimed to make a splash in a new market, ASC provided expert support to help turn the expansion into reality.
Client: Swim school based in Kent
Facility: £100,000 unsecured business loan
Purpose: Expansion into new premises and service offering
Background – Expanding a successful swim school
Our client, SafelySwim – a swim school in Kent voted outstanding for teaching quality, had built a strong reputation operating from leasehold premises. With their current location at full capacity, they were seeking a site to open a second swimming pool and fulfil a new contract with two local Special Educational Needs (SEN) schools.
To make this leap, the business required £100,000 to fund:
- A deposit for the new leasehold premises
- The pool installation (materials and labour)
- An energy-efficient heat pump
- Working capital to cover rent, staffing, and uniforms while the new venture beds in
- A new minibus
Challenges – Overcoming finance hurdles for a growing business
This application was not straightforward as the business faced several hurdles, notably:
- The business was relatively young
- It had a poor trading history due to the impact of COVID and the business being unable to operate for a significant time
- The business was at capacity, so it was difficult to demonstrate affordability
- There were no tangible assets to secure the loan against
Solution – Building a robust case for funding
We worked closely with the client to build a robust and credible application that demonstrated the business’s growth potential and the strategic value of the expansion. Leveraging our established relationship with a senior manager at a high-street bank, we were able to present the proposal directly, advocating for the client and highlighting the merits of the application.
Our insight into the lender’s criteria and decision-making process allowed us to position the deal effectively and ultimately secure funding.
Outcome – Making waves with a new facility
We submitted the application, and just six weeks later, the client received their loan offer — a welcome surprise on Christmas Eve!
We successfully negotiated a competitive interest rate, resulting in significant savings for the client in long-term borrowing costs.
The loan was drawn down in the new year and by March the new swimming pool was fully installed, operational, and already serving their new SEN school partnerships.
“We completed the facility and just three months later everything was sorted and up and running. We are currently seeing roughly 200 Learn to Swim kids on a weekly basis at this facility.
Thank you for your help and support on this project. We wouldn’t have made it without your help!”
– Evan Waters, SwimSafely
