Two Carmarthenshire businesses expand to new premises after £ 1.6million in loans from the Development Bank of Wales

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Two successful Carmarthenshire businesses recently recovered the keys to their new purpose-built premises at Pensarn Park after receiving support from the Development Bank of Wales and the Carmarthenshire Council. The new commercial and industrial site is just 2 km from the town of Carmarthen.

Old Oak Dental Practice has received a £ 1.2million loan from the Development Bank to purchase and fit out a specially designed six-chair dental practice.

Likeafish Swimming School now has its own swimming pool to help more children learn to swim after receiving a loan of £ 400,000 from the Development Bank of Wales. Likeafish was also backed by Lloyds Bank through a commercial mortgage.

Funding for both agreements came from the Wales Business Fund, which is partly funded by the European Regional Development Fund through the Welsh government. The two companies also received a grant from the Carmarthenshire Council to help them cover the overall costs of the project.

Successful dentist Dr Adam Llewellyn owns and operates three practices in Llandeilo, Llandovery and Carmarthen. His new, larger practice at Pensarn Park will replace the existing practice in downtown Carmarthen.

“I am delighted to have received the keys and look forward to welcoming patients to our new base in Carmarthen, said Adam. “The new surgery allows more dentists to work together safely, while providing ample parking for staff and patients. I am delighted with the support I received from Ashley and Clare at the Development Bank, the process went smoothly despite having worked during a global pandemic. ”

Likeafish Swim School already provides swimming lessons to just over 450 children. Managing Director Russell Sparks hopes to help even more children learn to swim in West Wales now that he has his own pool.

“We have been helping children learn to swim in Carmarthenshire for over 10 years now, having our own pool was the next logical step in meeting the demand for our very popular lessons,” added Russell. “The loan from the Development Bank of Wales has made this next step achievable and we look forward to welcoming alumni as well as new clients again once the foreclosure restrictions are relaxed. We are also delighted that the facility allows us to expand our activity offering to include parent and infant classes as well as adult swimming lessons in addition to our existing learn to swim program.

Investment executives Ashley Jones and Clare Sullivan structured the deal for Old Oak Dental Practice on behalf of the Development Bank. Ashley also arranged the loan for Likeafish Swim School. He said: “It has been a pleasure working with both companies over the past few months and I am happy that they will soon be welcoming clients to their new premises at Pensarn Park. Russell and Adam are both successful local entrepreneurs and we are excited to help them take the next steps in growing their business.

Carmarthenshire County Council Chief Cllr Emlyn Dole said: ‘The council is delighted to have provided financial support to The Old Oak Dental Practice and Likeafish Swim School to develop new premises and employment space. for new jobs in Carmarthenshire. Providing new jobs to the people of Carmarthenshire is a key priority for the Board of Directors and I was delighted that we were able to support these businesses.

Old Oak Dental Practice is currently accepting new private patients, please visit https://oldoakdentalpractice.co.uk/en/request-an-appointment/ to request an appointment.

You can find out more about the courses and reserve a place with Likeafish Swim School by visiting https://www.swimcentre.wales

To find out more about how the Development Bank of Wales can support your business, visit developmentbank.wales. Or for an informal discussion about your financial needs, email Ashley [email protected] or Claire [email protected]

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