Funding enables fitness club growth

Funding enables fitness club growth

A South Tyneside fitness club is set for growth after securing a £10,000 loan from the Finance for Business North East Microloan Fund, managed by Rivers Capital Partners.

Kates Slimming Club, owned by Kate Marchant, runs over 50 different types of classes a week, in a friendly and modern fitness environment.

The loan will be used to purchase additional fitness equipment, and create a fully furnished beauty salon and a crèche for club members.

Marchant has built the company up over the course of five years, with ten years of industry experience behind her initially.

Kate first heard about the Microloan Fund through her business bank manager, and recommended she utilise the service. Kate was very pleased with the outcome, saying “It was really easy to do and the process was very quick.”

Rivers Capital Kristine Murane said, “It is great to see such a dynamic facility open in the area. The equipment Kate will buy enables the company to expand by increasing the number of members that can participate. This means plans that she has for the future are very achievable.”