Northumberland fitness firm set for expansion with five-figure funding

A fitness facility in Northumberland has secured five-figure investment to boost its growth after outgrowing its previous poremises.

District V secured £15k from the North East Small Loan Fund after relocating to a new base at Whitehouse Farm in Stannington to meet growing demand for its services.

Opened in April last year, District V specialises in functional fitness and offers a range of classes.

Bastian White, one of District V’s four directors, commented: “We really only set up the gym for ourselves and a few friends and neighbours, and it’s been great to see the number of users growing over the last few months, essentially just through word of mouth.

“Whitehouse Farm is an easily accessible location that gives us plenty of space for all sorts of different activities, inside and out.

“Moving into the bigger unit will allow us to welcome even more people along to try out what we have to offer.”

Supported By The European Regional Development Fund, the North East Small Loan Fund aims to support SMEs in the region, typically offering loans of between £10k and £50k to businesses in Tyne & Wear, Durham and Northumberland.

Bastian continued: “The NEL investment team were really friendly and helpful, the investment options they provided fit well with what we needed and we couldn’t recommend them enough.”

Mike Guellard, investment executive at NEL Fund Managers, added: “The District V team has made amazing progress in such a short space of time.

“The new gym looks terrific, and with many of us making a New Year’s resolution to get fitter, it’s opening at an ideal time.”