Essex nursery acquires Epping Forest site with OakNorth Bank backing

An Essex-based education and childcare specialist has secured funding from OakNorth Bank to support its acquisition of a property in Epping Forest.

Little Explorers Day Nursery has secured a loan from the bank in order to acquire the eight-bed detached house, with plans to convert it into a nursery.

Founded in 2015 by Lee Stimpson, Little Explorers specialises in education and childcare for babies, toddlers and children.

The acquisition is part of a wider long term growth strategy for the company, which plans to open five more nurseries in locations on the outskirts of London.

Lee Stimpson, founder and director of Little Explorers Day Care Nursery Limited, commented: “We’re very excited about expanding our portfolio – the first step into broadening it to several other nurseries in the next few years.

“Despite the ongoing challenges of COVID-19 we were able to demonstrate Little Explorers’ successful track record pre-COVID-19, and our growth plans for the years to come.

“As a sector that has been heavily impacted by the lockdown, I’m incredibly grateful for OakNorth Bank’s support during this time.”

Ben Barbanel, head of debt finance at OakNorth Bank, added: “At a time when most lenders are retrenching from the SME lending market, we’re still seeing numerous opportunities to support strong businesses with their growth ambitions.

“Since the beginning of lockdown, we’ve approved over £110m in new loans, of which £40m are through CBILS. This transaction provided an opportunity to support a nursery business with an excellent track record in terms of both quality and occupancy. We look forward to continuing to work with the team in the future.”

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