Two business relocate with Development Bank and Council Backing
Two businesses have relocated to new premises at Parc Pensarn after securing backing from the Development Bank of Wales and Carmarthenshire Council.
Old Oak Dental Practice received a £1.2m loan from the Development Bank to purchase and fit-out a purpose built six-chair dental practice.
Dr Adam Llewellyn owns and manages three surgeries in Llandeilo, Llandovery and Carmarthen. The new larger practice at Parc Pensarn will replace the existing surgery in Carmarthen town centre.
Likeafish Swim School now has its own pool to help more children learn to swim after receiving a £400,000 loan from the Development Bank of Wales. Likeafish was also supported by Lloyds Bank through a commercial mortgage.
The school currently provides swimming lessons to more than 450 children.
Funding for both deals came from the Wales Business Fund, which is part-funded by the European Regional Development Fund through the Welsh Government. Both companies also received grant funding from Carmarthenshire Council to help with overall project costs.
Investment executives Ashley Jones and Clare Sullivan structured the deal for Old Oak Dental Practice on behalf of the Development Bank. Jones also arranged the loan for Likeafish Swim School. He said: “It’s been a pleasure working with both businesses over recent months and I’m pleased they’ll soon be welcoming customers to their new premises at Parc Pensarn.
“Russell and Adam are both successful local entrepreneurs and we’re delighted to help them take the next steps in their companies growth journeys.”
Carmarthenshire County Council leader Cllr Emlyn Dole added: “The council is delighted to have provided funding 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 for people in Carmarthenshire is a key priority for the executive board and I was pleased we were able to support these ventures.”