South Tyneside club fit for funding

20 May 2016

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South Tyneside based Kates Slimming & Fitness Club has secured a £10,000 loan through the Finance for Business North East Microloan Fund, a regional loan scheme managed by Rivers Capital Partners.

Kate's Slimming Club aims to provide a friendly, personal experience in a modern, well-equipped fitness environment with the motivation of fully qualified instructors. The club is taking advantage of the increasing popularity of high intensity and dynamic fitness classes.

The club runs over 50 different types of classes a week, ranging from dance fitness to boxing. The business is breaking down the barriers between traditional "female exercise" and "men's exercise" to try and demonstrate the value of challenging your body's capabilities.

Owner Kate Marchant has built the company up over five years, with 10 years' experience in the industry prior to founding Kates Slimming Club. In 2009 she began to lead exercise classes in her local parish hall, only able to accommodate a few customers. By February 2014 she had bought her own premises.

Kate will use the money from the loan to grow her business in a variety of ways, purchasing more fitness equipment. A fully furnished beauty salon and a crèche will soon become part of the club in coming months.
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."

The North East Microloan Fund provides small businesses in the region with loans from £1,000 up to £25,000.

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North East Finance (Holdco) Ltd. Registered office, North East Finance (Holdco) Ltd, First Floor 33 Grey Street Newcastle upon Tyne NE1 6EE, Company Registration No. 07000577
“North East Finance” and “Finance for Business North East Microloan Fund” are trading names of North East Finance (Subco) Limited (Registered Number 07039229), which is authorised and regulated by the Financial Conduct Authority with reference number 718870