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A new unique centre of excellence for all skin and skin related conditions, has opened in Belfast after a significant loan from the Growth Loan Fund.  Belfast Skin Clinic has created three new jobs with another seven posts to be created before the end of the year.

Finance for the £50m Growth Loan Fund – which provides loans to established Northern Ireland SMEs seeking to access growth finance – has been provided by Invest Northern Ireland and private investor, Northern Ireland Local Government Officers’ Superannuation Committee (NILGOSC).

Development of the Belfast Skin Clinic has been led by Dr Pamela McHenry, one of Ireland’s most experienced dermatologists.  The new state of the art clinic offers a comprehensive range of diagnostic and treatment services, bringing together consultants in Dermatology, Plastic Surgery, Allergies, Immunology, Rheumatology, Paediatrics and Cosmetic Dermatology.  The purpose built facility has ten consulting/ treatment rooms and an operating theatre designed to the latest regulations and infection control standards.

Dr McHenry said: “We approached the NIGLF for assistance funding the fit out, equipment costs and working capital requirements for the business.  The team at WhiteRock Capital Partners were fantastic to deal with and very professional." 

“The facility will allow Belfast Skin Clinic to grow and deliver world class care in Dermatology and Associated Specialties across Ireland.”

The loan has successfully helped the Belfast Skin Clinic accelerate its growth plans by assisting with the investment in Northern Ireland’s first full body mole scanner.  The scanner will be able to identify changes in the appearance of moles and help detect skin cancer (melanoma) in the early stages, leading to a significantly better outcome for patients. 

Andrew Gowdy, Senior Portfolio Manager at WhiteRock Capital Partners, commented: “Dr McHenry brings a wealth of expertise and knowledge of the medical sector to her new clinic.  A property which has been left empty for several years has been transformed with jobs being created in the local area.  We were delighted to be part of a funding package that enabled the project to grow from an idea to getting patients through the front door.”

WhiteRock Capital Partners LLP, which is authorised and regulated by the FCA, was established in 2012 to manage the Fund and is owned by a consortium of three partners – WhiteRock Finance Limited, NEL Fund Managers and Clarendon Fund Managers.

Companies seeking funding from the Growth Loan Fund must be based in Northern Ireland, demonstrating growth and generally be in the manufacturing, engineering or tradable services sectors.  Loans will be typically unsecured and personal guarantees will not be sought.

The loans provided are expected to be complementary to existing sources of finance, including banks, trade finance sources and equity investors.  Loans are provided on a fully commercial basis, with monthly loan repayments required over typically a five-year term. 

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Published: 4/18/2017

Growth Loan Fund