Pursuit Training Turns To P2P To Expand

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Audrey White
28th July 2015

In its work providing apprenticeship training for people interested in health and social care professions, Pursuit Training aims to raise standards of care by providing the best education possible.

The apprenticeship market continues to grow — the government just committed to support another 3 million apprentices through contracts like those at Pursuit Training. And Pursuit’s commitment to positive values informs every aspect of their work. With a loan through rebuildingsociety.com, Pursuit Training hopes to refinance two loans that are slowing the business’s growth because of their high interest rates.

A Secure Opportunity

Because Pursuit receives both funding and extensive auditing from government organizations, its directors are confident that it is a well-vetted and secure opportunity. And their finances are in good shape.

“We currently hold yearly rolling contracts, with 2 direct contracting organisations, and one held directly that total over £2 million and have the opportunity to increase these depending on our ability to deliver increased volumes,” explains Managing Director Steve Horler. “All of our work in 2015 will secure income for 2016 as income is secured for 12-18 months at a time.”

In addition to government contracts, Pursuit has commercial revenue streams from its large customer base together with contracts held with national organisations and a direct Advanced Learning Loan contract.”

And, Pursuit can offer security by the way of a commercial property or directors guarantee. Pursuit is offering a second charge to support the loan.

A Growing Industry

The government continues to invest heavily in the apprenticeship sector, and Pursuit sees strong opportunities for growth in the next two years.

“It is well publicised that this is one government department that will go against the grain and be increased rather than cut as part of the upcoming spending review,” Horler said. “The Advanced Learning Loan contract allocation is currently both under-allocated against government budget and underspent by those with a contract meaning massive headroom for growth of these contracts.”

Our lenders are excited about this application — it has been more than 95 percent funded in under a week. It has 7 days left in the marketplace for bids to be placed, so head over to find out more about this opportunity.

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