Find out how
Duncan Living Care Group* has been with St.George for over 10 years. Recently they renovated one of their nursing homes, a single storey 43-bed facility. They took three years to plan the major renovation project including securing council permission and a further year to complete the renovations. St.George funded the facility upgrade and extended the company’s overdraft facility so they could provide alternative accommodation for their residents during the renovation.
“When I first started out, St.George was the only bank who talked about relationship banking. I’ve had the same Relationship Manager for over 9 years now and he’s supported me through both the prosperous and lean times”, says Duncan Living Care Group’s Managing Director Edward Duncan.
At the same time as the renovations were taking place, the opportunity to purchase the neighbouring property to another of Duncan Living Care Group’s nursing homes came up for sale. “I was on the phone to my Relationship Manager at 10am and the deposit was down by 3pm the same day,” says Mr Duncan.
St.George provided the company with funding to buy the land as well as construction and fit-out finance to extend the existing nursing home across the second block. We also released cash flow to allow them to buy additional bed licences to extend the nursing home.
Coupled with this, we provide their staff with workplace banking packages offering savings on transaction accounts, home loans and investment loans. This assists the company in offering a tangible value add, helping them to attract and retain quality nursing and administrative staff.
* The company depicted in this scenario is fictional however is representative of a number of St.George customers.