Propel helps Llanishen Rugby Club and Modex Spaces Ltd become a team
“Nobody from Propel shied away from the challenges we were facing, they looked both sympathetically and constructively at solving those issues.”
John Andrews, Secretary, Llanishen Rugby Club
Moves to bring clubhouse and changing room facilities in line with Llanishen Rugby Club’s brand new, state of the art 3G pitch were potentially out of reach after unseen additional excavation costs had stretched their budget and also put new changing rooms in doubt.
A base-level of funding was required for local company Modex Spaces Ltd to get the clubhouse project underway at all, as MD Ellis John explains: “Llanishen approached us to see how we could assist them in staged payments.”
As the project progressed, it became clear that an innovative approach to funding would be required if it was to ever be completed. Propel worked with the club to come up with an agreement which enabled Llanishen to get some assistance with initial funding.
John Andrews, Club Secretary, said: “Having to dig into the ground, and having to establish something with flood lighting so close to a residential area – it all created extra cost and meant we had to go back to the calculator and start adding up again. Nobody from Propel shied away from the challenges we were facing though, they looked both sympathetically and constructively at solving those issues.”
Matt Jones, Head of Asset Finance at Propel Finance, said: “We are delighted in this instance to have been able to support a project which not only benefits the sports club and contractor at hand, but also the school who share the facility and effectively an entire local community too. Drawing on our own lending book gives Propel much greater flexibility when it comes to providing finance generally. Our approach here has played a vital role in securing the future of a historic local club following a period of unprecedented investment.”
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