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Three micro loans from Finance Wales help Elite Fitness get in good shape for the future and celebrate its tenth anniversary

A Cardiff gym which has received three loans totalling £90,000 from Finance Wales is celebrating its tenth anniversary.

Committed fitness enthusiast, Simon Harling set up Elite Fitness in 2003 with the backing of a £30,000 loan from Finance Wales.  A second £30,000 loan three years later helped him to expand his 10,000 square foot Fairwater gym.

2013 saw Finance Wales back Elite Fitness with another loan for £30,000 to equip a new spin room, introduce a new club management system and ramp up its marketing.

Membership has grown steadily over the years and Elite Fitness now offers a comprehensive range of facilities including purpose-built hot yoga and Pilates studios as well as spin, physiotherapy and sports massage studios.

 “Elite Fitness is run by specialists with a successful track record in sports training.  We focus on helping our customers improve their performance and have built a loyal customer base by introducing initiatives like white-collar boxing and small group training.  Our flexible payment options have also helped to increase our revenues.

“Finance Wales invested in us at key stages of our development and its long-term backing has enabled us to build a sustainable business. With the latest investment we’ve been able to improve our facilities and also introduce new systems to increase our operational efficiency,” Harling explained.

Portfolio Executive, Kelly Jones said: “Simon is passionate about fitness and keen to share this passion with others.  He has worked hard to achieve his long-term ambition and Elite Fitness has an enviable reputation locally.  I’m pleased that Finance Wales has been able to back him on this journey and congratulate him on Elite’s tenth anniversary.”

£1,000 - £50,000 micro loans are available from Finance Wales from the £6 million Wales Micro-business Loan Fund as well as the European-backed £150 million Wales JEREMIE Fund. They can help with a range of investment needs, including start-up costs, capital expenditure and stock purchases. Businesses often use them to unlock much-needed additional investment. Finance Wales has a streamlined application process which ensures it can be responsive to businesses’ needs.

Simon Harling holds a number of sports-based qualifications from the internationally renowned British Association of Sports and Exercise Science and The National Strength and Conditioning Association. He lectures in sports science and has worked extensively with cyclists, footballers, squash players, triathletes and runners.