HSBC UK, which has a £1.1 billion lending fund to support small and medium-sized enterprises across the West Midlands, has provided a commercial mortgage package to the AURA Dance Studio, allowing the Solihull-based ballroom and Latin dance school to acquire the studio it has rented for the last five years.
The dance school, run by Martin and Carol Cutler and their children Charlotte and James, opened in 1994 and now sees 500 students a week across its ballroom, Latin and fitness classes.By purchasing the studio, the Cutler family has secured the future of the dance school, enabling them to make improvements to the studio space, including a new reception area.
Martin Cutler, AURA Dance Studios Director, said: “We’ve seen a massive uplift in interest in dance in the last ten years, both recreationally and professionally. We’ve developed a high standard of teaching at AURA and are thrilled that HSBC UK has backed the business, in turn enabling us to continue expanding the school. Our HSBC UK Relationship Manager Dominic Smith supported us throughout the application process and demonstrated his clear understanding of our business and aims.”
Stephen Peart, West Midlands Business Banking Area Director of HSBC UK – which is the Press Club’s overall sponsor - said: “We were delighted to be able to support AURA Dance Studio in purchasing the dance school, which gives the business the security to focus on expanding and improve its dance offering. Dance continues to increase in popularity and AURA has a bright future ahead of it.”
AURA Dance Studio is one of the biggest dance schools in the country and attracts world-class dancers from across the globe, alongside its popular classes for toddlers and adults.
Pictured, left to right, are James Cutler (AURA Dance Studio), Tony Seaton (Blue Sky Corporate Finance), Martin Cutler (AURA Dance Studio), Charlotte Cutler (AURA Dance Studio) and Dominic Smith from HSBC UK.