We’re delighted to announce that we have accessed a £250k CBILS loan from Funding Circle. Funding Circle is a peer to peer network and one of the best-capitalised lending platforms in the world. They are accredited by the Government-owned British Business Bank to provide loans under the Coronavirus Business Interruption Loan Scheme (CBILS).
Our FD Mike Sartain said “Despite being well-resourced and financially secure, we have taken this loan as an insurance policy for our shows, so that in the case of Covid-19 related cancellations or postponements, our clients can rest assured we have the resources needed to run the shows in future. We also want our clients to be able to book into our current shows with certainty. This loan has enabled us to give them our own Covid booking guarantee.”
Mike continued “We have grown organically over the last 30 years, and we know how important it is to be prepared and create confidence for our clients until we see the economy recover.”
We organise a mix of shows in the SW region, mainly for trade buyers of gifts and food & drink, so increased staycations will mean increased business, but only once we overcome the challenges that Covid-19 has presented to the events sector. We remain optimistic and, with our main events postponed until May and June of 2021, can see light at the end of the tunnel (and it isn’t just a train coming the other way!).
To view the press release – click here.
