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Planting the seeds for future growth: Acton Bridge Garden Centre awarded £50,000 from the NWDA
20 May 2009
The Northwest Regional Development Agency (NWDA) continues to offer financial assistance to a range of regional businesses that are struggling to survive in the current financial crisis.
Northwich-based Acton Bridge Nursery and Shrub Centre has been awarded a £50,000 loan as part of the Agency's 'Small Loans for Business' programme.
Established in 2007, Acton Bridge Nursery and Shrub Centre supplies horticultural products to the retail sector.
Keen to expand and with ambitions for further growth, the venture ran into trouble after they were refused a traditional loan.
Despite sound business plans, which included details to create jobs for local residents through the development of a coffee shop and farm store, and the support of their local MP, Acton Bridge was unable to obtain additional finance to supplement the substantial amount of personal capital that had already been put into the business.
With help from the NWDA and Business Finance Solutions, small loans for business fund manager, Acton Bridge will now be able to expand into the lucrative wholesale market, with products ready for sale in time for the high seasonal demand in summer.
Mark Hughes, Executive Director of Economic Development at the NWDA said:
"Thanks to Business Finance Solutions and the simple application for a Small Loan for Business, Acton Bridge is now well on the way to what we hope will be a successful and profitable future for David and his team.
"The NWDA's Finance for Business activity is part of the Agency's drive to ensure that Northwest businesses do not suffer unnecessarily at the hands of the failed banking system. There are various types of finance available for different business needs and stages of development. We also provide access to networks of expert information and advice via Business Link Northwest."
David Hodkinson, Director at Acton Bridge Nursery and Shrub Centre (CW8 3PZ) said:
"As an independent retailer catering for the local market, we are delighted with the assistance given to us by the NWDA...
"...Since receiving the loan we have been able to action a number of projects, building new tunnels enabling us to grow from seedlings for the wholesale plants market, and also to Fund our new Coffee Shop.... Things are going really well for us, despite the current economic conditions and without the funding we would certainly have not survived. We have just taken on a further full time member of staff, and its all hands on deck."
The Small Loans for Business scheme is designed to help Northwest business owners, entrepreneurs, charities and social enterprises start up and expand their businesses. It provides small loans of between £3,000 and £50,000 to new and growing businesses, charities and social enterprises. It was set up to encourage and make it easier for more people to start up and grow their own enterprises in the region. The scheme is funded by government, the NWDA and private sector partners, so is a credible and stable way to fund your organisation's growth.
The NWDA is playing a crucial role in response to the current economic downturn, with a number of actions being taken to meet the needs of businesses during these financially challenging times. To keep updated on the range of support being offered by the NWDA go to www.nwda.co.uk/supportingbusiness
For more information on business support visit www.businesslink.gov.uk/northwest
For more information on Finance for Business please visit www.nwdabusinessfinance.co.uk
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Notes to editors
Acton Bridge Garden centre is working with Book Keeper Tracy Webb, tracy.webb@dsl.pipex.com order to monitor progress and foresee any cash flow problems before they arise.
The 'Small Loan for Business' application was supported by Business Finance Solutions, a community development finance institution. Business Finance Solutions is the trading name of The Enterprise Fund Ltd Business Finance Solutions has been set up to provide loans to entrepreneurs living in Manchester, Salford, Stockport, Tameside and Trafford and the county of Cheshire who have been refused commercial loans by mainstream lenders. The fund is designed to meet the needs of start-up businesses, existing businesses and Social Enterprises. www.business-finance-solutions.org.uk
For further information please contact Shelley Tattersall, Press Officer on 01925 400256 or mobile 07500 128482 or shelley.tattersall@nwda.co.uk
For urgent out of hours press enquiries please call 01925 400259.
For further information and to view previous press releases visit us at www.nwda.co.uk/press
The NWDA is supporting businesses and prioritising investments to ensure that the Northwest is in a strong position to respond to the current economic climate. Initiatives include:
• The launch of a £10m High Growth business support
programme
• A new £4m Innovation Voucher Scheme to help 1,000
businesses work with our knowledge base
• Dedicated Access to Finance support within Business Link
Northwest - now available
• £140m Venture Capital Loan Fund (VCLF) - to be
launched in 2009
• £40m package of support to stimulate investment in
priority skills development - to commence in 2009
• 10 day prompt-payment pledge to our suppliers to help with
cash-flow
For more information, see nwda.co.uk/business
The Northwest Regional Development Agency (NWDA) leads the economic development and regeneration of England's Northwest and is responsible for:
• Supporting business growth and encouraging investment
• Matching skills provision to employer needs
• Creating the conditions for economic growth
• Connecting the region through effective transport and
communication infrastructure
• Promoting the region's outstanding quality of life
