Llanelli RFC coach, Louie Tonkin sets up CrossFit Carmarthen with the help of a micro loan from Finance Wales
A £6,000 micro loan has helped Llanelli RFC’s new conditioning
coach, Louie Tonkin set up CrossFit Carmarthen.
Tonkin combined the micro loan with his own
money to set up the gym which is targeted at amateurs and
Located on Anthony Way in Carmarthen, CrossFit
Carmarthen provides a range of facilities and classes for
individuals and groups using the CrossFit strength and conditioning
“I’m passionate about the CrossFit programme
and have been keen to set up my own gym for some time. I was
able to combine the loan from Finance Wales with my own money to
cover my start-up costs and get the business off the ground.
I was impressed by the application process - David Knight from
Finance Wales is based locally and he took time to go through my
plans with me,” explained Tonkin.
Investment Executive, David Knight said: “I’m
pleased Finance Wales has been able to help Louie achieve his long
term ambition to set up his own gym. CrossFit Carmarthen is
the type of small, local business that really benefits from micro
finance. Louie is committed to making a success of his new
venture and our micro loan has given him the boost he needed.”
Richard Jones of Antur for Business introduced
Louie and David.
Finance Wales made the loan from the Wales
Micro-business Loan Fund.
£1,000 - £25,000 micro loans are available
from Finance Wales from the recently launched £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.
Demand for loans of up to £25,000 more than
doubled during the 2012- 13 financial year.