A £25,000 loan from Finance Wales is a convenient choice for two Carmarthen retailers
Two successful Carmarthenshire convenience store owners have
expanded their business by purchasing the former Spar store in
Laugharne with the help of a £25,000 loan from Finance Wales.
Rhys Evans and Gordon Miller already
successfully operate a number of convenience stores and filling
Having put up their own capital and secured a
loan from HSBC through the Enterprise Finance Guarantee Scheme, the
pair needed additional finance to make up their total funding
Their accountant Mark Jones of Clay Shaw
Butler introduced them to David Knight of Finance Wales to discuss
“Ever since we first opened in 2004, we’ve
been determined our business would become part of the local
community, so the opportunity to acquire another shop in this
location was too good to miss. We can now stock more of what
our local customers want and we also have more floor space to cater
for the summer holiday trade.
“We’d only been able to secure part of the
finance we needed and Finance Wales’ loan completed the
package. We were able to purchase the shop and refurbish it
to suit our plans,” explained Evans.
Investment Executive, David Knight said: “Rhys
and Gordon are both experienced retailers who’ve built up a strong
business over many years. They know their local market very
well and have many loyal customers. Established local
businesses like this are often the lifeblood of their
community. I was pleased to be able to understand their
expansion plans and help them secure the additional funding they
needed to expand.”
Finance Wales made the loan from the Wales SME
Loans from £1,000 are available from Finance
Wales from a range of funds including the £6 million Wales
Micro-business Loan Fund, £40 million Wales SME Investment 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 micro loans from Finance Wales has
more than doubled during the 2012- 13 financial year.