04/02/2016

Cardiff costume supplier has micro loan approved in 2 days using Finance Wales’ new streamlined application process

When the opportunity to acquire the costumes used in a medieval television drama came up, the owner of Cardiff-based Marigold Costumes (Marigold) approached Finance Wales for a £5,000 micro loan to help fund the purchase.

The new costumes are a welcome and valuable addition to the company’s existing stock of over 95,000 costumes.

A major costume supplier, Marigold has built up an excellent reputation with film, television and theatre companies.  The company also supplies the education sector and has a thriving fancy dress business.

Explaining the importance of the purchase, Dawn Thomas-Mondo, a Bafta-nominated costume designer and Marigold’s owner said: “We used a previous loan from Finance Wales to start up Marigold Costumes in 2005 and this loan has helped us take advantage of an opportunity to buy some new costumes which will provide us with a valuable future income stream.

“Finance Wales understood that buying these costumes was an excellent business opportunity for us and that we needed to act quickly to bid for them.  We filled in a simple form and they approved our application within 2 days.  We were then able to purchase the costumes and we’ve already started hiring them out.”

Rhiannon Brewer, Senior Investment Executive in Finance Wales’ micro loans team added:  “Marigold Costumes is now a well-established and highly regarded business run by an experienced, award-winning costume designer.  Buying these costumes was an excellent opportunity for Dawn and her team and they’ve already attracted a lot of interest with customers.

“Eligible businesses needing a cash injection of £1,000 to £5,000 can now benefit from Finance Wales’ streamlined two-day process, helping them to get their plans underway quickly or take advantage of new business opportunities.”

Eigible Welsh SMEs can apply for microloans of between £1,000 and £50,000 from Finance Wales, while businesses that have traded for over 2 years can apply for a loan of between £1,000 and £5,000 using Finance Wales’ streamlined two-day application process.

The streamlined application process applies to loans from the Welsh Government-backed Wales Micro-business Loan Fund and is available until further notice.

SMEs wishing to apply for micro loans and other investments should contact Finance Wales on 0800 587 4140, e-mail info@financewales.co.uk or visit our Micro Loans page