BEF Dig in
BEF help social enterprise
Stained Glass Windows
Stained Glass Vision
With many years' experience of buying and selling antique glass, Paul Arron decided to start providing stained glass products himself. Because he had been a nomad for a number of years, the banks were unable to provide a loan. Paul approached BEF and asked if we would consider providing a small loan for him to rent some premises and buy some stock.
BEF looked at his plan and at some of the work he had done and decided that we would provide a small loan for working capital. Paul took the loan and has now developed a thriving business providing stained glass windows and other related products for domestic and commercial use.
Anzeck Biodegradeable
Anzeck Biodegradeable Plastics are a leading manufacturer of green packaging solutions to a wide range of industries. They have been trading in the Bradford area for over twenty years, and have won a number of awards for their excellent service and products.
The company had no debts other than their overdraft and owned buildings valued in excess of £1 million. However, when the credit crunch struck, some long established clients started taking longer to pay their bills. Also, because of the increase in oil prices, Anzeck had to start bulk-buying plastic at inflated prices. Consequently, their overdraft facility became an essential life-line. Still, their bank of 15 years sliced £30k from their overdraft facility and started charging 29% for amounts exceeding the reduced overdraft facility. Moreover, despite the introduction of the new Enterprise Finance Guarantee, the bank would not consider converting the overdraft into a loan. The owners did not know what to do and they approached us for help.
The Business Enterprise Fund established Anzeck’s financial position, helped restructure the business and the debt, put in place a cost reduction programmes and streamlined its operations. We also provided Anzeck with a loan of £70k to service existing orders and arranged for the company’s forecasts to be presented to a number of other banks, all of which offered them a vastly improved overdraft facility.
Through the intensive support provided and the assistance to improve their productivity and efficiency, Anzeck have now been able to source mainstream lending and our loan has been repaid.
Fancy a Tipple
Many people dream of having their own Brewery especially students who seem to spend a lot of time in there during their student years. This was definitely the case with Michael and Sam. They developed a passion for real ale and dreamt of being able to set up their own brewery.
In 2007 Sam and Michael took the plunge and decided to set up their first pub. A micro brewery in the heart of the up and coming Holbeck village area of Leeds. The midnight Bell.
Within a very short space of time it became clear that the demand for their products was there and they needed to expand. With help and advice from the directors of York Brewery they located a new spot near to Leeds station.
Regrettably their ambitions to grow were perfectly timed with the credit crunch and as a consequence their friendly neighbourhood bank was no longer able to provide the support they needed.
Having being recommended to them by their bank they approached BEF for further funding. Having reviewed their management accounts and drafted a new version of their business plan the credit committee decided that this was a great opportunity to support and new and growing venture. The loan of £60k was to help finish the development of the next site.
Having received the funding they are now looking to open the pub opposite Leeds station on the 9th of November. The brewery of the lager will be on site and people will be able to see the beer brewed even as they drink it.
Producer of novelty clocks improves their competitiveness
Rig Out produces, wholesales and retails novelty clocks. Originally started as a hobby in 1999 by Matthew and Paula Firth the company has been run on a full time basis since 2004. The company has developed a strong customer base mainly to the gift trade and a reputation for original and funky designs.
In order to move the business forward they needed to expand their manufacturing capacity and decided to move some of this overseas. The Business Enterprise assisted Rig Out with the necessary funding to enable them to this. This move has enabled them to be more competitive and has had a very positive effect on sales. Rig Out are currently talking to potential new customers from around the world.
In addition to supplying the trade, Rig Out also have website which sells direct to consumers.
http://www.rigout.net
Palm Cove Society increases its accomodation capacity
Palm Cove Society is a social enterprise which provides temporary supported housing for vulnerable women and children. It started with one house with space for three women in October 2007. Within three months it had increased its housing stock to five houses and opened its first house for vulnerable men. However, its first priority remains to provide immediate supported accommodation for women and their accompanying children.
They are unique in this sector providing primary care, guidance and support on lifestyle and health related issues to all its clients in addition to providing accomodation. Palm Cove promotes lifelong learning through collaborative involvement with local training and development facilities. Their clients are encouraged to engage in training and employment and Palm Cove has close relationships with the Light of the World which provides English language training.
In order to be eligible for housing clients must be homeless and the referral has to be made by one of their key partners. Clients are allowed to stay with Palm Cove under licence for 12 months but the majority move on to permanent accommodation after 3 to 6 months.
The friendly and informal atmosphere of its houses has encouraged the engagement of clients in the running of the houses and the development of their own community.
The business will continue to grow in 2008 with another 2 houses expected to be online by the end of January 2008 providing accommodation for up to 24 people. Further expansion will take place throughout the year, with total accommodation capacity expected to reach 30 spaces by summer 2008.
