Coronavirus (COVID-19) Support for Businesses

Preschool prepared for brighter future thanks to £85,000 CBILS-backed investment

Bradford’s Parkview Childcare Limited set for children’s return to education following an £85,000 CBILS-backed loan from BEF.

Parkview Childcare Limited has successfully safeguarded 12 jobs and created 4 more, whilst creating an additional room and developing an enhanced ‘all-weather’ outdoor classroom thanks to an £85,000 CBILS-backed investment from BEF.

Parkview Childcare Limited is an educational pre-school, established in 2010 by Samantha Williams. For the last decade, the team at Parkview Childcare have provided a caring and nurturing childcare environment where all parents feel confident that their child is happy, learning, and well cared for.

Samantha Williams believes the success of the setting is down to their childcare ethos, “We strive to put all of our children and family’s needs at the heart of the setting.” Their purpose-built childcare setting is designed to provide children with a homely atmosphere that enables their curiosity, creativity, and natural instincts to explore the world around them.

When the Coronavirus pandemic hit in March 2020, Parkview Childcare followed government guidance and closed their doors. They used this time to renovate their setting with the addition of a brand-new indoor classroom and an enhanced outdoor provision area to provide an all-weather classroom.

Parkview Childcare reopened for children of keyworkers after the first lockdown, four weeks after the renovations were completed. Whilst this was a welcome step towards a return to normality, the lockdown had caused uncertainty due to a decline in bookings for the Spring and Summer term.

Like many small businesses, Parkview survived the initial lockdown with the help of a government-backed Bounce Back loan, the furlough scheme, and business interruption insurance. Despite this, the extended lockdown meant they required additional working capital to mitigate the drop in income.

Having approached BEF for additional support in January 2021, Parkview received an £85,000 CBILS-backed loan in February 2021 which provided £35,000 in working capital following the repayment of their £50,000 Bounce Back loan. The BEF investment enabled Parkview to safeguard 12 jobs and create an additional four jobs.

Samantha added, “The loan has allowed us to settle outstanding bills and provide a good cash flow to help us overcome the reduced numbers. We have invested in new resources to ensure we are competitive with other nursery providers. BEF, showing an interest in supporting our business, has been a huge help and provided the security we felt we needed to invest into the future of the business.”

Hilary Watson, Investment Manager commented, “Parkview Childcare is a well-equipped and run setting at the heart of its local community. It was a pleasure to support them through this difficult time as they work to provide a quality education to young children while managing the impact of the ongoing lockdown. I have every confidence in their immediate and future success.”

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