Programme: Coronavirus Business Interruption Loan Scheme
As owner and operator of several establishments throughout Cardiff, Croeso Pubs was hit hard by the pandemic and the government shutdown that followed. Needing cashflow to save employee jobs and protect its supply chain, the business sought support via the Coronavirus Business Interruption Loan Scheme (CBILS).
Read what it had to say in this CBILS case study.
British Business Bank: Can you tell us what your organisation does?
Craig Davies, company director of Croeso Pubs: The company owns and runs a number of pubs and clubs in Cardiff, including The Philharmonic, The Brewhouse and Retro Lounge.
The coronavirus has affected a huge number of businesses across the UK. What problems were you facing as a result of the outbreak and what made you apply for CBILS support?
COVID-19 hit at the wrong time for us and took away all our income very suddenly. We needed financial support so we could keep employees, creditors and suppliers fully paid.
How long did the application process take? Did you need any support?
We were able to agree the CBILS loan very quickly, and receiving it was vital in allowing us to get through this tough period without our usual cashflow. We had support from our relationship director at Barclays, Jason Llewellyn, who took a genuine interest in our business and showed that he understood our needs.
We’ve worked hard to develop a strong business and motivated team. Receiving the CBILS facility means we can secure around 120 jobs within the local community and also gives the business vital liquidity at a difficult time.
Craig Davies, company director of Croeso Pubs
What advice would you give to other businesses that are applying for a CBILS loan?
Having a bank manager who gets close to what you do very much increases your chances of getting stuff done quickly.
How has the CBILS loan helped your organisation to weather the outbreak? And what might have happened if you hadn’t received it?
We’ve worked hard to develop a strong business and motivated team. Receiving the CBILS facility means we can protect around 120 jobs within the local community and also gives the business crucial working capital at a difficult time.