South West Investment Group (SWIG)
Region: South West
Programme: Coronavirus Business Interruption Loan Scheme
Government guidelines implemented to tackle COVID-19 meant cookery school Little Kitchen had to close its doors. With a much-needed relocation to new, larger premises already underway, the business required a boost of working capital to stay operating. For this, it applied to the Coronavirus Business Interruption Loan Scheme (CBILS).
Read what the business had to say in this CBILS case study.
British Business Bank: Can you tell us what your organisation does?
Madeleine Joanes-Owen, co-owner of Little Kitchen: Little Kitchen is a cookery school that offers cookery workshops to people of all ages. We’ve also introduced recipe boxes for our customers who haven’t been able to attend workshops due to the pandemic. We operate from our new premises in Totterdown.
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?
Due to COVID-19, and in line with government guidelines, we were forced to temporarily close our doors. During this time, we relocated to our new premises, which is in a better location and more suited to our needs for the future.
South West Investment Group (SWIG) had already supported us with the relocation, but the additional backing through CBILS has provided us with the working capital we need to stay operating during the shutdown and reopen at our new premises.
How long did the application process take? Did you need any support?
The process from application to approval took two weeks from start to finish. Our business manager at SWIG was amazing and provided all the help we needed to successfully access the CBILS loan.
The CBILS loan has enabled us to focus on business after COVID-19. It’s really helped us keep the business functioning, and given us peace of mind at a very stressful time.
Madeleine Joanes-Owen, co-owner of Little Kitchen
How has the CBILS loan helped your organisation to weather the outbreak? And what might have happened if you hadn’t received it?
By covering our capital costs during lockdown, the CBILS loan has enabled us to focus on business after COVID-19. It’s really helped us keep the business functioning, and given us peace of mind at a very stressful time. The working capital we received also supported our existing plans to relocate to larger premises, a move which was much-needed if we were going to meet growing customer demand.
If we hadn’t received the loan, it would’ve taken our business much longer to recover from the financial impact of the pandemic. Our relocation plans would’ve been jeopardised and we would’ve struggled to put in place the changes we needed for the business to continue as before.