Success Story
| Region/Nation | Yorkshire and Humber |
|---|---|
| Programme | Bounce Back Loan Scheme (BBLS) |
| Partner |
Like the rest of the hospitality industry, this microbrewery had no option but to close its doors once the government lockdowns began. With its income massively depleted, and serious concerns over its ability to survive the pandemic, the business sought financial support via the Bounce Back Loan Scheme (BBLS).
Read what it had to say in this BBLS case study.
British Business Bank: Can you tell us what your company does?
Matthew Steer, managing director of Little Critters Brewing Company: It all started in 2012, when we took our love for cask ales and our dream of opening a microbrewery and started the addictive journey of home brewing in the kitchen at home. Fast forward to early 2020, and we’re settled in our unit in the Kelham Island area of Sheffield and continuing to grow the business with new processes, new kit, new recipes and a stable plant with a great team.
How did COVID-19 affect your business, and why did this mean you needed funding?
The lockdowns to tackle the spread of coronavirus have completely shaken the hospitality industry, and our business was among the many victims. As soon as the government closures came into force, we had to close the brewery, which meant we lost all our income aside from what we were making from our online sales. This had a big impact on our cashflow, and we were concerned about our ability to survive.
How did you find the application process?
Once we decided to approach Barclays about the Bounce Back Loan Scheme, we completed our application, and received the £50,000 of funding we needed, all in the space of 48 hours.
We’ve invested heavily in the business over the last couple of years. With the Bounce Back Loan, we’re now confident we can survive these challenging times and return to profit when more normal trading returns. Matthew Steer managing director of Little Critters Brewing Company
In what way did the funding help your business survive?
Setting up Little Critters has been a dream come true for us, so we were thrilled when we were able to access a Bounce Back Loan. We’ve invested heavily in the business over the last couple of years and, with the loan, we’re now confident we can survive these challenging times and return to profit when more normal trading returns.
More success stories
Read a success story about Salesfire
Salesfire – a Middlesbrough company whose platform helps e-commerce stores to increase sales - has raised a further £2.75m from NPIF II – Mercia Equity Finance, which is managed by Mercia Ventures as part of the Northern Powerhouse Investment Fund II (NPIF II).
Read a success story about Claro Hill Vets
A North Yorkshire-based veterinary practice has secured £90,000 from NPIF II – BEF, which is managed by Business Enterprise Fund (BEF) as part of the Northern Powerhouse Investment Fund II (NPIF II). The funding also came from BEF’s Community Investment Enterprise Fund 2 (CIEF2) backed by Lloyds Bank and Better Society Capital.
Read a success story about Panacea Children Services
The North West’s leading provider of specialised therapeutic services for children has received a significant six figure investment to increase its number of homes in the North West to eleven as part of a three year strategic growth plan.