Read their stories...
Babeco Ltd
Reusable Nappies and Eco Baby Products
A social enterprise based in inner city Bristol
£10,000 Expansion Loan
“When the loan was agreed it gave the business the stamp of approval needed to help Babeco succeed”
We went to BEDF for an expansion loan of £10,000 in 2005 when we employed 4 people part-time and had a turnover of £17,000. This has now grown to around 20 employees and 5 times the turnover.
The Enterprise Development Fund loan panel was able to see the bigger picture when considering the risk of backing us. When the loan was agreed it gave the business the stamp of approval needed to help Babeco succeed. As a result we were able to pull in funds from other sources too. Borrowing money was so important to our development and the BEDF loan was far more flexible than other kinds of enterprise finance that we considered.
Now, two and a half years on we’ve even got customers in Australia! We want to expand our product range and our market so we are applying for another business development loan from BEDF to enable us to grow even more.
Elaine Randall
Managing Director
News Update - Summer 2008
Babeco Limited has just been given a second BEDF expansion loan to develop their organic fabric trade. They continue to go from strength to strength.
Southern Engineering UK Ltd
Air Conditioning Installation
Limited company based in North Somerset
£7,500 start-up loan
“BEDF was extremely helpful throughout and the 3 members of the Loan Panel created a comfortable but professional atmosphere for us to explain our plans.”
Our business aims were to:
- Supply, install, and maintain air conditioning systems and associated equipment.
- Supply a high quality survey, design, or consultation service.
- Offer a maintenance service for client’s existing installation or as a continuation to our own work
- Run a 24 hour Call Out and Breakdown Service.
The original plan was for slow and progressive growth as we were limited by cashflow. Due to a rapid number of confirmed contracts we realised we needed cash injection to set up the company so we applied to BEDF for a business loan. We were able to present our application within three weeks of the initial contact. The people at BEDF were extremely helpful throughout, especially on the format of our presentation to the Loan Panel. The three members of the Panel were very professional but created a comfortable atmosphere for us to explain our plans.
We were told we would be notified of the panel’s decision within a few days but within a few hours we were contacted by the Fund Manager, who said the panel felt that a £2500 loan was not be enough to enable the planned growth. They offered £7500 instead!
From the outset of the loan BEDF has provided a business mentor who is supportive and encouraging. It really helps to have the chance to discuss things and have skilled guidance and independent advice with no pressure or demands. In conclusion the BEDF has been, and continues to be, constantly helpful and supportive to our business.
Derrick Cottrell
Managing Director
Dangling Carrot Ltd
Public Relations
Limited Company based in Bath
£3,000 Start-Up loan
“We borrowed from BEDF to start Dangling Carrot. The company simply wouldn't be here without this fantastic city resource”
Dangling Carrot owes much to BEDF and its team of experts. From early business planning to start-up funding, the company simply wouldn't be here without this fantastic city resource. Even today, long after our original contact, I know that their independent counsel is available should I need it. We employ 3 full time staff and the business is still growing. Our turnover has quadrupled since year one and we have a nation-wide client base.
Tierney Fox
Managing Director
Bertoldi
Dressmaking and Alterations
Sole Trader in North West Bristol
£7,000 Start-Up loan
“I received lots of very positive help to get my business up and running. Thanks!”
I had a business stat-up loan from BEDF in early 2007. The business is now exceeding all my expectations. After trading for only 4 months I took on another person as I had so much work and now I employ 2 more staff. The location of the shop premises, that I was able to lease because of the loan, is perfect. I received lots of very positive help from BEDF to get my business up and running and my business mentor has been fantastic. Thanks!
Barbara Bertoldi
Proprietor
David Staynings
Mobile Locksmith
Sole trader in East Bristol
£1,000 Fast Track loan
I had a Fast Track loan for £1,000 to start the business in January 2005 and it’s been growing slowly but steadily since then. I’m not making millions but I’m making a living!
David Staynings
Proprietor