Action for Wiltshire press release - small business loan success

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23 May 2011

The first businesses in Wiltshire to receive finance under a new initiative to support start-up and existing small enterprises in Wiltshire, are now benefitting from that help.

The first of the loans, targeted at businesses unable to access credit through the normal banking system, was awarded to Trowbridge-based Occasions for Balloons.

The scheme is being delivered by the Fredericks Foundation with financial backing and support from Wiltshire Council, GWE Business West Limited and The Wiltshire Assembly through the Action for Wiltshire programme. Action for Wiltshire was set up to tackle the effects of the recession and prepare for economic recovery.

Occasions for Balloons is a balloon supply and events decoration business owned by Mike and Carol Flute. For several years the business had been operating from their home while they both held full time jobs. Carol was recently made redundant and at the same time a suitable premises became available in the new Gateway retail centre in Trowbridge. They felt it was the right time to make the leap into self-employment and take the business forward.

The business has gone from strength to strength with the addition of gifts and cards. The Fredericks Wiltshire loan they received was needed to keep the business moving forward and also factor in future growth. The reputation is growing daily with clients such as Bath Rugby and Debenhams.

The second loan went to Absolute Rubbish. The loan helped the owner, Peter Fitchett, buy a signwritten tipper van for his business which is based in Swindon Wiltshire.

Peter’s business will initially provide collection for households and commercial waste with plans to expand later into breaking up driveways and removal of domestic appliances.

"Fredericks Foundation is delighted to have made some loans in Wiltshire. Our fund is available to help any good business, so I would encourage people to get in touch for more information. Businesses are already making use of loans they have received from Fredericks Wiltshire to help create new jobs," said Terri Stevenson, client manager for Wiltshire.

The Fredericks Foundation is a charity dedicated to supporting small-scale enterprise by providing loan finance where banks are unable to help. The scheme has been operating in other parts of the country but is new to Wiltshire. To be considered, a company must be able to demonstrate that an application for funds to a bank or mainstream lender has been turned down.

Mike Flute, from Occasions for Balloons, said: “This loan from Fredericks Wiltshire will make a major difference to us. We are getting more event bookings and need to invest in equipment which will enable us to meet the needs of our customers and grow the business. I am sure there are other local companies which would benefit from such a scheme and we would encourage them to contact Fredericks to see if they can help them.”

Alistair Cunningham, service director – economy and enterprise at Wiltshire Council, said: “Wiltshire Council and its partners are delighted to be working with the Fredericks Foundation. The current climate is still very challenging, particularly for small enterprises, and some are being refused finance from their bank even though they are a viable business. This initiative is one of the ways we can support Wiltshire businesses through this period of economic recovery.”

Last updated: 13 June 2011