Loans fund goes over £1m mark
Published at 11:35, Tuesday, 30 June 2009
HELP for a Barrow firm pushed a special loans fund for Cumbria over the £1m for the first time.
The Cumbria Asset Reinvestment Trust made its latest loan to Corporate Care Furness Limited, a domiciliary care provider based in Barrow.
Business owner Jakki Kelly needed the CART loan to enable her to buy out the previous owners of the business.
She said: “It is a successful operation delivering essential care services in and around Barrow, but the owners wanted to move on.
“I had been managing it since 2005 and we have almost 20 staff.
“I was keen to secure the jobs and our services to vulnerable adults for the future, but the timing – with the credit crunch – was all wrong and I couldn’t get a loan from the bank to help me buy the business.”
She added: “When I talked to Val Robinson at Furness Enterprise, she referred me to CART.
“ The loan from them has made this possible and I now feel very responsible for everyone but I also have control over our future as a company.”
The Cumbria Asset Reinvestment Trust is Cumbria’s local Community Development Finance Institution. It provides business loans to borrowers in Cumbria who cannot obtain all their financial requirements from their bank.
CART loans range from £1,000 to £50, 000, usually repayable over between six and 60 months, and its financial support comes mainly via the Northwest Regional Development Agency.
The organisation has a team of four based in Penrith.
To mark the £1m milestone, Furness MP John Hutton met Jakki and with CART chief executive, Grahame Latus, at the Corporate Care premises in Barrow.
Mr Hutton said: “Any developing business needs support to set it on its way.
“CART provides that and plays a vital role in supporting businesses when they most need it.
“ £1m of investment in jobs and local businesses is a significant milestone and I want to congratulate CART and wish them and the businesses they support all the very best for the future.”
Mr Latus said: “We have now helped over 100 Cumbrian businesses with loans in the past four years, and they cover the full range of sectors and size
“Preserving or creating jobs is a priority at the moment and many of our clients are using CART loans to do just that.
“Jakki is typical of the local business owners who need practical financial support to enable them to shape the future of their companies.”
To celebrate the £1m milestone CART donated a bottle of champagne to Jakki and her team plus a cheque for £100 to their chosen charity, the Barrow branch of The Alzheimer’s Society.
The CART team says it is now looking forward to working with the next 100 companies in the coming months and years.
Further information is available at www.ccart.org.uk.
Published by http://www.nwemail.co.uk
More Millom news
- Probe under way into Cumbria housing estate ‘health hazard’ leaks
- Percussion demo in Millom has positive impact
- Last respects paid to Millom poppymaker Mary
- Power tools and bike stolen in Millom burglary
- Police investigate Millom assault
- £7,500 pledge to help make Millom ‘danger’ park fit for purpose
- Hundreds lap up Millom Infant School summer entertainment
- Millom Post Office will be closed for up to three weeks during revamp
- Residents of flood-risk Millom set to get emergency plan
- Fond tributes to Millom poppy appeal heroine
- Millom dad walks 97 miles to highlight tot's plight
- Millom sex offender jailed for three years after targeting children
- Praise for Millom project promoting public health
- Anger over inaction on disabled stairlift at Millom Town Council chambers
- New organ donors sign up within minutes of Millom group's campaign launch
- Disabled access row at Millom Town Council chambers (1 comment)
- West Cumbria residents anger as prison sewage system leaks (1 comment)
- Millom brothers cleared of neglecting mother (1 comment)
- Man left with cuts and bruises after assault in Millom
- Millom cyclist can’t wait for race close to home
- West Cumbria mayor’s political adviser fought to be area’s MP
- WITH VIDEO: South Cumbria horse Skye back at home after sickening paddock sex attack
- Skate park boss and Millom council at loggerheads over contract row (3 comments)
- Fears over ‘disgraceful’ cuts to Millom teenage support services (1 comment)
- Millom double death inquest concludes
Evening Mail homepage
F. Dickinson footwear
Homes and gardens 22