£150,000 UK government loan launches Cardiff climbing centre

Hi, I'm Rob Lawrence I'm the Managing Director of Boulders and Boulders is a climbing centre

Yes, we do a whole range of climbing activitiesfrom preschool kids all the way up to [unknown]and we've got an online store as well for climbing equipment We've had a really great start We just celebrated our third birthday

We opened in 2008 and considering we [unknown]we've managed to keep our heads above water quite comfortably The largest government grant we've had The largest government funding we had was a SFLGwhich is Small Firms Loan Guarantee We approached a number of High Street banks to get this with our business planand it was rejected by a few of them Eventually we managed to secure one [unknown]

and that [unknown] part debt and part equity I think the bank's more interested in the people behind the business plan So they wanted to see if we had the appropriate credentials

and with the addition of the business [unknown] part equityinvestors coming in on the Coming in with us

we managed to present quite a strong CV to the bankwhich gained a lot of confidenceand then subsequently the funding [Unknown] requires a huge amount of capital investment upfrontto get the doors open to the public

so to do that, we sourced a bit of equity financewe sourced the SFLG, which is [unknown] moneyto bridge to the remaining funding gap[unknown] the debt was absolutely essential to make surewe had enough cash to get the place built and open in time

100% of the funding went to getting doors to this climbing centreto open to the public so [unknown] building the climbing walland the pre-marketing systems and the computer systemsto get, to make sure the place runs It is a lot of hard work to get funding

You have to put the hours in, you have to have a really strong, robust business planotherwise it's not going to stand up to the test of the bank manager

We've managed to get 150,000K out of itand it's worth doing a lot of work for So put the work in, get out there, do the groundworkand get it together and apply for it