Redruth-based Cornish Changeovers is the latest business to be backed by the South West Investment Fund (SWIF).
The £60K loan from SWIG Finance, which manages the smaller loans element of the South West Investment Fund across the region, will help the business grow its holiday accommodation changeover service.
The £200 million South West Investment Fund covers the entire south west region and provides loans from £25k to £2 million and equity investment up to £5 million to help a range of small and medium sized businesses to start up, scale up or stay ahead.
Cornish Changeovers grew out of a working farm and farm shop business called The Bearded Farmer, owned by Shaun Ferkin and partner Peter Warrington. In just over three years, the venture has expanded rapidly and now employs 26 people. A further two new jobs are planned in the next year.
Warrington said: “The job market in Cornwall is very seasonal. This is why we are developing our business to have as many varied income streams as possible. This loan helps us to move forward with our plans to create more facets to the business and continue to offer well-paid, all-year-round employment for our team whilst creating more jobs in the process.”
