The Tide Climbing Centre in Wadebridge has secured £20k of start-up funding.
The loan, provided by The Start Up Loans Company and accessed via SWIG Finance, will be used to help the business overcome an issue that arose from a downturn in exchange rates.
Due to Covid-19, the new indoor centre was forced to close doors soon after its launch, however, with new guidelines in place to accommodate social distancing, it is now back up and running.
The £20k loan now brings the total investment up to £340k which has been accumulated through a mix of personal savings, business loans, private investors and crowdfunding.
Sophie Reynard , who owns the business along with Sam Rearden, commented: “We have put everything we have into The Tide. With the recent downturn in exchange rates, we are grateful to SWIG Finance for facilitating our Start Up Loan to boost our initial investment.
“Our business manager, Mark Thayre, was really helpful throughout the application process, ensuring that the process was efficient and that the funds were released quickly”.
Thayre added: “We were delighted to be able to support The Tide Climbing Centre. It is clear through their funding journey to date, that their idea resonates well with the people of Cornwall and I’m sure that the business will be a great success.”