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04 January 2010Entrust puts the fun in funding
Indoor children’s soft play centre, Our Fun House, Middlesbrough, is looking forward to continued fun and business success in 2010 thanks to a funding boost from The Regional Enterprise Loan Fund (RELF) managed by Entrust.
Our Fun House, www.our-funhouse.com was established in 2008 by Helen Stephens. It offers children’s parties, after school activities, adventure play, toddler’s sessions, and educational play for children up to 12 years old.
In its first year of business and after early investment to start up, Helen was looking for further funding to help build and sustain her business. RELF was able to support the growth of Our Fun House with a funding loan and provide invaluable professional advice too.
Helen explains:
“Put simply, if it wasn’t for RELF and Entrust, I wouldn’t be in business. I can’t deny that it was difficult to start up a business in the recession. A lot of people said we wouldn’t do it, but I was determined and have worked extremely hard to build the business from scratch.
RELF was brilliant on several levels: the funders recognised my potential which was a huge boost to my confidence and then they provided the loan which was a massive help with cash flow. Not only that but the added bonus has been having a professional accountant on board and the support and advice I have received.
“I’ve never worked closely with an accountant before and I thought it would be a hassle but the reality has been that it’s been a complete blessing. It’s meant that I have been able to focus my energy on growing the business and serving customers, safe in the knowledge that my finances are in order and that the funding is secure. I just couldn’t have done it without them.”
Despite the recession, Helen has successfully established her business and watched it grow to the point of considering a second “Our Fun House” in 2010.
RELF is a £2.25 million fund managed by Entrust, in partnership with North East Business and Innovation Centre and Finance Tree, on behalf of One North East. RELF is targeted at start-up and growing businesses in the North East of England which are unable to fully finance their borrowing requirements from traditional sources.
Andrew Miller, Funds Manager, Entrust said:
“RELF is a straightforward, highly beneficial fund which makes things easy for developing businesses like Our Fun House. We were delighted to support Helen and look forward to her continued success in the New Year.
“Despite the challenging climate, many business ideas and existing businesses have great potential and RELF helps to fulfil this. Getting a business off the ground or growing a business takes a lot of energy, resource and ultimately finance; Entrust offers funding and support from mentors to help make this happen.”
For more information on start up support and business growth and all of the services offered by Entrust please call 0191 244 4000