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FINANCE Nursery group secures £1.6m funding


One of the UK’s largest family- owned and managed nursery groups will be able to keep its doors open to the children of key workers during the coronavirus lockdown after securing a £1.6m loan from Lloyds Bank, brokered by Goodman Corporate Finance. Children 1st Day Nurseries has 24


sites across the Midlands and South Yorkshire. It has continued to provide care for children whose parents are key workers, and for the most vulnerable, since the Government’s shutdown of schools and nurseries. But the group has faced a


significant fall in revenue since the lockdown, with just 15% of the almost-4,000 children it usually provides care for currently attending its nurseries. Children 1st has also suspended


nursery fees for parents facing financial hardship during the Covid- 19 pandemic. The business secured the £1.6m


finance agreement from Lloyds Bank and was also offered a 12- month capital repayment holiday on its existing borrowing. Adrian Mason, Managing Director


at Children 1st, said: “It’s really important that we keep our nurseries open so key workers can continue


Managing director Adrian Mason (above) and youngsters at Children 1st’s Plumtree Nursery Jon Saltinsall, senior healthcare


with the vital work that’s keeping the country safe and working, but a huge drop in attendance numbers after the lockdown was announced meant that cashflow was becoming a problem. “Not only will this new funding


mean we can carry on supporting key workers and vulnerable children, it also means that we can retain our amazing team of employees and ensure the long- term future of the company.”


Business coach offers free Covid-19 finance guides to help SMEs


A business development expert from ActionCOACH Leicester and Nottingham has created some free guides containing advice, top tips and information to help local SMEs navigate the Covid-19 crisis. Louise Jones (pictured)


founding partner at the East Midlands coaching consultancy, says that amid all the uncertainty, now is the time for all business owners to acquire knowledge, take time to think and reflect on their business, plan for the next 90 to 120 days, and act. The free documents include


guides to creating a daily cashflow forecast and a 90-day plan, which are the vital short- term steps businesses need to take to ensure longer term success. There is also an information


document detailing the latest support for small businesses from HMRC. Louise said: “The Covid-19


Services Offered: • Asset Finance • Business Loans


crisis is an unprecedented scenario and many business owners are feeling the daily pressure go up a few notches. “People react to these things in


three ways, freeze, fight or flight. I would suggest the mindset should be fight.” If you would like to receive a


copy of the guides and a free business growth consultation, email louisejones@actioncoach.com.


business network May 2020 57


• Bridging Loans & Development Finance


• Buy to Let Mortgages • Commercial Mortgages • Invoice Finance


• Supply Chain & Trade Finance


Whether just starting out or well established, businesses use finance for any number of reasons. Cash-flow along the supply chain is a frequent concern. Suppliers, tax liabilities and wages can’t wait. Assets and property require funding. An extensive range of financing solutions is available, with access to lenders across the whole of the market.


banking consultant at Lloyds Bank, said: “The finance secured by Children 1st will act as a much- needed buffer to the company as it, like many other firms, overcomes unprecedented challenges in the weeks and months ahead. “It’s a fantastic example of a


strong-willed firm that’s fighting through the crisis so it can continue to play support the UK’s essential workforce.”


Children 1st was founded in 1988


by Margaret Mason, who received an OBE in 2017 for her services to early years education. It has since grown to become one


of the UK’s largest, family-owned childcare providers, with 83% of its settings rated as ‘Outstanding in All Areas’ by Ofsted, the joint highest in the UK. The company now cares for 3,621


children and employs more than 600 people.


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