An independent chain of tanning salons in Wiltshire and Gloucestershire has received a £160k funding boost via SWIG Finance for expansion.
The Tanning Room provides UV sunbeds and spray tanning, alongside collagen and red-light treatments. Staff are trained to ensure that customers only receive the appropriate levels of UV exposure.
The business was first established in north Swindon in 2017 by Victoria Hargrave, who previously had ten years of experience in the sector.
In 2019 an additional salon was set up in Cirencester, and a further outlet opened in west Swindon in 2021.
Now a fourth salon has opened in Stroud with SWIG Finance funding to support the ingoing premises and equipment costs.
The Tanning Room now has 15 employees and is creating more local opportunities with expansion.
Business owner Victoria said “I have been in business for over 10 years, but I have found that even if you have been trading for a long time with a good track record of repayments and a solid accounting history, borrowing is ultimately difficult to secure. My business manager, Nicki, was very personable and interested in finding out about my business. She backed us all the way and I never felt anything was too difficult for her.
The team at SWIG is clearly very knowledgeable and are there to help, if you are thinking of borrowing and not sure who to turn to, then look no further than the professionals at SWIG.”
SWIG Finance’s Business Manager, Nicki Kimberley, commented “I was impressed with Victoria’s business acumen. What started as a simple business idea has transformed into a multi-store business in a short space of time. It was clear from the outset that Victoria understands her market very well and is incredibly passionate about it.”
About SWIG Finance
SWIG Finance is a non-profit company that supports viable South West businesses that can’t secure sufficient funding from their bank.
We’re growing every year. In 2022/23, we lent £14m to 478 businesses, helping to create and secure over 1,000 jobs and generate £44.6m in social impact. Download the report here.
If you’d like to discuss your funding requirements, get in touch with our friendly and professional team: info@swigfinance.co.uk / 01872 227 930.