Coronavirus Business Interruption Loan Scheme (CBILS)  

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Cornish entrepreneur, Mike Jackson, has received a £25,000 boost from the Start Up Loans Company via South West delivery partner SWIG Finance.

The cash injection was used to secure a premises and cover the setup of the operational side of the business, including office supplies and computer software.

Simply Just One Ltd is a diamond cutting blade cutting specialist based in Threemilestone, Truro.

 

Mike’s 14 years’ experience in selling diamond cutting blades has provided him with a thorough understanding of the market, and the challenges and obstacles he may face.

The business was launched in June 2019 after Mike perceived the need for a mid-market, customer-orientated distributor.

Simply Just One Ltd is a customer-centric business and Mike is able to use the experienced gained through his customer service background to provide his customers with advice and guidance when choosing cutting blades.

For ease of use, Simply Just One Ltd supplies diamond cutting blades in a colour coded system, which means that it is easy to identify which blades suits the needs of a project.

As well as bricks and mortar, Mike also distributes his products via his website, which means that he is able to continue trading during lockdown.

Mike was referred to SWIG Finance through the Cornwall and Isles of Scilly Growth Hub.

Of the loan, Mike said “When looking for funding for my business SWIG Finance came highly recommended. My business manager, Sarah, nurtured my forecasting to come to a suitable arrangement that everyone was happy with. I was able to start my business with clear goals and realistic targets. Sarah’s wealth of knowledge to get me off the ground and running too was invaluable. I would not have been able to take the leap from being an employee to actually running my own business without the support. I love the position I am in at the moment and SWIG really has turned my life around for the better.”

SWIG’s Business Manager Sarah Osborn commented “Mike’s robust business plan demonstrated an excellent knowledge of his industry and his markets. Since its launch, the business has already contended with two lockdowns, however, Mike has used this time to his advantage by building his customer base and creating an e-commerce website which has enabled him to continue trading throughout the second lockdown.  We are delighted to be able to support him in becoming his own boss.”

Richard Bearman, Managing Director at Start Up Loans, said: “Start Up Loans exists to help aspiring businesses owners and early-stage businesses to get access to the finance and support they need to thrive and so I’m delighted that Start Up Loans has been able to support Mike Jackson play a part in the success of Simply Just One Ltd.”

About SWIG Finance

SWIG Finance is the South West’s leading Community Development Financial Institution. We are passionate about bringing social and economic benefits to people and places in the South West.

We do this by providing support and finance to Startups and growing SMEs that can create and secure employment opportunities.

As the South West’s leading delivery partner for Start Up Loans UK, we can provide startup loans from £500 – £25,000. For more information visit https://www.swigfinance.co.uk/start-up-loans/

We also have loans from £10,000 to £250,000 available to South West SMEs who cannot access sufficient funding from their bank https://www.swigfinance.co.uk/funds-available/

For an informal discussion about your funding requirements, get in touch with our friendly and professional team to find out how we can help: info@swigfinance.co.uk / 01872 227 932.