Success Story
| Region/Nation | South East |
|---|---|
| Programme | Coronavirus Business Interruption Loan Scheme (CBILS) |
| Partner |
Marwell Wildlife was forced to close its zoo when the Government implemented the shutdown to fight COVID-19. With no visitors paying to enter the zoo, but ongoing costs to meet for the animals’ upkeep, the company sought financial support via the Coronavirus Business Interruption Loan Scheme (CBILS) before its cashflow dried up.
Read what it had to say in this CBILS case study.
British Business Bank: Can you tell us what your organisation does?
James Cretney, chief executive of Marwell Wildlife: Marwell Wildlife is a charity committed to the conservation of biodiversity and the Earth’s natural resources. We work on conservation projects in the UK and overseas, and we also run Marwell Zoo in Hampshire. The zoo welcomes over half a million guests each year and employs over 300 staff.
The coronavirus has affected a huge number of businesses across the UK. What problems were you facing as a result of the outbreak and what made you apply for CBILS support?
Like many businesses, we had to close once the Government implemented the shutdown to tackle COVID-19. And obviously that meant an immediate end to our receiving income from people paying to visit the zoo.
Needing to look after our animals and pay zookeepers, we had to seek financial support, otherwise we’d have simply run out of money.
How long did the application process take? Did you need any support?
We submitted our application and a month later heard that it’d been accepted. We drew down the loan one month after that. We didn’t need any support throughout the process.
Because we’re a registered charity, we have internal processes we must follow and the board has to find agreement on any financial decisions, so receiving the funds took a little longer than it typically might with other businesses.
Without the financial support of CBILS, we would’ve run out of money. 300 staff would’ve been unemployed, our teaching, science and research at an end, and the future of more than 2,000 animals uncertain. - James Cretney chief executive of Marwell Wildlife
What advice would you give to other businesses that are applying for a CBILS loan?
Before you start the process, use the British Business Bank’s website to gain a proper understanding of what the loan schemes entail, and the conditions around them. This will guide you as to how to apply and what to do.
I’d also advise engaging with your chosen lender as early as you can. Tell them what you’re requesting and find out what additional information they might need to support your request. They’ll certainly want to know what other action you’ve taken, or plan to take, to support your business and its future liquidity and viability, so make sure you have this to hand.
How has the CBILS loan helped your organisation to weather the outbreak? And what might have happened if you hadn’t received it?
The loan has allowed us to survive. It’s as simple as that.
Our plans now are to get back to normality. And while we’d hoped to invest in new capital projects, our ambitions will unfortunately now be more modest, due to this pandemic and economic crisis.
Without the financial support of CBILS, we would’ve run out of money. 300 staff would’ve been unemployed, our teaching, science and research at an end, and the future of more than 2,000 animals uncertain.
Quick links
More success stories
Read a success story about Ruuby
An on-demand beauty marketplace, which allows customers to order a host of beauty services to their desired location, has raised £2m to accelerate its growth in the North West by doubling down on its existing operations in Manchester and Liverpool.
Read a success story about Power Roll
Based in Murton, Power Roll, a pioneer in the solar energy transition, has raised £4.3 million in its most recent funding round, including £1.5 million from NPIF II – Maven Equity Finance, which is managed by Maven Capital Partners as part of the Northern Powerhouse Investment Fund II.
Read a success story about Xentra
A fast-growing Leeds cybersecurity company secured a six-figure loan from NPIF II – Mercia Debt Finance, which is managed by Mercia as part of the Northern Powerhouse Investment Fund II (NPIF II).