Doncaster nursery gets kick-start from the Fund
Published: 18th May 2004
From left to right (top), Margaret McBride, Allan Wood, David Seymour and Elaine Thompson, (bottom), Ross Maguire and Alex Cook.
Boost for early years education as nursery receives £25.5k loan for building conversion.
A Doncaster partnership has converted a detached bungalow into a new state-of-the-art children’s nursery - with the help of a £25,500 unsecured loan from South Yorkshire Investment Fund.
Co-founders of Shortstuff Nursery, Margaret McBride and Elaine Thompson, located the property in Cantley a year ago and set about making the property into a first class nursery.
Margaret and Elaine were introduced to SYIF by David Seymour of Seymour and Co. With the help of SYIF’s unsecured loan they were able to convert the bungalow into a nursery unit – dividing the building into sections including quiet and activity areas and outdoor playing facilities.
Registered in January this year, the nursery has three members of staff, two of which are fully qualified teachers who are following the High-scope and Stepping Stones principles of nursery education.
Margeret McBride, of Shortstuff Day Nursery, said: "Working with a nursery was a relatively new venture for South Yorkshire Investment Fund but they were extremely helpful.
"We believe in positive learning through positive play and believe we can achieve this with the help of our modern facilities. The Fund has helped us put our business plan into action."
Tony Goulbourn, Chief Executive of South Yorkshire Investment Fund Ltd said: "We are delighted to help Shortstuff Day Nursery make a positive start to their business. They now have a fantastic facility that caters for the children’s every need."
The Fund provides loans and equity investments ranging from £15k to £2.5m to businesses in, or prepared to relocate to, South Yorkshire. The Fund has already invested over £6.6 million in 86 businesses.
It offers two key products, one of which is loans ranging from £15k to £150k with effective annual interest rates from as little as 2.4% per annum. Loans are unsecured for the majority of established profitable businesses with unsecured loans of up to £50k available for start-ups or early stage businesses.
The second product is an equity-linked package of a loan with equity options or equity investment, ranging from £50k to £2.5m where the Fund may take a minority shareholding in the business.
South Yorkshire Investment Fund also runs a Business Angels introductory service for early stage businesses in South Yorkshire.
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About South Yorkshire Investment Fund
South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.
South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.
Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
For further details please contact Suzanne Tinkler, on 0845 649 0000.
South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).