Carl Gough, a business owner in Torfaen, recently launched a new make-up range for men, with the help of Cornerstone Finance and a business loan from the Development Bank of Wales . Cwmbran-based Cargo Interiors Limited was referred to the bank by Cornerstone Finance to secure a £50,000 micro loan to help launch this new cosmetics line. The micro loan will help support marketing activities, as well as the stock purchasing and development.
“It became clear during the first lockdown of 2020 that the way we work was going to fundamentally change. I looked into gaps in the market where I could use my existing skills and decided to launch our BUG, a make-up range for men.
Cornerstone Finance have helped many businesses to access funds during the Coronavirus pandemic. The Development Bank of Wales was set up by the Welsh Government to support the economy of Wales by making it easier for businesses to get the finance needed to start up, strengthen and grow. The bank supports Welsh businesses by:
- Loans from £1,000 - £5 million to start, strengthen or grow your business
- Equity investment from £50,000 to £5 million for established businesses
- Seed finance for pre-revenue tech start-ups
- Equity investment for early stage and mature technology-based businesses
- Finance up to £5 million to buy a business (business owners and management teams)
- Property development loans for projects in Wales
- Referrals to Business Wales for business advice and support
- Co-investment alongside banks, crowd funders, grants, investors and other lenders
“I was referred to Claire from the Development Bank by Cornerstone Finance. The process was smooth and clear and I was able to secure the finance I needed to get BUG for Men out there to our new customers. With many companies increasingly moving towards a hybrid working model, the two strands of the company really complement each other.”