Truro-based Ignition, a leading provider of vehicle and asset finance for UK SMEs, has assisted a popular Plymouth gym with finance for fit-out and essential equipment following its recent relocation.
Ignition arranged a £22,000 business loan to help Plymouth Performance Gym (PPG) finance kit such as dumbbells, rings, barbells and cardio equipment, in time for its grand opening at The Millfields in Plymouth.
Established in the city for more than a decade, PPG is owned by Head Instructors, Will Badenoch and Guy Servis. Will, Guy and their team have forged a sound reputation for delivering practical fat-loss and fitness programmes for their members, as well as high-level sports performance for athletes. However, towards the end of last year, after emerging from a difficult period of lockdowns and pandemic restrictions, the gym faced the news that its landlord at Faraday Mill Business Park would not be extending the lease, leaving them just six months to find new premises.
Rather than rent again, Will and Guy decided to purchase a new site for the gym, which would offer greater future security and a superior experience for members, but would involve significant initial expenditure. Will Badenoch comments:
“Losing our premises was a huge blow, particularly just when we were beginning to recover from the pandemic. We knew that purchasing our own property was the right thing for the business long-term, but it was a big step for us financially.
“We had benefitted from a Bounce Back loan and another small loan from the bank, but Ignition’s additional support was crucial to making the move a success. It wouldn’t have been possible without their help.”
PPG’s premises is now at a prime location in Lyster Court at The Millfields, and business is booming, with a wealth of new and existing members enjoying the new site.
Nicola Hambly, Associate Director at Ignition and a member of the Plymouth Performance Gym comments:
“It was a pleasure to assist Will and Guy in kitting out the new gym and helping the business take this important step. They have created a fantastic fitness environment here, which will put them in a strong position for years to come.”