Ignition Credit

Business & Personal Asset Finance in Cornwall

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From Lockdown to Open Arms

1st September 2020 By Katy Baker

The Gardeners Arms in Alderton near Tewkesbury, is a popular 16th century freehold pub, offering a range of home-cooked, locally-sourced food.  As for so many in the hospitality industry, lockdown was a very difficult time for the business.  Thankfully, owners Mike and Wendy Wakeman were able to turn to Ignition for help and support when times got tough:

“Over the past few years our business has gone from strength to strength, with the Gardeners Arms gaining a very good reputation for offering visitors an excellent dining experience.  Ignition has helped us along the way providing asset finance on a number of occasions, whether for purchasing new kitchen equipment, or investing in a new till system to support our customer loyalty scheme. We’ve always found their rates reasonable and liked that you could pay off loans early. 

But 2020 has been challenging to say the least!  Lockdown was devastating for us, and even the months leading up to it were bad for business.  February was a particularly wet month with lots of local flooding. Then we experienced our worst takings ever for Cheltenham’s Gold Cup Week in March, with so many people staying away due to the emerging coronavirus threat. Finally, we had to close for lockdown just a few days before Mother’s Day, which is usually our busiest day of the year.

Ignition phoned us straight away to see how we were and to discuss how they could help us with our repayment commitments.  They offered a number of options, which included letting us reduce repayments to half-rate throughout our closure.  This was the best solution for us and made a huge difference to the business, taking away some of the financial pressure.

We furloughed all our staff, other than just four of us, and used the time to undertake refurbishments and painting.  We also started a takeaway service which helped enormously, and since we have a blast chiller, we also came up with the idea of producing and delivering frozen meals that customers could store in their freezers.  This was really popular and provided a welcome service to the local community.

It was certainly an exhausting time, working with very few staff members, handling all the painting, cooking, and deliveries between us, but it kept the business going.

Now we are open again and despite the new social-distancing measures, we are very busy with bookings.  The Eat Out to Help Out scheme has been very beneficial for us, and we have already managed to pay off one of our loans early.

We are so grateful to Ignition. Their help and understanding during this difficult time definitely helped to keep us afloat.  They provide a truly personal service to their customers, building lasting relationships with them, and are always willing to nurture business potential.  It has been reassuring to have their support through good times and bad.”

The Gardeners Arms

Filed Under: Case Studies

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If you require assistance or further information call one of our expert advisers on 01872 272900.

You can also request a quote online, or use our simple vehicle finance calculator.

Finance Products & Services

  • Asset Refinance
  • Finance Lease
  • Hire Agreement
  • Structured Payments
  • PCP (Personal Contract Purchase)
  • Hire/Lease Purchase
  • Contract Hire
  • Operating Lease
  • VAT Deferrals
  • Corporation Tax Loans
  • Invoice Finance
  • Commercial Loans
  • Loan and Chattel Mortgage

Our Products & Services

  • Asset Refinance
  • Finance Lease
  • Hire Agreement
  • Structured Payments
  • PCP (Personal Contract Purchase)
  • Hire/Lease Purchase
  • Contract Hire
  • Operating Lease
  • VAT Deferrals
  • Corporation Tax Loans
  • Invoice Finance
  • Commercial Loans
  • Loan and Chattel Mortgage

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What We Finance

  • Car Finance
  • Prestige Car Finance
  • Classic Car Finance
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  • Haulage & HGV Finance
  • Bus & Coach Finance
  • Horsebox & Trailer Finance
  • Agricultural Asset Finance
  • Renewable Energy Finance
  • Construction Finance
  • Engineering Finance
  • Technology Asset Finance
  • Refurbishment & Fit-Out Finance
  • Catering Finance

About Ignition Credit

Registered Office
Sterling House,
Green Court,
Truro Business Park,
Threemilestone,
Cornwall,
TR4 9LF

Phone
01872 272900

Office Hours
Monday—Friday: 9:00AM–5:15PM

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Copyright © 2021 Ignition Credit. All Rights Reserved
E&OE Company Registration Number: 4315993 | VAT Registration Number: 864 5933 85 | Authorised and regulated by the Financial Conduct Authority FRN 679018 Registered Office:- Sterling House, Green Court, Truro Business Park, Threemilestone, Truro, Cornwall, TR4 9LF

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