Wakefield childcare centre opens following funding boost

Childcare services in Wakefield have been boosted following the opening of a new play centre, which was backed by a £50,000 funding package from Lloyds TSB Commercial.

Husband and wife team Susan and Jonathan Shaw opened the doors at St James’ Play Care in December after the previous childcare centre in the area closed down in August 2009.

Open before and after school as well as during holiday periods, the play centre is based at St James’ Junior and Infants School in Crigglestone and caters for 40 children aged between three and 14 years old.

To fund the venture, Susan and Jonathan approached Lloyds TSB Commercial, which devised a £50,000 funding package that included a £40,000 Enterprise Finance Guarantee (EFG) loan.

Under the £1.3 billion EFG scheme, the Government guarantees lending to viable firms with a turnover of up to £25 million to ensure that they can access working capital and investment funding.

Susan and Jonathan used the finance to construct and renovate a prefabricated building as well as purchase furniture and equipment.

Now, Susan, Jonathan and their four members of staff are currently completing their level 3 and 4 childcare NVQs as they aim to establish their reputation and extend their reach in the local area.

Susan Shaw said: “As a mother and grandmother, I understand how hard it can be to find good quality childcare. When I found out the previous play centre was due to close, I realised that I could use my 16 years’ experience of working with children to ensure that the local community can still access affordable, quality childcare.

“Establishing our own business was a daunting process, but with Lloyds TSB Commercial’s on board we felt fully supported throughout and had the funding we needed to establish a fantastic, fully-equipped play centre.

“The EFG application process was simple and straightforward, particularly as we received all the guidance and help we need from Lloyds TSB Commercial.

“The local community has also been extremely supportive throughout, providing toys, games and donations to help us set up.”

Denise Nicholson, relationship manager for Lloyds TSB Commercial, said: “Susan and Jonathan’s dedication and determination has ensured parents in Wakefield can rest assured their children are in a secure and safe environment after school and during the holidays.

“An EFG loan was an ideal funding solution for Susan and Jonathan, as the scheme is suitable for start ups or those businesses that don’t have the assets to back a traditional borrowing request. We’re one of the most active lenders under the EFG scheme, providing more than one in four loans offered since launch.

“It’s great to see their plans come to fruition and we’re looking forward to supporting them as they establish their reputation in the area and increase the number of children they look after.”