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Hundredth CART loan
making a difference for Trainrite
Trainrite, a specialist training
company based in the Lillyhall Business Centre at Workington, has
received the 100th CART loan and celebrated recently with a
presentation from Grahame Latus.
John and Angela Caffrey set up
Trainrite in 2002 and their range of courses has developed to
include all sorts of industrial training – from crane and
excavator driving to manual handling and high-level access – as
well as motorbike qualifications and other aspects of health and
safety awareness.
“The business is thriving and we are
accredited with all the main industry bodies,” said John, “but the
slump in the construction industry has hit bookings on that side
of things recently and we’ve found that payment is often slower at
the moment too. We needed a loan to help on cash flow and so that
we could get on with our plans to grow the motorbike training side
by taking on a part-time member of staff.”
“Many businesses across Cumbria are
struggling to get funding from their banks but need to bring money
into the business to enable them to survive the challenges and
make the most of the opportunities in the current economic
climate,” said Grahame Latus, Chief Executive of CART. “We
provide an alternative source of funding and, because of the way
that we are set up, we can focus on the people in the business and
offer a loan where banks have already said No.”
Angela Caffrey continued: “Our bank
could see our bookings and knew that the business was inherently
healthy but they still couldn’t help us with a loan. The money
from CART has been exactly what we needed – we’ve been able to
create the new job and promote the motorbike training with new
advertising hoardings and publicity.”
“The arrangement with CART also means
that we can pay back the loan earlier than the three-year term
when
things pick up without paying any penalties.”
CART is a Community Development
Finance Institution, part of a network of alternative sources of
business finance across the UK. “At the moment, businesses need
to check every possible source of support and cash,” said Grahame,
“and we are in a strong position to help Cumbrian businesses to
get through the current economic climate and beyond.”
“We’ve now lent more than £1 million
over the past four years to all sorts of businesses of all sizes
and in all sorts of sectors - retail, hospitality, engineering,
conservation, craft, childcare, manufacturing and services,” said
Grahame. “We wanted to celebrate the 100th loan to Trainrite as a
milestone and donated a bottle of champagne to John and Angela
plus a cheque for £100 to their chosen charity, The Great North
Air Ambulance. The CART team are now looking forward to working
with the next 100 companies in the coming months and years.”
If you are looking for a cash loan for
your business and the banks have not been able to help, contact
Grahame and his team at CART on 01768 867118 or via
www.ccart.org.uk for advice
on next steps.
Grahame Latus of CART (left)
presented John and Angela Caffrey of Trainrite at Workington with
their champagne and charity donation to mark CART’s 100th loan.
Trainrite Limited offers a range of
training programmes with an
emphasis on all aspects of health and safety. Further details are
available on 01900 68040 or at
www.trainriteuk.co.uk |
