A PWLLHELI property management company has carried out a £15,000 refurbishment of its laundry unit – with help from a small business fund.

Launched in 2012, the Wales Micro Business Loan Fund managed by Finance Wales has invested over £10m in 390 start-ups and established businesses over the last five years; safeguarding or creating some 2,000 jobs across Wales. The fund has increased from £6m to £18m during that time.

Those to benefit include Pwllheli-based Peninsula Property Management who have expanded their laundry service offering for holiday-home owners and B&B businesses.

The company used the loan to refurbish its laundry unit, Twankey’s Laundry.
Managing director and company founder Susan Kelly was introduced to Finance Wales by the Federation of Small Businesses (FSB).

“The FSB suggested I approach Finance Wales for investment. I was amazed by the speed at which they were able to help. From first calling them it took only 16 days for the money to reach my account. This investment means we can meet our clients’ demand sooner than we planned and has significantly supported our expansion.”

Based in their North Wales office, Finance Wales Investment Executive Heather Abrahams, said: “Sue has a great business set-up. Since founding the company seven years ago she’s grown the business consistently and increased profits year-on-year. We’re happy to support her plans to expand the business and diversify into complementary markets.”

Source: Cambrian News