A Picture of Success: How expanding their premises increased local employment

Dave and Sarah’s FOLK2FOLK loan enabled them to grow their business and employ 14 local staff. Now with a 20% increase in turnover, they count their lucky stars their accountant introduced them to FOLK2FOLK.

The Problem

Dave and Sarah originally started ‘Stable Art’ in a small workshop in the centre of Bodmin, Cornwall where they supplied a vast range of art supplies and framing services. As their client list rapidly started to grow, they soon realised they needed to expand their current work space to accommodate the increase in orders by providing a larger workshop for their staff.

After a derelict chapel became available only a few miles down the road, Dave and Sarah couldn’t resist the idea of transforming it into their dream business of bespoke framing.

The Solution

“After six months of speaking to a number of high street banks who wouldn’t back our project, due to their view that we’re in the decreasing market of retail and uncertain sector of construction, we were advised by our accountant to give FOLK2FOLK a call, which we did!”

FOLK2FOLK were happy to support Dave and Sarah’s development providing them with access to the finance they needed to grow. Once the application had gone through, the money was in their account two weeks later.

Dave and Sarah initially used their loan to purchase the derelict chapel on the outskirts of Bodmin. They went on to build an extension and renovate it into a shop for their art supplies, a workshop to create bespoke frames, a coffee shop, staff kitchen and two outer log cabins which they use to run a range of workshops with local artists.

“The best thing about FOLK2FOLK was the speed in which they turned things around. We only had to wait two weeks before the money was in the bank and we could start the work. They also offered flexible options for repayment which was great, and we are now in the process of raising a mortgage to begin the process.”

FOLKONOMICS In Action

Dave and Sarah opened their doors in September 2018 and since expanding into the chapel their turnover has increased by 20%. They now employ 14 local staff including local artists who take workshops including stone carving, oil painting, watercolours, weaving and Christmas wreath making. They also supply framing and mirrors to local schools, galleries, museums, hotels and councils.

You can visit them at: www.stableart.co.uk

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