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Rosebud Finance, a Lancashire-based business loans provider, has injected £5.8m into 43 businesses across the region since July 2019, when GC Business Finance was appointed as the funds delivery partner.
Rosebud is owned by Lancashire County Developments Ltd (LCDL), a wholly owned subsidiary of Lancashire County Council. Since 1986, Rosebud has provided loans to Lancashire businesses of all sizes, ranging from £10,000 to £300,000, helping them develop, grow and create jobs.
Alternative finance provider GC Business Finance has been the delivery partner for Rosebud Finance since July 2019. It works closely with the entrepreneurs to understand their business, guiding them through the loan process and instilling confidence.
This support spans across the entire Lancashire region, with business loans distributed across all 12 boroughs. Chorley and Preston have received the most support, both with seven businesses in each borough benefitting from the fund. Five businesses in Burnley also secured funding from Rosebud.
Rosebud takes a sector agnostic approach to funding, but is focused on innovative, ambitious businesses with plans to grow their teams. Businesses operating in the manufacturing and creative and digital sectors secured the most funding, accounting for 65 per cent of loans provided by Rosebud through GC Business Finance.
Across all of these businesses, Rosebud is forecasted to have created over 400 jobs in Lancashire.
Recent businesses supported through Rosebud include Accrington-based Pharma Sheet Metal, a sheet metal specialist, which secured a £200k loan. The Secret Garden Glamping, an award-winning glamping site in Skelmersdale, also secured a £250k loan to complete its current site, adding five additional pods to meet its strong demand.
Jonathan Nelson, fund manager at Rosebud said: “I am extremely proud of the impact the funding we provide has had on businesses across Lancashire. It showcases our important role in fostering regional economic prosperity, with over 400 jobs forecasted to have been created through our funding. This is why it is so important to unlock the growth potential of businesses and we are excited to continue this work, helping even more people and businesses in the region.”
Paul Breen, director of GC Business Finance said: “Helping growing businesses thrive is at the centre of what we do, so we are thankful for our partnership with Rosebud which has allowed us to support so many businesses across Lancashire. The success of the collaboration between Rosebud and GCBF showcases the importance of putting time and resources into supporting regional businesses, and the benefit this can have for regional job creation and economic growth.”
Councillor Aidy Riggott, Cabinet Member for Economic Development and Growth at Lancashire County Council, added: “The success of the Rosebud fund further demonstrates Lancashire’s key role as an innovation hub in the UK. Accessible business finance is essential to unlocking business potential in our region and strengthening our diverse regional economy. Rosebud has clearly had a strong positive impact in creating jobs and promoting economic prosperity across our region, and I look forward to seeing the effect it will continue to have in the coming years.”