Company

Tyn-Y-Ffridd Farm provides holiday and private residential lettings across 70 acres of woods and farmland in Bangor, near Snowdonia. It is owned by entrepreneurs Sarah Thomas and David James.

Funding Requirement

£890,000 in asset-secured funding has enabled the holiday park to invest in redevelopment work to expand its offering – spanning holiday cottages, camping and corporate events through to weddings and yoga retreats.

Finance Solution

Located close to the main motorway network connecting Anglesey and Snowdonia, the holiday park has experienced year-on-year revenue growth in the last two years, despite having to overcome the heavy impact COVID had on the business.

It required working capital to continue its forwards momentum and turned to Reward to provide an alternative finance solution, with it no longer able to access funding through traditional banks.

Mike Calvert, Reward Funding’s Business Development Director in the North West, said: “Sarah and David have worked tirelessly to develop the holiday park into a hugely successful business, that has continually diversified into new markets and revenue streams. Being able to both understand their challenges and react at speed meant that we could provide a finance solution that is critical to their business momentum and ensuring the progress achieved to date is not lost.”

“Tyn-Y-Ffridd Farm is unfortunately one of a growing number of businesses that increasingly struggle to secure funding through traditional banks. It can stifle many firms by preventing them from expanding, recruiting or seizing market opportunities, which ultimately has an impact on the wider economy across North Wales. We’re delighted to be in a position to offer an alternative solution that unlocks further growth.”

Client Testimonial

“Although thankfully well behind us now, we can’t underestimate the impact the pandemic had on the business at the time and the scale of the challenge and rebuild needed ever since. We’ve fortunately gone from strength-to-strength by developing our holiday and private rental properties and expanded into new areas such as weddings and corporate events.

“Few businesses can enjoy the growth we’ve experienced without external finance, which is why we were relieved when Reward stepped in to support us when the bank removed its funding. The flexibility and pace of lending has ensured we’ve not stood still and are now in a position to expand the business further over the next 12 months.”

David James, Co-owner of Tyn-Y-Ffridd Farm