Award-winning Cheltenham-based travel company Holiday Architects, has become the latest business to benefit from the Coronavirus Business Interruption Loan Scheme.
The £250k loan, facilitated by SWIG Finance, will be used for working capital to ensure business continuity until they can begin trading again and travel restrictions begin to be lifted.
Holiday Architects creates bespoke, culturally immersive, luxury holiday packages to far-flung destinations.
Since establishing the business in 2010, Holiday Architects has won a number of awards, including twice winning Best Tour Operator award from Wanderlust Reader Travel Awards, and has been placed in the Top 10 every year since 2015. It was also awarded Bronze in the Best Luxury Holiday Company category at the 2020 British Travel Awards.
Coronavirus has made it an utterly miserable year for the travel and tourism sector. Like other travel companies across the sector, Holiday Architects had to restructure the business, but the CBILS funding means it has been able to safeguard 11 jobs.
Despite the harsh market conditions, Holiday Architects remain positive about the future. Managing Director Andrew Hunt said: “There has been some huge changes within the industry in the last 12 months. Now that vaccines have been developed, we can start to see a light at the end of the tunnel”.
He added: “The CBILS funding has offered us a lifeline. We chose to work with SWIG Finance because, unlike other lenders, at SWIG you can talk to a person. Our Business Manager, Jordan, took the time to understand our business, its current market position and our future plans. Ultimately, SWIG Finance were able to support our business by looking at the bigger picture – something which other lenders are not willing to do.”
SWIG Finance’s business manager, Jordan Berg, led the deal. He said “Being an avid traveler myself, supporting this business was extra special. Holiday Architects are fantastic at what they do and up until Covid-19 had been growing rapidly and bringing quality jobs to the Gloucestershire region. I have no doubt their future is bright and look forward to seeing them grow as the industry begins to re-open.”
SWIG Finance is the South West’s leading Community Development Financial Institution. It provides support and finance to startups and growing SMEs that can create and secure employment opportunities.