Employee buyouts are just one of the ways we’re glad to support more worker ownership.
We supported training providers TSW in Wales in 2007 to take ownership of their business and we’re glad to say they are still providing training and development support today.
An historic village inn frequented by two of the most famous English landscape painters and now owned by its residents receives long-term finance boost.
With an inn on its site going back all the way to 1305, The Lamarsh Lion Community Pub commands a superb view over the River Stour much loved and sketched by the renowned landscape artists Thomas Gainsborough and John Constable. On the Essex/Suffolk border about 10 miles northwest of Colchester, Lamarsh is a small village of around 180 residents who since 2017 have owned their community pub after it was put up for sale the year before.
Along with a successful community share issue, a grant from the ‘More Than a Pub’ legacy scheme, a loan from Co-operative & Community Finance, and a private loan; the community were able to proceed with the purchase of the pub and begin refurbishments from July 2017. Since then, repairs and renewals to guttering, roof tiling, chimney stacks, windows and doors as well as refitting and reequipping the trade kitchen, timber frame, damp issues and drainage have all been undertaken and completed.
Co-operative & Community Finance along with Co-op Loan Fund (managed by CCF) were pleased to help secure additional finance for the pub as it continues to develop and grow as a vital community asset. Kevin Lloyd-Evans, Lending and Relationship Manager at Co-operative & Community Finance said: “We are delighted to be able to support for The Lamarsh Lion. Our long-term finance was able to support the needs of the group. This type of finance was not available through other lenders. Rising energy prices have a created tough trading conditions, however with impressive leadership in place and a debt structure which supports the business, the outlook has significantly improved for the group.”
With a committee that offers a broad range of skills and experience, The Lamarsh Lion has built up a reputation as a place to eat and drink for families in the local area and has been doing well with theme nights and community focused activities. With residents also utilising the pub regularly for family parties, The Lamarsh Lion are truly establishing themselves as a family friendly affordable venue in the region.
Ruth Allison, Treasurer at The Lamarsh Lion Community Pub Ltd said: “Getting this further investment from Co-operative & Community Finance and Co-op Loan Fund has really been a boost to our group. The challenges of running a community business in the current economic environment are complex and persistent. Having a supportive lender who knows what you are going through, understands and is willing to help is much needed and appreciated. It is a refreshing approach to accessing community finance.”
The legacy ‘More Than a Pub Fund’ scheme provides loan finance of between £75,000 to £150,000 available to Community Owned Pubs at a discounted rate of interest for members of the Plunkett Foundation, length of term ranges from five to twenty years. Co-operative & Community Finance also helps support groups to access grant funding to help them develop business plans and pay for surveys through the Reach Fund. Please contact Co-operative & Community Finance for the full terms and conditions, and to discuss how your Community Owned Pub venture can be supported.
You can find out more about The Lamarsh Lion by visiting their website.
A printing cooperative rooted in activism within London’s East End has secured finance as a returning borrower, 44 years after being the first co-op to fully repay its loan to Co-operative & Community Finance, back in 1979.
Founded in 1977, Calverts is a design and printing workers’ cooperative based in Bethnal Green, East London. As a 13-strong equal pay co-op, the business is built on a collective foundation where employees “jointly own and control the company, putting into action the cooperative values of equity, solidarity, democracy, self-help, self-responsibility and equality”.
Calverts offers a range of services including creative design, branding, high end print and bookmaking, as well as creative workshops, teach-ins and team building days for clients. Over its 45-year trading history Calverts has served a wide client base that includes consumer brands, universities, the arts, third sector and campaigning organisations. Famously, Calverts researched and designed the global Co-op Marque.
Working with Co-operative & Community Finance, Calverts has secured a loan to purchase new reprographic equipment. The loan comes some 44 years after Calverts were the first cooperative to fully repay a loan to Co-operative & Community Finance (ICOF as it was then known).
Kevin Lloyd-Evans, Lending and Relationship Manager at Co-operative & Community Finance said: “As a returning customer, we are delighted that Calverts have chosen to work with Co-operative & Community Finance again. Since 1977 Calverts have been part of the worker cooperative movement. In our 50th year it is rewarding to see our relationships with clients standing firm and the continued relevance of our funding across the cooperative movement.”
A recent article described Calverts as a cooperative that has been ‘putting the activism into Bethnal Green since its 70’s punk rock beginnings.’ And with their radical roots running deep in the East End, the article goes on to say the co-op are ‘best placed to serve the community of which they are an intrinsic part, and in an environmentally efficient way.’
Co-operative Director Siôn Whellens said “The new £50k loan on CCF’s unique terms represents good value for money, and helps ensure Calverts competitiveness in a tech-driven industry. Because they’re a lender with a mission to support worker co-ops, we were delighted to renew the partnership with CCF”.
You can keep up to date with Calverts by visiting their website.
Employee owned Clansman Dynamics began in Scotland in 1994 and represents perhaps some of the ‘heaviest’ industry that we’ve supported, coupled with innovative robotics.
We lent to them in 2009 to support their employee buyout, and, going strong today, they design manipulators and robots to handle workload in the extreme environments of foundries and forges.
Fascinated by the idea of robots handling molten metal? Find out more here
PrimePac Solutions Ltd. was formed in the Summer of 2005 following the closure of the Budelpack Rhymney factory, in Ebbw Vale, South Wales.
We first lent to Primepac to help with their employee buyout, following that closure.
Since then, they have taken further loans from us, buying other machinery and prepacking kit. We were incredibly proud to work with PrimePac in 2020, to support increased orders to package sanitising and cleaning products during the pandemic.
In the market for bottle filling and made to measure contract packaging solutions? ‘If it’s a liquid, powder or gel, and it goes into a sachet, bottle or tube’ – they can do it.
We’re back to the 80’s again with this image from Wolverhampton in 1984 – was the photographer inspired by Flashdance? Would that PPE pass muster today?
JD Fabrications took out a loan to help them buy equipment and kit. They are still running today, providing services as Structural Steel, Stainless Steel and Aluminium Fabricators, and Welding Specialists.
Residents of East Budleigh aim to attract more visitors and secure the long-term future of their community pub with a plan to refurbish the upstairs apartment as self-catering tourist accommodation.
The Sir Walter Raleigh pub has quickly become a favourite in the region after being purchased by residents as a community pub with the help of Co-operative & Community Finance’s ‘More Than a Pub’ finance package in 2022. Since taking ownership the community has come together to repaint, refurbish, provide new signage, as well as make improvements to the rear beer garden and courtyard.
The restaurant and bar areas have also been redecorated along with new appliances installed in the kitchen. These changes have not gone unnoticed with support from both locals and visitors alike taking the Sir Walter Raleigh’s Tripadviser ranking from 15 out of 16 local restaurants to 1st within 6 months. This huge achievement over a short period of time along with very positive reviews has led to the pub being awarded a Travellers Choice Award by Tripadviser.
The Sir Walter Raleigh committee are now ready to begin the next stage of development which includes the refurbishment of the apartment above the pub as self-catering tourist accommodation. The plan is to completely renovate, redecorate and furnish the space including a new kitchen, bathrooms and central heating system which will attract more visitors to the area as well as provide more revenue to the already thriving community asset.
Co-operative & Community Finance were pleased to help secure some of the funding for the accommodation upgrade as a second loan following on from their ‘More Than a Pub’ legacy scheme in 2022. Tim Coomer, Business Development Manager Co-operative & Community Finance said: “We are really pleased to be able to support the Sir Walter Raleigh with their refurbishment plans, the holiday accommodation is a really important part of their revenue stream. East Budleigh is such a great village and who wouldn’t want to stay in the thatched ‘chocolate box’ pub.”
The Pub operates a regular Walt’s Café open weekday mornings from 10:00am to 12:00pm which is staffed entirely by volunteers as well as providing a Silver Service club for Seniors offering a 2-course meal for £10 every Thursday. Regular quiz, music nights and community led events have been extremely popular with locals also. The renovation of the upstairs accommodation will widen the pub’s offer to the walkers, cyclists and tourists visiting the area and means the committee can continue to be proactive and adaptable in how the business is managed ensuring the Sir Walter Raleigh’s long-term future.
Mark Duffelen, Chairman said: “We’re thrilled with the way the Sir Walter Raleigh has developed over the last year and are incredibly grateful to Co-operative and Community Finance for their support, particularly their understanding of the social benefit of what we’re trying to achieve and the speed with which they responded to our needs. The ability to let our accommodation will make a big difference to our financial viability and we look forward to a prosperous future.”
The legacy ‘More Than a Pub Fund’ scheme provides loan finance of between £75,000 to £150,000 available to Community Owned Pubs at a discounted rate of interest for members of the Plunkett Foundation, length of term ranges from five to twenty years. Please contact Co-operative & Community Finance for the full terms and conditions, and to discuss how your Community Owned Pub venture can be supported.
You can find out more about the Sir Walter Raleigh pub by visiting their website.
There’s something very tangible about lending a business money to buy a whacking great piece of machinery.
Ever wondered why businesses that rent our machinery are called ‘plant hire’? Apparently it comes from the verb ‘to plant’ in the sense that we ‘plant our feet’ on the ground and the heavy objects are also planted on the ground, for the hirer to use in their own way.
In 1983, we lent to KER Plant in Northampton, so they could add to their stock of hireable equipment. We’re not sure if the loan funded this digger particularly. KER are still in business, – if you need a skip in Northamptonshire, they can help you out.
The sign on the van proudly proclaims Hastings Furniture Service to be ‘your community business’.
We think that this photo dates from 1998 when we lent to them to refinance their property. Was this one of the earliest uses of the term?
HFS is still trading, as a charity now. Their website says that they ‘provide affordable reused furniture, helps low-income households to furnish their homes, collects surplus furniture and appliances for reuse, and provides practical opportunities for people to gain skills, experience and confidence.
Every year the HFS team:
This photo from the archive is a real mystery – we think this was 1985 but that’s about all we know!
Retro Housing Action – a housing co-operative – wanted to buy a property and we were glad to help them. Who’s this little person? Where are they now? Were the chickens part of the scheme? So many questions!
Since publishing this article, we’ve been told by Ian Taylor that this was a Birmingham organisation. The photo is what was an urban city farm in Mitcham, Surrey – the photo was used for promotion but they did not become a borrower.