Retailers are beginning to reap the rewards of a new loan scheme from wholesaler AF Blakemore for store refurbishments.
Five applications to the Guaranteed Investment Scheme have been approved for loans, while a further 19 are in progress. The scheme was launched in the summer and offers loans to AF Blakemore's 700 Spar retailers for in-store investment.
As part of the scheme, AF Blakemore guaranteed shop owners would recoup their investment within five years or the outstanding loan and interest would be written off.
The wholesaler claimed strong interest in the programme indicated it would become a major contributor to developing its most progressive retailers.
"Our underlying financial strength and stability enable us to give total reassurance to retailers considering investment in their stores," said Dennis Evans, MD of AF Blakemore Distribution. "At a time when some banks are not exactly helping small businesses, the Blakemore-Spar approach is showing the way forward, and will help us build and protect sustainable, loyal retail customers."
In addition to offering the Guaranteed Investment Scheme, AF Blakemore also invests in its customers' stores on an ad-hoc basis.
Five applications to the Guaranteed Investment Scheme have been approved for loans, while a further 19 are in progress. The scheme was launched in the summer and offers loans to AF Blakemore's 700 Spar retailers for in-store investment.
As part of the scheme, AF Blakemore guaranteed shop owners would recoup their investment within five years or the outstanding loan and interest would be written off.
The wholesaler claimed strong interest in the programme indicated it would become a major contributor to developing its most progressive retailers.
"Our underlying financial strength and stability enable us to give total reassurance to retailers considering investment in their stores," said Dennis Evans, MD of AF Blakemore Distribution. "At a time when some banks are not exactly helping small businesses, the Blakemore-Spar approach is showing the way forward, and will help us build and protect sustainable, loyal retail customers."
In addition to offering the Guaranteed Investment Scheme, AF Blakemore also invests in its customers' stores on an ad-hoc basis.
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