West Midlands soft play centre Kidz2Play will be able to reopen its doors as soon as possible with the support of Lloyds Bank.

Lloyds Banking Group
06 May 2020
1 min read

The family-owned business has secured a £43,000 funding package as part of the government-backed Bounce Back Loan Scheme for small businesses. The loan means that the community asset will be able to cover its overheads and ensure its furloughed employees are paid in full while it is closed to the public during lockdown.

Kidz2Play had seen a significant fall in footfall in the weeks prior to lockdown but expects to reopen its doors when the UK government advises that it is safe to do so. The business is currently investing in measures to enable social distancing and intends to provide temperature checks for visitors on arrival.

Having invested in upgrading the play centre’s facilities since its acquisition in 2017, Kidz2Play’s owners were anticipating a period of significant growth prior to closing as a result of the coronavirus pandemic.

Kidz2Play owner Richard McLean said: “We’ve developed a thriving play centre over the last three years that families in the local area really enjoy coming to. The effects of coronavirus have naturally been detrimental to our revenue and meant we’ve had to furlough staff until we’re able to reopen. However, this funding provides us with the security to meet our long-term overheads, top up our team’s wages and manage the likelihood of lower footfall as we get back up to speed.

“The process of applying for the loan was straight forward and we’ve benefitted from the fact that the team at Lloyds Bank proactively introduced it to us.”

Marie Woodhead, Business Banking Manager at Lloyds Bank, said: “We’re proud to be by the side of small businesses like Kidz2Play which play an integral role in local communities. There is clearly huge appetite for financial support for small businesses of all types and we are looking forward to helping more of them bounce back as they navigate the challenges brought about by coronavirus.”
 

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