South West trade show organiser Hale Events has secured a £250,000 loan that it hopes will give confidence to client looking to book into its events.
The company said the loan from Funding Circle, which is a peer to peer network and one of the best-capitalised lending platforms in the world, will leave it better placed should any coronavirus restrictions suddenly force the closure of a future event.
Hale’s financial director, Mike Sartain, said: “Despite being well-resourced and financially secure, we have taken this loan as an insurance policy for our shows, so that in the case of Covid-19-related cancellations or postponements, our clients can rest assured we have the resources needed to run the shows in future.
“We also want our clients to be able to book into our current shows with certainty. This loan has enabled us to give them our own Covid booking guarantee.”
Hale Events organises a number of shows in the south west region for trade buyers of food and drink, with local catering equipment providers among the exhibitors over the years.
The company’s next shows are planned for May and June this year.
“We have grown organically over the last 30 years, and we know how important it is to be prepared and create confidence for our clients until we see the economy recover,” said Mr Sartain.