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Young Entrepreneur’s Jewellery Business Set for Take-Off with Backing from the Development Bank

Busnes Gemwaith Mentergarwr Ifanc ar fin Hedfan gyda Chefnogaeth gan Fanc Datblygu Cymru

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Designer, jeweller and silversmith Maggie Cross is expanding her boutique jewellery business with the help of a micro loan from the Development Bank of Wales.

The 29-year old single mum makes minimal but fun jewellery using traditional silversmithing techniques and recycled precious metals from her studio in Cardigan. She trained at the School of Jewellery in Birmingham and is using workshops in the famous Jewellery Quarter for casting.

A £5,000 loan from the Development Bank has been used to invest in stock, casting and materials as she prepares to scale-up to meet customer demand. Maggie is also preparing to launch a programme of workshops.

Maggie said:

“I’m aiming to make my brand as sustainable as possible by only using recycled and environmentally friendly materials. Since completing my degree my time has been spent building up my client base and social media following and the time is now right to expand my offering.

“The £5,000 loan from the Development Bank has made all the difference because it means that I’ve now got the working capital to invest in my products. Their support also means that I’ve got the confidence that the business has the potential to take off. I’m very grateful for their help.”

Assistant Investment Executive Charlotte Price from the Development Bank of Wales said:

“We are pleased to be working with young entrepreneurs like Maggie, recognising that we have an important part to play in the Welsh Government’s commitment to supporting them.

“Maggie has been developing the business for a few years and has already built up a strong following. She is passionate about what she does so we have every confidence that she will make a success of the business.”

The £32.5 million Wales Micro Loan Fund is financed entirely by the Welsh Government. Loans between £1,000 and £50,000 are available for sole traders, small businesses and social enterprises based in Wales.

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The Development Bank of Wales exists to help businesses in Wales start up, strengthen and grow, by getting them the capital they need across a range of routes.

As a unique resource in Wales, we offer flexible finance to all businesses at all stages, with funds available from £1,000 to £10million.

Our teams of friendly and dedicated staff all across Wales are on hand to provide guidance on the right investment and support for your business, and can provide the local insight which we know business owners value.

We’re one of the top five institutional venture capital investors in the UK by volume, with more than £100m invested in tech businesses.

We also work alongside partner organisations like Business Wales, and offers co-investment alongside banks, crowd funders, grants, private and corporate investors and other lenders.

And we’re committed to helping Welsh businesses improve their sustainability and achieving net-zero goals, helping them to transition to Wales’ green business future.

For more information, visit the Development Bank website at www.developmentbank.wales to find out more.

 

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