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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 funds businesses that they think will benefit Wales and its people. The ones that will create ripples of growth- those that are more than a good business model or a great idea. They finance responsible businesses – those with a strong social, ethical and environmental standards, as well as real commercial promise.

By providing sustainable, effective finance where options have seemed limited, they bring ambitions to life and fuel possibilities for people, businesses and communities in Wales and beyond.

The Development Bank’s ‘big picture’ view means it can often help with debt and equity finance when options seem limited, doing whatever it takes to make a positive difference, bringing together the right people and working collaboratively to find a way to make things happen for Welsh businesses and for Wales.

Its teams are embedded in local communities, working out of regional offices that give customers direct access to key decision-makers and signposted avenues of support. They understand what’s happening in Wales’ villages, towns and cities – the challenges and the opportunities. They see the potential for business growth as a catalyst for enhancing lives and communities in Wales and beyond.

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

 

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