London and Suffolk based creative agency Jacob Bailey Ltd, which incorporates sister company White Space Design, has been successful in gaining a £100,000 loan from the Regional Growth Loan Scheme (RGLS), managed by Finance East and financed by the East of England Development Agency (EEDA).
The award-winning agency has an impressive portfolio of direct, digital, brand and strategic marketing and PR credentials. It has a strong, highly skilled and experienced creative and account management team, which has helped the business to grow successfully since it was established 13 years ago.
The 2008 recession impacted the business, but a combination of strong client loyalty and reputation for delivery enabled the company to weather the economic conditions and turnover has now recovered, putting them firmly back on the growth track.
The loan was used to assist in the buyout of a minority shareholder by founder Shaun Bailey and the key management team of Rob Manning, Neil Prentice, Will Wright and Mark Ledger. Jacob Bailey is currently experiencing exceptional growth on the back of a number of new contract wins, resulting in a healthy cash flow and an appetite for strategic acquisitions in their sector.
Mark Ledger, Finance Director of Jacob Bailey, said: “It’s good to know that even in these times of economic austerity there are organisations that successful businesses can approach for finance to assist with growth and expansion. We’ve had a fantastic year and this loan will help to ensure we fulfil the potential that 2012 has to offer.”
Stuart Ager Senior Fund Manager, Finance East Loan Management, commented: “We are delighted to be supporting a company with such a strong track record and customer base. Seeing such a positive cash flow following their recovery from the recession’s impact gave us no doubts as to the viability of the business and their ability to service the loan that they required. Finance East wish the team all the best and success in the future.”
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NOTES TO EDITORS: White Space PR offers highly creative but business focussed public relations.Contact Richard Wood on 01473 215656 or e-mail email@example.com