Holiday park secures funding to 'unlock growth'

A North Wales holiday park is set for further growth after securing six-figure funding.

Tyn-Y-Ffridd Farm, a 70-acre site in Bangor, near Snowdonia, has been backed by £890,000 from Reward Funding. 

The cash comes after traditional banks withdrew financial support. 

Owned by Sarah Thomas and David James, the business has rebounded from COVID-19 challenges, investing in holiday cottages, camping and events such as weddings and yoga retreats.

They say the funding, following strong revenue growth over the past two years, will provide additional working capital to continue its momentum and “expand and drive the business forward”.

David said: “We can’t underestimate the impact the pandemic had on the business, and the scale of the challenge and rebuild needed ever since. 

“We’ve fortunately gone from strength-to-strength by developing our holiday and private rental properties, and expanded into new areas such as weddings and corporate events.

“Few businesses can enjoy the growth we’ve experienced without external finance, which is why we were relieved when Reward stepped in to support us when the bank removed its funding. 

“The flexibility and pace of lending has ensured we’ve not stood still and are now in a position to expand the business further over the next 12 months.”

Mike Calvert, Reward Funding’s business development director in the North West, added: “Sarah and David have worked tirelessly to develop the holiday park into a hugely successful business that has continually diversified into new markets and revenue streams.

“We’re delighted to offer an alternative solution that unlocks further growth.”

The deal was brokered by Adrian Barlow, of Commercial Funding 75point3, part of the 75point3 group, which has four offices across North Wales.

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